The global glioblastoma multiforme (GBM) market size to reach USD 1.15 billion by 2024, fueled by the increasing occurrence of cancer in the central nervous system among the ageing population. The market is highly prevalent in the countries of North America and Europe region.
Apart from North America and Europe, instances of glioblastoma are prevalent in the Asia Pacific as well. To that end, Japan is one of the countries with a relative prevailing rate of glioblastoma owing to the presence of a high number of elderly individuals.
The disease is characterized as one of the most aggressive cancer which usually recurs periodically. Typically, a person suffering from glioblastoma survives for around one year, with a marginal survival rate of 3%-5% over five years.
Rising ageing population along with increasing awareness of novel therapies has added to the growth of the GBM market. The tumor continues to grow increasing with age, peaking between 75 to 84 years of age and then declines after 85 years.
In 2016, North America contributed to 39.2% of the global glioblastoma multiforme market share and is expected to witness steady growth over the forecast period. Substantial spending on the healthcare sector has resulted in the maturity of the treatment for the disease. U.S remained one of the leading GBM markets in the region.
Asia Pacific is expected to be the fastest-growing market over the forecast period and is expected to be valued over USD 270 million by 2024. High incidence rate of glioblastoma in Japan and China is expected to drive the market for its treatment solutions.
Companies are focusing on research and development in molecular biotechnology and gene therapy related to central nervous system and cancer. This advancement may provide an improvement in innovative possibilities for effective treatment of GBM over the forecast period.
Biologic products present a unique opportunity for focal treatment of GBM. Focal treatment techniques present an effective and feasible treatment option for those suffering from GBM. With biologic products, the focus is on treating the tumor at a cellular or molecular level. These factors together are expected to contribute to the growth of the GBM market over the next few years.
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Hexa Research has segmented the global GBM (Glioblastoma Multiforme) market based on region:
Segmentation by region, 2014 - 2024 (USD Million)
• North America
• Asia Pacific
• Rest of the World
Key players analyzed:
• Genentech, Inc
• Bristol-Myers Squibb
• Emcure Pharmaceuticals Limited
• Arbor Pharmaceuticals, LLC
• F. Hoffmann-La Roche AG
• Merck & Co., Inc.
• Sun Pharmaceutical Industries, Ltd.
• Teva Pharmaceutical Industries
• Sigma-Tau Pharmaceuticals, Inc.