Number of pages: 100 | Report Format: PDF | Published date: August 30, 2022
Historical Years – 2020 | Base Year – 2021 | Forecasted Years – 2022-2030
The global brain tumor drugs market was pegged at US$ 3.24 billion in 2021 and is expected to witness a CAGR of 9.4% during the forecast period.
Brain tumor drugs are used to treat brain tumors which is an abnormal growth of cells in the brain. Based on the spread and severity, tumors can be either malignant or benign. There are various types of drugs used to treat numerous forms of brain tumors. Meningioma is the most common type of brain tumor and is usually benign in nature. The treatment for brain tumors differs depending on several factors, such as patient’s age and general health, and the size, location, and type of tumor.
The global brain tumor drugs market growth is attributed to the growing burden of brain tumors, rising awareness, and increasing R&D on cancer therapeutics. The increased burden of brain tumors globally is expected to drive the demand in the brain tumor drugs market over the forecast period. Increasing consumer awareness regarding the latest technological advancements in therapies, and medications are responsible for the growth of the global brain tumor drugs market.
However, the high cost of treatment for brain tumors including chemotherapy, radiation therapy, and complex and painful procedures along with side effects are projected to hamper the brain tumor drugs market growth, in the forecast period.
The global brain tumor drugs market has been analyzed from four perspectives: therapy type, indication, distribution channel, and region.
Brain Tumor Drugs Market by Therapy Type
The global brain tumor drugs market has been subdivided into three types: chemotherapy, immunotherapy, targeted therapy, and others. The targeted therapy segment dominates the brain tumor drugs market. This is due to the increased awareness of precision medicine. The established success rate of targeted therapy as compared to chemotherapy is one of the major factors driving the segment. Also, a strong pipeline of targeted therapies for the treatment of brain tumors is responsible for the growth of this segment.
Brain Tumor Drugs Market by Indication
The global brain tumor drugs market has been subdivided based on indication as, glioblastoma, meningioma, and pituitary adenoma. The glioblastoma segment is dominating the brain tumor drugs market as these are the highly prevalent and fastest growing high-grade types of brain tumors. Also, improvements in advanced diagnostic technologies are also one of the driving factors for the market growth.
Brain Tumor Drugs Market by Distribution Channel
Based on distribution channels, the global brain tumor drugs market has been divided into three categories, namely, retail pharmacy, hospital pharmacy, and online pharmacy. The hospital pharmacy dominates the global brain tumor drugs market owing to the huge number of patient visits to the hospital for diagnosis and treatment and rising sales of prescription-based drugs. The retail pharmacy segment is expected to witness a high growth rate due to the increased availability of prescription drugs in this channel.
Brain Tumor Drugs Market by Region
The global brain tumor drugs market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World, based on region. North America dominates the regional brain tumor drugs market. This is attributed to the increasing diagnostic rates of glioblastoma in the United States. Access to advanced therapy and the spending capacity of the population are also contributing to this dominance. The rapid product launch, approvals, and presence of major players in this region also influence the market growth. Europe stood second in the market due to the increased investments in the R&D activities in developing novel brain tumor drugs, while Asia Pacific region is anticipated to show a significant growth rate due to the rising prevalence of brain tumors and growing geriatric population.
Some of the prominent players operating in the global brain tumor drugs market are: -
The current market size in 2021 is around USD 3.24 billion and is estimated to grow at a CAGR of 9.4% in the forecast period.
The increased prevalence of brain cancer and increasing advanced product launches and clinical trials are a few governing trends in the market.
AstraZeneca, Merck, etc. are a few of the key players in the market.
Targeted therapy segment holds the majority share in the market due to the rising awareness and uptake of precision medicine.
Asia Pacific is expected to witness a high growth in the forecast period.
*Insights on financial permanence is subject to availability of information in public domain