Brain Cancer Therapeutics Market Is Estimated To Witness High Growth Owing To Increasing Prevalence of Brain Cancer and Rising Investments in R&D
The Brain Cancer Therapeutics Market is estimated to be valued at US$ 2,539.0 million in 2021 and is expected to exhibit a CAGR of 9.8% over the forecast period 2021-2028, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
The Brain Cancer Therapeutics Market encompasses the pharmaceutical products used for the treatment of brain cancer. Brain cancer is a malignant tumor that affects the brain or its surrounding tissues. The market offers various therapies such as chemotherapy, targeted therapy, immunotherapy, and radiation therapy, among others. These treatments aim to inhibit the growth of cancer cells and improve patient outcomes. With advancements in medical technology, innovative therapies are being developed to provide more effective and targeted treatments for brain cancer patients.
Market Dynamics:
The Brain Cancer Therapeutics Market is driven by the increasing prevalence of brain cancer worldwide. According to the World Health Organization (WHO), brain cancer is one of the leading causes of death globally, with approximately 350,000 new cases diagnosed each year. The rising incidence of brain cancer has created a significant demand for effective therapeutics, leading to market growth.
Furthermore, there has been a surge in investments in research and development (R&D) activities related to brain cancer therapeutics. Pharmaceutical companies and research institutions are focusing on developing novel drugs and treatment approaches to improve the survival rates and quality of life for brain cancer patients. These investments are expected to drive market growth by introducing new and innovative therapies in the market.
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Market Drivers:
1. Rising Prevalence of Brain Cancer:
Brain cancer is a serious condition that affects a significant number of individuals globally. According to the World Health Organization (WHO), there were an estimated 330,000 new cases of brain cancer in 2020. This rising prevalence is a major driver for the brain cancer therapeutics market as it creates a growing need for effective treatments.
– Increasing Aging Population: The incidence of brain cancer is higher among the elderly population. As the global population continues to age, the number of individuals at risk of developing brain cancer is also expected to rise. This, in turn, is driving the demand for brain cancer therapeutics.
– Advancements in Diagnostic Techniques: Advances in diagnostic techniques have led to improved detection of brain cancer at earlier stages. This early diagnosis allows for timely treatment interventions, increasing the chances of successful outcomes. The growing adoption of advanced diagnostic techniques such as magnetic resonance imaging (MRI) and positron emission tomography (PET) scans is driving the demand for brain cancer therapeutics.
2. Technological Advancements in Treatment Modalities:
Advancements in technology have revolutionized the field of cancer treatment, including brain cancer. These technological breakthroughs have resulted in the development of innovative treatment modalities that offer improved efficacy and reduced side effects.
– Targeted Therapies: Targeted therapies are designed to specifically target cancer cells while sparing healthy cells, resulting in reduced side effects and improved treatment outcomes. The development of targeted therapies for brain cancer, such as EGFR inhibitors and angiogenesis inhibitors, is driving the growth of the brain cancer therapeutics market.
– Immunotherapies: Immunotherapies harness the body’s immune system to fight against cancer cells. The emergence of immunotherapies, such as immune checkpoint inhibitors and chimeric antigen receptor (CAR) T-cell therapies, has shown promising results in the treatment of brain cancer. These advancements in immunotherapies are driving the demand for brain cancer therapeutics.
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Market Restraints:
1. High Cost of Treatment:
The high cost associated with brain cancer therapeutics is a major restraint for the market. The cost of treatment includes the cost of drugs, radiation therapy, surgery, and supportive care. Additionally, the cost of follow-up visits, imaging tests, and laboratory tests further contribute to the overall cost of treatment. The high cost of brain cancer therapeutics poses a significant financial burden on patients and healthcare systems, limiting their accessibility and affordability.
– Lack of Insurance Coverage: In many countries, insurance coverage for brain cancer treatment is limited, excluding certain therapies or imposing high out-of-pocket expenses. This lack of insurance coverage further exacerbates the financial burden on patients, resulting in limited access to brain cancer therapeutics.
