Gastric Cancer Market Is Expected to Reach $10.7 Billion by 2031: Allied Market Research

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Increase in the occurrence of gastric cancer across the globe, the rising incidence of gastric cancer, surge in obesity and overconsumption of highly processed foods, sweetened beverages, tobacco, genetic modification in genes, families with cancer, and alcohol are expected to drive the growth of the global gastric cancer market.

Portland, OR, April 14, 2023 (GLOBE NEWSWIRE) — According to the report published by Allied Market Research, the global gastric cancer market generated $2.1 billion in 2021, and is estimated to reach $10.7 billion by 2031, witnessing a CAGR of 17.9% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscapes, and competitive scenarios. The report is a helpful source of information for leading market players, new entrants, investors, and stakeholders in devising strategies for the future and taking steps to strengthen their position in the market.

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Report coverage & details:

Report Coverage Details
Forecast Period 2021–2031
Base Year 2021
Market Size in 2021 $2.1 billion
Market Size in 2031 $10.7 billion
CAGR 17.9%
No. of Pages in Report 350
Segments Covered Disease Type, Treatment Type, Drug Class Outlook, Route of Administration, Distribution Channel, and Region
Drivers    The rising incidence of gastric cancer demanding effective treatments

The surge in obesity and overconsumption of highly processed foods, sweetened beverages, tobacco, genetic modification in genes, families with cancer, and alcohol
Opportunities The rise in number of cases of gastric cancer
Restraints

 

The high cost of treatment for gastric cancer

Covid-19 Scenario:

  • The COVID-19 pandemic had a negative impact on healthcare systems worldwide, including those that deal with cancer diagnosis and treatment. Furthermore, the pandemic caused delays in diagnosis and treatment, modifications to treatment regimens, and halts in cancer research.
  • Delays in the diagnosis and treatment of gastric cancer were the primary impacts of the COVID-19 pandemic. To lower the risk of COVID-19 transmission, many hospitals and clinics were forced to postpone or cancel non-urgent procedures and appointments. This resulted in delays in cancer diagnosis and treatment, which hampered patients’ health.
  • Moreover, the pandemic had impeded efforts to find new treatments for gastric cancer through clinical trials. owing to the governmental initiatives that had imposed strict regulation and lockdown across the globe. Several clinical trials had been postponed or suspended, which delayed the creation of new disease-modifying therapies.
  • Despite these challenges, the market for global gastric cancer has recovered post-pandemic.

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The report offers a detailed segmentation of the global gastric cancer market based on the disease type, treatment type, drug class outlook, route of administration, distribution channel, and region. The report provides an analysis of each segment and sub-segment with the help of tables and figures. This analysis helps market players, investors, and new entrants in determining the sub-segments to be tapped on to achieve growth in the coming years.

By disease type, the adenocarcinoma segment, the solution segment contributed to nearly two-fifths of the global gastric cancer market revenue and is projected to rule the roost by 2031. The same segment would also display the fastest CAGR of 18.9% throughout the forecast period. The lymphoma, gastrointestinal stromal tumor, carcinoid tumor, and others segments are also discussed in the report.

By treatment type, the chemotherapy segment garnered nearly half of the global gastric cancer market revenue and is anticipated to dominate by 2031. However, the targeted therapy segment would cite the fastest CAGR of 19.2% throughout the forecast period. Also, the immunotherapy, and radiation therapy & surgery segments are studied in the report.

By drug class outlook, the PD-1/PD-L1 inhibitors segment would showcase the fastest CAGR of 18.7% throughout the forecast period. The HER2 antagonists, VEGFR2 antagonists and others segments are also analyzed in the report.

By distribution channel, the specialty and retail pharmacies segment contributing to nearly three-fifths of the global gastric cancer market revenue and is projected to retain its dominance by 2031. The same segment would also portray the fastest CAGR of 18.5% throughout the forecast period. The hospital pharmacies and others segment are also assessed through the report.

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By region, Asia-Pacific held the major share in 2021, garnering more than half of the global gastric cancer market revenue and is projected to rule the roost in terms of revenue during the forecast period. Simultaneously, the Europe region would manifest the fastest CAGR of 18.8% throughout the forecast period. The other provinces studied in the report include North America and LAMEA.

The key market players analyzed in the global gastric cancer market report include samsung bioepis, Celltrion Healthcare Co., Ltd., Eli Lilly & Company, Merck & Co., Inc., Bristol Myers Squibb Company, Mylan N.V., Novartis AG, Pfizer, Inc., Teva Pharmaceutical Industries Ltd., and F. Hoffmann La Roche Ltd. These market players have embraced several strategies including partnership, expansion, collaboration, joint ventures, and others to highlight their prowess in the industry. The report is helpful in formulating the business performance and developments by the top players.   

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.

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