Dublin, Feb. 14, 2024 (GLOBE NEWSWIRE) -- The "Glioma Treatment Global Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
The global glioma treatment market has grown strongly in recent years. It will grow from $4.7 billion in 2023 to $5.03 billion in 2024 at a compound annual growth rate (CAGR) of 7.1%. The growth observed in the historical period can be ascribed to an increased incidence of gliomas, advancements in molecular understanding, the evolution of standard therapies, progress in clinical trials and research, and enhancements in imaging and diagnostic techniques.
The glioma treatment market is expected to see strong growth in the next few years. It will grow to $6.4 billion in 2028 at a compound annual growth rate (CAGR) of 6.2%. The anticipated growth in the forecast period can be ascribed to personalized therapies and biomarker discovery, advancements in immunotherapy, integration of targeted therapies, the emergence of novel therapeutic platforms, and collaborative research initiatives. Key trends expected in the forecast period include the development of blood-brain barrier-penetrating agents, the use of liquid biopsy for monitoring, an emphasis on the quality of life and supportive care, genetic and molecular subtyping, as well as increased patient advocacy and involvement.
The anticipated increase in the incidence of brain and CNS tumors is expected to drive the growth of the glioma treatment market. For instance, as of August 2021, the American Cancer Society reported an estimated 83,570 cases, including 24,530 malignant tumors and 59,040 nonmalignant tumors, with 18,600 deaths from brain and other CNS cancers in the United States for the year 2021. Hence, the increasing incidence of brain and spinal cord tumors is a key driver for the growth of the glioma treatment market.
The growing demand for personalized medicine is set to propel the glioma treatment market's expansion. For example, as of October 2022, the Personalized Medicine Coalition (PMC) projected that over 75,000 genetic testing products and 300 personalized medicines would be available for individuals with various cancers, genetic rare diseases, and a range of chronic and infectious conditions. Consequently, the rising demand for personalized medicine is a significant driver for the glioma treatment market's growth.
Innovation in product development stands out as a prominent trend in the glioma treatment market. Major players in the glioma treatment sector are incorporating novel and innovative products as part of their strategies to maintain a competitive position. An illustrative example is Daiichi Sankyo Company Limited, a Japanese pharmaceutical company, which introduced Delytact in November 2021. Delytact is a pioneering oncolytic virus therapy designed to combat brain cancer. This therapy utilizes a cancer-fighting virus with a viral genome featuring three triple mutations, enhancing selective replication in cancer cells and contributing to the treatment of malignant glioma.
Prominent companies in the glioma treatment market are concentrating on the introduction of advanced targeted therapy solutions, particularly combination medicines, to gain a competitive advantage. For instance, in May 2023, Novartis AG, a Swiss pharmaceutical corporation, received approval from the U.S. Food and Drug Administration (FDA) for Tafinlar (dabrafenib) + Mekinist (trametinib) for the treatment of pediatric patients (at least one year old) with low-grade gliomas (LGGs) harboring a BRAF V600E mutation and requiring systemic therapy. This approval marks the first combination targeted medication endorsed for the treatment of BRAF V600E LGG in pediatric patients, offering a potential new standard of care therapy option. Pediatric LGG is the most prevalent type of pediatric brain cancer, with BRAF V600 mutations present in 15-25% of cases, associated with poor survival outcomes and less favorable responses to chemotherapy.
In February 2023, Kite, a global biopharmaceutical company based in the U.S., completed the acquisition of Tmunity Therapeutics for an undisclosed amount. This strategic move enhances Kite's internal capabilities in cell therapy research by incorporating additional pipeline assets. The acquisition provides access to pre-clinical and clinical programs, including an 'armored' CAR T technology platform, with the potential to enhance the anti-tumor activity of various CAR-Ts. Tmunity Therapeutics Inc., the acquired company, focuses on developing innovative products for the treatment of diffuse intrinsic pontine glioma.
North America was the largest region in the glioma treatment market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global glioma treatment market report during the forecast period. The regions covered in the glioma treatment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the glioma treatment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Report Scope
Markets Covered:
1) By Type: Low-Grade; High-Grade
2) By Disease: Glioblastoma Multiforme; Anaplastic Astrocytoma; Anaplastic Oligodendroglioma; Other Diseases
3) By Route Of Administration: Oral; Parenteral; Other Routes
4) By Treatment: Surgery; Radiation Therapy; Chemotherapy; Targeted Drug Therapy; Other Treatments
5) By End-User: Hospitals; Specialty Clinics; Other End Users
Key Companies: Merck & Co Inc.; Amgen Inc.; F Hoffmann-La Roche AG; Pfizer Inc.; Teva Pharmaceutical Industries Ltd.
Time Series: Five years historic and ten years forecast
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments
A selection of companies mentioned in this report includes:
- Merck & Co Inc.
- Amgen Inc.
- F Hoffmann-La Roche AG
- Pfizer Inc.
- Teva Pharmaceutical Industries Ltd.
- Sun Pharmaceutical Industries Ltd.
- Arbor Pharmaceuticals LLC
- Amneal Pharmaceuticals Inc.
- Karyopharm Therapeutics Inc.
- Bristol-Myers Squibb Co.
- Rigel Pharmaceuticals Inc.
- Sumitomo Dainippon Pharma Oncology Inc.
- Thermo Fisher Scientific Inc.
- Emcure Pharmaceuticals Ltd.
- Sigma-Aldrich Co.
- Novartis AG
- AstraZeneca plc
- Eli Lilly and Company
- Sanofi S.A.
- Johnson & Johnson
- AbbVie Inc.
- Takeda Pharmaceutical Company Limited
- GlaxoSmithKline plc
- Bayer AG
- Gilead Sciences Inc.
- Ipsen Pharma
- Eisai Co. Ltd.
- Genentech Inc.
- Iovance Biotherapeutics Inc.
- Agios Pharmaceuticals Inc.
For more information about this report visit https://www.researchandmarkets.com/r/o23pq0
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