Gastric Cancer Drugs Market to Register Substantial Expansion by 2024
The market for gastric cancer drugs is projected to grow and spring out with the increasing medical needs of patients suffering from the disease. Globally, one of the typical evidences of increasing incidence of gastric cancer could be change in living pattern and adoption of unhealthy lifestyle. Therefore, with increasing demand for treatment, growth in the market could be clearly seen.
Primary reasons for this growth could be unhealthy eating habits, dominance of obesity among young and older generations, and heavy consumption of alcohol. With smoking adding in, there could be multiplying demand for gastric cancer drugs on the global platform.
Growth of cancer in the abdomen is due to uncontrolled development of malignant cells residing in stomach tissue, which results into the formation of tumor. According to an analysis, there could be five types of gastric cancer – squamous cell cancer, adenocarcinoma, gastrointestinal stromal tumors, lymphoma, and neuroendocrine tumors. Among the five, adenocarcinoma type originates from the innermost lining of the stomach and is responsible for 90% of all gastric tumors.
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Global Gastric Cancer Drugs Market: Trends and Opportunities
Every year, the number of cancer-related deaths caused due to gastric cancer has been reaching to more than 800,000, as per the records of the World Health Organization. In the recent past, the number of people diagnosed with gastric cancer was approximately in thousands, according to the American Cancer Society. Thus, growing incidence of gastric cancer across the world is foreseen to push the global market for the next few years.
An addition to this research is vital information on new therapies that are being developed – Xeloda, Herceptin, and Taxotere. Demand for gastric cancer drugs is expected to rise with the introduction of these therapies in the market. However, the relatively small number of drugs commercially available in the world gastric cancer drugs market may slow down growth in the coming years.
The world gastric cancer drugs market could be classified into seven types: doxorubicin hydrochloride, sunitinib, docetaxel, mitomycin, fluorouracil, imatinib, and trastuzumab.
Global Gastric Cancer Drugs Market: Geographical Analysis
In the global gastric cancer drugs market, China and Japan are the countries that are foretold to dominate in the near term because they have a larger patient count and increasing population seeking treatment. Therefore, there could be an increase in demand for gastric cancer drugs in these country-wise markets. Other regions who have a high number of gastric cancer patients are North America and Europe, which are projected to hold a strong position in the market. There is a high consumption of gastric cancer drugs such as Afinitor, Herceptin, and Erbitux that could increase their demand in Europe and North America.
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Global Gastric Cancer Drugs Market: Companies Mentioned
One of the go-to market strategies used by top players could be concentrating more on marketing and production of gastric cancer drugs to maintain their competitiveness in the industry. This is envisaged to make the international gastric cancer drugs market highly competitive for newcomers and small enterprises to gain a competitive edge. Some of the premium vendors are Sanofi- Aventis, Eli Lilly and Company, F. Hoffmann-La Roche, and Otsuka Pharmaceutical.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
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