Global glioblastoma multiforme treatment market is projected to witness a CAGR of 8.78% during the forecast period 2024–2031, growing from USD 2.91 billion in 2023 to USD 5.71 billion in 2031. The market has experienced significant growth in recent years and is expected to maintain a strong pace of expansion in the coming years.
Growth in global glioblastoma multiforme treatment market is being driven by several factors such as increase in the prevalence of glioblastoma multiforme among the population, the development of innovative therapeutical drugs, and tremendous growth in the pharmaceutical and drug discovery industry. Government initiatives, growing investments by key market players to develop quality and efficient drugs, along with a supportive regulatory framework and collaborative ventures between medical device manufacturers and pharmaceutical companies will further promote the growth of the global glioblastoma multiforme treatment market.
The global glioblastoma multiforme treatment market is significantly undergoing robust growth due to the increasing prevalence of glioblastoma multiforme worldwide. As glioblastoma multiforme is a fast-growing tumor, it is highly essential to get treatment as early as possible to develop any fatal condition. Glioblastoma multiforme treatment methods such as surgery, chemotherapy, and radiation therapy play a crucial role in increasing the life expectancy of the patients. With the growing cases of glioblastoma, there is an increased demand for glioblastoma multiforme treatments due to which many leading players are continuously involved in launching innovative and efficient therapeutical drugs in their cancer treatment product portfolio, which is further propelling the growth of the global glioblastoma multiforme treatment market.
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Government initiatives such as granting funds are being initiated to improve research and development in the market to improve medical facilities and provide efficient treatment to the patients. Product launches by key market players, along with increased collaboration activities such as mergers and acquisitions, partnership agreements, and new distribution agreements, drive the global glioblastoma multiforme treatment market. Moreover, several market leaders are undergoing extensive research and development in the market to launch innovative and efficient drugs. Celldex Therapeutics that develops targeted immunotherapy and biologics for the treatment of different types of cancers, announced that its latest drug “Varlilumab” is under clinical trial phase II and is most likely to progress into phase III.
Increasing Prevalence of Glioblastoma Multiforme
The demand for glioblastoma multiforme treatment is increasing significantly due to the rising number of glioblastoma multiforme cases worldwide. Glioblastoma is a leading cause of death among the cancer patients globally, as it is a type of cancer that spreads faster, leading to further health complications. According to an article published in “UT Southwestern Medical Center”, globally, more than 300,000 cases of glioblastoma are diagnosed every year. It states that it is the most common primary malignant brain cancer in the adult population. The survival time for glioblastoma patients is only 15 to 18 months on an average, which further emphasizes the need for research and development to bring efficient treatment process that can increase the survival rate of the patients.
Integration of AI For Expediting Drug Development Process
The use of artificial intelligence in pharmaceutical companies is becoming more significant, due to its huge potential to analyze and generate synthesis pathways during the drug development process, as well as optimize clinical trial designs. Leading players in the glioblastoma multiforme treatment market are continuously involved in using the latest advanced technologies such as artificial intelligence and machine learning to enhance the research and development process, to bring more efficient therapeutic drugs, that can be beneficial in the treatment process of cancer.
For instance, in October 2023, Lantern Pharma Inc., using its AI-based platform, “RADR”, announced that its latest innovative drug “LP-184” for the treatment of glioblastoma was published in the American Association for Cancer Research Journal. It states that LP-184 is a unique small molecule that has highly efficient CNS penetration and low nanomolar activity. With the help of its AI platform RADR, LP-184 is developed in such a way that it can repair damaged DNA. Moreover, it has been proven to be effective for patients with temozolomide resistance.
Radiation Therapy Dominates the Market in Terms of Treatment Methods
Among the different treatment methods for glioblastoma multiforme patients, the application of radiation therapy is increasing significantly. Radiation therapy plays a crucial part in the treatment of glioblastoma multiforme. After the surgical removal of a tumor, radiation therapy alone or in combination with chemotherapy is recommended to kill the remaining cancer cells and limit the growth of cancer cells in the future. Several companies are involved in developing innovative therapeutics to make radiation therapies more efficient. For instance, in December 2023 Shuttle Pharmaceuticals Holdings, Inc. announced application submission of an investigational new drug (IND) to the FDA, to support the company in the development of Ropidoxuridine in the next phase of the clinical trial. Ropidoxuridine is a radiation sensitizer, that is used in radiation therapy to treat glioblastoma multiforme. The innovative approach aims to increase cancer survival rates and prolong a patient’s life.
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Hospitals Hold a Major Share in Glioblastoma Multiforme Treatment Market
Among the end-user segment, hospitals account for the highest market share in the global glioblastoma multiforme treatment market. The increasing global population and rising number of hospitals are expected to cater to the demands and the dominance of the segment in the market. Glioblastoma multiform is an aggressive brain tumor that requires different treatments such as surgery, chemotherapy, and radiation therapy.
Hospitals provide all these facilities, along with highly qualified surgeons and healthcare providers, which helps smoothen a patient’s journey throughout the entire pathway from diagnosis to follow up and assessment. As the prevalence of cancer such as glioblastoma multiforme is increasing, the demand for hospitals in developed as well as developing countries are increasing, due to which countries are increasing the number of hospitals with advanced diagnostics and treatment facilities. For instance, according to the American Hospital Association, in the year 2023, there were 6,129 hospitals in the United States and more hospitals are under construction. Increased availability of a variety of treatment facilities in the healthcare setting, along with increased trust among the population regarding the reliability and quality of healthcare facilities provided in the hospitals is further driving the growth of hospital segment in the overall market.
