The rising prevalence of brain cancer is one of the key factors that will trigger the growth of the market. Most brain tumors are identified only in the late stages. The delay in diagnosis leads to the tumor becoming malignant. Also, factors such as cancer becoming metastasis are associated with the increasing prevalence of brain cancer. Therefore, the morbid nature of the disease, increasing mortality rate and the huge unmet need caused by the rising prevalence of this disease is expected to increase the use of therapeutics for the treatment. Thus, such factors are expected to drive the growth of the market during the forecast period. analysts have predicted that the brain tumor therapeutics market will register a CAGR of almost 12% by 2023.
The market is expected to witness an increase in the number of strategic alliances between the universities and vendors, during the forecast period, thus adding significant growth to the global brain tumor therapeutics market.
Preference for substitutes
The ease of treatment is expected to increase the demand for the alternating electric field therapy. This is expected to be a major challenge for the growth of the global brain tumor therapeutics market during the forecast period.
For the detailed list of factors that will drive and challenge the growth of the brain tumor therapeutics market during 2019-2023, view our report.
The market appears to be concentrated and with the presence of few companies including Bristol-Myers Squibb Co., and Eisai Co. Ltd., the competitive environment is quite intense. Several organizations are focusing on launching various products such as grey armbands, grey rings, and grey ribbon pins to promote the severity and awareness of brain cancer. The rising number of awareness campaigns is expected to result in the early diagnosis of the disease, thereby driving the market growth. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market’s competitive landscape and offering information on the products offered by companies.
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