According to Growth Plus Reports' most recent report, the Global Brain Tumor Drugs Market was estimated at US$ 3.24 billion in 2021 and is expected to reach US$ 7.27 billion by 2030, at a revenue CAGR of 9.4% from 2022 to 2030. The study examines the assisted reproductive technology market in depth, as well as current trends and future projections to identify potential investment opportunities. To assess the competitive landscape of the assisted reproductive technology market and key competitors in order to thoroughly analyse their strategies.
Key Takeaways:
- Consumer awareness of recent medical and therapeutic technological advancements is driving revenue growth in the market.
- Increasing R&D activities on cancer therapeutics to significantly boost market revenue.
- Investments and collaborations drive revenue growth in the brain tumour drugs market.
Market Drivers:
The growing public awareness of neurological disorders in children and adults is propelling the market revenue for brain tumour drugs. Cancer is a major public health concern around the world, and it is the second leading cause of morbidity in the United States. The global geriatric population, as well as the emergence of new diseases, will drive growth in the brain tumour treatment market. However, the numerous side effects associated with brain tumour treatments, as well as the high costs of these drugs, are some of the major factors limiting market growth. Furthermore, lower rates of brain tumour detection and treatment, as well as limited reimbursement regulations for these medications in developing countries, are expected to significantly slow market revenue growth.
Market Segmentation:
Growth Plus Reports examined the global brain tumour drugs market from a variety of angles, including therapy type, indication, distribution channel, and region.
Therapy Type Segmentation:
The global brain tumour drug market is divided into three segments based on therapy: chemotherapy, immunotherapy, and targeted therapy.
In terms of revenue, the targeted therapy segment dominates the global brain tumour drugs market. This significant revenue growth can be attributed to increased awareness of precision medicine and the success rate of targeted therapy versus chemotherapy. Furthermore, a robust pipeline of targeted therapies for the treatment of brain tumours is driving this segment's revenue growth.
Indication Segmentation:
The global brain tumour drug market is divided into three indications: glioblastoma, meningioma, and pituitary adenoma.
In terms of revenue, the glioblastoma segment dominates the global brain tumour market. This large revenue share can be attributed to the fact that these brain tumours are extremely common and rapidly growing. Furthermore, advancements in advanced diagnostic technologies are expected to significantly drive market revenue during the forecast period.
Distribution Channel Segmentation:
The global brain tumour drugs market is divided into three segments based on distribution channels: retail pharmacy, hospital pharmacy, and online pharmacy.
In terms of revenue, the hospital pharmacy dominates the global brain tumour drugs market. This large revenue share can be attributed to the large number of patient visits to hospitals for diagnosis and treatment, as well as rising prescription-drug sales.
Because of the increased availability of prescription drugs in this channel, the retail pharmacy segment is expected to grow significantly in terms of high revenue share.
Regional Growth Dynamics:
The global brain tumour drugs market is divided into four regions: North America, Europe, Asia Pacific, and the Rest of the World.
North America has the highest revenue share in the global market for brain tumour drugs. This large revenue share is attributed to rising glioblastoma diagnostic rates, the availability of modern therapy, and the population's discretionary income, all of which contribute to market revenue growth. Additionally, the rapid product launch, approvals, and presence of major players in this region all have an impact on market revenue growth.
Europe accounts for the second largest revenue in the market due to the rising investments in R&D activities.
Competitive Landscape
The prominent players operating in the global brain tumor drugs market are:
- AstraZeneca plc
- Johnson & Johnson Inc.
- Merck & Co.
- Pfizer Inc
- Y-mAbs Therapeutics, Inc.
- Shimadzu Corporation
- Bristol-Myers Squibb
- Bayer AG
Partnerships and collaborations, product launches, and R&D projects are being used by these companies to increase their market revenue share and expand their product offering. Furthermore, market participants are investing in advertising and public awareness campaigns to spread information about the condition, treatments, and available pharmaceuticals.
Healthcare investment opportunities in Global Cancer Technology are a booming sector for investors. The market for global cancer technology is anticipated to grow exponentially in the coming years, with the burden of cancer estimated to reach 26.4 million new cases worldwide in 2030 and the costs associated with treating these cases estimated to reach $1.2 trillion.
