Glioblastoma Multiforme Treatment Market: Rise in Awareness Regarding Cancer and Novel Therapies to Boost the Market
The global glioblastoma multiforme treatment market is anticipated to rise significantly owing to key players adopting competitive strategies such as merger and acquisitions for marketing. According to a report by Transparency Market Research, the key players in the global glioblastoma multiforme treatment are adopting strategies such as development of biological drugs that helps in reducing the side effects in the patients which are caused due to consuming chemotherapeutic agents and immunosuppressant along with multiple therapies. The prominent players in the market are also collaborating with diagnostic laboratories so as to increase awareness level of the population in regards to the availability of options for treatment for the invasive diseases.
Some of the key players operating in the global glioblastoma multiforme market are Celldex Therapeutics, Inc., Abbvie, Inc., Brostol-Myers Squibb Co., F.Hoffman La Roche, and Exellixis, Inc. During 2013, F.Hoffman La Roche was the most efficient and promising source of glioblastoma multiforme treatment all because of “brain shuttle” which was the company’s novel drug delivery system.
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The global glioblastoma multiforme treatment market is expected to rise at a healthy CAGR of 11.4% during the forecast period of 2014 to 2022. The global market is expected to attain a valuation of $US0.91 bn by the end of 2022. The global glioblastoma multiforme product segment is led by bevacizumab product and is expected to rise in demand during the forecast period as it is more efficient than temozolomide. Geographically, the glioblastoma multiforme treatment market is led by North America. This region is consuming larger share in the market is expected to dominate the global market during the forecast period.
Rise in Awareness Regarding Cancer and Novel Therapies to Boost Global Glioblastoma Multiforme Market
The global glioblastoma multiforme treatment market is rising rapidly owing to increasing geriatric population. Rise in awareness about the brain tumor itself is generating demand for the glioblastoma multiforme treatment market. Various organizations across the globe are spreading awareness about the introduction of novel therapies thus, boosting the growth of market. Rise of modern techniques for diagnosis and rapid development of drug delivery technologies are likely to supplement the growth of the market. Increasing support from government to conduct research and development across the globe is adding fuel to the market.
Development of healthcare infrastructure is one of the reasons for market growth. The unmet medical needs require desperate novel treatment strategies thus, generating demand for the market. The glioblastoma multiforme treatment pipeline include a mix of immunotherapy, small molecules, biological therapeutics and other types of therapeutics that makes it ideal for treatment of disease. Advanced introduced in molecular biology and gene technology also has the potential to provide lucrative novel possibilities for effective treatment of diagnosed patients.
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Recurrence of Disease Likely to Hamper Market Growth
The global glioblastoma multiforme treatment market is anticipated to face certain restrains in the market that might hamper the growth of the market. The current FDA approved treatments are likely to cause neurotoxicity in patients which might stagger the growth of market. This treatment is not resistance against DNA modifying agents thus, hampering its growth in the market. The migration of malignant cells inside the adjacent brain tissues increasing the complexity of surgery is also affecting the market.
The treatment options lack efficiency as the mortality rate is characterized by rapid growth and poor survival rates. Survival rates of glioblastoma is 8.7% even after glioblastoma multiforme treatment being in the healthcare sector since last few years. The modalities have worked little to decrease the overall mortality rate of patients. Recurrence of the disease, invasiveness of GBM, and resistance of glioma stem cell against conventional modalities are other potential factors that will hamper the growth of the global glioblastoma multiforme treatment market.
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