Zion Market Research has published a new report titled “Brain Tumor Diagnosis and Treatment Market by Product (Primary Brain Tumor and Secondary Brain Tumor), by Diagnosis Type (CT Scan, MRI, PET-CT Scan, Molecular Testing, EEG, and Others), and by Treatment Type (Surgery, Radiation Therapy, Targeted Therapy, Chemotherapy, and Immunotherapy): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017 – 2024”. According to the report, the global brain tumor diagnosis and treatment market was valued at approximately USD 426 million in 2017 and is expected to generate revenue of around USD 744 million by the end of 2024, growing at a CAGR of around 8.65% between 2018 and 2024.
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Brain tumors generally occur in supportive brain tissues. The exact cause of brain tumor is not yet known, and it can occur in any age group. Neurologists base the brain tumor treatment on the type, tumor location, tumor size, patient’s health, and patient’s age. The main drivers that fuel the growth of brain tumor diagnosis and treatment market are an increase in the occurrences of brain tumor, the rise in the geriatric population, and the development of technologies for tumor treatment.
The brain tumor diagnosis and treatment market are segmented based on product, diagnosis type, and treatment type. The product segment of this market includes primary brain tumor and secondary brain tumor. Primary brain tumors are sub-divided into gliomas, meningioma, pituitary tumors, astrocytomas, and other primary brain tumors. In 2016, the primary brain tumor held approximately 74% of the total product type segment of brain tumor diagnosis and treatment market. The rise in brain tumor incidences and CNS-related cancers in regions like Europe and the Asia Pacific is mainly going to fuel the primary brain tumor segment globally.
Based on diagnosis type, this market is classified into PET-CT scan, MRI, CT scan, EEG, molecular testing, and others. The CT scan segment is anticipated to lead this market. The 3D images obtained through CT scan are captured from all angles and the ability of CT scan to differentiate between soft tissues and bone masses is fueling the growth for the demand for CT scan for diagnosing brain tumors.
The treatment type segment of brain tumor diagnosis and treatment market includes chemotherapy, radiation therapy, targeted therapy, surgery, and immunotherapy. The surgery segment is expected to dominate this market. The availability of limited treatment options for the treatment of grade IV and low awareness levels about other treatment options are expected to fuel the demand for surgery segment.
Europe, Latin America, North America, Asia-Pacific, and the Middle East and Africa are the regional segments of the global market for brain tumor diagnosis and treatment. North America is anticipated to dominate the brain tumor diagnosis and treatment market during the forecast period, due to the increase in brain tumor occurrences and rapid technological developments. Europe is projected to show the highest growth owing to increasing government initiatives, rising prevalence of brain tumors in countries like the UK, and the growing geriatric population. The Asia Pacific region is expected to hold a substantial market share due to the introduction of various technologies and therapies and growing awareness regarding the diagnosis and treatment techniques. Latin America and the Middle East and Africa are expected to show a slow growth rate during the forecast period. Increasing prevalence of metastatic tumors and the growing use of the combination of modern techniques for its diagnosis are some other factors fueling the growth of this market in these regions.
The main players of the global brain tumor diagnosis and treatment market are AstraZeneca, GE Healthcare, Carestream Health, Pfizer, Inc., Merck & Co. Inc., Siemens Healthineers, Hitachi Medical Corporation, Philips Healthcare, Toshiba Medical Systems Corporation, and Shimadzu Corporation. These companies focus on mergers and collaborations to develop their diagnostics techniques. For instance, in 2015, NICO announced its collaboration with Hitachi Aloka Medical to improve visualization of difficult to reach brain tumors.
This report segments the global brain tumor diagnosis and treatment market as follows:
Global Brain Tumor Diagnosis and Treatment Market: Product Segment Analysis
- Primary Brain Tumor
- Pituitary Tumors
- Other Primary Brain Tumors
- Secondary Brain Tumor
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Global Brain Tumor Diagnosis and Treatment Market: Diagnosis Type Segment Analysis
- CT Scan
- PET-CT Scan
- Molecular Testing
Global Brain Tumor Diagnosis and Treatment Market: Treatment Type Segment Analysis
- Radiation Therapy
- Targeted Therapy
Global Brain Tumor Diagnosis and Treatment Market: Regional Segment Analysis
- North America
- The U.S.
- Asia Pacific
- Latin America
- The Middle East and Africa