The Glioblastoma Multiforme Treatment Market revenues were estimated at US$ 2.6 Bn in 2021 and is anticipated to grow at a CAGR of 10.1% from 2022-2032, according to a recently published Fact.MR report. By the end of 2032, the market is expected to reach US$ 7.4 Bn. Through surgery treatment of glioblastoma, the market is expected to garner an absolute $ opportunity of US$ 1.2 Bn during 2022 – 2032 with a projected CAGR of over 12%.
The rising prevalence of glioblastoma multiforme, increased R&D, and favorable regulatory scenarios are all projected to fuel the market growth. The presence of a good drug pipeline is expected to be a significant driver for the glioblastoma multiforme therapy market.
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Tumor heterogeneity and the variations in patient-to-patient therapy methods mean that customized measures will be required to deal with glioblastoma multiforme. The average life expectancy of glioblastoma multiforme patients is expected to increase as a result of new advances in the field. Furthermore, the FDA’s special classification for investigational drugs is expected to hasten the approval and marketing of innovative therapeutics.
Revenue of Glioblastoma Multiforme Treatment Markets from 2017 to 2021 Compared to Demand Outlook for 2022 to 2032
There is greater demand for customized treatments for glioblastoma multiforme vesicles because there are a lot of different approaches to treating it and because each patient will require a different treatment. The approval of new oncology drugs is expected to increase the life expectancy of glioblastoma multiforme patients. Furthermore, the FDA’s designation process for new therapy processes is likely to boost the speed of recording new therapies and considerably shorten their cycle to becoming approved and marketed.
- Glioblastoma Multiforme Treatment Market was valued at US$ 2.6 Bn in 2021. According to Fact.MR, Glioblastoma Multiforme Treatment Market revenue would increase 2.8X between 2022 and 2032, reaching roughly US$ 7 Bn by 2032.
- Among treatments, Radiation Therapy accounts for the largest market share with a projected growth rate of 10.9%.
- In terms of Application, revenue through Hospitals is projected to witness highest CAGR of 10.8% during 2022 – 2032.
- North America led the Glioblastoma Multiforme Treatment revenues, with over 40% share.
- The market in US is expected to garner an absolute dollar growth opportunity of US$ 1.8 Bn during 2022 – 2032.
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In 2021, with over 40% share North America held the largest share of glioblastoma treatment market. Government support for the healthcare sector’s development, high level of awareness about rare disorders, easy access to high-quality medical facilities, and attractive reimbursement policies are some of the important drivers driving regional market growth.
The unexpected breakout of COVID-19 around the globe has had a significant influence on the treatment of recurrent glioblastoma multiforme and other malignancies. Patients were unable to get radiotherapy, chemotherapy, or health monitoring in health and surgery centers. The pandemic also damaged the worldwide pharmaceutical supply chain, making treatment for patients with recurrent glioblastoma multiforme more difficult to get.
Key Takeaways from the Market Study
- Global Glioblastoma Multiforme Treatment Market is estimated to reach a market size of US$ 2.9 Bn by 2022.
- The Surgery segment is expected to grow at the highest CAGR rate of over 12% during the forecast period.
- United states is projected to remain the dominant country with absolute dollar opportunity of US$ 1.8 Bn.
- The market in Japan is set to experience the highest CAGR of 12.8% during the 2022-2032 forecast period.
The market is fiercely competitive, Key players are increasingly focused to obtain a competitive advantage, key companies in the glioblastoma multiforme treatment market are focused on R&D to produce innovative technological products.
- In April 2021, Lineage Cell Therapeutics signed an agreement with Immunomic Therapeutics to treat glioblastoma multiforme. Under the agreement terms, Lineage will receive a $2 million upfront payment, followed by $67 million in future commercial milestones.
- In July 2020, Denovo Biopharma, a California-based biotech company, received the FDA’s approval for its phase 2b clinical trial for an analytical combination therapy against glioblastoma tumor tissue.
- In May 2019, Merck announced its payment of over US$ 1 Bn to complete the acquisition of Peloton Therapeutics, which aims to prevent stroke in patients with glioblastoma using this drug. This M&A holds significant potential to increase Merck’s pipeline and improve their financial ability.
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Market Segments Covered in Glioblastoma Multiforme Treatment Market Analysis
- By Treatment :
- Radiation Therapy
- Targeted Therapy
- Tumor Treating Field (TTF) Therapy
- By Drug Class :
- Carmustine Wafers
- Other Drug Classes
- By Application :
- Ambulatory Surgical Centers
- By Region :
- North America
- Latin America
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