Glioblastoma Multiforme Treatment Market To Reach $5.10 Billion By 2030

Glioblastoma Multiforme Treatment Market Growth & Trends 

The global glioblastoma multiforme treatment market size is expected to reach USD 5.10 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 9.7% from 2023 to 2030. The market is driven by the rising prevalence of the disease and increasing approval for novel therapy and combination therapy.

In recent years, the industry has been growing rapidly owing to the introduction of innovative products and rising interest of major pharmaceutical companies in the market due to favorable guidelines and rising incidence of the disease. For instance, companies such as Bristol Myers Squibb; CNS Pharmaceuticals, Inc.; and Bayer have novel products in the pipeline for glioblastoma multiforme. These products are likely to boost competitive rivalry in the market in the coming years.

Moreover, companies are collaborating to develop novel treatments. For instance, in October 2019, Advaxis, Inc., a clinical-stage biotechnology company, announced a research collaboration agreement with the University of California for the development and commercialization of novel immunotherapy by using the company’s Lm Technology in mouse tumor models of glioblastoma multiforme. An increase in collaborations between researchers and market players is expected to boost the development of novel and effective treatment options for glioblastoma multiforme.

Existing companies are willing to acquire new companies with pipeline products to diversify their product portfolio. For instance, in May 2019, Merck announced the upfront USD 1.1 billion acquisition of Peloton Therapeutics, which grants it access to the PT2977 under trial glioblastoma drug. This acquisition is likely to strengthen its pipeline and improve its future revenue-generation ability.

Various initiatives undertaken by the governments and non-government bodies across the globe to increase awareness by educating people living with glioblastoma multiforme and raising funds for R&D activities and treatment are expected to fuel the glioblastoma multiforme (GBM) treatment market growth during the forecast period. For instance, Ping Mobile, a mobile messaging platform, has launched a mobile campaign to increase awareness about brain cancer. This helps in raising awareness about glioblastoma multiforme and motivating people to donate money for glioblastoma multiforme research activities.

Organizations such as the National Brain Tumor Society, Brain Tumour Foundation of Canada, and Cure Brain Cancer Foundation are also involved in many awareness campaigns to raise awareness among people about the condition. In the U.K., March is Brain Tumor Awareness month, a campaign established by member charities of Brain Tumor Research. The main aim of the campaign is to spread awareness about the lack of funding for brain tumor research, and it helps people understand brain tumors and their treatment. Moreover, Novocure undertook many activities to spread awareness about glioblastoma multiforme during Brain Tumor Awareness Month.

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Glioblastoma Multiforme Treatment Market Report Highlights

• Based on treatment, in 2020, radiation therapy dominated the market with a revenue share of 37.0% in 2022, owing to improved survival rates, as radiation therapy is most often recommended as the first line of treatment or in combination with chemotherapy and surgery

• By drug class, the others segment accounted for the largest revenue share in 2022. The segment includes everolimus, corticosteroids, and 5-aminolevulinic acid (5-ALA)

• The hospital segment held the largest revenue share in the glioblastoma multiforme treatment market in 2022 and is anticipated to maintain its leading position during the forecast period. Patients prefer hospitals in terms of treatment accessibility and convenience

• Asia Pacific is expected to register the fastest growth rate of 11.1% over the forecast period, owing to various factors such as the entry of generics of temozolomide in the market, improving economy, rising geriatric population, and growing investments in the healthcare sector

• North America accounted for the largest share of 43.4% in 2022. Government support for the development of the healthcare sector, high awareness about rare disorders, easy accessibility to quality medical facilities, and favorable reimbursement policies are among the key factors responsible for the regional market growth

Glioblastoma Multiforme Treatment Market Segmentation

Grand View Research has segmented the global glioblastoma multiforme treatment market on the basis of treatment, drug class, end-use, and region:

Glioblastoma Multiforme Treatment Outlook (Revenue, USD Million, 2018 - 2030)

• Surgery

• Radiation Therapy

• Chemotherapy

• Targeted Therapy

• Tumor Treating Field (TTF) Therapy

• Immunotherapy

Glioblastoma Multiforme Treatment Drug Class Outlook (Revenue, USD Million, 2018 - 2030)

• Temozolomide

• Bevacizumab

• Lomustine

• Carmustine Wafers

• Others

Glioblastoma Multiforme Treatment End-use Outlook (Revenue, USD Million, 2018 - 2030)

• Hospitals

• Clinics

• Ambulatory Surgical Centers

Glioblastoma Multiforme Treatment Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

• Europe

  • UK

  • Germany

  • France

  • Italy

  • Spain

  • Denmark

  • Sweden

  • Norway

• Asia Pacific

  • Japan

  • China

  • India

  • Australia

  • Thailand

  • South Korea

• Latin America

  • Brazil

  • Mexico

  • Argentina

• Middle East and Africa

  • Saudi Arabia

  • South Africa

  • UAE

  • Kuwait

List of Key Players of Glioblastoma Multiforme Treatment Market

• Merck & Co., Inc.

• Amgen, Inc.

• F. Hoffmann-La Roche Ltd.

• Pfizer Inc.

• Teva Pharmaceutical Industries Ltd.

• Sun Pharmaceutical Industries Ltd.

• Arbor Pharmaceuticals, LLC

• Amneal Pharmaceuticals

• Karyopharm Therapeutics, Inc.

• Sumitomo Dainippon Pharma Oncology, Inc. (Boston Biomedical, Inc.)