Press release
GASTRIC CANCER THERAPEUTICS MARKET – GLOBAL INDUSTRY INSIGHTS, TRENDS, OUTLOOK, AND OPPORTUNITY ANALYSIS, 2016–2024
According to World Cancer Research Fund International, 952,000 new cases of gastric cancer were diagnosed in 2012. Gastric cancer was the fifth-most common type of cancer in the world. This epidemic has forced researchers, doctors, and governments to adopt various therapeutic treatments related to gastric cancer. An increase in investment by the companies and regulations by the government encouraging research on the same has provided significant momentum to the growth of the gastric cancer therapeutics market. This trend is likely to persist throughout the forecast period, since the number of cases of gastric cancer around the globe is rising at an alarming rate.
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Gastric cancer therapeutics market taxonomy
On the basis of type of treatment, the global market is classified into (Surgery, Targeted drugs therapy, Chemotherapy, Radiation therapy, and Others)
On the basis of end user, the global market is classified into (Hospitals, Clinics, Specialized cancer treatment centers, Ambulatory surgical centers, and Others
According to National Cancer Institute, there were a projected 79,843 individuals with stomach cancer in the U.S. alone, in 2013. According to the same report, gastric cancer represented a whopping 1.6% of the new cancer cases reported in the U.S. According to the National Cancer Institute, an estimated 26,370 new cases of the disease were reported, leading to 10,730 deaths in the U.S. in 2016. Rising incidence of stomach cancer in the U.S., positions it as a high growth market for gastric cancer therapeutics.
Increasing prevalence of the disease in the Asia to drive growth of overall gastric cancer therapeutics market
Survival rate for stomach cancer is greatly dependent upon the stage or phase of the disease during diagnosis. The earlier the stage of the disease progression, the higher is the survival rate. In Asia Pacific, the majority of the cases are detected at the later stage of the disease and predominantly among the geriatric population. Growth of the geriatric population in the region is leading to a proportional increase in occurrence of gastric cancer. This factor, along with growing health awareness leading to a rise in demand for early detection would fuel growth of the gastric cancer therapeutics industry over the forecast period.
Presently, the products available in the market constitutes of an extensive variety of treatment alternatives such as angiogenesis inhibitors, new chemotherapies and HER2-targeted therapy. However, demand for therapeutics that can take care of HER2-negative stomach cancer patients is high. Nevertheless, the gastric cancer market is experiencing a gradual change from generic treatment regimen to targeted therapies. This will further enhance the growth of the global gastric cancer therapeutics market.
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Some of the companies operating in the gastric cancer therapeutics market in the current scenario are Pfizer, Eli Lilly, GlaxoSmithKline plc, Kuhnil Pharmaceutical/Daiichi Sankyo, BMS, Merck KGaA, AstraZeneca, Otsuka Holdings Co. Ltd., Sanofi, and F. Hoffmann-La Roche Ltd. Some of the other companies operating in the market are Ono Pharmaceutical/Bristol-Myers Squibb, Jiangsu HengRui Medicine, Gilead Bioscience, Celgene/Taiho, Boston Biomedical, and Merck.
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