The global for brain tumor diagnosis and treatments market was worth US$406.0 mn in 2016, and is estimated to reach a valuation of US$840.7 mn by the end of the forecast period, which is 2025.
Albany, NY -- (SBWIRE) -- 10/05/2017 -- The global brain tumor diagnosis and treatment market is projected to grow at over 8% CAGR during the forecast period 2017-2025, and surpass US$ 840 Mn in revenues. These insights are according to a new research added to the repository of Market Research Reports Search Engine (MRRSE). The report titled, "Global Brain Tumor Diagnosis and Treatments Market - Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017-2025" offers a comprehensive outlook on the key factors impacting the growth of the market during the period 2017-2025.
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According to the report, the key factors that are impacting the market including rising focus of governments around the globe to diagnose brain tumor at an early stage so that proper treatment can be administered. Increase in the incidences of brain tumor, combined with advent of advent diagnostic tools has meant that more cases are detected at an early stage. However, high cost of brain tumor diagnostic tests remains a key impediment, especially in developing countries, where public health infrastructure is yet at a developing stage. The report opines that these gaps will pose challenges to the growth of the market in developing countries.
By product type, the report has segmented the market into primary and secondary brain tumors. Currently, detection and treatment of primary brain tumors accounts for a higher revenue share of the market. This segment accounted for nearly 75% revenue share by product type. The primary brain tumor segment has been further sub-segmented into tumors, including meningioma, gliomas, astrocytomas, and pituitary tumors. Among these, meningioma remains the prevalent tumor type in Europe and Asia Pacific. Increasing prevalence of primary brain tumor remains a key growth driver for sales of diagnostic products and healthcare related services. The report this segment to increase in revenues at nearly 9% CAGR through 2025.
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Among the various diagnostic tests available to healthcare professionals, CT scans remain preferred among healthcare professionals, owing to their efficacy in differentiating the subtle signs and symptoms of brain tumors. CT scans also have the provision of clicking 3D images, which gives healthcare professionals a detailed view on the structure of the brain, and any deformities therein. The CT scan segment currently accounts for nearly 35% revenue share of the market, and it is likely that it will continue to be the leading segment throughout the forecast period.
U.S. in North America, Germany in the U.K., and China & India in APAC are the key markets for brain tumor diagnostic and treatment services. The markets in these regions will continue to be impacted by local factors and government regulations.
Key players profiled in the market include Philips Healthcare, GE Healthcare, Toshiba Medical Systems, Pfizer, Inc., AstraZeneca, Merck & Co., Inc., Siemens Healthineers, Carestream Health, Hitachi Medical Corporation, and Shimadzu Corporation.
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