Global Brain and Spinal Cord Cancer Market Research and Forecast, 2022-2028

Global Brain and Spinal Cord Cancer Market Research By Type (Grade I, Grade II, Grade III and Grade IV), By Diagnostic Test (Imaging Tests, Magnetic Resonance Imaging (MRI) Scan, Computed Tomography (CT) Scan and Positron Emission Tomography (PET) Scan), and By Treatment (Surgery and Therapy) Forecast Period 2022-2028

The global brain and spinal cord cancer market is growing at a considerable CAGR of 9.0% during the forecast period. Increasing R&D on therapies associated with brain cancer is one of the prime factors affecting and driving the market. Growing demand for minimally invasive surgeries, increased spending on healthcare infrastructure by government among others is also estimated to be the key factors that are contributing significantly towards the growth of the market. However, side effects related with therapies and high cost involvement are some major factors constraints that are hindering the growth of the global brain and spinal cord cancer market across the globe.

However, technological advancement is one of the key factors that are creating opportunity for the market. New launches in the market are likely to drive the growth of the global brain and spinal cord cancer market. For instance, in April 2020, Sanofi BTK inhibitor (SAR442168) had resulted in its phase 2b trial for decreasing activity related with multiple sclerosis (MS) as measured by magnetic resonance imaging (MRI). BTK inhibitor is an oral brain-penetrant, which has achieved its efficacy and safety through the proper evaluation process.

Impact of COVID-19 on the Global Brain and Spinal Cord Cancer Market

The global brain and spinal cord cancer market is hardly hit by the COVID-19 pandemic since December 2019. The COVID-19 pandemic in the major economies had disrupted the manufacturing and transportation sector. However, the companies have increased their investment more in R&D in order to provide effective treatment to patients suffering from brain and spinal cord cancer.

Segmental Outlook

The market is segmented based on type, diagnostic test and treatment. Based on type, the market is segmented into grade I, grade II, grade III and grade IV. By diagnostic test, the market is segmented into imaging tests, magnetic resonance imaging (MRI) scan, computed tomography (CT) scan and positron emission tomography (PET) scan. Further, by treatment, market is segmented into surgery and therapy.

Global Brain and Spinal Cord Cancer Market Share by Treatment 2020 (%)

Global Brain and Spinal Cord Cancer Market Share by Treatment

Based on the treatment, the therapy holds a significant share in the market. It is mostly given for the purpose of curing the cancer and restricting the progression of a cancer. One of the therapies is given that is radiation therapy to the patient suffering from brain and spinal cord cancer for the purpose of destroying tumor cells with the use of high-energy X-rays or other particles. Generally, doctor use this therapy for slowing down or stopping the development of brain tumor after the surgery. Moreover, with the support of systemic therapy in which medication is given through the blood stream for reaching tumor cells throughout the body. This includes chemotherapy and targeted therapy. Chemotherapy is the use of drug that restricts the tumor cells from growing and making more cells where as targeted therapy is the type of treatment that targets specific genes or tissue environment that is responsible for growth and development of tumor.

Regional Outlooks

The global brain and spinal cord cancer market is analyzed based on the geographical regions that are contributing significantly towards the growth of the market. Based on the geography, the market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World. North America held a considerable share in 2020 in the global brain and spinal cord cancer market. Some factors that are boosting the market growth in North America are increasing number of cases related with brain and spinal cord cancer, rising awareness related with this cancer in the region. Additionally, well developed infrastructure of health that has led to increasing new drugs and therapeutics is other factors that are promoting the growth of the market.

Global Brain and Spinal Cord Cancer Market, by Region 2022-2028

Global Brain and Spinal Cord Cancer Market, by Region

Asia-Pacific will have Considerable Growth in the Global Brain and Spinal Cord Cancer Market

Asia-Pacific region is expected to witness significant growth opportunities for the market. Increasing advancement in technology in emerging economies of the region is likely to drive the growth of the regional market. Further due to rising health care expenditure along with increasing research and development activities in India, China and South Korea are also some of the factors that are affecting and impacting the growth in this market.

Market Player Outlook

Key players of the global brain and spinal cord cancer market are Daiichi Sankyo Co., Ltd., General Electric Co., Lilly, Siemens Healthcare GmbH, and WPD Pharmaceuticals among others. To survive in the market, these players adopt different marketing strategies such as new launches and acquisition. For instance, in December 2020, General Electric Co. along with other companies had selected to improve survival brain tumor people with the help of AI- based personalized radiation treatment.

In November 2019, a combination of three cancer immunotherapy drugs by Inovio and Sanofi/Regeneron had highlighted effective results in the treatment of glioblastoma multiforme (GBM) that is considered as a form of brain cancer.

In August 2019, Sanofi had introduced Aubagio as a multiple sclerosis (MS) drug teriflunomide for the treatment of Glioblastoma that is a common form of brain cancer.

In June 2019, Bayer AG had set forth the Stivarga (regorafenib) which had become the first compound that will be used in clinical trial platform for the purpose of investigating new therapies related with brain cancer.

The Report Covers

• Market value data analysis of 2020 and forecast to 2027.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global brain and spinal cord cancer market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where in the market.