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

Industry Prospective:

The Brain Tumor Diagnosis and Treatment Market was worth around USD 1,395.7 million in 2021 and is estimated to grow to about USD 2,036.5 million by 2028, with a compound annual growth rate (CAGR) of approximately 6.5 percent over the forecast period. The report analyzes the Brain Tumor Diagnosis and Treatment Market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the Brain Tumor Diagnosis and Treatment Market.

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Brain Tumor Diagnosis and Treatment Market: Overview

When abnormal cells develop within the brain, they produce a brain tumor. The growing geriatric population and increased prevalence of brain tumors are significant factors driving the global growth of the brain tumor diagnosis and treatment market. Additionally, the increasing number of technical developments, as well as rising levels of investment in research and development activities, would contribute to the expansion of the brain tumor diagnosis and treatment market during the anticipated period. The growing burden of brain tumors increased awareness, and increased R&D on cancer therapies all contribute to the expansion. Rising R&D initiatives to develop immunotherapeutics to treat brain cancers, as well as ongoing government support to develop new therapies, are expected to drive segment growth throughout the projection period. Moreover, government measures to improve healthcare infrastructure, together with joint efforts by pharmaceutical companies to raise knowledge about the availability of various medications, are likely to fuel market expansion throughout the projection period.

Covid-19 Impact

The COVID-19 epidemic has had a favorable influence on the global market for brain tumor treatments. In the case of COVID-19, various sectors have observed an upsurge in drug demand. Pharmaceutical businesses in this sector have greatly improved their supply chain management, boosted their R&D capabilities, and invested more in manufacturing management and quality control. Other major players have observed a similar brain tumor medicine sales scenario. They observed an increase in global demand for oncology medications. Market participants have responded to the rising demand for cancer medications caused by the global COVID-19 pandemic.

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Brain Tumor Diagnosis and Treatment Market: Driver

Product Demand will be driven by the Rising Incidence and Prevalence of Neurological Disorders

The rapidly increasing frequency of neurological illnesses in adults and children around the world is fuelling market expansion. Brain illnesses, which include psychiatric, developmental, and neurodegenerative diseases, are a growing cause of morbidity worldwide. This can be attributable partly to the growing geriatric population. According to the American Medical Association (AMA), by 2050, more than 20% of the world population would be over the age of 65. Furthermore, by 2030, at least 60% of those aged 65 and up will be living with more than one chronic illness. As a result, the increased prevalence of various neurological disorders worldwide is a major driver driving the growth of the brain tumor medications market.

Brain Tumor Diagnosis and Treatment Market: Restraint

The Increasing Use of Targeted Therapies Will Restriction Market Growth

The increasing use of tailored medicines will be a big impediment. Cancer medications that target cancer cells without hurting normal cells are known as targeted therapies. When compared to traditional chemotherapy and radiation therapy procedures, targeted therapy has proven to be more effective and has fewer side effects. As a result, the growing adoption of these therapies is predicted to disrupt the revenue generated by traditional brain tumor medications, hampering the market's expansion over the forecast period.

Report Scope:

Brain Tumor Diagnosis and Treatment Market: Segmentation

The Brain Tumor Diagnosis and Treatment Market are segregated based on Diagnosis, Treatment, and Product Type.

By Diagnosis, the market is classified into MRI, CT Scan, PET-CT Scan, EEG, Molecular Testing, and Others. It has been highlighted that CT-Scans continue to be the most recommended method of brain cancer diagnosis, owing to their capacity to accurately discern between bone masses and elaborate soft tissues, as well as the possibility to capture 3D images in a series from several angles. Furthermore, future technical improvements in new mobile CT-Scan devices are projected to contribute to the growth of the CT-Scan diagnosis segment throughout the forecast period.

By Treatment, the market is classified into Surgery, Radiation Therapy, Radiosurgery, Chemotherapy, Targeted Drug Therapy, and Immunotherapy. The Immunotherapy Market is expected to expand rapidly. Immunotherapy is a method of treating disease by either activating or inhibiting the immune system. Vaccines are an exciting new type of immunotherapy that activates the immune system to combat cancer. Immunotherapy has been shown to be beneficial in the treatment of glioblastoma multiforme, the most common primary malignant brain tumor in adults. Thus, increased R&D initiatives to develop immunotherapeutics to treat brain tumors, as well as ongoing government support to develop chance therapies, are expected to boost industry expansion throughout the projection period.

Recent Developments

• In 2020, With the approval of an experimental new drug application, Berubicin's producer will be able to begin testing the investigational medicine in people with glioblastoma who have already failed their first treatment.

Regional Landscape

The market for brain tumor diagnostics and therapy is dominated by North America. This region's dominance in this market can be attributed to the greater diagnostic rate of malignancies such as glioblastoma in the United States. Greater access to advanced therapy is also expected to contribute to the region's supremacy. Another important aspect influencing the regional market's expansion is the frequent introduction of new goods, paired with the region's strong presence of significant companies.

Europe will hold the second-largest market share in the forecast period, due to increased R&D funding and investments in the development of novel brain cancer drugs. This, together with vigorous government initiatives to raise awareness and access to brain tumor treatment, is expected to drive the growth of the brain tumor market throughout the forecast period. In addition, increased demand for oncology medications, rising brain cancer prevalence, and an aging population is driving the regional market.

Competitive Landscape

Some of the main competitors dominating the Brain Tumor Diagnosis and Treatment Market include - GE Healthcare, Merck & Co., Inc., AstraZeneca, Carestream Health, Philips Healthcare, Siemens Healthcare Private Limited, Shimadzu Corporation, Hitachi Medical Systems, Pfizer.Inc, and Toshiba Medical Systems.

Brain Tumor Diagnosis and Treatment Market is segmented as follows:

By Diagnosis Type

• MRI
• CT Scan
• PET-CT Scan
• EEG
• Molecular Testing
• Others

By Treatment Type

• Surgery
• Radiation Therapy
• Radiosurgery
• Chemotherapy
• Targeted Drug Therapy
• Immunotherapy

By Product Type

• Primary Brain Tumor
• Secondary Brain Tumor

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa