Major players in the brain tumor drugs market are Pfizer Inc. , Shimadzu Corporation, Toshiba Medical Systems, Merck & Co. Inc. , and AstraZeneca. The global brain tumor drugs market is expected to grow from $1.
New York, May 04, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Brain Tumor Drugs Global Market Report 2021: COVID 19 Impact and Recovery to 2030" - https://www.reportlinker.com/p06067913/?utm_source=GNW
89 billion in 2020 to $2.01 billion in 2021 at a compound annual growth rate (CAGR) of 6.3%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $2.89 billion in 2025 at a CAGR of 9.5%.
The brain tumor drugs market consists of sales of drugs which are used to cure a mass growth of abnormal cells in the human brain.These drugs are either used alone or in combinations, depending on the type, size and locations of the tumor.
For example, Afinitor (Everolimus), BiCNU (Carmustine), Everolimus, Carmustine, Temozolomide and Avastin (Bevacizumab) are some of the drugs included in this market.
In 2019, Bristol-Myers Squibb acquired Celgene Corporation for an equity value of approximately $74 billion.Celgene Corporation is a biotechnology company that focuses on discovering and commercializing medicines for Cancer and inflammatory disorders.
Celgene was founded in 1986 and is headquartered in New Jersey, United States.The acquisition is expected to help Bristol-Myers Squibb in expediting the development of drugs for oncology, inflammatory, cardiovascular and immunologic diseases.
The acquisition also enhanced reach and scalability of the existing firms.
The major driving factor responsible for the growth of Brain Tumor market is the increasing prevalence of Neurological Disorders, worldwide.Neurological Disorders are identified as one of the most prevalent disorders, due to longer life expectancy, increasing exposure to infections and sedentary lifestyle.
For example, as per the National Brain Tumor Society, around 700,000 people in the United States around 700,00 people are having primary brain tumor in 2019 and around 86,000more will be diagnosed. The increasing number of patients with neurological disorders including brain tumor, is leading to a rise in the demand for the drugs used in their treatment.
The Brain Tumor market is governed by regulatory authorities such as the European Medicines Agency (EMA) and the US Food and Drug Administration (FDA).The regulatory body requires the companies in the industry to adhere to same rules for conducting clinical trials, consistently throughout the region.
These rules are relating to transparency of information and maintaining safety standards while conducting clinical trials of newly discovered drugs and therapies throughout the EU. The regulation also encourages cross-border cooperation for making the scope of these clinical tests wider.
Increasing use of targeted therapies is acting as a restraint on the Brain Tumor drugs market.Targeted cancer therapies are drugs or substances which block the growth of cancer by interfering with molecules that are more specifically involved in cancer cell progression than in normal cell activity.
The goal of targeted cancer therapies is to eliminate cancerous cells in the body while leaving normal cells unharmed.By focusing on changes in the cell that are specific to cancer, this therapy may prove to be more effective than traditional chemotherapy and radiotherapy.
For example, Everolimus is a targeted therapy that specially blocks the cancer cells from growing and spreading.Similarly, Bevacizumab prevents regeneration of cancer cells unlike chemical drugs which cannot prevent regeneration.
This rising popularity of targeted therapies is expected to affect the sales of conventional chemical Brain Tumor drugs, thus restraining the growth of the market during the forecast period.
Companies in the brain tumor market are focusing on the use of nanotechnology for treatment.The nanoparticles are being used to carry drugs in combination, directly to the cancer cells or into the tumor.
This technology has also led to a reduction in dosage of the drugs, improved shelf life and reduce toxicity.A few nanodrugs are proving to be useful in overcoming the blood-brain barrier, which was a significant challenge in the treatment of Brain tumors.
For instance, Liposomes nanoparticles facilitate easy delivery of drugs to the core cancer cells, these particles if coated with transferrin can even pass through the blood-brain barrier. Companies like GE Healthcare, Sigma-Tau Pharmaceuticals Inc., Johnson & Johnson, Merck & Company Inc., Pfizer, Inc., Celgene Corporation are adopting this technology to improve the available techniques of medication and treatment.
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