increasing incidence of glioblastoma multiforme is driving the Glioblastoma Multiforme Treatment Market
Technavio analyzes that the Glioblastoma Multiforme Treatment Market is expected to grow at a CAGR of 8.2% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 1362 million.There are various factors that contribute to the growth of the market. Glioblastoma multiforme (GBM), an aggressive and malignant type of brain tumor, is experiencing a significant rise in incidence rates. According to the American Brain Tumor Association, GBM accounts for approximately 15% of all primary brain tumors and is the most common form of malignant brain tumor in adults. The increasing prevalence of this debilitating condition necessitates continuous advancements in its treatment. Current therapies include surgery, chemotherapy, and radiation therapy, but the prognosis remains poor, with a median survival rate of only 12-15 months. The need for more effective and less toxic treatment options is imperative to improve patient outcomes and quality of life. Ongoing research and clinical trials are exploring novel therapeutic approaches, including immunotherapy, gene therapy, and targeted drug delivery, to address the unmet medical need in the GBM treatment market.
The hospitals segment holds a significant market share in the global glioblastoma multiforme (GBM) treatment industry, given the intricate care and extensive resources necessary for managing this aggressive brain cancer. In 2023, hospitals accounted for the largest revenue contribution, driven by their ability to provide a comprehensive range of treatment modalities, including surgical interventions, radiation therapy, and chemotherapy. With a high volume of surgeries performed for tumor resection and the necessity for post-operative care, hospitals experience substantial growth in this market. Furthermore, hospitals are outfitted with multidisciplinary teams consisting of neurosurgeons, oncologists, and radiologists, ensuring a coordinated and effective approach to patient care within the complex pharmaceutical supply chain of cancer treatments. Clinical guidelines and targeted therapy options further enhance the hospitals' capacity to offer advanced and specialized care for GBM patients.
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Glioblastoma Multiforme Treatment Market Segmentation
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The Global Cancer Observatory reports on the current state of Glioblastoma Multiforme (GBM), a malignant brain tumor classified as Grade IV Astrocytoma, and its associated treatment market. GBM, also known as glioblastoma brain tumor, is a type of CNS cancer that requires various treatment procedures. The market encompasses surgery options, radiation therapy, chemotherapy, immunotherapy, targeted therapies like Bevacizumab, novel therapies, combination therapies, corticosteroids such as Dexamethasone, drug classes, and personalized treatments considering tumor heterogeneity. Ambulatory surgical centers and the pharmaceutical supply chain play crucial roles in the healthcare delivery of GBM treatments. Treatment options include surgery, Temozolomide, Gene Therapy, and Personalized Medicine.
The Glioblastoma Multiforme (GBM) treatment market is a significant segment of the global pharmaceuticals industry, focusing on the development and production of innovative therapies for Central Nervous System (CNS) cancers, including malignant brain tumors such as GBM. Key growth drivers include the emergence of novel therapies and combination regimens, like Bevacizumab, which employs targeted therapy to inhibit angiogenesis. The expanding elderly population, with over a quarter of the US and European populations predicted to be aged 60 and above by 2050 and 2030, respectively, will further fuel market expansion. This trend underpins the global pharmaceuticals market's growth, which encompasses manufacturers and providers of equipment, supplies, pharmaceuticals, biotechnology, and life sciences tools and services.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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