The global brain tumor diagnosis and therapeutics market size is expected to reach USD 773.1 million by 2025, according to a new report by Grand View Research, Inc. The market is expected to pose lucrative growth over the forecast period, owing to the increasing incidence of various brain cancers, particularly glioblastoma, coupled with the rising geriatric population.
Increasing Public-Private Partnerships (PPPs) in the health sector, which are modernizing diagnostic imaging and radiology services, are supporting the expansion of this industry. Emerging technologies like Sodium Magnetic Resonance Imaging(23Na MRI), Positron Emission Tomography (PET), and Chemical Exchange Saturation Transfer (CEST) are used to detect the response of brain tumors in multicenter clinical trial settings. In addition, these technologies are helpful in quantitatively imaging tumor response to therapies, thereby promoting their use during treatment.
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These technologies have the potential to extend MRI beyond anatomical imaging by providing information on physiology and cellular metabolism, thereby increasing the efficiency of diagnosis. Hence, the market is expected to witness productive growth over the forecast period.
Moreover, ongoing research in molecular diagnostics to understand cell biology at the cellular level of malignancy and identification of gene mutations associated with malignancy is anticipated to significantly contribute toward the growth of the industry.
On the other hand, the high cost of diagnosing brain tumors, which ranges from USD 450 to 12,200, is likely to hinder the growth of the global brain tumor diagnosis market.
Further Key Findings From the Study Suggest:
• CT scan segment held a lucrative revenue share in 2015 and is also likely to grow at a significant rate during the forecast period
• Chemotherapy is anticipated to witness the fastest growth over the forecast period owing to the presence of a large research pipeline by the industry players.
• North America is expected to dominate the brain tumor diagnosis and therapeutics market, owing to developed healthcare infrastructure coupled with rising awareness regarding advanced technologies amongst the population in this region. In addition, increasing consumer disposable income supported by healthcare insurance and reimbursement policies in the U.S. is expected to spur growth.
• Some of the key players for the market are GE Healthcare; Hitachi, Ltd.; Philips Healthcare; Siemens Healthineers; Toshiba Corporation; Fujifilm Corporation; Shimadzu Corporation; Carestream Health; Merck & Co.; Astra Zeneca; Bristol Myer Squibb; Novartis; and Roche Diagnostics.
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Grand View Research has segmented the global brain tumor diagnosis and therapeutics market on the basis of type, therapeutics, and region:
Brain Tumor Diagnosis Type Outlook (Revenue, USD Million, 2014 - 2025)
• MRI
• CT Scan
• Tissue Sampling
• PET-CT Scan
• Cerebral Arteriogram
• Lumbar Puncture
• Molecular Testing
• EEG
Brain Tumor Therapeutics Outlook (Revenue, USD Million, 2014 - 2025)
• Surgery
• Radiation Therapy
• Chemotherapy
• Immunotherapy
• Targeted Therapy
Brain Tumor Diagnosis and Therapeutics Regional Outlook (Revenue, USD Million, 2014 - 2025)
• North America
o The U.S.
o Canada
• Europe
o Germany
o The U.K.
• Asia Pacific
o Japan
o India
• Latin America
o Brazil
o Mexico
• The Middle East and Africa (MEA)
o South Africa
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.