The global brain tumor drugs market was valued at about $2.4 billion in 2018 and is expected to grow to $3.41 billion at a CAGR of 9.2% through 2022.”
— Abdul Wasay
The global brain tumor drugs market was valued at about $2.4 billion in 2018 and is expected to grow to $3.41 billion at a CAGR of 9.2% through 2022. The major driving factor responsible for the growth of the 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. In 2015, these disorders were ranked as the leading cause group of Disability Adjusted Life Years (DALYs), which is the number of years lost due to ill-health, disability or early death.
The brain tumor drugs market consist 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.
The global brain tumor drugs market is further segmented based on type and geography.
Companies in the brain tumor drugs market are increasingly investing in technologies such as artificial intelligence to save time and reduce research and development costs. AI is the simulation of human intelligence processes by machines, especially computer systems, which has the potential to surpass human intelligence levels. This technology helps to analyze large sets of chemical and biological data to identify potential drug candidates with higher success rates and at a quicker pace when compared to human analysis. The technology also helps in speeding up the patient recruitment process by matching blood cancer patients with the most relevant clinical trials, thus lowering clinical trial costs. Major blood cancer drug manufacturers such as Roche, Pfizer and Johnson and Johnson have already invested in AI technologies to reduce time taken and costs incurred for drug development. For instance, Johnson and Johnson entered into an agreement with BenevolentAI, a UK-based artificial intelligence company (start-up), to mine data for designing new Brain Tumor Drugs.
Major players in the Brain Tumor Drugs market include Pfizer Inc., Shimadzu Corporation, Toshiba Medical Systems, Merck & Co. Inc., AstraZeneca
Brain Tumor Drugs Global Market Report 2019 is one of a series of new reports from The Business Research Company that provides brain tumor drugs market overviews, analyzes and forecasts brain tumor drugs market size and growth for the global brain tumor drugs market, brain tumor drugs market share, brain tumor drugs market players, brain tumor drugs market size, brain tumor drugs market segments and geographies, brain tumor drugs market trends, brain tumor drugs market drivers and brain tumor drugs market restraints, brain tumor drugs market’s leading competitors’ revenues, profiles and market shares. The brain tumor drugs market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches. ◊