Global brain cancer market is projected to witness a CAGR of 10.03% during the forecast period 2024–2031, growing from USD 2.51 billion in 2023 to USD 5.39 billion in 2031F. The increasing prevalence of the disease in various regions across the globe is expected to boost the growth of the market.
As per the estimates of the American Cancer Society, approximately 25,400 malignant tumors of the spinal cord or brain have been diagnosed in the United States in 2023. Out of these diagnosed cases, 10,980 are expected to be diagnosed in females and 14,420 are expected to be diagnosed in males. It is estimated that roughly 18,760 people will die from spinal cord and brain tumors. The rising awareness about neurological diseases in both children and adults is providing lucrative growth opportunities to the market. The different risk factors that are attributed to an increased chance of developing brain tumors include exposure to viruses, allergens, infections, N-nitroso compounds, and head injuries and seizures.
Increasing efforts of various governments to combat the disease are supporting important research discoveries. Various governments are investing in researching new ways to treat, diagnose, and prevent brain cancer. For instance, the government of Canada is dedicated to the development of new treatment strategies by promoting scientific collaborations. The collaborations with organizations such as the Brain Tumor Foundation of Canada and the Brain Canada Foundation (BC) are aiding in maximizing the impact of research investments. A neurosurgeon-scientist at the University of Toronto and the University Health Network, with the help of brain cancer research funding was able to find new therapies for preventing high-risk surgical procedures and transform the clinical management of patients with brain tumors. Another partnership with the Canadian Cancer Society has united 10 research teams that aim at making life-changing breakthroughs in brain cancer.
In recent years, the global healthcare landscape has witnessed significant advancements in the understanding and treatment of various diseases, including brain cancer. The market for brain cancer therapies and interventions has been evolving rapidly, driven by a surge in research and development activities, technological innovations, and an increasing demand for more effective treatments. This blog post delves into the current state of the global brain cancer market, exploring its size, growth trends, and the factors influencing demand.
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Market Size:
The global brain cancer market has been expanding steadily, reflecting the rising incidence of brain tumors across the world. According to recent market reports, the market size is projected to reach unprecedented levels, driven by factors such as an aging population, environmental factors, and improved diagnostic capabilities. The market encompasses a wide array of products and services, including surgical interventions, radiation therapy, chemotherapy, targeted therapies, and supportive care.
Growth Trends:
Several key trends are shaping the growth trajectory of the global brain cancer market:
- Advancements in Treatment Modalities: The field of brain cancer treatment has witnessed remarkable advancements in recent years. Novel therapies, such as immunotherapy and targeted therapies, are gaining prominence, offering more personalized and effective options for patients.
- Increased Research and Development: Pharmaceutical companies and research institutions are investing heavily in brain cancer research. This surge in R&D activities is yielding groundbreaking discoveries, paving the way for innovative treatment options and diagnostic tools.
- Technological Innovations: The integration of cutting-edge technologies, including artificial intelligence, genomics, and precision medicine, is revolutionizing how brain cancer is diagnosed and treated. These technological innovations are enhancing treatment efficacy and patient outcomes.
- Collaborative Efforts: Recognizing the complexity of brain cancer, collaborative efforts among healthcare professionals, researchers, and pharmaceutical companies are on the rise. These collaborations facilitate knowledge sharing, expedite clinical trials, and contribute to a more comprehensive understanding of the disease.
Demand Factors:
The demand for brain cancer treatments is influenced by various factors:
- Rising Incidence: The increasing prevalence of brain cancer worldwide is a primary driver of demand for effective treatments. As more cases are diagnosed, the need for advanced therapeutic options becomes imperative.
- Growing Awareness: Heightened awareness about the signs and symptoms of brain cancer, coupled with early detection initiatives, is leading to more patients seeking medical attention at an early stage. This, in turn, is fueling the demand for prompt and effective treatments.
- Patient-Centric Care: The shift towards patient-centric healthcare models emphasizes the importance of tailored treatments and supportive care for individuals with brain cancer. This approach contributes to a higher demand for personalized therapies and holistic care solutions.
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Growing Research and Development Activities
The various research activities aimed at spinal cord and brain tumors are dedicated to reducing the different toxic effects associated with effective therapies, identifying the underlying cause of cancer, and determining novel treatments and delivery methods. For instance, in 2023, a team of researchers from the University of Texas at Dallas and UT Southwestern Medical Center developed a method to deliver medication through the blood-brain barrier, using gold nanoparticles. The technique showed positive results for the treatment of glioblastoma, a common form of brain cancer, in the clinical study. The drug delivery method relies on the co-delivery of medication with vessel-targeted gold nanoparticles, that are then injected into the bloodstream. In the experiment, paclitaxel was used by the researchers to conclude the chemotherapy drug for treating lung, ovarian, and breast cancers.
Increasing Prevalence of Disease in Both Children and Adults
According to the American Cancer Society, spinal cord and brain tumors are the second most common type of cancer in children. They account for approximately one out of four cases of cancer in children. Almost three out of four children diagnosed with brain tumors survive at least five years after receiving the diagnosis. Hence, various studies are being conducted to determine the effects of cancer-treating drugs on children, which is further leading to the brain cancer market growth.
For instance, the PIRATE study conducted by EpicentRx, Inc. aims to determine the side effects of RRx-001 in young adults and children when given together with temozolomide and irinotecan. The study aims to determine if the given combination is helpful for young adults and children with previously treated cancerous tumors.
North America is Expected to Account for Significant Market Share
North America is expected to dominate the market due to the growing prevalence of brain cancer in the United States and Canada and the increase in the emphasis on cancer research. According to the National Brain Tumor Society, approximately one million individuals are living with a brain tumor in America and 94,390 individuals are expected to receive a primary brain tumor diagnosis in 2023. The Canadian Cancer Society estimated that, in 2023, 3,200 Canadians will be diagnosed with spinal cord and brain cancer and nearly 2,500 Canadians will die amongst them. Due to the unique challenges presented by brain cancer, research and development activities are increasingly being conducted by various research institutions and market players. Currently, a study is being conducted by the University of Alabama in Birmingham to determine the safety and tolerability of novel gamma-delta T cell therapy for treating patients who recently received a diagnosis of glioblastoma.
Increasing Cases of Glioma Support Market Growth
According to the National Brain Tumor Society, glioblastoma accounts for 50.1% of all primary malignant brain tumors, and has more than 14,490 Americans, expected to receive a diagnosis of glioblastoma in 2023. According to an article published by researchers from MU School of Medicine and the University of Rochester, in May 2023, 6 out of every 100,000 people receive a diagnosis of glioma in the United States every year. Due to the increasing prevalence of glioma in different regions across the globe, research and development activities are increasing to find novel treatment solutions.
Various regulatory bodies such as the Food and Drug Administration (FDA) are providing fast-track designation to drugs that treat glioma. For instance, the FDA granted fast-track designation to the herpes simplex virus-1 (HSV-1) viral immunotherapy agent CAN-3110 as a treatment for enhancing the overall survival of patients suffering from recurrent high-grade glioma. Across all dosing levels, the findings supported the safety of CAN-3110 despite the presence of HSV1 ICP34.5 gene. CAN-3110 is a first in class oncolytic viral immunotherapy that is designed for targeting cancer cells expressing Nestin.
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