Stomach Cancer Treatment Market is Expected to Grow with High Probability Business Opportunity by 2031

Global Stomach Cancer Treatment Market: Overview

Stomach or gastric cancer is one of the key causes behind deaths related to cancer across the world. It is also considered to be the fifth most common malignancy across the world. According to Globocan, in 2020, approximately 1.1 million new stomach cancer cases were reported around the world. Based on the type of treatment, the solutions in the stomach cancer treatment market can be segmented into targeted therapy, radiation therapy and surgery for qualitative analysis, immunotherapy, and chemotherapy. Products in the stomach cancer treatment market are used to treat stomach cancer, based on two major disease indications, i.e., gastrointestinal tumors, and gastroesophageal junction cancer or gastric cancer.

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The products and solutions offered by market players can be administered through two routes, namely, injectable and oral. Based on drug class, products offered by players in the stomach cancer treatment market fall under the following categories - HER2 Antagonists, PD-1 or PD-L1 inhibitors, and VEGFR3 antagonists, among others. These products are made available to customers through retail and specialty pharmacies, as well as through hospital pharmacies.

Global Stomach Cancer Treatment Market: Major Trends and Drivers

Rising prevalence of stomach cancer, as well as the increasing rate of approvals among the pipeline drug candidates, is anticipated to favor the expansion of the global stomach cancer treatment market in the coming years. Furthermore, rising adoption of newly launched products, including Opdivo as well as Enhertu is expected to favor the growth within the market in the near future.

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Furthermore, increasing burden of this disease, propelled by lifestyle changes, including increasing obesity, rising prevalence of gastroesophageal reflux disorder, and growing consumption of alcohol and smoking tobacco, is also anticipated to create an increased need for effective treatment therapeutics from the stomach cancer treatment market.

However, the introduction of biosimilars for Herceptin may hamper the development of the stomach cancer treatment market in the near future. On the other hand, increase in the approval of new immunotherapy and targeted drugs is most likely to augment the demand within the stomach cancer treatment market in coming years.

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Global Stomach Cancer Treatment Market: Key Players and Manufacturers

A few of the most dominant manufacturers and players operating in the stomach cancer treatment market include Pfizer, Inc., F. Hoffmann La Roche Ltd., Merck & Co., Inc., Celltrion Healthcare Co., Ltd., Bristol Myers Squibb Company, Novartis AG, Mylan N. V., Eli Lilly and Company, Teva Pharmaceutical Industries Ltd., and Samsung Bioepis, among others. Players in the stomach cancer treatment market are focused on adopting novel growth strategies, including strategic partnerships as well as launching new and technologically advanced products to capture a larger share within the market. For example, the United States FDA approved Opdivo, a product by Bristol-Myers Squibb Company, to be used in combination with platinum containing chemotherapy and fluoropyrimidine for treatment of metastatic gastric cancer in April of 2021.

Global Stomach Cancer Treatment Market: Regional Assessment

Asia Pacific held a leading revenue share of the stomach cancer treatment market in the recent past. Some of the key drivers for this lucrative industry positioning of Asia Pacific include high prevalence of gastric cancer in the region, as well as increasing use of chemotherapy for cancer treatment in the region. Furthermore, the rising rate of product approvals and increasing presence of promising drug formulations and products in pipeline is also expected to bode well for the development of the Asia Pacific stomach cancer treatment market in coming years.

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Europe is also expected to record significant growth in the stomach cancer treatment market over the next few years. This trend can be attributed to the rising number of investments aimed at the development of advanced treatment therapeutic solutions, as well as an increase in the number of target patient population within the region.

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