The Glioblastoma Multiforme (GBM) Treatment Market Overview: Market Size, Expected CAGR, Growth Driver And Major Players
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LONDON, April 13, 2023 /PRNewswire/ -- As per The Business Research Company's Glioblastoma Multiforme (GBM) Treatment Global Market Report 2023, the global glioblastoma multiforme (GBM) treatment market size is expected to grow from $2 billion in 2022 to $2.2 billion in 2023 at a compound annual growth rate (CAGR) of more than 10%. The glioblastoma multiforme (GBM) treatment market share is then expected to grow to $3.2 billion in 2027 at a CAGR of more than 9%.
The rising incidence of neurological diseases is projected to drive glioblastoma multiforme (GBM) treatment market growth in the coming years. The increasing prevalence of brain disorders such as glioblastoma multiforme (GBM) is due to a variety of contributing factors such as the aging population, compromised immune systems, overdiagnosis, ionizing radiation, air pollution, and others, which creates a need for brain disorder treatment to improve well-being. For instance, according to the report published by Globocan, a US-based international agency for providing global cancer statistics, approximately 308,102 cancer cases were detected in the brain and central nervous system, and there will be 251,329 deaths worldwide in the year 2020. Therefore, the increasing prevalence of brain disorders is driving the growth of the glioblastoma multiforme (GBM) treatment market.
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Major players in the glioblastoma multiforme (gbm) treatment market are Merck & Co Inc., F. Hoffmann-La Roche AG, Amgen Inc., Pfizer Inc., Teva Pharmaceutical Industries Ltd., Sun Pharmaceutical Industries Limited, Arbor Pharmaceuticals LLC, Amneal Pharmaceuticals Inc., Karyopharm Therapeutics, Sumitomo Pharma Oncology, Novartis AG, Carl Zeiss AG, Varian Medical Systems, Elekta, The Eckert & Ziegler Group, Accord Healthcare Limited, Angiochem Inc., ANI Pharmaceuticals, AstraZeneca plc. And others.
To maintain their position in the glioblastoma multiforme (GBM) treatment industry, major market players are focusing on research and development for therapy breakthroughs. For instance, in November 2021, Daiichi Sankyo Company Limited, a Japanese pharmaceutical company, launched DELYTACT, the first-ever oncolytic virus-based immunotherapy (Teserpaturev) to treat malignant glioma in conjunction with the Institute of Medical Science at the University of Tokyo. Oncolytic viruses are genetically modified viruses that can infect and replicate primarily in cancer cells, eventually triggering cell death without harming healthy cells and thereby inhibiting cell multiplication. DELYTACT (Teserpaturev) has the ability to produce immune-boosting molecules or initiate anti-cancer immunity by triggering the patient's immune system's multiple mechanisms, as well as kill tumor cells that have spread to other parts of the brain.
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According to glioblastoma multiforme (GBM) treatment market analysis, North America was the largest region in the glioblastoma multiforme (GBM) treatment market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the glioblastoma multiforme (GBM) treatment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The glioblastoma multiforme (GBM) treatment market report describes and explains the glioblastoma multiforme (GBM) treatment market and covers 2017-2022, termed the historic period, and 2022-2027 termed the forecast period, along with further forecasts for the period 2027-2032. The report evaluates the market across each region and for the major economies within each region.
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