Brain Tumor Drugs Market to Expand at 10.2% CAGR over 2023 to 2030; Accord Healthcare Rolled Out Carmustine to Gain Strong Industry Footing

The global brain tumor drugs market size stood at USD 1.80 billion in 2022. The market value is slated to rise from USD 1.89 billion in 2023 to USD 3.72 billion by 2030 at a CAGR of 10.2% during 2023-2030. The surge is propelled by substantial advancements in the diagnosis and treatment of brain tumor. One of the major strategies adopted in disease diagnosis is the assessment of genetic parameters in the biopsy specimens of patients.

Fortune Business Insights™ presents this information in its report, titled “Brain Tumor Drugs Market Size, Share & COVID-19 Impact Analysis, By Therapy (Targeted Therapy, Chemotherapy, Immunotherapy, and Others), By Indication (Pituitary, Meningioma, Glioma, and Others), By Distribution Channel (Hospital Pharmacy and Retail & Online Pharmacy), and Regional Forecast, 2023-2030”.

Disruptions in Supply Chains Affected Industry Growth during COVID-19 Pandemic

The COVID-19 pandemic impacted the revenues of major companies driven by disruptions in the supply chain. Furthermore, the period registered a drop in product sales driven by the stockpiling of medicines. However, the post-pandemic period recorded the adoption of favorable initiatives for brain tumor by the governments of numerous countries. This helped the revival of the market.

Accord Healthcare Launched Carmustine to Expand Product Portfolio

In August 2022, Accord Healthcare expanded its chemotherapy drugs line with the launch of Carmustine. The drug has been approved for usage in the treatment of certain types of blood cancers and brain tumors.

The anti-cancer chemotherapy drug works by helping to halt cancer cell division.  

Robust Presence of Pipeline Candidates to Propel Industry Expansion

The growing diagnosis rates and prevalence of brain cancer in developed countries is anticipated to drive the brain tumor drugs market growth over the forecast period. The industry expansion is further propelled by the rising focus of market players on R&D activities for the introduction of advanced drugs.

However, the high cost of brain tumor drugs and associated treatment procedures may restrain industry expansion to a certain extent.

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/brain-tumor-drugs-market-105025

Leading Companies Enter Partnership Deals to Increase Geographical Footprint

Key industry players are centered on adopting a series of strategic initiatives for strengthening their market positions. These initiatives include partnership agreements, mergers, and an increase in research activities. Some of the additional steps comprise a rise in collaborations and partnership agreements for the expansion of geographical footprint.

Key Players Profiled:

• F. Hoffmann-La Roche Ltd (U.S.)
• Novartis AG (Switzerland)
• Merck & Co. Inc. (U.S.)
• Pfizer Inc. (U.S.)
• Amneal Pharmaceuticals LLC. (U.S.)
• Amgen Inc. (U.S.)
• NextSource Pharmaceuticals, LLC (U.S.)
• Emcure Pharmaceuticals (India)

Notable Industry Development

• June 2022 – The U.S. Food and Drug Administration granted approval to Novartis’ dabrafenib (Tafinlar) and trametinib (Mekinist). The combination was focused on the treatment of pediatric (over the age of six) and adult patients having unresectable or metastatic solid tumors with BRAF V600E mutation.

Further Report Findings

• Several companies in North America are launching new drugs for securing a competitive edge. An increase in such launch initiatives is set to augment the North America brain tumor drugs market share over the projected period. The region held a leading share in the market in 2022.
• The Asia Pacific market value is anticipated to grow at a considerable pace over the study period. The surge is driven by increasing awareness about brain tumor and its types.
• By therapy, the market is fragmented into targeted therapy, chemotherapy, immunotherapy, and others. The chemotherapy segment accounted for a dominating share in the market in 2022 and is estimated to register notable growth over the analysis period.
• On the basis of indication, the market is segmented into glioma, meningioma, pituitary, and others. The glioma segment held a key share in the market in 2022 and is slated to expand at a substantial rate over the forecast period. The rise is driven by the soaring drug launch initiatives for treating glioblastoma.   

Table of Segmentation