Brain Tumor Diagnosis and Treatment Market Size Report, Industry Share, Analysis, Growth, 2032

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The brain is the most important organ of the human body, which consists of nerve cells and other supportive tissues. The development of cancerous cells in the brain is known as a brain tumor. There are two major types of brain tumor, namely secondary brain tumor and primary brain tumor. Primary brain tumors can either be malignant or benign, whereas secondary brain tumors are metastatic, i.e., they can spread to other organs as well.

According to CBTRUS (Central Brain Tumor Registry of the United States), in 2016, 80,000 new cases of nonmalignant, primary malignant, and CNS cancers were anticipated to be diagnosed in the U.S. in 2017. The rising incidence of brain tumor among the population is primarily fueling the growth of the global market for brain tumor diagnosis and treatment. The increasing geriatric population, development in diagnostics and treatment equipment, and ongoing research in the development of new technologies to treat cancers are anticipated to fuel the growth of the global brain tumor diagnosis and treatment market in the near future.

The brain tumor diagnosis and treatment market are segmented based on product type, diagnosis type, and treatment type. Based on product type, the market for brain tumor diagnosis and treatment is bifurcated into primary brain tumor and secondary brain tumor. Primary brain tumors are further sub-segmented into gliomas, meningioma, pituitary tumors, astrocytomas, and other primary brain tumors. The primary brain tumor segment is anticipated to dominate the market during the forecast period, owing to the increase in the occurrences of meningioma cancer. Based on diagnosis type, this market is classified into MRI, CT scan, PET-CT scan, EEG, molecular testing, and others. The CT scan segment is anticipated to lead the diagnosis type segment for this market. The treatment type segment of the brain tumor diagnosis and treatment market includes chemotherapy, radiation therapy, targeted therapy, surgery, and immunotherapy. The surgery segment is estimated to dominate the brain tumor diagnosis and treatment market during the forecast period.

North America is projected to dominate the market during the forecast period, due to a rapid increase in research related to the development of techniques to treat brain tumor and increase in awareness about the treatments and management of brain tumor among the population. Europe is expected to show the highest growth owing to the rise in government initiatives, an increase in the prevalence of brain tumors in countries like the UK, and the growth of the geriatric population. Additionally, the growing awareness about brain tumor treatments and an increase in the investments made by companies are other factors fueling the growth of the brain tumor diagnosis and treatment market.

The main players in the brain tumor diagnosis and treatment market are GE Healthcare, Merck & Co. Inc., AstraZeneca, Hitachi Medical Corporation, Carestream Health, Pfizer, Inc., Siemens Healthineers, Philips Healthcare, Toshiba Medical Systems Corporation, and Shimadzu Corporation. These companies focus on entering agreements and partnership to develop products and provide quality products. For instance, in 2016, Pfizer Inc. acquired Medivation, a company which is involved in the development of drugs used for treating cancer.