North America Holds Significant Market Share
North America dominates global glioblastoma multiforme treatment market, due to its well-developed and highly efficient healthcare infrastructure and availability of the latest and advanced surgical techniques and therapeutical drugs for the treatment of glioblastoma multiforme. The growing prevalence of glioblastoma multiforme among the United States population is the prime factor, that is driving the growth of this market.
For instance, according to the “National Brain Tumor Society”, in the United States, more than 10,000 individuals are affected by glioblastoma multiforme every year and it is estimated that out of all primary malignant brain tumors, 50.1% account for glioblastoma multiforme. The increasing prevalence requires efficient treatment such as surgeries, chemotherapy, and radiation therapy to increase the life span of the patients affected by this disease. Due to this, the demand for glioblastoma multiforme treatment is increasing in North America. Additionally, increased research and development in the market, along with the presence of key market players such as Amgen Inc and Merck & Co. further accelerate the demand for the global glioblastoma multiforme treatment market in the region.
Future Market Scenario (2024–2031F)
The global glioblastoma multiforme treatment market is expected to grow in the future, primarily due to increasing prevalence of glioblastoma multiforme worldwide. As the prevalence is increasing, pharmaceutical companies are constantly involved in extensive research and development of innovative therapeutical drugs for the treatment of the disease, along with mergers and acquisitions activities to enhance their product portfolio and expand their global market.
Additionally, the growth of the pharmaceutical industry, increased investments by organizations and government, frequent product launches, and increased FDA approvals by the regulatory bodies further lead to the growth of the global glioblastoma multiforme treatment market. For instance, in January 2024, Roche announced that its latest drug “Atezolizumab” is under clinical trial phase II and is most likely to get the FDA approval soon. The drug is expected to provide efficient treatment to the patients suffering from glioblastoma multiforme. These frequent product launches and favorable regulatory frameworks are further expected to escalate the growth of the market in the forecast period.
Report Scope
“Glioblastoma Multiforme Treatment Market Assessment, Opportunities, and Forecast, 2017–2031F”, is a comprehensive report by Markets and Data, providing in-depth analysis and qualitative and quantitative assessment of the current state of global glioblastoma multiforme treatment market, industry dynamics, and challenges. The report includes market size, segmental shares, growth trends, opportunities, and forecast between 2024 and 2031. Additionally, the report profiles the leading players in the industry mentioning their respective market share, business model, competitive intelligence, etc.
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ASCO: axi-cel in ZUMA-1Abstract No : 8012Abstract Type : Oral Abstract SessionIndication : Diffused Large B-Cell Lymphoma (DLBCL)Intervention : YescartaCompany : Kite, a Gilead CompanyTechnology : CAR T Cell TherapyBased on this limited sample size, reTx with axi-cel may have clinical efficacy, although transient, in some pts, especially those who achieve CR with 1st Tx.
CAR T cell expansion and severe CRS and NEs may be attenuated at reTx.
Further studies with additional pts are needed to confirm these results.View More: https://www.delveinsight.com/asco-conference/article/zuma-1 GSK: Cell Therapy and Next-generation Immuno-oncologyAt this year’s ASCO meeting, they will showcase presentations on investigational therapies, including belantamab mafodotin, an antibody-drug conjugate for multiple myeloma, and GSK3359609, an inducible T-cell co-stimulator (ICOS) agonist for patients with head and neck cancer.View More: https://www.delveinsight.com/asco-conference/article/gsk-cell-therapy-next-generation-immuno-oncology IMbrave150 TRIAL of AtezolizumabAtezo + Bev HCCIMbrave150 demonstrated statistically significant and clinically meaningful improvement in both OS and PFS with atezo + bev vs sor in pts with unresectable HCC who have not received prior systemic therapy.
Pts achieved CRs regardless of poor prognostic factors or etiology.
Atezo + bev may be a practice-changing treatment for pts with unresectable HCC.View More: https://www.delveinsight.com/asco-conference/article/imbrave150 ASCO: KEYNOTE-204Abstract No : 8005Abstract Type : Oral Abstract SessionIndication : Hodgkin’s Lymphoma (HL)Intervention : PembrolizumabCompany : Merck Sharp & Dohme Corp., a subsidiary of Merck & Co.Technology : ImmunocheckpointIn pts with R/R cHL, pembro was superior to BV and demonstrated statistically significant and clinically meaningful improvement in PFS across all subgroups, with safety consistent with previous reports.
Pembro monotherapy should be standard of care for this pt population with R/R/cHL.View More: https://www.delveinsight.com/asco-conference/article/NCT02684292 ASCO: INO-5401 + INO-9012 with CemiplimabAbstract No : 2514Abstract Type : Oral Abstract SessionIndication : Glioblastoma MultiformeIntervention : INO-5401 and INO-9012 + CemiplimabCompany : Inovio PharmaTechnology : T cell therapy/Monoclonal AntibodyINO-5401 + INO-9012 in combination with cemiplimab and RT/TMZ has an acceptable safety profile, is immunogenic and may show a survival advantage in patients with newly-diagnosed GBM.View Report: https://www.delveinsight.com/asco-conference/article/NCT03491683
