Gastric Cancer Market Size Projected to Generate a Revenue of $10,737.00 Million by 2031Download Sample Reports Overview
The Global Gastric Cancer Market Size is predicted to be valued at $10,737.00 million by 2031, surging from $2,100.00 million in 2021, at a CAGR of 17.9%.
Impact Analysis of COVID-19 on the Gastric Cancer Market
The COVID-19 pandemic has had a significant impact on the gastric cancer market, leading to delays in diagnosis and treatment, disruptions in clinical trials, supply chain disruptions, and financial impact. Many people delayed their routine medical checkups, including cancer screenings due to the pandemic. Therefore, the diagnosis and treatment of gastric cancer have been delayed, leading to more advanced stages of the disease and poorer prognosis. Clinical trials are a critical aspect of developing new treatments for gastric cancer. However, the COVID-19 pandemic has caused significant disruptions in the conduct of clinical trials, leading to delays in drug development and regulatory approvals. The COVID-19 impact on gastric cancer market disrupted global supply chains, affecting the availability of drugs and medical supplies used in the treatment of gastric cancer. This led to shortages and increased prices for some drugs, making them more difficult to obtain. The pandemic caused significant economic disruptions, leading to reduced healthcare spending by individuals and governments. This has affected the funding of R&D for new treatments for gastric cancer. However, it is important to note that the healthcare industry has adapted to these challenges and is working to mitigate the impact of the pandemic on the treatment of gastric cancer.
Global Gastric Cancer Market Analysis
The aging population is one of the key drivers of the gastric cancer market. As people age, their risk of developing gastric cancer increases, and as the population continues to age, the demand for treatments for gastric cancer is expected to increase. According to the World Health Organization, gastric cancer is the fifth most common cancer worldwide and is more common in men than women. Early detection and treatment is crucial in improving the prognosis for patients with gastric cancer. In addition to the growing elderly population, other factors that are expected to drive the gastric cancer market include advancements in diagnosis and treatment, increase in awareness and screening, and rise in healthcare expenditure. These factors are likely to contribute to the development of new and innovative treatments for gastric cancer, which is predicted to improve outcomes for patients and drive the growth of the market. These are the major factors anticipated to boost the gastric cancer market size during the forecast period.
Even though there are significant ongoing advancements in cancer R&D, the options available for treating gastric cancer remain limited. Surgery, chemotherapy, and radiation therapy are the most commonly used treatment options for gastric cancer. Surgery is the preferred treatment when the cancer is detected early and has not spread to other parts of the body. However, surgery may not be an option for patients with advanced or metastatic gastric cancer. Chemotherapy and radiation therapy may be used alone or in combination with surgery. Chemotherapy drugs work by targeting rapidly dividing cancer cells, but they can also affect healthy cells, leading to side effects such as nausea, vomiting, and fatigue. This factor is expected to hamper the market demand in the upcoming years. High therapy costs and commercially limited availability of drugs for the treatment of stomach cancer is also anticipated to hinder the global gastric cancer market growth during the forecast period.
The development of combination therapies is a promising opportunity in the gastric cancer market. Combination therapies can offer several advantages over single-agent therapies, including improved efficacy and reduced toxicity. For example, some clinical trials have proved that combining chemotherapy and immunotherapy can lead to better outcomes for patients with advanced gastric cancer. Other combination therapies, such as targeted therapies and radiation therapy, are also predicted to have potential in the treatment of gastric cancer. This approach may help to improve treatment outcomes while minimizing side effects. There is a significant opportunity for companies to develop new treatments in this area due to the high unmet medical need in gastric cancer and the potential benefits of combination therapies.
Global Gastric Cancer Market, Segmentation
The gastric cancer market is segmented based on disease type, treatment type, drug class outlook, route of administration, distribution channel, and region.
The disease type segment is further classified into adenocarcinoma, lymphoma, gastrointestinal stromal tumor, carcinoid tumor, and others. Among these, the adenocarcinoma sub-segment accounted for the largest gastric cancer market share in 2021. The factors driving the growth of the adenocarcinoma segment of the gastric cancer market include the increasing aging population, unhealthy diets, and lifestyle habits such as smoking and alcohol consumption, which are known risk factors for the disease. Advancements in diagnostic techniques and treatment options also play a vital role in the growth of the market. For example, targeted therapies, immunotherapy, and combination therapies have shown promising results in treating gastric cancer, including adenocarcinoma.
