Global Gastric Cancer Market Predicted to Make a Strong Comeback after the Pandemic Debacle with a Stunning CAGR of 17.9% in the 2022-2031 Timeframe [350-Pages] | Explained by Research Dive

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15 Jun, 2023, 15:30 GMT

The global gastric cancer market is predicted to observe significant growth by 2031, owing to the increasing pervasiveness of gastric cancer among people worldwide. The Asia-Pacific region generated the highest market share in 2021. 

NEW YORK, June 15, 2023 /PRNewswire/ -- Global Gastric Cancer Market Forecast Analysis: 

As per the report published by Research Dive, the global gastric cancer market is envisioned to garner a revenue of $10,737.00 million and grow at a fascinating CAGR of 17.9% over the estimated timeframe from 2022 to 2031.

Segments of the Gastric Cancer Market

The report has divided the gastric cancer market into the following segments:

  • Type: adenocarcinoma, lymphoma, gastrointestinal stromal tumor, carcinoid tumor, and others
    • Adenocarcinoma – Held the largest market share in 2021
      The increasing development of targeted therapies and immunotherapies to improve the outcomes for patients with adenocarcinoma is expected to foster the growth of the market sub-segment over the analysis period.
  • Treatment Type: immunotherapy, targeted therapy, chemotherapy, and radiation therapy & surgery
    • Chemotherapy – Registered the highest revenue in 2021
      Chemotherapy is one of the primary treatments for advanced gastric cancer to kill cancer cells and can be combined with other treatments to increase its effectiveness which is expected to augment the growth of the market sub-segment forward.
  • Drug Class Outlook: PD-1/PD-L1 inhibitors, HER2 antagonists, VEGFR2 antagonists, and others
    • PD-1/PD-L1 Inhibitors – Expected to have the fastest growth by 2031
      The increasing use of PD-1/PD-L1 inhibitors in treating gastric cancer by helping the immune system of the patient's body recognize and attack cancer cells is predicted to propel the growth of the market sub-segment over the analysis period.
  • Route of Administration: oral and injectable
    • Oral – Held for the biggest market share in 2021
      The growing demand for minimally invasive diagnostic techniques to detect oral segment gastric cancer at an early stage is expected to propel the growth of the market sub-segment further.
  • Distribution Channel: hospital pharmacies, specialty & rental pharmacies, and others
    • Specialty & Retail Pharmacies - Held the greatest market share in 2021
      Specialty and retail pharmacies have expertise in managing complex therapies, delivering patient education and support, and coordinating with healthcare providers to provide effective treatments, which are the factors expected to fuel the growth of the market sub-segment further.
  • Region: North America, Europe, Asia-Pacific, and LAMEA
    • Asia-Pacific – Held the dominant market share in 2021
      The growing incidences of gastric cancer among people, the rising awareness and diagnosis of the disease, and the increasing healthcare expenditure in the region are the factors expected to drive the regional growth of the market during the forecast period.

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Dynamics of the Global Gastric Cancer Market

The increasing prevalence of gastric cancer among individuals across the globe owing to unhealthy lifestyle habits such as smoking and poor dietary choices is expected to augment the growth of the gastric cancer market over the estimated timeframe. Moreover, the rising investment in R&D activities for gastric cancer treatments and the growing healthcare expenditure for the development of better diagnostic tools and screening techniques for the early detection of gastric cancer is expected to create massive growth opportunities for the market over the forecast period. However, the high cost of treatment for gastric cancer may hamper the growth of the market during the analysis timeframe. 

Covid-19 Impact on the Global Gastric Cancer Market

The outbreak of the novel coronavirus has devastated several industries, including the gastric cancer market. The disruption in supply chains due to the government-imposed lockdowns has delayed the delivery of finished products owing to the shortages of raw materials during the pandemic. Moreover, the decreased healthcare investment in the development of new drugs and therapies for gastric cancer across many countries, as major resources have been redirected to pandemic-related measures, has further declined the market growth throughout the crisis. 

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Key Players of the Global Gastric Cancer Market

The major players of the market include

  • Bristol Myers Squibb Company
  • Novartis AG
  • Samsung Bioepis
  • Pfizer Inc.
  • Celltrion Healthcare Co. Ltd.
  • Mylan N.V.
  • Teva Pharmaceutical Industries Ltd.
  • F. Hoffmann La Roche Ltd.
  • Merck & Co. Inc.
  • Eli Lilly and Company

These players are broadly working on the development of new business strategies such as mergers and acquisitions, partnerships and collaborations, and product development to gain a leading position in the global industry.  

For instance, in November 2021, Nacto Pharma, an Indian multinational pharmaceutical company, launched its new product, a novel fixed-dose combination of Trifluridine and Tipiracil, which could be used to treat advanced colorectal and gastric cancer across the country. 

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What the Report Covers            

Apart from the information summarized in this press release, the final report covers crucial aspects of the market including SWOT analysis, market overview, Porter's five forces analysis, market dynamics, segmentation (key market trends, forecast analysis, and regional analysis), and company profiles (company overview, operating business segments, product portfolio, financial performance, and latest strategic moves and developments.)

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