The global brain tumor drugs market was pegged at US$ 3.24 million in 2021. The market is expected to witness a CAGR of 9.4% from 2022 to 2030.
The increasing occurrence of brain tumor cases, both benign or malignant has greatly impacted the global brain tumor drugs market growth. As there is an increased rate of diagnosis of tumors due to the availability of advanced technologies in diagnostics, there is an increased demand for more effective drugs. Thus, many key players are investing in R&D activities to develop more innovative drugs and therapies. The governments of various economies are supported by funding the research to facilitate the development of treatments. This support thus leads increase in pipeline candidates for brain tumor drugs.
Over the years, there is a significant rise in the incidence of brain tumors. This may be due to factors such as exposure to radiation, rise in the elderly population, changes in lifestyle, environmental pollution, etc. According to the National Center for Biotechnology Information (NCBI), United States research, the incidence of glioblastoma tumor is 0.59-5 per 100,000 population. This rate is rapidly increasing globally. Thus, this incidence rate has a direct influence on demand for brain tumor drugs and hence propelling the market growth.
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Many governments of developed and emerging economies are supporting the research organizations by funding their research in developing innovative technology and therapy for the treatment of brain tumors. In February 2022, U.S. President Joe Biden reinvigorated the Cancer Moonshot campaign with White House leadership with the aim to reduce the death rates from cancer by almost 25% in the next 25 years and to improve patients’ experience and their families supporting and surviving cancer.
- AstraZeneca plc
- Johnson & Johnson Inc.
- Merck & Co.
- Pfizer Inc.
- Hoffmann-La Roche Ltd.
- Y-mAbs Therapeutics, Inc.
- Shimadzu Corporation
- Bristol-Myers Squibb
- Bayer AG
- Reddy’s Laboratories Ltd.
By Therapy Type
- Targeted therapy
- Meningioma and Pituitary Adenoma
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