Adult Malignant Glioma Therapeutics Global Market Report 2024: Significant Growth by 2028 Driven by Advances in Immunotherapy and Targeted Therapies
Dublin, March 19, 2024 (GLOBE NEWSWIRE) -- The "Adult Malignant Glioma Therapeutics Global Market Report 2024" report has been added to * ResearchAndMarkets.com's* offering.
The adult malignant glioma therapeutics market size is expected to see strong growth in the next few years. It will grow to $3.23 billion in 2028 at a compound annual growth rate (CAGR) of 9.5%. The anticipated growth in the forecast period for adult malignant glioma therapeutics can be attributed to advancements in immunotherapy, targeted therapies, biomarker discoveries, the application of liquid biopsy techniques, and the expansion of access programs. These trends reflect a shift towards patient-centric drug development, accelerated regulatory pathways such as fast-track and breakthrough designations, innovations in drug delivery systems, collaborative research initiatives, and the integration of artificial intelligence in enhancing treatment approaches.
The upward trajectory in brain tumor cases is anticipated to be a significant driver in propelling the growth of the adult malignant glioma therapeutics market. Brain tumors represent anomalous masses of tissue characterized by the abnormal proliferation and unchecked growth of cells, circumventing the usual regulatory mechanisms. Adult malignant glioma, a specific type of brain tumor, comprises cells exhibiting abnormal and uncontrolled growth patterns. Treatment for adult malignant glioma typically involves a combination of surgical procedures, radiation therapy, and chemotherapy. Illustrating this trend, as per the American Cancer Society's January 2023 report, the number of cases related to brain and nervous system cancers escalated to 24,810 in 2023, demonstrating a notable 3.85% increase from 23,890 recorded in 2020. Thus, the mounting instances of brain tumors serve as a driving force behind the expansion of the adult malignant glioma therapeutics market.
The infusion of government funding dedicated to brain cancer research is poised to significantly propel the growth trajectory of the adult malignant glioma therapeutics market moving forward. Government funding entails financial support disbursed by governmental bodies at various levels - federal, state, or local - towards initiatives, programs, projects, organizations, or individuals. The allocation of government funds for brain cancer research holds substantial promise for advancing adult malignant glioma therapeutics. This funding can significantly aid in the development of innovative treatments, tailored drug design, focusing on pyrimidine synthesis, and expediting orphan drug approvals. For example, in June 2023, the Australian Department of Health and Aged Care initiated the Australian Brain Cancer Mission, committing a fund of $136.66 million specifically aimed at supporting brain cancer research endeavors. The primary objective of this initiative is to double survival rates and enhance the overall quality of life for brain cancer patients, including those with anaplastic astrocytoma. Consequently, government funding geared towards brain cancer research stands as a pivotal driver propelling the adult malignant glioma therapeutics market.
The high expenses associated with chemotherapy stand as a significant constraint impacting the global adult malignant glioma therapeutics market. Chemotherapy involves the utilization of potent medications, particularly anti-cancer drugs, aimed at destroying rapidly dividing cells within the body. The fluctuating costs of chemotherapy, influenced by specific drugs and cancer types, often act as a deterrent for patients seeking access to treatment, potentially affecting their overall health and financial well-being. For instance, as reported by the National Cancer Institute in July 2022, the average expenses for medical care and medications during the first year following a cancer diagnosis exceeded $42,000, with certain procedures reaching costs surpassing $1 million. Consequently, the steep cost of chemotherapy is poised to negatively impact the adult malignant glioma therapeutics market.
North America was the largest region in the adult malignant glioma therapeutics market in 2023. Asia Pacific is expected to be the fastest-growing region in the forecast period.
The adult malignant glioma therapeutics market consists of revenues earned by entities by providing services such as resection, subtotal resection, and biopsy. The market value includes the value of related goods sold by the service provider or included within the service offering. The adult malignant glioma therapeutics market consists of sales of temozolomide, bevacizumab, carmustine, and monoclonal antibodies. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The primary subtypes of adult malignant glioma therapeutics include glioblastoma multiforme, anaplastic astrocytoma, anaplastic oligodendroglioma, anaplastic oligoastrocytoma, and others. Glioblastoma multiforme (GBM), known for its aggressive nature, involves rapid tumor growth and the infiltration of neighboring brain tissue, typically without distant organ metastasis. Therapeutic interventions in this domain encompass chemotherapy, targeted therapy, radiotherapy, and other modalities. These treatments are administered in various healthcare settings, including hospitals, specialty clinics, and cancer and radiation therapy centers.
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