Brain Tumor Therapeutics Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Brain Tumor Therapeutics Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Brain Tumor Therapeutics Market is poised to grow at a CAGR of 9.5% during the forecast period (2022-2027).

The immediate impact of the COVID-19 pandemic is different as it continues to transform the growth of many markets. While few industries may register a drop in demand, numerous other markets are likely to remain unscathed and show promising growth opportunities. Timely surgical treatment is extremely critical in reducing the tumor mass inside a patient’s brain. According to the August 2020 research study titled “Brain Tumor Management Amidst COVID-19 Pandemic,” it was found that the European Society for Medical Oncology (ESMO) has adopted a neurosurgery protocol on giving drug therapy to slow down the tumor’s progression and in providing a longer survival time. This is of utmost importance in patients with brain tumors due to the delay of neurosurgery as hospitals around the globe have postponed elective procedures to increase the capacity for COVID-19 patients. This has created a lot of uncertainty in the neuro-oncology community. According to the National Brain Tumor Society in 2020, many brain tumor patients, particularly those with malignant tumors, are considered at high risk because chemotherapy and radiation can weaken a patient's immune system, rendering them more vulnerable to COVID-19. This has further impacted the brain tumor therapeutics market during the pandemic. Furthermore, according to the study published in “Managing children with brain tumors during the COVID-19 era” in 2021, malignant juvenile brain tumors are known for their rapid growth, necessitating early detection and treatment. As a result, delaying or changing therapy may damage its effectiveness, lowering patient survival rates. This has further impacted the growth of the brain tumor therapeutics market during the pandemic. Moreover, Brain Tumor Research, a research organization, has reported a drastic delay in the diagnosis and treatment approaches, such as chemotherapy and radiotherapy for different types of brain tumors.

It has been observed that there is a significant surge in the brain cancer burden globally over the past few years. As per the estimates of Globocan 2020, the number of new cases of brain cancer across the world in 2021 was 308,102, and the number of new deaths was 251,329. Furthermore, according to the estimates of the American Cancer Society, in 2021, about 24,530 malignant tumors of the brain or spinal cord were diagnosed. Also, according to the same source, about 3,460 children under the age of 15 are likely to be diagnosed with brain or CNS tumors this year. This increase in the number of cancer cases is expected to drive the overall brain therapeutics market. Glioblastoma is an aggressive form of brain tumor, which occurs mostly in adults. It can also occur in children, but very rarely. It grows fast and spreads quickly. Quick diagnosis and treatment are a must, as it is a fatal disorder. Moreover, there is a rising prevalence of brain cancer across the world. Oligidendrioma is a central nervous system tumor, which begins in the brain or spinal cord. According to the 2020 latest updates of the National Cancer Institute, oligodendrogliomas occur most often in people between the ages of 35 and 44 but can occur at any age. Currently, in the United States, it was estimated that 11,757 people are living with oligodendroglioma, and 13,294 people are living with ependymoma. The rising types of brain cancers are fueling the market growth. Thus, the increasing prevalence of brain tumors is one of the major factors augmenting the growth of the market, as these existing and novel therapies help patients to manage and prevent the disease.

However, the high cost of cancer therapy and side effects associated with brain tumor therapeutics are projected to hamper the market growth slightly over the forecast period.

Key Market TrendsThe Immunotherapy Segment is Expected to Register Robust Growth

Immunotherapy is a cancer treatment that helps the immune system fight cancer. There are several types of immunotherapies used for the treatment of cancer. Immunotherapy offers promising options for the treatment of brain cancer, which is traditionally treated with chemotherapy, radiation therapy, and surgery. Immunotherapy, also called biologic therapy, treats the disease using living organisms. "Cancer immunotherapy: Pros, cons, and beyond" was a research study that was published in April 2020. It stated that various experiments and clinical studies have shown that immunotherapy does have unmatched benefits over conventional anti-tumor therapy, which can extend progression-free survival (PFS) and overall survival (OS). Vaccines are a promising new form of immunotherapy that stimulates the immune system to fight cancer. Using modified natural killer cells as the foundation, Purdue University's cancer researcher and team revealed in July 2020 that they had created a potential new method of responsive immunotherapy with several functions for the treatment of GBM (glioblastoma multiforme). The development of this market is anticipated to be fueled by novel immunotherapy strategies for brain cancer. Additionally, there are many approved immunotherapies for various brain cancers and market players and universities are significantly focusing on the development and launch of new immunotherapies for brain tumors. For instance, the University of Florida Health-led ReMission Alliance against Brain Tumors announced the names of 12 partner institutions from across the United States and Canada working together to develop novel treatments that will significantly improve the quality of life and long-term survival for patients with malignant brain tumors as well as the advancement of immunotherapy research and clinical trials in brain tumors in 2020. Therefore, it is anticipated that this market would rise as a result of universities' increasing attempts to create novel immunotherapy treatments. Thus, the aforementioned factors have helped drive the overall growth of the market studied.

North America is Expected to Dominate the Market Over the Forecast Period

North America brain tumour market is projected to have significant share over the forecast period. The United States is anticipated to lead the market, this is attributed to the developed healthcare industry, coupled with rising awareness regarding advanced technologies among the population in this region. According to the American Brain Tumor Association, more than 84,000 people were diagnosed with a primary brain tumor in 2021, and approximately 18,000 people died in 2021 as a result of a primary malignant brain tumor. In addition, according to the same source, more than 28,000 children in the United States are diagnosed with a brain tumor in 2021. The rising prevalence of brain tumors is expected to drive the growth of this region. Moreover, frequent product launches and drug approvals, along with significant R&D activities for the treatment of brain tumors, is likely to drive the market studied in the United States. For instance, in June 2020, CNS PHARMACEUTICALS AG received the US Food and Drug Administration (FDA) Orphan Drug Designation approval for its lead product Berubicin for the treatment of malignant gliomas. In May 2020, The Ivy Brain Tumor Center at Barrow Neurological Institute in the United States initiated a new clinical trial of two targeted therapy drugs, abemaciclib and LY3214996, to evaluate central nervous system (CNS) penetration in patients with recurrent glioblastoma scheduled for resection. The increasing clinical trials in the United States for brain tumor therapeutics are expected to propel the growth of this market.

Thus, owing to the aforementioned factors, the North America brain tumor therapeutics market is likely to grow significantly during the forecast period.

Competitive Landscape

The market for brain tumor therapeutics is highly concentrated with a few global players controlling a significant share of the market. Key players in the market include Amgen Inc., AstraZeneca PLC, Bayer AG, Bristol-Myers Squibb Co, F. Hoffmann-La Roche Ltd, GlaxoSmithKline PLC, Johnson & Johnson, Merck & Co. Inc., Novartis AG, and Pfizer Inc., among others.

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