Forecast for Glioblastoma Multiforme Treatment Market Size & Demand Surges to USD 4.82 Billion by 2030: Polaris Market Research
The global glioblastoma multiforme (GBM) treatment market size is expected to reach USD 4.82 billion by 2030 according to a new study by Polaris Market Research.
The growing cases of brain tumors globally, along with glioblastoma multiforme, are the chief impelling factor that caters the market growth. Besides, the rising number of R&D activities for the effective surgery alternative, growing geriatric population, the introduction of updated techniques for diagnosis, and rapid advancements for drug delivery technologies may further act as a catalyzing factor for the global industry demand in the foreseen period.
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Based on the drug class, the other segment is the dominating segment and is projected to lead the industry in the forthcoming years. It includes drugs such as corticosteroids, everolimus, and 5-aminolevulinic acid (5-ALA). These drugs are mainly prescribed to decrease the peritumoral vasogenic edema for symptomatic benefits, for lack of mineralocorticoid activity. Whereas the bevacizumab segment is expected to rise at the highest CAGR in the foreseen years. It is a targeted approved therapy for curing frequent and recent diagnosed GBM. Thereby, the continuation in a medical study for using bevacizumab with other therapies is likely to augment the adoption of the drug for the management of GBM.
The demand for novel and competent drugs is increasing because they are more likely to present effective surgery. For instance, as per the study by National Centre for Biotechnology Information (NCBI), in 2019, the patient pool of glioblastoma was increased to 3.19 per 100,000, in 2017. Accordingly, this is an alarming growth rate because the fatality of the patients is exponentially grown owing to the unavailability of the appropriate surgery. This growth requires effective therapies and drugs that help in decreasing the number of fatalities and may increase the life expectancy rate of the patients. Therefore, these are the certain factors that may create a lucrative opportunity for market growth around the world.
Market participants such as Merck & Co., Inc., Sumitomo Dainippon Pharma Oncology, Inc. (Boston Biomedical, Inc.), F. Hoffmann-La Roche Ltd., Sun Pharmaceutical Industries Ltd., Amneal Pharmaceuticals, Amgen, Inc., Arbor Pharmaceuticals, LLC, Amgen, Inc., Teva Pharmaceutical Industries Ltd., Karyopharm Therapeutics, Inc., and Pfizer Inc. are some of the key players operating in the global industry.
There are various industry vendors introducing their innovations across the global industry to reinforce their geographical footprints. For instance, in April 2021, Humanigen Inc.- a clinical-stage biopharmaceutical company, declared the positive results from its Phase 1 clinical trial of “Ifabotuzumab” in the surgery of glioblastoma multiforme. The company announces the positive results of its Humaneered antibody, Ifabotuzumab. The drug was confirmed to be very responsive, precise, and reproducible targeting the tumor and tumor microenvironment in all patients.
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Polaris Market research has segmented the glioblastoma multiforme (GBM) treatment market report on the basis of treatment, drug class, end-use, and region:
Glioblastoma Multiforme (GBM) Treatment, Treatment Outlook (Revenue – USD Billion, 2018 – 2030)
- Radiation therapy
- Targeted Therapy
- Tumor Treating Field (TTF) Therapy
Glioblastoma Multiforme (GBM) Treatment, Drug Class Outlook (Revenue – USD Billion, 2018 – 2030)
- Carmustine Wafers
Glioblastoma Multiforme (GBM) Treatment, End-use Outlook (Revenue – USD Billion, 2018 – 2030)
- Ambulatory Surgical Centers
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