LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global glioma therapeutics market to grow at a CAGR of over 9% during the forecast period, according to their latest market research report.
Development of biosimilars for the treatment of glioma is one of the major trends being witnessed in the global glioma therapeutics market 2019-2023. Currently, Bevacizumab is the only approved biologic for the treatment of glioma. However, the recent expiration of some of its exclusive rights is providing immense opportunities for vendors to enter the market with new drugs for the treatment of glioma. Therefore, several pharmaceutical companies are focusing on the development of bevacizumab biosimilars. Thus, the development of low-cost therapeutics will boost the growth of global glioma therapeutics market during the forecast period.
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Global glioma therapeutics market: Special regulatory designations
The prevalence rate of glioma is usually lower than other mainstream diseases such as diabetes and hypertension, as it is a rare disorder. Consequently, pharmaceutical companies are often hesitant to invest a significant amount in R&D for drug discovery. Therefore, regulatory bodies provide special drug designations such as fast-track designation, orphan drug designation, and Qualified Infectious Disease Product (a DP) designations.
The orphan drug designation will propel the growth of the global glioma therapeutics market, as it will support and incentivize pharmaceutical companies to engage in the development of therapeutics pipeline for the treatment of glioma.
According to a senior analyst at Technavio, “Apart from the development of biosimilars for the treatment of glioma, factors such as the strategic alliances, and the development of gene therapy for the treatment are expected to positively impact the growth of the global glioma therapeutics market during the forecast period.”
Global glioma therapeutics market: Segmentation analysis
The global glioma therapeutics market research report provides market segmentation by product (small molecules, and biologics), and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
The Americas region held the largest share of the market in 2018, accounting for over 41% share, followed by EMEA and APAC respectively. Although the APAC region held the smallest share of the market in 2018, it is expected to register the highest incremental growth during the forecast period.
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Five Forces Analysis
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- Vendors covered
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