The Global Brain Tumor Diagnosis And Therapeutics Market is anticipated to gain traction due to increasing research and development for inventions of novel drugs, and increasing investments on developing healthcare infrastructure by the local governments.
A brain tumor is unorganized, uncontrolled and atypical or irregular proliferation of brain cells. The tumor can be malignant or benign. The brain tumor in time get compressed and damage other structures of the brain. According to the World Health Organizations (WHO) 2012 report, approximately 14 million new cases of cancer and about 8.2 million death cases were reported. The number of people suffering cancer is still on the surge. Which require proper diagnosis and medication. Moreover, according to American Brain Tumor Association (ABTA), there are generally two types of brain tumors that are primary and secondary. Primary brain tumors arise from brain tissue whereas secondary tumors ascend from any other body parts and then spread to the brain.
Gliomas are the utmost common type of primary tumors which rises from brain’s glial tissue. Glioblastoma multiform is a higher grade rapidly growing tumor type in contrast to another type of tumors. Advanced diagnosis and drugs are available for the treatment of brain tumors.
Increased usage of advanced technology and inventions of novel drugs for the treatment of brain cancer boosting the global market
The global brain tumor diagnosis and therapeutics market are majorly driven by factors such as growing occurrence of brain cancer, advancement in R&D technologies, inventions in novel drug transfer to brain tumor cells, and increasing shares and expenses for the diagnosis and treatment of brain cancer associated symptoms. In addition, the healthcare segment is perceiving increasing public-private partnerships (PPPs), which are evolving the diagnostic imaging and radiology services. The introduction of advanced technologies for instance, Sodium Magnetic Resonance Imaging (23Na MRI), Chemical Exchange Saturation Transfer (CEST), and Positron Emission Tomography (PET), are frequently engaged to distinguish the response of brain tumors in multicenter clinical trial settings and diagnostic centers which together is expected to offer the lucrative progression for the global brain tumor and therapeutics during the forecasted period.
High cost and increasing key player rivalry to hamper the global market growth.
However, remarkable high cost of diagnosis and treatment is the factor anticipated to become a hurdle for the global brain tumor diagnosis and therapeutics market. The cost factor is restricting the market growth mostly in developing or middle-income economies. Availability of brain cancer specific nonspecific drugs and growing use of generics treatments in chemotherapy defies challenges faced by the global brain tumor diagnosis and therapeutics market.
Global Brain Tumor Diagnosis and Therapeutics Market Taxonomy:
The global brain tumor diagnosis and therapeutics market is segmented on the basis of diagnosis type, treatment therapy, and geography.
On the basis of diagnosis type, the global brain tumor diagnosis and therapeutics market is segmented into:
On the basis of treatment therapy, the global brain tumor diagnosis and therapeutics market is segmented into:
Geographically, the global brain tumor diagnosis and therapeutics market is segmented into North America, Europe, Asia pacific, Latin America, Middle East, and Africa.
Increased healthcare expenditure due to increase in per head income and the favorable reimbursement policies is expected to fuel the market in North America.
On the basis of geography, North America was estimated to dominate the global brain tumor diagnosis and therapeutics market. Rising occurrence and brain cancer and increasing demand for the treatment drugs is the major reason for the growth of the market in this region. According to Centers for Disease Control and Prevention (CDC), 2015, approximately 2 million people in the U.S. were diagnosed with brain cancer and this number is still on the rise. Thus the increasing prevalence of brain cancer cases is anticipated to bolster the regional market growth of brain tumor diagnosis and therapeutics market. In addition, increasing purchaser disposable earnings supported by healthcare coverage and favorable reimbursement policies in the U.S., developed healthcare substructure along with increasing consciousness regarding technological advancement among the people fuels the market growth.
In terms of market share in 2017, North America accounted for the most major share of the demand for brain tumor diagnosis and therapeutics market. Wide-ranging research and development actions, technological advancements, and increasing healthcare awareness about the management and therapies of brain tumor are driving market growth. Europe second in terms of market share, the considerable demand from the countries of U.K. and Germany, increasing occurrence of brain tumors, rising proportion of geriatrics population in Europe, and government’s inventiveness concerning rising consciousness of technological advancements to treat the brain cancer are some of the key factors driving the brain tumor diagnosis and therapeutics market in Europe.
Key players of global brain tumor diagnosis and therapeutics market: