Global Brain Cancer Therapeutics Market, by Indication (Glioblastoma, Meningioma, Pituitary Tumors, and Others), by Treatment Type (Targeted Therapy, Chemotherapy, Immunotherapy, and Others), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) as highlighted in a new report published by Coherent Market Insights.
Global brain cancer therapeutics market is expected to be valued at US$ 2,539.0 Mn in 2021 and is expected to exhibit a CAGR of 9.8% during the forecast period (2021-2028).
The increasing launches of new drugs and government funding for brain cancer therapeutics are expected to propel the growth of the global brain cancer therapeutics market over the forecast period. For instance, in October 2021, oncologist in Mayo Clinic in Rochester, Minnesota, has received US$ 1 million to conduct a phase 1 study of WSD0922-FU (Wayshine Biopharm), a targeted treatment which blocks the epidermal growth factor receptor (EGFR) protein for the treatment of high-grade astrocytoma.
Global Brain Cancer Therapeutics Market– Impact of Coronavirus (COVID-19) Pandemic
The COVID-19 pandemic has drastically affected several clinical trials. Various trials have paused enrollment, and researchers are facing multiple challenges associated with setting up remote visits, and performing laboratory and other study assessments.
The top three practices in cancer therapy that have been most influenced by the COVID-19 epidemic are surgery delays, chemo delays, and a reduction in the number of biopsies.
In cancer, early diagnosis and rapid treatment are important to reduce mortality and enhance survival. As a result, if the healthcare system struggles to bring cancer treatment back to its previous levels of efficiency, it can put cancer patients at risk.
Browse 27 Market Data Tables and 22 Figures spread through 190 Pages and in-depth TOC on “Global Brain Cancer Therapeutics Market”- Forecast to 2028, Global Brain Cancer Therapeutics Market, by Indication (Glioblastoma, Meningioma, Pituitary Tumors, and Others), by Treatment Type (Targeted Therapy, Chemotherapy, Immunotherapy, and Others), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
To know the latest trends and insights prevalent in the Global Brain Cancer Therapeutics Market, click the link below:
https://www.coherentmarketinsights.com/market-insight/brain-cancer-therapeutics-market-4769
Moreover, regulatory approvals for brain cancer therapeutics is also expected to aid in the growth of the global brain cancer therapeutics market over the forecast period. For instance, on April 10, 2018, the U.S. Food and Drug Administration (FDA) approved everolimus tablets for oral suspension (Afinitor Disperz, Novartis Pharmaceuticals Corp.) for the adjunctive treatment of adult and pediatric patients aged 2 years and older with tuberous sclerosis complex (TSC)-associated partial-onset seizures. Everolimus is also approved for two other manifestations of TSC: TSC-associated subependymal giant cell astrocytoma (SEGA) and TSC-associated renal angiomyolipoma.
Key Takeaways of the Global Brain Cancer Therapeutics Market:
- The global brain cancer therapeutics market is expected to exhibit a CAGR of 9.8% during the forecast period due to rising research and development collaboration by pharmaceutical companies which is expected to boost the growth of the market. For instance, Lantern Pharma, a clinical-stage biopharma company by using its proprietary RADR artificial intelligence platform have announced a research agreement with the Johns Hopkins Sidney Kimmel Comprehensive Cancer Center and Kennedy Krieger Institute in December 2020. The agreement has been done to focus on the advancement of Lantern's LP-184 in glioblastoma multiforme (GBM).
- Among treatment type, targeted therapy segment is estimated to account for the largest market share in global brain cancer therapeutics market in 2020. The factor influencing the dominance of this segment is increasing awareness regarding precision medicine. A robust pipeline of targeted therapies under development for the treatment of brain cancer is expected to be responsible for the growth of this segment in the coming years. For instance, in the U.S. Food and Drug Administration (FDA) have approved first biosimilar drug for cancer treatment in September 2020. A biosimilar is a product that works almost exactly like the one that has already been approved. Biosimilars are approved when studies indicate that there are no important differences in how well they work and how safe they are. In this case, the biosimilar Mvasi (bevacizumab-awwb) works in the same way as Avastin (bevacizumab). Avastin works by interfering with the blood vessels in cancer growth and it is a type of targeted therapy, known as a monoclonal antibody. Mvasi works in the same way, but is expected to be much less expensive.
- Among regions, North America is projected to have a significant market share during the forecast period. The U.S. is anticipated to lead the market, attributed to the developed healthcare industry, coupled with increasing prevalence of brain cancer, and rising awareness regarding advanced technologies among the population in this region. For instance, according to the American Society of Clinical Oncology (ASCO), in the U.S., 24,530 adults (13,840 men and 10,690 women) are diagnosed with primary cancerous tumor of the brain and spinal cord in 2021.
- Major players operating in the global brain cancer therapeutics market include Amgen Inc., AstraZeneca PLC, F. Hoffmann-La Roche Ltd, Pfizer Inc., GlaxoSmithKline PLC, Novartis AG, Johnson & Johnson, Merck & Co, Bayer AG, and Bristol-Myers Squibb Company
