Gastric Cancer Drugs Market to grow by USD 12.764 billion from 2022 to 2027; The increasing prevalence of gastric cancer drives the market - Technavio

NEW YORK, Sept. 5, 2023 /PRNewswire/ -- The gastric cancer drugs market size is expected to grow by USD 12.764 billion from 2022 to 2027. In addition, the momentum of the market will be progressing at a CAGR of 14.85% during the forecast period, according to Technavio Research. The increasing prevalence of gastric cancer is notably driving the market growth. The rising prevalence of gastric cancer can be attributed to shifts in lifestyle and dietary habits. The widespread consumption of processed and high-fat, high-sugar fast foods has contributed to conditions like obesity, which is associated with chronic digestive disorders, including gastric cancer. Sedentary routines without physical activity have gained popularity due to demanding work schedules, further exacerbating health concerns. Additionally, the surge in gastrointestinal cancer cases has significant ramifications for patients and their families, including chronic pain, appetite loss, and diminished quality of life. Consequently, these factors are poised to elevate the global demand for gastric cancer drugs, consequently propelling the growth of the gastric cancer drugs market during the forecast period. This report offers an up-to-date analysis of the current market scenario, the latest trends and drivers, and the overall market environment. Read PDF Sample Report

Company Profile:

Some of the key companies include:

Abbott Laboratories, AbbVie Inc., AROG Pharmaceuticals INC., AstraZeneca Plc, Bayer AG, Biocon Ltd., Blueprint Medicines Corp., Boehringer Ingelheim International GmbH, Bristol Myers Squibb Co., Celltrion Co. Ltd., Dr Reddys Laboratories Ltd., Eisai Co. Ltd., Eli Lilly and Co., F. Hoffmann La Roche Ltd., Merck KGaA, Novartis AG, Samsung Biologics Co. Ltd., Takeda Pharmaceutical Co. Ltd., Zydus Lifesciences Ltd., and Otsuka Holdings Co. Ltd.

Company Offerings 

• Abbott Laboratories - The company offers a gastric cancer drug called Priunta 440mg Injection.

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Gastric Cancer Drugs Market: Segmentation Analysis

The market has been segmented by route of administration (injectable and oral), distribution channel (Offline and Online) and geography (North America, Europe, Asia, and the Rest of the World (ROW)).

• North America is estimated to contribute 40% to the growth of the global market during the forecast period.  The regional market's notable expansion is underpinned by a pronounced incidence of gastric cancer and the concurrent availability of viable treatment options. The rising prevalence of this ailment in tandem with an aging population constitutes another significant growth driver, particularly since gastric cancer is commonly diagnosed in individuals aged 50 and above. Furthermore, North America's robust healthcare infrastructure and the presence of prominent pharmaceutical entities contribute substantively to the market's upswing. A marked emphasis on research and development investments by key industry players underscores their commitment to introducing efficacious drugs to the market, a factor poised to fuel market growth during the forecast period.
• The market share growth by the injectable segment will be significant during the forecast period. Biologics dominate the advanced stages of gastric cancer drug development, garnering attention for their efficacy in various therapeutic aspects of gastric cancer treatment. This attractiveness of biologics is projected to draw a substantial patient cohort seeking treatment through these drugs. As a result, the introduction of novel injectable gastric cancer drugs is anticipated to significantly propel market expansion during the forecast period.

 Learn about the contribution of each segment summarized in concise infographics and thorough descriptions. View a PDF Sample Report

"Besides analyzing the current market scenario, our report examines historic data from 2017 to 2021"- Technavio

Significant Gastric Cancer Drugs Market Trends

An increase in number of drug approvals and drug launches is an emerging trend in the market. In recent years, there has been a notable surge in the approval of drugs for the treatment of stomach cancer by regulatory agencies. Collaborative efforts between pharmaceutical companies and entities like the US FDA have streamlined the drug approval process, resulting in quicker timelines from submission to authorization. Additionally, market participants have introduced novel gastric cancer treatment options. For instance, Samsung Biologics Co. Ltd. introduced ONTRUZANT (trastuzumab-dttb) in the US in March 2022, catering to early-stage and metastatic HER2-overexpressing breast cancer and metastatic gastric cancer. This amplified availability of approved and launched drugs is anticipated to stimulate the expansion of the respective market during the forecast period. Identify key trends, drivers, and challenges in the market. Download to gain access to this information.

What are the key data covered in this gastric cancer drugs market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the gastric cancer drugs market between 2022 and 2027.
• Precise estimation of the gastric cancer drugs market size and its contribution to the market in focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behaviour
• Growth of the mental health industry across North America, Europe, Asia, and ROW
• A thorough analysis of the market's competitive landscape and detailed information about companies 
• Comprehensive analysis of factors that will challenge the growth of gastric cancer drug market companies.

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Market Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by Distribution Channel

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio