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11 May, 2022, 13:30 BST
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– Relentless pursuit for improving the prognosis and survival rates spurs demand for radiotherapy; growing need for combining surgery with radiotherapy and chemotherapy boosting outcomes
– Pharmaceutical companies and cancer institute’s collaborating for growing research spending on clinical trials for targeted therapies to expand growth frontiers for glioblastoma multiforme treatment market
ALBANY, N.Y., May 11, 2022 /PRNewswire/ — Product pipeline in the glioblastoma multiforme (GBM) treatment market has thrived on the growing spending on clinical trials on exploring new therapeutic strategies that aim on improving the survival rates as well as boosting the prognosis. Universities pioneering in research on brain cancer are working concertedly with biotech and pharmaceutical companies to develop combination therapies, thereby expanding the treatment outcomes. The global glioblastoma multiforme treatment market is projected to reach US$ 3.72 Bn by 2028.
The TMR study scrutinizing trends in the glioblastoma multiforme (GBM) treatment market observed that continuous advancements in surgical and radiation oncology are vital for better targeted therapies. Despite the vast body of clinical research, GBM is characterized by poor prognosis and high mortality, which has led a pressing need for early diagnosis.
Glioblastoma multiforme (GBM) treatment market statistics indicate that therapeutics for this aggressive brain cancer is heavily dependent on large R&D investments to an extent that many oncology companies consider this a niche segment. Drug repurposing is also emerging as an effective therapeutic approach in a bid to reduce the exorbitant costs of and time in development of new antineoplastic drugs in the glioblastoma multiforme (GBM) treatment market.
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Key Findings of Glioblastoma Multiforme (GBM) Treatment Market Study
Radiation Therapy for GBM Replete with Potential Lucrative Opportunities: The TMR study has found that radiation therapy has contributed a leading share of the global market in 2020. The uptake of radiation therapy is expected to shape the revenue of the glioblastoma multiforme (GBM) treatment market. Massive lucrative opportunities have emanated from the preference of radiation therapy as first-line treatment. Radiation therapy taken either singly or with surgery and chemotherapy is gathering traction among patients, especially newly diagnosed glioblastoma in elderly patients.
Ongoing Clinical Trials for Novel Therapeutic Targets Focus on Increased Survival Rates in GBM Patients: The maximal surgical resection, followed by radiotherapy, is emerging as one of the promising combination therapies. Healthcare providers are striving for increasing the targeted therapies for both newly diagnosed diseases and recurrent glioblastoma. The unmet need for effective targeted therapies has created new growth frontiers for glioblastoma multiforme (GBM) treatment market.
Collaborations Between Industry Players Enrich Novel and Targeted Therapies: Cancer research institutes are shifting their dollars toward improving current standards of care in glioblastoma therapy, thus opening new rooms for generating revenue in the glioblastoma multiforme (GBM) treatment market. In recent years, recurrent or progressive GBM have become key focus areas, where stakeholders are keen on getting access to novel therapeutics that can improve the quality of life of these patient cohorts.
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Glioblastoma Multiforme (GBM) Treatment Market: Key Drivers
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Glioblastoma Multiforme (GBM) Treatment Market: Regional Growth Dynamics
The North America glioblastoma multiforme (GBM) treatment market witnessing speedy approval of new drugs due to intense focus on identification of effective therapies in clinical trials. The U.S. has been a remarkably lucrative market with the presence of a well-established healthcare infrastructure. Favorable regulatory outlook is reinforcing R&D in radiopharmaceutical therapy, thus expanding the revenue of the glioblastoma multiforme (GBM) treatment market
Glioblastoma Multiforme (GBM) Treatment Market: Key Players
Some of the key players in the glioblastoma multiforme (GBM) treatment market are:
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Global Glioblastoma Multiforme (GBM) Treatment) Market: Segmentation
Glioblastoma Multiforme Treatment (GBM) Market, by Treatment
Glioblastoma Multiforme Treatment (GBM) Market, by End-user
Glioblastoma Multiforme Treatment (GBM) Market, by Region
Modernization of healthcare in terms of both infrastructure and services have pushed the healthcare industry to new heights, Stay Updated with Latest Healthcare Industry Research Reports by Transparency Market Research:
Chemotherapy Drugs Market: Increase in investment in the research & development of anti-cancer drugs and rise in demand for advanced cancer drugs augment the global market. Surge in awareness about cancer and its treatment and early diagnosis are also likely to propel the global chemotherapy drugs market.
Glioblastoma Multiforme Market: The rising number of cases of GBM is expected to drive the glioblastoma multiforme market during the forecast period. Increase in funding for companies involved in the research on GBM is also contributing to the growth of the glioblastoma multiforme market.
Glioblastoma Market: There are several developments that are done in the field of surgeries that can remove the tumor caused by glioblastoma multiforme (GBM). As a result of these developments, the global glioblastoma market is expected to witness a robust growth in the forecast period of 2019 to 2027.
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