2. Adverse Side Effects:
Brain cancer therapeutics, especially traditional treatments such as chemotherapy and radiation therapy, are associated with various adverse side effects. These side effects can range from mild to severe and may include fatigue, nausea, hair loss, cognitive impairments, and immune suppression.
– Quality-of-Life Concerns: The adverse side effects of brain cancer therapeutics can significantly impact the quality of life for patients. These side effects may interfere with daily activities, impair cognitive function, and cause emotional distress. The potential for severe side effects is a major concern for both patients and healthcare providers, leading to a reluctance to pursue aggressive treatment options.
– Development of Resistance: Another market restraint is the development of resistance to certain brain cancer therapeutics. Over time, cancer cells can develop resistance to drugs, rendering the treatments ineffective. This can lead to treatment failure and disease progression. The development of resistance poses a significant challenge for the effective management of brain cancer and highlights the need for continuous research and development of new therapeutic approaches.
In conclusion, the brain cancer therapeutics market is driven by factors such as the rising prevalence of brain cancer, advancements in diagnostic techniques, and technological advancements in treatment modalities. However, the market is restrained by the high cost of treatment, limited insurance coverage, adverse side effects, and the development of resistance. Addressing these challenges will be crucial in ensuring better accessibility, affordability, and improved treatment outcomes for patients with brain cancer.
Key Developments of Brain Cancer Therapeutics Market
1. In September 2023, Day One Biopharmaceuticals completed a New Drug Application (NDA) submission to the U.S. FDA for tovorafenib for the treatment of pediatric low-grade glioma, the most common childhood brain cancer. Tovorafenib is an investigational targeted therapy that inhibits specific kinases shown to drive abnormal signaling and tumor growth in pediatric brain tumors. The NDA includes data from the pivotal Phase 2 Tovo-2 trial showing a confirmed overall response rate of 64% and median progression-free survival of 47.1 months.
2. In June 2023, The U.S. FDA granted fast track designation to Servier Pharmaceuticals’ investigational brain cancer drug, vorasidenib, for the treatment of grade 2 glioma. Vorasidenib significantly delayed tumor progression and the need for further treatment compared to placebo in a Phase 3 trial. Servier is working on timelines for submission of a New Drug Application to the FDA.
3. In May 2022, Bristol Myers Squibb entered into a research collaboration with Dragonfly Therapeutics to evaluate Dragonfly’s TriNKET technology in combination with Bristol Myers’ own compounds for the potential treatment of a variety of solid tumor cancers, including glioblastoma. The collaboration will focus on generating novel NK cell engager-based immunotherapies.
4. In September 2021, The Ivy Brain Tumor Center launched a phase 0 clinical trial sponsored by Kazia Therapeutics to evaluate the ability of Kazia’s investigational new drug, paxalisib, to cross the blood-brain barrier and engage its target in patients with glioblastoma. Paxalisib is a brain-penetrant PI3K/mTOR inhibitor.
5. In July 2021, Bayer received Breakthrough Therapy Designation from the FDA for copanlisib for the treatment of adult patients with relapsed or refractory MSI-H/dMMR glioblastoma. Copanlisib is a PI3K inhibitor studied in the Phase 2 CHRONOS-3 trial in recurrent glioblastoma.
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Table of Contents with Major Points:
Executive Summary
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Introduction
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Key Findings
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Recommendations
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Definitions and Assumptions
Market Overview
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Definition of Brain Cancer Therapeutics Market
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Market Dynamics
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Drivers
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Restraints
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Opportunities
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Trends and Developments
Key Insights
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Key Emerging Trends
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Key Developments Mergers and Acquisition
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New Product Launches and Collaboration
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Partnership and Joint Venture
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Latest Technological Advancements
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Insights on Regulatory Scenario
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Porters Five Forces Analysis
Qualitative Insights Impact of COVID-19 on Global Brain Cancer Therapeutics Market
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Supply Chain Challenges
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Steps taken by Government/Companies to overcome this impact
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Potential opportunities due to COVID-19 outbreak
Conclusion
Appendix
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Data Sources
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Abbreviations
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Disclaimer
TOC Continued…!
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