The treatment type segment is further classified into immunotherapy, targeted therapy, chemotherapy, and radiation therapy and surgery. Among these, the chemotherapy sub-segment is anticipated to show the fastest growth in 2031. The development of new chemotherapy drugs and the improvement of existing ones have also contributed to the growth of the chemotherapy segment in the gastric cancer market. In addition, the increase in prevalence of gastric cancer worldwide has led to an increase in demand for effective treatments, including chemotherapy. The effectiveness of chemotherapy in treating gastric cancer, along with the development of new drugs and the increasing prevalence of the disease, are the main drivers of the chemotherapy segment growth in the gastric cancer market.
Drug Class Outlook:
The drug class outlook segment is further classified into PD-1/PD-L1 inhibitors, HER2 antagonists, VEGFR2 antagonists, and others. Among these, the PD-1/PD-L1 inhibitors sub-segment is estimated to show the fastest growth during the forecast period. In recent years, PD-1/PD-L1 inhibitors have emerged as a promising treatment option for gastric cancer. Several clinical trials have demonstrated that PD-1/PD-L1 inhibitors can improve overall survival and progression-free survival in patients with advanced gastric cancer. Therefore, the use of PD-1/PD-L1 inhibitors in gastric cancer has been rapidly increasing.
Route of Administration:
The route of administration segment is further classified into oral and injectable. Among these, the oral sub-segment accounted for the largest market share in 2021. Oral medications offer a convenient option for patients who may have difficulty traveling to medical facilities for intravenous treatments. Oral medications can be taken at home or on the go, making them a more convenient option for patients. Oral medications for gastric cancer have shown promising results in clinical trials, with some medications showing higher response rates and longer progression-free survival than traditional chemotherapy regimens. Oral medications can be less expensive than intravenous treatments, as they require fewer medical resources and can be self-administered at home, reducing the need for hospitalization.
The distribution channel segment is further classified into hospital pharmacies, specialty & retail pharmacies, and others. Among these, the specialty & retail pharmacies sub-segment accounted for the largest gastric cancer market share in 2021. Specialty pharmacies are particularly important in the gastric cancer market because they provide access to specialized medications that are not typically available through traditional retail pharmacies. These medications are often expensive and require careful handling and administration, owing to which specialty pharmacies are essential in ensuring patients receive the right treatment. Retail pharmacies also play an important role in the gastric cancer market, as they provide access to over-the-counter medications and other treatments that can help manage the side effects of cancer treatment.
The gastric cancer market analysis in Europe is projected to show the fastest growth by 2031. This demographic trend is likely to increase the demand for gastric cancer diagnosis and treatment. Factors such as a high-salt diet, smoking, and alcohol consumption have been linked to the increase in risk of gastric cancer. Changes in lifestyle and behavior may affect the incidence of the disease and the demand for related products and services. Advances in diagnostic techniques, such as endoscopy and imaging, have improved the detection of gastric cancer at an early stage. Treatment options for gastric cancer, including surgery, chemotherapy, and radiation therapy, have also improved in recent years, leading to better patient outcomes. Governments in Europe are investing in cancer research, prevention, and treatment programs. This investment is likely to drive the development of new products and services in the gastric cancer market. All these factors are projected to drive the regional gastric cancer market growth during the forecast period.
Key Players in the Global Gastric Cancer Market
Some of the leading gastric cancer market players are
- Novartis AG
- Pfizer Inc.
- Mylan N.V.
- F. Hoffmann La Roche Ltd.
- Eli Lilly and Company
- Merck & Co. Inc.
- Teva Pharmaceutical Industries Ltd.
- Celltrion Healthcare Co. Ltd.
- Samsung Bioepis
- Bristol Myers Squibb Company
In April 2021, Investigational Bemarituzumab has been given breakthrough therapy designation by the U.S. Food and Drug Administration (FDA) as the first-line treatment for patients with metastatic and locally advanced gastric and gastroesophageal junction (GEJ) adenocarcinoma that is FGFR2b overexpressing and HER2-negative, in combination with modified FOLFOX6 (fluoropyrimidine, leucovorin, and oxaliplatin).