Glioblastoma Multiforme Treatment (GBM) Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2022
Albany, NY -- (SBWIRE) -- 01/16/2017 -- A new Transparency Market Research report states that the global glioblastoma treatment market stood at US$0.34 bn in 2013 and is predicted to reach US$0.91 bn in 2022. It is predicted to expand at a CAGR of 11.40% from 2014 to 2022. The title of the report is "Glioblastoma Multiforme Treatment (GBM) Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2022."
Glioblastoma multiforme (GBM) is the most lethal and common brain tumor in adults. The treatment modalities available in the market at present include surgical resection, followed by radiotherapy and chemotherapy. Despite being around in the healthcare industry since the last few years, these modalities have done little to decrease the overall mortality rate in patients. Recurrence of disease, glioma stem cell resistance to conventional modalities, and invasiveness of GBM are a few factors hampering the success rate of available treatment methods.
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Novel treatment strategies are, therefore, desperately required to address such unmet medical needs, and the GBM pipeline already includes a mix of small molecules, immunotherapy, biological, and other types of therapeutics. Advances introduced in gene technology and molecular biology also provide lucrative novel possibilities for efficient treatment of patients diagnosed with GBM. The report discusses the aforementioned factors in detail as the most crucial growth drivers of the glioblastoma treatment market.
Some of the glioblastoma treatments approved by the FDA include bevacozumab, temozolomide, and carmustine. Of these, carmustine, known by the brand name Gliadel (a product of Arbor Pharmaceuticals, LLC), is surgical implant. Likewise, bevacozumab, brand named Avastin by Genetech/Roche, is used for intravenous therapy and temozolomide (brand named Temodal/Temodar/Temcad) is primarily recommended for oral or intravenous chemotherapy. The report analyzes the market dynamics of these available drugs and therapies. It also studies their effectiveness in glioblastoma treatment to measure the scope for novel therapies.
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According to the report, rising awareness regarding the types of brain tumors, increased funding for R&D in drug delivery technologies, and the introduction of modern diagnostic techniques fuel the market for glioblastoma treatment. Among the available modalities, in 2013, the glioblastoma treatment market was dominated by temozolomide. However, the drug recently lost its patent, allowing generic drugs to foray into the market and significantly bring down the market share of temozolomide.
Among the regional markets for glioblastoma treatment, North America occupied the leading position due to the high incidence of glioblastoma multiforme in the region. The presence of an increasing number of associations, such as the National Brain Tumor Society, the American Brain Tumor Association, the Brain Tumor Foundation of Canada, and others, that are engaged in boosting the awareness regarding GBM across the region is aiding the growth of the North America glioblastoma treatment market.
Moreover, most prominent GBM drug manufacturers are located in the region, which further fuels the glioblastoma treatment market in North America. Asia Pacific, according to the report, will emerge as the most lucrative market for glioblastoma treatment drugs in the coming years. Rising awareness regarding GBM and rapid development of the healthcare infrastructure in several countries in Asia Pacific is propelling the glioblastoma treatment market in the region.