Pune, Feb. 11, 2020 (GLOBE NEWSWIRE) -- The global Stomach Cancer Treatment Market size is expected to reach USD 8.20 billion by 2026, exhibiting a CAGR of 15.3% during the forecast period. One of the major forces behind the rise of this market is the increasing prevalence of cancer in general and stomach cancer in particular worldwide. The GLOBOCAN 2018, which is a report on the global burden of cancer produced by the International Agency for Research on Cancer (IARC), estimates that in 2018, new cancer cases will be around 18 million and cancer-related deaths will be close to 9.6 million. Further, stomach cancer will account for 8.2% of the new cancer cases. Statistics released by the World Cancer Research Fund (WCRF) substantiate the IARC’s findings. According to the WCRF, gastric cancer is the fourth mostly commonly diagnosed cancer worldwide, with 1 million new reported cases. As the incidence of stomach cancer increases across the globe, the demand for stomach cancer drugs will rise commensurately, spelling good news for this market.
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Fortune Business Insights™ shares the above information in its new report, titled “Stomach Cancer/Gastric Cancer Treatment Market Size, Share & Industry Analysis, By Drug Type (Programmed Cell Death Protein 1 (PD-1) Inhibitors, Human Epidermal Growth Factor Receptor (HER2) Antagonists, Vascular Endothelial Growth Factor Receptor (VEGFR) Antagonists, and Others), By Disease Indication (Gastric Adenocarcinoma, Gastrointestinal Stromal Tumor (GIST), and Gastric Neuroendocrine Tumors (gNET)), By Route of Administration (Oral and Parenteral) By Distribution Channel (Hospital Pharmacy, Retail Pharmacy, and Online Pharmacy) and Regional Forecast, 2019-2026”. According to the report, the market value stood at USD 2.61 billion in 2018. The other highlights of the report include:
- Elaborative overview of the industry outlook;
- 360-degree analysis of the factors driving and restraining the market;
- Careful study of the different market segments; and
- Detailed research into the regional and competitive dynamics influencing the market growth.
Encouraging Pipeline Candidates to Create Investment Opportunities
Potential pipeline candidates are being researched and developed as targeted therapies to treat gastric cancers. Targeted therapies involve specialized drugs that halt the spread of cancer by intervening or targeting specific molecules. For instance, Pfizer and EMD Serono Inc., is currently engaged in developing a drug called Avelumab for the treatment of advanced gastric cancer. Similarly, OncoQR ML recently declared that it has attained proof-of-concept (PoC) for its leading oncology product for gastrointestinal cancer called OQR100 (G17/little gastrin). Such research undertakings are emerging as one of the defining Stomach Cancer Treatment Market trends as these projects are encouraging players to focus their investment energies on enhancing their R&D capacities.
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Growing Prevalence Stomach Cancer to Drive the Market in Asia-Pacific
Asia-Pacific generated USD 1.01 billion in revenue in 2018. The region is, therefore, expected to dominate the gastric cancer treatment market share in the upcoming decade. The main reason for this is the increasing incidence of gastric cancer cases, primarily in India and China. The World Health Organization (WHO) estimates that in 2018 there were 456,124 stomach cancer cases in China. Coupled with this is the rising frequency of new product launches, both of which are propelling the regional market.
In North America, increasing preference for targeted therapies, rising incidence of stomach cancer, and growing R&D efforts by pharmaceuticals is spiking the demand for gastric carcinoma drugs in the region. Supportive government measures and favorable health reimbursement policies will bode well for the gastric carcinoma treatment market in Europe.
Active and Timely Regulatory Approvals to Novel Drugs to Fuel Competition
According to the Stomach Cancer Treatment Market analysis, regulatory clearances to innovative products will push the limits of competition in this market. Besides these approvals, many players are collaborating with each other to deepen their footprint in the gastric carcinoma drugs market.
Industry Developments:
- January 2020: Blueprint Medicines Corp’s oral drug, Ayvakit, received US FDA’s green light. The drug is designed to treat gastrointestinal stromal tumor, a rare cancer that affects the stomach and small intestine.
- April 2019: The German pharmaceutical giant, Boehringer Ingelheim, and PureTech Health partnered so that Boehringer could use PureTech’s lymphatic targeting system to directly deliver the company’s gastric cancer candidate into the gut lymphatics.
List of Top Players Covered in the Stomach Cancer/Gastric Cancer Treatment Market Report:
- Jiangsu Hengrui Medicine Co., Ltd.
- TAIHO PHARMACEUTICAL CO., LTD.
- Celltrion Inc.
- Novartis AG
- F. Hoffmann-La Roche Ltd
- Ipsen Pharma
- Bristol-Myers Squibb Company
- Bayer AG
- Merck & Co., Inc.
- Eli Lilly and Company
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Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Prevalence of Stomach Cancer – For Key Countries
- Regulatory Scenario - For Key Countries/Regions
- Reimbursement Scenario - For Key Countries/Regions
- New Product Launches
- Key Industry Developments - Mergers, Acquisitions and Partnerships
- Global Stomach Cancer/Gastric Cancer Treatment Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Drug Type
- Programmed Cell Death Protein 1 (PD-1) Inhibitors
- Human Epidermal Growth Factor Receptor (HER2) Antagonists
- Vascular Endothelial Growth Factor Receptor (VEGFR) Antagonists
- Others
- Market Analysis, Insights and Forecast – By Disease Indication
- Gastric Adenocarcinoma
- Gastrointestinal Stromal Tumor (GIST)
- Gastric Neuroendocrine Tumor (gNET)
- Market Analysis, Insights and Forecast – By Route of Administration
- Oral
- Parenteral
- Market Analysis, Insights and Forecast – By Distribution Channel
- Hospital Pharmacy
- Retail Pharmacy
- Online Pharmacy
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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