ALBANY, New York, Feb. 4, 2019 /PRNewswire/ -- The revenue generated by the global brain tumor diagnosis and treatments market is likely to stand at valuation of US$406.0 mn in 2016. The global brain tumor diagnosis and treatments market is likely to register healthy 8.5% CAGR during the course of forecast period from 2016 till 2025. The global brain tumor diagnosis and treatments market is likely to touch worth of US$840.7 mn by the end of this period.
On the basis of product type, the primary segment of brain tumor diagnosis and treatments is likely to hold maximum share and accounting for approximately 74.7% of the worldwide demand in 2016. From the geographical point of view, North America is likely to remain dominant throughout the forecast period owing to increasing demand from the U.S. region. Moreover, other countries such as Europe is likely to register healthy growth among all the region.
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Advancement in Technology to Drive Global Brain Tumor Diagnosis and Treatments Market
The rising number of brain cancer patients and new innovative drugs in pipeline and expanding market for the treatment of brain cancer is supporting growth of the global brain tumor diagnosis and treatment market. These are the key factors majorly augmenting towards growth of the global brain tumor diagnosis and treatments market in the coming years. Additionally, the increasing public and private partnership in the healthcare sector is stimulating demand for this market in the coming years. This will further helps in advancing radiology and imaging services, backing growth of the global brain tumor diagnosis and treatments market in the near future.
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The launch of new technologies such as Sodium Magnetic Resonance imaging (23Na MRI), Chemical Exchange Saturation Transfer (CEST) and Positron Emission Tomography (PET), are majorly utilized to detect the reaction of brain tumors in multicenter clinical experimental settings. In addition, advancement in technology will further stimulate the proficiency of diagnosis and this is further contributing towards the growth of the global brain tumor diagnosis and treatment market.
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High Expense associated with Treatment likely to Limit Market Growth
In contrast, the high expense associated with the brain tumor diagnosis and treatments is likely to hamper overall growth of the global brain tumor diagnosis and treatments market. Even though advancement in healthcare infrastructure in developing countries. Moreover, high cost of treatment of the brain tumor is majorly restraining growth of the overall market at global level.
The global brain tumor diagnosis and treatment market is likely to demonstrate fragmented structure, finds Transparency Market Research (TMR). Thanks to the presence of a large and small players in the regional and international players in the global brain tumor diagnosis and treatment market.
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TMR observe that the global brain tumor diagnosis and treatments market also features an increasingly competitive landscape, attributed primarily owing to the presence of several of companies of all sizes primarily those with a global presence. The players with high financial strengthen is likely to hold maximum share in the global market. The key vendors operating in the global brain tumor diagnosis and treatment market are Philips Healthcare, Toshiba Medical Systems, Siemens Healthineers, and AstraZeneca.
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