Preliminary research of Fairfield Market Research indicates a promising growth outlook for global stomach cancer treatment market during the course of next few years.
Rising Prevalence of Gastric Cancer to Complement Growth of Stomach Cancer Treatment Market
Growing uptake of targeted therapy, and immunotherapy coupled with new drug launches owing to rising cases of gastric cancer continue to influence the growth of the stomach cancer treatment market. For instance, according to World Health Organization, incidences of stomach cancer are expected to increase significantly to touch 1.24 million in 2025. Likewise, as per Globocan, gastric cancer cases were around 1.1 million in 2020 and are likely to increase to reach more than 1.4 million by end of 2030. The rising prevalence of stomach cancer has caused financial and mental burden on patients, which is propelling pharmaceutical companies to develop novel drugs for the treatment. In addition, according to National Center for Biotechnology Information, during COVID-19 pandemic, there were delays in the diagnosis and treatment of cancer which further caused a rise in the cases and severity of cancer spread among patients. This resulted in the adoption of novel therapeutics for treating gastric cancer post COVID-19 scenario, in turn bolstering growth of the stomach cancer treatment market.
Targeted Therapy Poised to Account for a Significant Revenue Share in the Stomach Cancer Treatment Market
The adoption of targeted therapy is increasingly used in treatment of stomach cancer. This is owing to its efficiency in destroying cancer cells. Since in targeted therapies, specific genes that are in the cancer cells are targeted, it becomes easier to mark those cells and then erase them. In addition, targeted therapy is expected to largely contribute towards value growth of the stomach cancer treatment market owing to new product launches and advancements. For instance, in November 2021, Japan Pharmaceuticals and Medical Devices Agency (PMDA) gave approval for Merck’s KEYTRUDA. This is considered as the first line of cancer treatment for patients who are suffering from radically unresectable, recurrent or advanced esophageal carcinoma. In this backdrop, the increasing cancer cases coupled with rising targeted therapies to treat various stomach cancers is expected to augur well for the stomach cancer treatment market.
Increasing Pipeline Candidates and FDA Approvals to Augment Growth of the Stomach Cancer Treatment Market
Several pharmaceutical majors have been actively investing in research and development activities to produce novel and advanced drugs for treating stomach cancer. Several potential candidates for stomach cancer treatment are in their final stages of clinical trials. Post their final clinical stage and after receiving FDA approval, their commercial manufacturing and global release would significantly influence the stomach cancer treatment market growth. For instance, in 2020, MacroGenics was granted the Orphan Drug Designation (ODD) by the US Food and Drug Administration (FDA) to its Margetuximab which is used in treatment of gastroesophageal junction and gastric cancer. Likewise, same year in July, health authorities in China gave authorization to LintonPharm to proceed with its phase 3 clinical trial to evaluate Catumaxomab. It us mainly for individuals suffering from advanced gastric cancer and peritoneal carcinomatosis. This aspect coupled with increasing demand for biosimilars in the treatment of stomach cancer is expected to provide momentum to the growth of the stomach cancer treatment market.
North America Likely to Lead the Global Stomach Cancer Treatment Market
North America region is expected to account for a major share in the stomach cancer treatment market from a value standpoint. This can be attributed towards rising cases of gastric cancer coupled with increasing adoption of advanced targeted stomach cancer therapy. For instance, according to Canadian Cancer Society 2021 report, around 4000 Individuals in Canada are expected to develop stomach cancer. Furthermore, according to Globocan 2020 report, approximately 29,772 new stomach cancer cases were registered in North America whereas around 8804 new cases gastric cancer cases were reported in Mexico in the same year. That said, rising number of stomach cancer cases in the region is expected to drive the growth of the stomach cancer treatment market in the forthcoming years. In addition, availability of superior healthcare infrastructure, favorable government support and use of advanced technology in several cancer treatment and research centers.
Additionally, growing number of clinical trials by companies to develop effective drugs for stomach cancer patients is another aspect influencing the stomach cancer treatment market growth. For instance, the United States Food and Drug Administration (FDA) gave approval for Bristol Myers Squibb’s (BMS) Opdivo along with platinum and fluoropyrimidine containing chemotherapy in April 2021. This treatment was for patients suffering from metastatic or advanced gastric cancer, esophageal adenocarcinoma, and gastroesophageal junction cancer. Moreover, same year in January, the FDA have approval for AstraZeneca’s Enhertu which can be used in the treatment of metastatic or advanced HER2-positive gastroesophageal junction or gastric adenocarcinoma. Such developments are expected to pave new avenues for the growth of the stomach cancer treatment market in the region in the coming years.
Stomach Cancer Treatment Market: Competitive Landscape
A few of the major players in the stomach cancer treatment market include Eli Lilly and Company, Celltrion Inc., Pfizer Inc., Merck & Co. Inc., F. Hoffmann-La Roche Ltd., Ipsen Pharma, Jiangsu Hengrui Medicine Co. Ltd., Bristol Myers Squibb Company, Bayer AG, Taiho Pharmaceutical Co. Ltd., and Novartis AG. Major players in the stomach cancer treatment market have been investing in strategies such as acquisitions, partnerships, collaborations, and new product launches to gain competitive advantage.
Recent Notable Developments
The Global Stomach Cancer Treatment Market is Segmented as Below:
By Treatment Type
By Route of Administration
By Disease Indication
By Drug Class
By Distribution Channel
Key Elements Included In The Study: Global Stomach Cancer Treatment Market
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