Global glioblastoma multiforme treatment market is expected to witness significant growth over the forecast period owing to high incidences of chronic oncology diseases. Rise in geriatric population which are at high risk of development of cancer and brain related disorders are expected to fuel the market growth.
Absence of treatment therapies that can eradicate malignant growth of tumor from nerve cells is also anticipated to boost R&D in this market and thereby subsequently propel growth in the coming seven years. Glioma cells resist conventional anti cancer treatments and thus there is a rising need for development of alkylating drugs and therapies in this sector which is further expected to augment market growth.
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Furthermore, R&D in cell therapy, molecular biotechnology and gene therapy to develop personalized and regenerative medicine to cure brain related cancer diseases and curb the disease incidence rate is expected to produce a positive impact on market growth. Rising technological advancements in biotechnology such as use of new transfection vectors in order to achieve higher bioavailability and therapeutic efficacy are also expected to drive market.
Presence of drugs in clinical phases of development for treatment of glioblastoma multiforme with lesser occurrence of adverse events as compared to available drug options are expected to drive market growth in coming seven years. Other factors that are expected to attribute towards further advancement include genomics based research for discovery of novel targets and development of novel moieties that can act on these targets
Geographical analysis of this market segregates it into North America, Asia-Pacific, Europe, Latin America and MEA. North America accounted for the largest market share with respect to revenue in 2014. Factors attributing towards this large include development of biopharmaceuticals by using advanced biotechnology techniques. Presence of regulatory bodies in this region that create awareness for the available treatment options are also responsible for high market share of this region. Moreover, there are number of vaccine products under clinical phase of development in this region owing to presence of government and non-government support for research.
Developing economies such as India and China in Asia Pacific region are anticipated to exhibit significant growth throughout the forecast period owing to improvements in health care infrastructure of this region coupled with rising awareness amongst population in this region.
Major players operating in this market include Sun Pharmaceutical Industries, Ltd., Teva Pharmaceutical Industries, Ltd., Arbor Pharmaceuticals LLC., Merck & Co., Inc., and F. Hoffmann-Le Roche AG. These players are involved in adoption of competitive strategies such as mergers with small entities operating in market and research laboratories in order to maintain market share.
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