Stomach Cancer Treatment Market Overview
According to the USD Analytics published latest research report, the global “Stomach Cancer Treatment Market” is expected to grow at a tremendous CAGR of 12.9% during the forecast period 2023-2030.
The global stomach cancer treatment market is expected to rise rapidly during the projected period. This is due to discovery of new medications and treatments for stomach cancer.
Furthermore, the rising desire for painless low-cost therapy and favorable reimbursement situations for cancer treatment has considerably accelerated the expansion of stomach cancer treatment worldwide. Moreover, the world’s aging population, more susceptible to chronic illnesses such as stomach cancer, is predicted to raise demand for various cancer treatments, fueling market expansion through 2028.
Moreover, rising knowledge about the advantages of novel medicines and increasing global spending on cancer disorders will likely help the stomach cancer treatment market during the forecast period.
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Market Drivers:
Growing Prevalence of Stomach Cancer
Increasing incidences of adenocarcinoma, lymphoma, and gastrointestinal stromal tumors worldwide drive market growth during the forecast period. Similarly, an aging population is more vulnerable to chronic illnesses such as stomach cancer, one of the most frequent and lethal tumors globally, particularly among older men.
This is anticipated to promote market growth over the projected period. According to the National Cancer Institute, 26,380 new cases of stomach cancer and 11,090 fatalities are expected in the United States in 2022.
In developing countries, men are more likely to be diagnosed with stomach cancer than females because females have an additional copy of some protective genes in their cells that men do not. The rising frequency of stomach cancer in the area is boosting the need for better medicines for treating patients, which is projected to drive market growth over the forecast period.
Growing Development in Healthcare Industry:
The government’s increasing approval of newly discovered medications and the rising incidence of stomach cancer will likely generate a profitable growth opportunity for the market in the coming years. Research and development efforts are critical in developing new medications and cures.
For example, a Taiwanese research team recently released two stomach cancer indicators. This breakthrough may provide significant opportunities for the stomach cancer industry, consequently driving the market growth.
Similarly, since most products are accessible in capsules and tablets, oral medications are likely to drive market expansion throughout the projection period. Growing public health awareness is projected to drive stomach cancer treatment market development.
Market Restraints:
On the contrary, the high cost of the pharmaceuticals and the adverse effects of stomach cancer therapy are the primary factors likely to hamper the stomach cancer treatment market.
Covid-19 Impact Analysis:
COVID-19 has a negative influence on cancer treatment. The COVID-19 pandemic, according to the National Center for Biotechnology Information (NCBI), caused diagnostic delays. Most hospitals and clinics emphasized non-COVID-19 therapies during the epidemic’s early stages. In England, for example, hospitalization for chemotherapy decreased by 60% between the second and third quarters of 2020. However, market growth is expected to be fueled by greater uptake of newly introduced medications such as Enhertu and Opdivo in various countries and an increase in diagnosis rate beyond the COVID-19 pandemic.
Recent Industry Developments:
Stomach Cancer Treatment Market Segmentation Analysis:
As per the research analysis, the global stomach cancer treatment market is segmented by treatment type into immunotherapy, targeted therapy, chemotherapy, radiation therapy, and others; by cancer type into gastric cancer/gastroesophageal junction cancer, and gastrointestinal stromal tumors; by route of administration into oral, and injectables; by drug class into PD-1/PD-L1 inhibitors, HER2 antagonists, VEGFR2 antagonists, and others; by distribution channel into hospital pharmacies, specialty pharmacies, and others.
The Injectable Segment Dominated the Market During the Forecast Period
In 2022, the injectable segment had a revenue share of over 90.0% of the stomach cancer therapy market. Because the majority of chemotherapy, targeted medications, and immunotherapy treatments are accessible in injectable form, this segment dominates.
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Geographical Analysis:
The global stomach cancer treatment market is segmented into North America, Europe, South America, Asia Pacific, and Middle East & Africa.
Asia Pacific Stomach Cancer Treatment Market
Asia Pacific led the stomach cancer treatment market with a revenue share of more than 55.0% in 2022. This is mainly owing to the region’s increased frequency of stomach cancer. For example, in 2020, the number of new cases in Japan was estimated to be about 138,000; in China, it reached 479,000. Chemotherapy is still the most favored treatment choice in countries such as China; however, the availability of a robust product pipeline and the projected approval of the medications will enhance regional development throughout the projection period. For example, in September 2021, AstraZeneca and Daiichi Sankyo Company dosed the first HER-2 positive gastric cancer patient in Enhertuin China Phase II studies.
Competitive Landscape:
The major companies contributing to the global stomach cancer treatment market growth include Pfizer, Inc., Novartis International AG, Eli Lilly and Company, Bristol Myers Squibb Company, Teva Pharmaceutical Industries AG, F. Hoffmann La Roche AG, Mylan N.V., Celltrion Healthcare Co., Ltd, Merck & Co., Inc., Teva Pharmaceutical Industries Ltd.
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