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Gastric Cancer Drugs Market Overview, Outlook, Size, Share, Demand 2024-2033
Gastric Cancer Drugs Market Overview
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According to The Business Research Company's, The gastric cancer drugs market size has grown rapidly in recent years. It will grow from $3.91 billion in 2023 to $4.41 billion in 2024 at a compound annual growth rate (CAGR) of 12.8%. The growth in the historic period can be attributed to increase in pharmaceutical r&d expenditure, increased healthcare expenditure, strong economic growth in emerging markets and rapid growth in elderly population.
The gastric cancer drugs market size is expected to see rapid growth in the next few years. It will grow to $6.92 billion in 2028 at a compound annual growth rate (CAGR) of 11.9%. The growth in the forecast period can be attributed to increase in gastric cancer incidence rate, strong pipeline of drugs, rise in acquisitions and partnerships for drug development, rise in healthcare expenditure high potential in emerging economies, increasing geriatric population and revised fda regulations to facilitate biologics drug development. Major trends in the forecast period include strategic collaborations and agreements to broaden product portfolios, collaborating and partnering with other companies or government bodies to accelerate the development of new drugs, increasing the number of pipeline studies to develop gastric cancer drugs, investing in ai solutions, to reduce r&d costs, development of next-generation biologics to increase revenue and market share and using crispr-cas9 technology in new drugs developments or for better results in gastric cancer treatments.
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Market Drivers and Trends:
An increasing number of obesity cases and the smoking population increased the number of people suffering from gastric cancer. Consuming tobacco and following diet unhealthy diet increases the risk of stomach cancer. According to the estimates of the American Institute for Cancer Research for 2020, about 27,600 cases of stomach cancer will be diagnosed (16,980 in men and 10,620 in women). An increase in several cases of gastric cancer will drive for the growth of the gastric cancer drugs market.
Many companies are using combination therapies to cure gastric cancer. Combination therapies improve patient care by treating patients with two or more drugs for a single disease. For instance, in January 2021, AstraZeneca PLC., a UK-based pharmaceutical and biotechnology company, announced that for the treatment of adult patients with locally progressed or metastatic HER2-positive gastric or gastroesophageal junction (GEJ) adenocarcinomas who have previously undergone a trastuzumab-based regimen, Enhertu (trastuzumab deruxtecan) has been approved in the US by the Food and Drug Administration (FDA). This trastuzumab plus a fluoropyrimidine- and platinum-based chemotherapy combination is administered to patients suffering from advanced gastric cancer or GEJ adenocarcinoma.
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Major Key Players of the Market:
Weyerhaeuser Company, China Forestry Group Corporation, Rayonier Inc., PotlatchDeltic Corporation, Forestry Corporation of NSW, Washington State Department of Natural Resources, Jilin Forest Industry Co., Ltd., Tilhill Forestry, Pope Resources, A Delaware Limited Partnership, CatchMark Timber Trust, Inc., HVP Plantations, China Longjiang Forest Industry, China Inner Mongolia Forestry Industry Group, Greater Khingan Mountains Forestry Group, China Jilin Forestry Industry Group Co., Ltd., Singla Timbers, Oji Group, EGGER Limited, RTS Forestry, James Jones and Sons Limited, Metsähallitus Forestry Ltd, ATA Timber, Bergs Timber AB, Scottish Woodlands Ltd, Holmen Timber, BSW Timber, Titan group, Timberwood, Russia Forest Products, LST a.s., Wotan Forest, a.s., UNILES Inc., Segezha Group, SORT-1, LLC, KPPD-Szczecinek SA, Sawmill Radom, Ilim Timber LLC, Hancock Timber Resource Group, RSH Forest Products, Sierra Pacific, Benevides Madeiras, Duratex, Fibria Celulose, Klabin, Suzano Papel e Celulose, Daco Parquet Factory AS, Kartonsan, Balci Orman Urunleri, Merensky, Safcol, Miro Forestry and Timber Products, United Forest Products, Chukifywood, Firstcut International, Royal Castle Trading Enterprises, Chrischeriss Global Services Ltd.
Gastric Cancer Drugs Market 2024 Key Insights:
• The gastric cancer drugs market size is expected to see rapid growth in the next few years. It will grow to $6.92 billion in 2028 at a compound annual growth rate (CAGR) of 11.9%.
• Rising Gastric Cancer Cases Fuel Growth In Gastric Cancer Drugs Market
• Combination Therapies Advancing Gastric Cancer Treatment
• North America was the largest region in the gastric cancer drugs market in 2023
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