Global brain tumor diagnosis and therapeutics market size are anticipated to reach USD 773.1 million by 2025. A brain tumor could be defined as an uncontrolled and abnormal proliferation of cells in the brain. The factors that propel the growth of the brain tumor diagnosis and therapeutics industry include increasing requirement of treatment for symptoms related to brain metastasis, advancement in R&D technologies, increased occurrence of cancer that spread to the brain, discoveries in novel drug transfer to brain tumor cells, increasing the competence of diagnosis, increasing awareness among population.
On the other hand, there are factors that could hamper the growth of the market including side effects associated with the chemotherapy and high cost of treatment. Brain tumor diagnosis & therapeutics market are anticipated to expand at a significant CAGR of 8.1% in the upcoming period as the scope, product types, and its applications are increasing across the globe.
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Brain tumor diagnosis and therapeutics industry could be explored by product type, diagnostic type, treatment type, end user, and geography. The industry could be explored by product type as Secondary Brain Tumor and Primary Brain Tumor (Gliomas, Meningioma, Pituitary Tumors, Astrocytoma’s and Others). The “Secondary Brain Tumor” segment led the brain tumor diagnosis and therapeutics market in 2017 and is anticipated to maintain its dominance by 2025. The key factors that may be attributed to the growth of market includes an increase in brain tumor incidences and CNS-related cancers in regions. Based on diagnostic type, the brain tumor diagnosis and therapeutics industry could span EEG, MRI, Molecular Testing, CT Scan, PET-CT Scan, and Others. The “CT Scan” segment led the brain tumor diagnosis & therapeutics market in 2016 and is anticipated to maintain its dominance by 2025. The market could be explored based on treatment type as Immunotherapy, Surgery, Targeted Therapy, Radiation Therapy, and Chemotherapy. The “Chemotherapy” segment led the brain tumor diagnosis & therapeutics industry in 2017 and is anticipated to maintain its dominance by 2025. The key factor that may be attributed to the growth of the market include the presence of a huge research pipeline by the industry players. The market could be explored by the end user as Individual Pharmacies, Hospital Pharmacies, and Ambulatory Surgical Centers.
North America accounted for the major market share of the brain tumor diagnosis and therapeutics in 2016 and will continue to lead in the forecast period. The factors that could be attributed to the growth include established healthcare infrastructure coupled with increasing consciousness regarding progressive technologies amongst the population in this region. Furthermore, increasing consumer disposable income supported by healthcare reimbursement and insurance policies in the U.S. is anticipated to spur development. North America is followed by the European region owing to growing government initiatives and increasing brain tumor cases.
Some of the key players that fuel the growth of the brain tumor diagnosis and therapeutics market comprise Bristol Myers Squibb, Genentech U.S.A, AstraZeneca plc, Hoffmann- La Roche, Pfizer, Inc., Antisense Pharma, Novartis AG, Dr. Reddy's Laboratories Ltd, Macleods Pharmaceutical Limited, Merck & Co, and Mankind Pharma. The leading companies are taking up partnerships, mergers and acquisitions, and joint ventures in order to boost the inorganic growth of the industry.
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