Global Glioblastoma Market: Overview
Glioblastoma also known as glioblastoma multiforme (GBM) is one of the most aggressive and most lethal brain disease that is currently taking many lives. The disease is responsible for more than 20% of total deaths that are caused by brain tumor. The life expectancy of the patient suffering from this disease is less than 14 months and the death is as painful as it can be.
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To reduce the number of deaths, researchers and pharmaceutical companies are developing drugs that can increase the life expectancy of the patients. Moreover, 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.
A report by Transparency Market Research provides complete analysis of the global glioblastoma market for the period of 2019 to 2027. The report offers in-depth analysis of market allowing the readers to have better understanding of the dynamics of global glioblastoma market. It covers areas such as developments, challenges, opportunities and trends of the global glioblastoma market from 2019 to 2027.
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Global Glioblastoma Market: Notable Developments and Competitive Landscape
The global glioblastoma market is highly competitive along with being largely fragmented. This because, there are several players that dominates the dynamics of the global glioblastoma market from 2019 to 2027. To overcome this competition, businesses are implementing certain strategies that can help them achieve a sustainable future in the market. The players are resorting to steps such as mergers, partnerships and acquisitions to accommodate essential resources for a better future in global glioblastoma market.
For instance:
In 2019, Merck acquired Peloton Therapeutics, Inc., which is a privately owned clinical-stage biotherapeutical company. With this acquisition Merck gained a stronghold in division of small molecule development for treatment of hypoxia-inducible factor-2α (HIF-2α) in parents suffering from brain cancer. The acquisition allowed the company to enhance its portfolio of cancer treatment strengthening its position in the global glioblastoma market.
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Also, some of the companies are filing patents to institutes such as FDA and European Commission for drug development. This strategy allow the players to acquire an edge over their rivals.
For example:
In 2018, Amgen and Allergan PLC acquired the approval from European Commission to for marketing and promotion authorization of MVASI for glioblastoma treatment.
Global Glioblastoma Market: Key Drivers
Demand for New and Effective Drugs
According to a study by National Centre for Biotechnology Information or NCBI in 2019, the rate of growth in the cases of glioblastoma was escalated to 3.19 per 100,000 in 2017. This is an alarming growth rate since the death rate due to this disease has grown exponentially. This growth calls for therapies and drugs that reduce the number of deaths of the sufferers and increase their life expectancy. The growing demand for such drugs is the major factor driving the growth of global glioblastoma market in the forecast period of 2019 to 2027.
Improving Healthcare Infrastructure
Governments are hell-bound to find a cure for glioblastoma. For this, they are investing a massive amount in development of therapeutic centers, hospitals and diagnostic centers. Also, governments are investing their resources in development and implementation of new technologies that can boost drug development for glioblastoma. These improvements of healthcare infrastructure also boost the demand for new glioblastoma drugs which another factor responsible for the growth of global glioblastoma market from 2019 to 2027.
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Global Glioblastoma Market: Regional Analysis
On geographical front, North America dominated the global glioblastoma market in 2018. The region is expected to continue its domination in the coming years of current tenure. This because of the presence and emergence several pharmaceutical companies devoted to the development of drugs to cure glioblastoma.
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