Market Trends of Brain Tumor Therapeutics Industry
The Immunotherapy Segment is Expected to Register Robust Growth in the Brain Tumor Therapeutics Market Over the Forecast Period
Immunotherapy is a cancer treatment that helps the immune system fight cancer. There are several types of immunotherapies used for the treatment of cancer. Immunotherapy offers promising options for treating brain cancer, traditionally treated with chemotherapy, radiation therapy, and surgery. Immunotherapy, also called biological therapy, treats the disease using living organisms. The Immunotherapy segment is anticipated to witness growth in the market owing to factors such as a rise in the adoption of immunotherapies for brain tumor treatments, an increase in product launches in cancer immunotherapy, and the surge in research funding for the development of immunotherapy. For instance, per the article published in the World Journal of Clinical Oncology in April 2023, a combination of immunotherapies is used for glioblastoma to reduce collateral damage and improve recovery. Thus, owing to such advantages offered by immunotherapies in brain tumors, the demand for the studied segment will likely rise, contributing to the segment growth over the forecast period.
The development of this market is anticipated to be fueled by novel immunotherapy strategies for brain cancer. Additionally, there are many approved immunotherapies for various brain cancers, and market players and universities are significantly focusing on developing and launching new immunotherapies for brain tumors. For instance, in February 2022, Augusta University collaborated with a researcher to find the efficacy of repurposing Ibrutinib for Chemo-Immunotherapy in Phase 1b Study of Ibrutinib with Indoximod Plus Metronomic Cyclophosphamide and Etoposide for pediatric patients with brain cancer. Therefore, this market is anticipated to rise due to universities' increasing attempts to create novel immunotherapy treatments. Thus, the factors above have helped drive the market's overall growth.
Thus, due to the increase in the prevalence of brain tumors and the rise in research and development in immunotherapy in brain tumors, the immunotherapy segment is anticipated to witness growth over the forecast period.
North America is Anticipated to Witness a Growth in the Brain Tumor Therapeutics Market Over the Forecast Period
North America's brain tumor therapeutics market is projected to have a significant share over the forecast period owing to factors such as a rise in brain tumor complications, a developed healthcare industry, and rising awareness regarding advanced technologies among the population in this region. According to the American Brain Tumor Association, approximately 24,810 adults in the United States will likely be diagnosed with primary cancerous brain and spinal cord tumors in 2023. Similarly, per the Cancer Canada statistics, 3,200 Canadians were diagnosed with brain and spinal cord cancer in 2022. The high prevalence of brain tumors is expected to drive the growth of this region.
Moreover, frequent product launches, drug approvals, and significant R&D activities for treating brain tumors will likely drive the market studied in the United States. For instance, in October 2022, the Governing Board of the California Institute for Regenerative Medicine (CIRM) awarded USD 12 million for a clinical trial targeting brain tumors. The fund was awarded to Dr. Jana Portnow at the Beckman Research Institute of the City of Hope. They are using Neural stem cells (NSCs) as a delivery vehicle to carry a cancer-killing virus specifically targeting brain tumor cells. The increasing research and development and funding in North America for brain tumor therapeutics are expected to propel the growth of this market.
Thus, North America is anticipated to witness growth over the forecast period due to the increase in the prevalence of brain tumors and the rise in research and development in the field of brain tumors.
