New York, Feb. 23, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Brain Tumor Drugs Global Market Report 2023" - https://www.reportlinker.com/p06245028/?utm_source=GNW
The global brain tumor drugs market will grow from $3.49 billion in 2022 to $3.74 billion in 2023 at a compound annual growth rate (CAGR) of 7.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The brain tumor drugs market is expected to grow to $4.74 billion in 2027 at a CAGR of 6.1%.
The brain tumor drugs market consists of sales Afinitor (Everolimus), Afinitor Disperz (Everolimus), Belzutifan, and Bevacizumab.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Brain tumor drugs refer to the drugs or medications that are used to treat brain tumor.Chemotherapy, hormone therapies, anticonvulsants, and painkillers are among the drugs used to treat brain tumours.
While other prescription drugs are used to manage symptoms while the tumour is being treated, chemotherapy works to reduce or destroy brain tumours.
North America is the largest region in the brain tumor drugs market in 2022.Middle East is expected to be the fastest growing region in the forecast period.
The regions covered in the brain tumor drugs market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of drugs in brain tumors drugs are temozolomide, carmustine, cisplatin, bevacizumab, gefitinib, and erlotinib. Temozolomide is a drug that is intended to treat some types of brain cancer (e.g., glioblastomamultiforme, anaplastic astrocytoma) in individuals who have had tumours return or who have recently been diagnosed with tumours. It’s one of a class of drugs called antineoplastics (cancer medicines). The different types include medulloblastoma, astrocytoma, oligodendroglioma, primitive neuroectodermal (PNET), and others (glioma, acoustic neuroma, meningioma) and are used in various sectors such as hospital pharmacies, clinics, and others.
The major driving factor responsible for the growth of the Brain Tumor market is the increasing prevalence of Neurological Disorders, worldwide.Neurological Disorders are identified as one of the most prevalent disorders, due to longer life expectancy, increasing exposure to infections, and sedentary lifestyles.
For example, as per the National Brain Tumor Society, around 700,000 people in the United States around 700,00 people are having a primary brain tumor, and around 86,000 more will be diagnosed. The increasing number of patients with neurological disorders including brain tumor is leading to a rise in the demand for the drugs used in their treatment.
The increasing use of targeted therapies is acting as a restraint on the Brain Tumor drug market.Targeted cancer therapies are drugs or substances which block the growth of cancer by interfering with molecules that are more specifically involved in cancer cell progression than in normal cell activity.
The goal of targeted cancer therapies is to eliminate cancerous cells in the body while leaving normal cells unharmed.By focusing on changes in the cell that are specific to cancer, this therapy may prove to be more effective than traditional chemotherapy and radiotherapy.
For example, Everolimus is a targeted therapy that especially blocks cancer cells from growing and spreading.Similarly, Bevacizumab prevents the regeneration of cancer cells, unlike chemical drugs which cannot prevent regeneration.
This rising popularity of targeted therapies is expected to affect the sales of conventional chemical Brain Tumor drugs, thus restraining the growth of the market during the forecast period.
Companies in the brain tumor market are focusing on the use of nanotechnology for treatment.The nanoparticles are being used to carry drugs in combination, directly to the cancer cells or into the tumor.
This technology has also led to a reduction in the dosage of the drugs, improved shelf life, and reduced toxicity.A few nanodrugs are proving to be useful in overcoming the blood-brain barrier, which was a significant challenge in the treatment of Brain tumors.
For instance, Liposomes nanoparticles facilitate easy delivery of drugs to the core cancer cells, these particles if coated with transferrin can even pass through the blood-brain barrier. Companies including GE Healthcare, Sigma-Tau Pharmaceuticals Inc., Johnson & Johnson, Merck & Company Inc., Pfizer, Inc., and Celgene Corporation are adopting this technology to improve the available techniques of medication and treatment.
The brain tumor market is governed by regulatory authorities such as the European Medicines Agency (EMA) and the US Food and Drug Administration (FDA).The regulatory body requires the companies in the industry to adhere to the same rules for conducting clinical trials, consistently throughout the region.
These rules are relating to the transparency of information and maintaining safety standards while conducting clinical trials of newly discovered drugs and therapies throughout the EU. The regulation also encourages cross-border cooperation for making the scope of these clinical tests wider.
In December 2021, Sanofi, a France-based pharmaceutical company acquired Amunix Pharmaceuticals Inc. for a deal amount of $1 billion. Through this acquisition, Sanofi’s focus is on developing potentially transformative cancer therapies in immuno-oncology. Amunix Pharmaceuticals Inc. is a US-based pharmaceutical company that also includes brain tumor drugs.
The countries covered in the brain tumor drugs market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).
The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.
The brain tumor drugs market research report is one of a series of new reports that provides brain tumor drugs market statistics, including brain tumor drugs industry global market size, regional shares, competitors with a brain tumor drugs market share, detailed brain tumor drugs market segments, market trends and opportunities, and any further data you may need to thrive in the brain tumor drugs industry. This brain tumor drugs market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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