Report ID: SQMIG35D2105
Report ID:
SQMIG35D2105 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
65 |
Figures:
75
Glioblastoma Multiforme Treatment Market size was valued at USD 2.72 Billion in 2023 and is poised to grow from USD 2.96 Billion in 2024 to USD 5.87 Billion by 2032, growing at a CAGR of 8.90% during the forecast period (2025-2032).
Owing to a variety of critical factors, the glioblastoma multiforme treatment market growth is expected to boost at a significant rate. The increasing prevalence of glioblastoma, coupled with an increased focus on research and development (R&D), is increasingly driving demand in the market. A strong product pipeline from major pharmaceutical companies, coupled with a rising incidence of brain tumors globally, is expected to drive growth in the market further. The Global Cancer Observatory reports 251,329 deaths from brain and central nervous system cancers across the globe in 2020 with 308,102 diagnoses. In 2021, the World Health Organization (WHO) reported more than 245,000 instances of brain and nervous system tumors, which requires efficient treatment options for this aggressive malignancy. However, the market is also constrained by several challenges facing it such as the expensive cost of care and the inability to come up with effective drugs. Pharmaceutical companies can't easily come up with effective drugs for GBM since it is quite aggressive, resistant to medication, and has a poor outcome. In addition, the high-priced novel drugs may limit access by patients mainly in developing countries. Despite all these challenges, there are a lot of opportunities in the glioblastoma multiforme treatment industry, especially related to creating immunotherapies, targeted therapies, and innovative therapy combinations. Due to advancements in personalized medicine and positive clinical trial results, which also open the door to increased chances of better outcomes for patients, this market has immense growth potential.
US Glioblastoma Multiforme Treatment Market is poised to grow at a sustainable CAGR for the next forecast year.
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Report ID: SQMIG35D2105