A higher incidence of various brain cancers and a growing geriatric population will propel the global market for brain tumor diagnosis and therapeutics products to reach $773.1 million in revenues by 2025, according to a new report by market research firm Grand View Research.
Market expansion is being driven by public-private partnerships that are modernizing diagnostic imaging and radiology services, Grand View said. The company also highlighted emerging technologies such as sodium MRI, PET, and chemical exchange saturation transfer (CEST) that are being used to detect and quantitatively analyze the response of brain tumors during multicenter clinical trials.
Grand View believes these technologies offer the potential of extending MRI beyond anatomical imaging to also provide information on physiology and cellular metabolism. On the downside, the high cost of diagnosing brain tumors -- ranging from $450 to $12,200 -- is likely to hinder market growth, according to the firm.
In other findings, Grand View said the CT segment produced significant revenues in 2015 and is projected to grow significantly during the forecast period. In addition, North America is expected to dominate the brain tumor diagnosis and therapeutics sector, thanks to developed healthcare infrastructure combined with rising population awareness regarding advanced technologies, Grand View said.
