Global Adult Malignant Glioma Therapeutics Market to Reach US$ 2,964.5 Mn by 2026, Gains Impetus from Developments in Chemotherapy, says Fortune Business Insights
The Global Adult Malignant Glioma Therapeutics Market is likely to gain traction from advancements made in targeted therapies, aimed at treating glioma. According to a report published by Fortune Business Insights, titled “Global Adult Malignant Glioma Therapeutics Market: Global Market Analysis, Insights and Forecast, 2019-2026,” the market is likely to reach US$ 2,964.5 Mn by the end of 2026. Fortune Business has stated that this market was valued at US$ 1,459.1 Mn in 2018 and is likely to accelerate at 9.3%.
Targeted Therapy to Emerge as the Most Attractive Treatment Type
Adult malignant glioma is mostly treated with first line and second line therapies. Although first-line therapies possess many options to choose from, second-line therapies are a contrast of the former. Once malignant tumors reoccur, it becomes increasingly difficult to treat them. Recent advancements in orphan drugs have aided improvements in targeted therapy.
This, in turn, has increased the survival rate of people diagnosed with malignant glioma. Therefore, excellent results of targeted therapies have been a key factor in encouraging the uptake among end users. The increasing demand for targeted therapy is likely to favor growth in this segment in the coming years. Although targeted therapy has huge potential, the current market is dominated by chemotherapy and radiation therapy.
High Healthcare Expenditure to Favor the Market in North America
The growing healthcare expenditure in North America has boosted the regional market in the past decade. Favorable reimbursement policies are a major driver of the market in this region. Additionally, an increasing patient pool for adult malignant glioma is fueling the demand for adult malignant glioma therapies.
According to the American Society of Clinical Oncology (ASCO), it is estimated that in 2019, around 17000 new cases of glioma will be diagnosed in the US. Given the severity of this disease, there has been a growing awareness of detecting tumors at an early stage. Increasing awareness has led to the introduction of high caliber diagnosis methods in this region.
Merck & Co., Inc. and F. Hoffmann-La Roche Ltd to Account for Major Market Share
Merck & Co.’s Temozolomide has been widely used in the U.S., due to its proven clinical benefits. A strong product portfolio and an impressive market brand have led to Merck & Co.’s stronghold in the adult malignant glioma therapeutics market in the U.S. Additionally, the company is adopting exceptional operational strategies in the emerging countries.
The aforementioned factors have favored Merck & Co. and it is likely to account for a significant market share in the forecast period. F-Hoffmann-La Roche is another company that has a strong market presence. Roche’s ‘Avastin’ is used and recommended widely by most healthcare professionals. Avastin was approved for the treatment of malignant glioma after proving itself with clinical evidence.
Thus, the adoption of Avastin has led to the dominance of Hoffmann-La Roche in the global market. Fortune Business Insights states that collectively, Merck & CO. and Roche have accounted for a major market share and are likely to emerge dominant in the forecast period.
Some of the leading companies that are operating in the global adult malignant glioma therapeutics market are Merck & Co., Inc., F. Hoffmann-La Roche Ltd, Arbor Pharmaceuticals, Pfizer Inc., AbbVie Inc., Amgen Inc., Bristol-Myers Squibb Company, Sun Pharmaceutical Industries Ltd., Teva Pharmaceutical Industries Ltd., and Novocure.
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