Global Brain Tumor Therapeutics Market 2019-2023 | 12% CAGR Projection Over the Next Five Years | Technavio
LONDON--(BUSINESS WIRE)--May 22, 2019--
The global brain tumor therapeutics market is expected to post a CAGR of close to 12% during the period 2019-2023, according to the latest market research report by Technavio.
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Technavio has published a new market research report on the global brain tumor therapeutics market from 2019-2023. (Graphic: Business Wire)
A key factor driving the growth of the global brain tumor therapeutics market is the high morbidity of brain tumors. Although most brain tumors are benign in nature, the morbidity of these tumors is very high, as they manifest the symptoms of a malignant tumor. If not removed on time, these tumors can become life-threatening and can significantly affect the quality of life of the patient. The morbid nature of malignant tumors has created a huge unmet need in the market. As a result, vendors are conducting heavy research on developing novel therapies that are a combination of either vaccines or CAR T-cells with various checkpoint inhibitors. Thus, the high morbidity of brain tumors will drive the growth of the brain tumor therapeutics market during the forecast period.
As per Technavio, the advent of novel therapies will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global brain tumor therapeutics market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global brain tumor therapeutics market: Advent of novel therapies
The brain tumor therapeutics market is witnessing the emergence of novel therapies with constant efforts from researchers on advanced therapies for the treatment of the indication. Brain cancer is one of the most heavily researched cancer types in most of the developed countries, and the pipeline for brain cancer treatment is growing significantly. A significant number of drugs are expected to receive marketing approval during the second half of the forecast period. The high efficacy of novel drugs will result in increased demand, thereby adding significant value to the growth of the global brain tumor therapeutics market.
“Apart from the advent of novel therapies, factors such as growing awareness campaigns, special drug designations, and the increasing prevalence of brain cancer will have a significant impact on the growth of the brain tumor therapeutics market during the forecast period,” says a senior research analyst at Technavio.
Global brain tumor therapeutics market: Segmentation analysis
This market research report segments the global brain tumor therapeutics market by type (small molecules, and biologics) and geographic regions (North America, Europe, Asia, and ROW).
The North American region led the market in 2018, followed by Europe, Asia, and ROW respectively. The presence of the US, the world’s largest pharmaceutical market, is driving the market growth in the region. Furthermore, the brain tumor therapeutics market is expected to grow significantly in North America due to the increasing number of awareness campaigns conducted by various organizations and vendors in the market to increase awareness about brain cancer indications.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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INDUSTRY KEYWORD: HEALTH PHARMACEUTICAL
SOURCE: Technavio Research
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