Pune, India, Dec. 16, 2022 (GLOBE NEWSWIRE) — The brain tumor drugs market size was valued at USD 2.31 billion in 2021 and USD 2.43 billion in 2022. The market is expected to reach USD 4.43 billion by 2029 with a CAGR of 9.0% during the forecast period. Prevalence of smoking, stress, aging, and electromagnetic radiation is projected to drive market growth. Increasing cases of brain cancer are expected to propel the market course. Presence of strong key players in the market is projected to assist in market development. Fortune Business Insights™ shares this information in its report titled “Brain Tumor Drugs Market, 2022-2029.”
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Key Industry Development
- September 2022– F. Hoffmann-La Roche Ltd. announced its agreement for the acquisition of Good Therapeutics. With this acquisition, the company is set to gain rights to platform technology of Good Therapeutic, which is applicable to a wide range of areas, including cancer, autoimmune diseases, metabolic disease, and pain management.
Report Scope
| Report Coverage | Details |
| Forecast Period | 2022 to 2029 |
| Forecast Period 2022 to 2029 CAGR | 9.0% |
| 2029 Value Projection | USD 4.43 Billion |
| Base Year | 2021 |
| Market Size in 2021 | USD 2.31 Billion |
| Historical Data for | 2018 to 2020 |
| No. of Pages | 181 |
| Key Players | F. Hoffmann-La Roche Ltd (U.S.), Novartis AG (Switzerland), Merck & Co. Inc. (U.S.), Pfizer Inc. (U.S.) |
| Brain Tumor Drugs Market Growth Drivers | Rising Cases of Brain Cancer to Progress Market Development |
| Delay Diagnosis of Brain Tumor Declined Market Growth | |
| Hospital Pharmacy to Govern Owing to Increasing Acceptance |
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Drivers and Restraints
Rising Cases of Brain Cancer to Progress Market Development
Rising cases of brain cancer globally are anticipated to drive the brain tumor drugs market growth. Change in eating habits, urbanization, change in lifestyle, and cases of smoking have given rise to brain cancer cases. According to WHO, 23.0% of the adults in the world smoke tobacco. Increasing rates of diagnosis, treatment rate, and rising cases of various cancer types are estimated to develop the market. Strong presence of various market players in developed countries is expected to further propel market development.
However, comparatively lower diagnosis and treatment rates and limited reimbursement are expected to hamper the market growth.
COVID-19 Impact:
Delay Diagnosis of Brain Tumor Declined Market Growth
The COVID-19 pandemic led to disruptions in supply chains and manufacturing activities, which limited the market growth of brain tumor drugs. Market players witnessed a significant decline in revenue generated during 2020. For instance, F. Hoffmann-La Roche Ltd. recorded a decline of 29.4% in revenues generated in 2020 for the drug Avastin.
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Segments
Chemotherapy to Lead Owing to Wide Acceptance
On the basis of therapy, the market is divided into targeted therapy, chemotherapy, immunotherapy, and others. The chemotherapy segment accounts for the biggest part on the basis of revenue as it is widely accepted for treatment of brain cancer. Targeted therapy segment is also set to witness a significant growth owing to increasing adoption of the therapy.
Glioma to Dictate Due to Increasing Launches of Drugs
Based on indication, the market is categorized into pituitary, meningioma, glioma, and others. Glioma segment is anticipated to dominate the market in the coming years due to increasing launches of drugs for treating glioblastoma.
Hospital Pharmacy to Govern Owing to Increasing Acceptance
According to distribution channel, the market is bifurcated into hospital pharmacy and retail & online pharmacy. Hospital pharmacy is projected to govern the segment as such diagnoses require a prescription from hospital administration.
Report Coverage
The report provides a detailed analysis of the top segments and the latest trends in the market. It comprehensively discusses the driving and restraining factors and the impact of COVID-19 on the market. Additionally, it examines the regional developments and the strategies undertaken by the key players of brain tumor drugs.
| Segmentation | By Therapy
|
By Indication
|
|
By Distribution Channel
|
Regional Insights
North America Lead the Market Owing to Increasing Launches of Drugs
North America is expected to have the largest brain tumor drugs market share due to proper reimbursement policies in the U.S. for brain cancer. Increasing launches of drugs in the market are expected to increase market growth in the region. In April 2022, Amneal Pharmaceuticals LLC. received the approval by the U.S. FDA for its product ALYMSYS (bevacizumab-maly). This product is used for treating various cancers such as glioblastoma in adults.
Europe is projected to have a considerable substantial growth in the forecast period due to prevalent cases of brain cancer and research activities for developing brain cancer drugs.
Asia Pacific has a moderate growth due to change in regulatory policies for spreading the awareness of cancer in the region.
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Competitive Landscape
New Product Launches by Key Players to Progress Market Track
The market has various players that hold a major part in the market such as F. Hoffmann-La Roche Ltd., Pfizer Inc., Novartis AG, Amgen Inc., and Merck & Co., Inc. New product launch strategies by the market players are anticipated to improve market development. In April 2020, F. Hoffmann-La Roche Ltd. received approval of Health Canada for its drug Rozlytrek (entrectinib) for adult patients.
List of Key Players Profiled in the Report
- F. Hoffmann-La Roche Ltd (U.S.)
- Novartis AG (Switzerland)
- Merck & Co. Inc. (U.S.)
- Pfizer Inc. (U.S.)
- Amneal Pharmaceuticals LLC. (U.S.)
- Amgen Inc. (U.S.)
- NextSource Pharmaceuticals, LLC (U.S.)
- Emcure Pharmaceuticals (India)
Table of Content
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Market Trends
- Key Insights
- Incidence of Brain Cancer, Key Region, 2020/2021
- Key Industry Developments – Mergers, Partnership, Acquisitions
- Overview of the Regulatory Scenario by Key Region/Countries
- New Product Launches by Key Players
- Impact of COVID-19 on Brain Tumor Drugs Market
- Global Brain Tumor Drugs Market Analysis, Insights and Forecast, 2018-2029
- Market Analysis, Insights and Forecast – By Therapy
- Targeted Therapy
- Chemotherapy
- Immunotherapy
- Others
- Market Analysis, Insights and Forecast – By Indication
- Pituitary Tumors
- Meningioma
- Glioblastoma
- Others
- Market Analysis, Insights and Forecast – By Distribution Channel
- Hospital Pharmacy
- Retail & Online Pharmacy
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- Market Analysis, Insights and Forecast – By Therapy
ToC Continue…
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