The global gastric cancer treatment market in 2020 is estimated for more than US$ 3.2 Bn and expected to reach a value of US$ 10.6 Bn by 2028 with a significant CAGR of 16.0%
Global Gastric Cancer Treatment Market, by Treatment Type (Chemotherapy, Targeted Drugs Therapy, Radiation Therapy), By distribution channels (Hospitals, Clinics, long-term care centers, others), and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, & Africa) is expected to grow at a significant CAGR for the period between 2020 and 2028.
As per the report, the growing prevalence of gastric adenocarcinoma and the availability of new treatment options are the main factors driving the growth of the gastric cancer treatment market. According to the American Cancer Society, approximately 27,510 new cases of gastric cancer are expected to be diagnosed in the U.S. in 2019. As per the Globocan registry, globally 1,033,701 new cases of gastric cancer were diagnosed in 2018, and gastric cancer constitutes 5.7% of all new cancer cases. Gastric cancer is usually diagnosed at an advanced stage with distant metastasis.
Systemic chemotherapy is the first line of treatment in patients with metastatic gastric adenocarcinoma. 5-fluorouracil is the first chemotherapeutic agent of choice against metastatic gastric adenocarcinoma. Recent advances in treatment such as immune checkpoint inhibitors have achieved a significant increase in response rate to the treatment. However, the cure of metastatic gastric adenocarcinoma is difficult with chemotherapy alone.
Current treatment strategies are thus aimed at relieving symptoms and prolong survival. Improving survival rates is another major factor pushing the gastric cancer treatment market. As per the results of the latest clinical trials the median survival rate for metastatic gastric cancer is 6 to 13 months. The expanding aging population is another key factor driving the growth of the gastric cancer treatment market. As per American Cancer Society findings of 6 of every 10 people diagnosed with stomach cancer, each year are 65 or older.
Furthermore, Meridian Market Consultants (MMC) Study identifies that, in spite of the availability of advanced treatment options, gastric adenocarcinoma remains the second highest cause of cancer deaths in the world. Until the late 1930s, stomach cancer was the leading cause of cancer death in the United States.
However, the incidence rate for gastric cancer is falling and the rate varies in different geographic regions. Incidence rates are found to be higher in developing countries, and the caseload in developing countries is increasing. Helicobacter pylori (H. pylori) infection is a major risk factor for gastric cancer.
Although chemotherapy is recommended primarily for metastatic gastric adenocarcinoma treatment, the penetration of new therapies such as targeted therapy with monoclonal antibodies and kinase inhibitors is increasing. FDA Approval of new Immune checkpoint inhibitor therapy in 2018 would further provide traction to the market.
The treatment strategy for metastatic gastric adenocarcinoma is considered individually based on the physical and socioeconomic status of patients and on the symptoms. Besides many drugs are being designed to target the molecular pathways involved in the progression of metastatic gastric cancer, which is expected to be launched in the market during the forecast period.
MMC Study identifies some of the key participating players in the gastric cancer treatment market globally are Merck, Pfizer, F. Hoffman-La Roche AG, Eli Lilly and Company, Novartis AG, Mylan Pharmaceuticals, Pfizer Inc., Actavis Pharma, Inc., AbbVie, etc., among others.
About Meridian Market Consultants (MMC):
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