Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Brain cancer is an overgrowth of cells in the brain that forms masses called tumors. It is a brain disorder in which cancer cells (malignant cells) arise in the brain tissue. Cancer cells multiply to produce a mass of cancer tissue (tumor) that interferes with brain functions such as muscle control, sensation, memory, and other body functions. Cancer cells that arise from brain tissue are called primary brain tumors, while tumors that spread from other parts of the body to the brain are called metastatic or secondary brain tumors.
Primary brain tumors can develop from a variety of brain tissues (for example, glial cells, astrocytes, and other brain cell types). Metastatic brain cancer is caused by the spread of cancer cells from a body organ to the brain. According to an article published in “Cancer Treatment Centers of America”, on September 2021, individuals with exposure to certain industrial chemicals or solvents were linked to an increased risk in developing brain cancer.
The global brain cancer therapeutics market is valued at US$ 2,539.0 million in 2021 and is expected to exhibit a CAGR of 9.8% during the forecast period (2021-2028).
Figure 1.Global Brain Cancer Therapeutics Market Share (%) in Terms of Value, by Indication, 2021
Increasing morbidity of brain cancer is expected to drive the market growth during the forecast period.
An increase in the prevalence of brain cancer is expected to drive the global brain cancer therapeutics market growth over the forecast period. For instance, according to the American Association of Neurological Surgeons (AANS), a scientific and educational association, approximately 200,000 new cases of brain metastases are diagnosed in the U.S. each year, and the number is expected to be growing with increased awareness and improved diagnostic techniques.
Brain Cancer Therapeutics Market Report Coverage
||Market Size in 2021:
||US$ 2,539.0 Mn
|Historical Data for:
||2017 to 2020
||2021 to 2028
|Forecast Period 2021 to 2028 CAGR:
||2028 Value Projection:
||US$ $ 4,897.4 Mn
- North America: U.S. and Canada
- Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
- Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
- Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
- Middle East: GCC Countries, Israel, and Rest of Middle East
- Africa: South Africa, North Africa, and Central Africa
- By Indication: Glioblastoma, Meningioma, Pituitary Tumors, Others
- By Treatment Type: Targeted Therapy, Chemotherapy, Immunotherapy, Others
- By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, Online Pharmacies
Amgen Inc., AstraZeneca PLC, F. Hoffmann-La Roche Ltd, Pfizer Inc., GlaxoSmithKline PLC, Novartis AG, Johnson & Johnson, Merck & Co, Bayer AG, and Bristol-Myers Squibb Company
- Increasing prevalence of brain cancer
- Increasing R&D spending for the development of new treatment methods and medical equipment
- Increased research on novel therapies
|Restraints & Challenges:
- Lack of expertise and inadequate knowledge about brain cancer
- Few brain cancer specific drugs
- High cost of treatment
- Lesser accessibility
Figure 2.Global Brain Cancer Therapeutics Market Share (%), by Distribution Channel, 2021
Increasing R&D spending for the development of new treatment methods and medical equipment is expected to drive the market growth during the forecast period.
The increasing R&D spending for the development of new treatment methods and medical equipment is expected to drive the market growth during the forecast period. For instance, according to a study published by ‘Nature Medicine’ in January 2020, a novel method that combines advanced optical imaging with an artificial intelligence algorithm was found to produce accurate and real-time intraoperative diagnosis of brain tumors in less than 3 minutes.
Global Brain Cancer Therapeutics Market– Impact of Coronavirus (COVID-19) Pandemic
Since the COVID-19 outbreak in December 2019, the disease has spread to over 100 countries across the globe and the World Health Organization declared it a public health emergency on 30 January 2020.
COVID-19 is a viral infection and any type of infection puts brain tumor patients in more danger because of more susceptibility as the patients are already immune-suppressed. Even if they are not on steroids, all brain tumor patients are already immune-suppressed, and COVID 19 can further put them at a higher risk and make it more difficult to finish the clinical trials effectively.
Oncology is the world’s most valuable pharmaceutical sector and will continue to be the same, driven by more innovation throughout the next decade and beyond. For instance, according to an article published by McKinsey & Company, on September 2020, Oncology is a declared focus area for the ten largest pharmaceutical companies, with an estimated 1,700 clinical compounds in development which is approximately one-third of the global clinical pipeline. However, the COVID-19 pandemic crisis has clearly had considerable impact on the practice of cancer treatment, the consequences of which are expected to be felt for some time to come.
Global Brain Cancer Therapeutics Market: Restraint
The major factors that hinder the growth of the global brain cancer therapeutics market include lack of expertise and inadequate knowledge about brain cancer, few brain cancer specific drugs, high cost of treatment, and lesser accessibility.
Major players operating in the global brain cancer therapeutics market include Amgen Inc., AstraZeneca PLC, F. Hoffmann-La Roche Ltd, Pfizer Inc., GlaxoSmithKline PLC, Novartis AG, Johnson & Johnson, Merck & Co, Bayer AG, and Bristol-Myers Squibb Company