PORTLAND, OR, April 14, 2023 (GLOBE NEWSWIRE) — According to a report published by Allied Market Research, worldwide Gastric Cancer Market $ was generated2.1 billion in 2021, and is projected to reach $10.7 billion Billion by 2031, witnessing a CAGR of 17.9% from 2022 to 2031. The report provides detailed analysis of market trends, top segments, key investment pockets, value chains, regional scenarios, and competitive scenarios. The report is a useful source of information for leading market players, new entrants, investors and stakeholders to formulate future strategies and take steps to strengthen their position in the market.
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Report coverage and 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% |
| Number of pages in the report | 350 |
| Sections covered | Type of disease, type of treatment, drug class outlook, route of administration, distribution channel, and region |
| Drivers | The increasing incidence of gastric cancer demands effective treatment |
| Obesity and increased consumption of highly processed foods, sugary drinks, tobacco, genetic changes in genes, families with cancer and excessive alcohol consumption | |
| opportunities | The number of gastric cancer patients is increasing |
| Restrictions | High cost of gastric cancer treatment |
Covid-19 scenario:
- The COVID-19 pandemic had a negative impact on healthcare systems worldwide, including those related to cancer diagnosis and treatment. Furthermore, the epidemic has delayed diagnosis and treatment, modified treatment regimens, and stalled cancer research.
- Delays in the diagnosis and treatment of gastric cancer were the primary impacts of the COVID-19 pandemic. To reduce the risk of COVID-19 transmission, many hospitals and clinics were forced to postpone or cancel non-essential procedures and appointments. This led to delays in the diagnosis and treatment of cancer, which hampered the patient’s health.
- Furthermore, the pandemic has hampered efforts to find new treatments for gastric cancer through clinical trials. Due to government initiatives imposing strict regulations and lockdowns across the world. Many clinical trials were postponed or suspended, which delayed the creation of new disease-modifying treatments.
- Despite these challenges, the global gastric cancer market has recovered post-pandemic.
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The report provides detailed segmentation of the global gastric cancer market based on disease type, treatment type, drug class approach, route of administration, distribution channel, and region. The report provides analysis of each segment and sub-segment with the help of tables and figures. This analysis helps market players, investors, and new entrants to determine the sub-segments to achieve growth in the coming years.
By disease type, adenocarcinoma segment, solutions segment contributed nearly two-fifths of the global gastric cancer market revenue and is projected to settle by 2031. The same segment will also exhibit a rapid CAGR of 18.9% throughout the forecast period. . Lymphoma, gastrointestinal stromal tumor, carcinoid tumor, and other segments are also discussed in the report.
By treatment type, the chemotherapy segment accounted for nearly half of the global gastric cancer market revenue and is projected to dominate by 2031. However, the targeted therapy segment will quote the fastest CAGR of 19.2% throughout the forecast period. Also, Immunotherapy, and Radiation Therapy and Surgery segments are studied in the report.
From a drug class perspective, the PD-1 / PD-L1 inhibitor segment will exhibit the fastest CAGR of 18.7% throughout the forecast period. HER2 antagonists, VEGFR2 antagonists and other segments are also analyzed in the report.
By distribution channel, the specialty and retail pharmacy segment contributes nearly three-fifths of the global gastric cancer market revenue and is projected to maintain its dominance through 2031. The same segment will also depict a rapid CAGR of 18.5% throughout the forecast period. Hospital pharmacy and other segments are also evaluated through the report.
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By region, Asia-Pacific will hold the largest share in 2021, accumulating more than half of the global gastric cancer market revenue and is estimated to rule the roost in terms of revenue during the forecast period. Simultaneously, the Europe region reveals the fastest CAGR of 18.8% throughout the forecast period. Other provinces studied in the report include North America and Lamea.
Major market players analyzed in the global gastric cancer market report include Samsung Biopiece, Celltrion Healthcare Co., Ltd., Eli Lilly & Company, Merck & Co., Inc., Bristol Myers Squibb Company, Mylan NV, Novartis AG, Pfizer, Inc., Teva Pharmaceutical Industries Ltd., and F. Hoffmann La Roche Ltd. These market players have adopted several strategies including partnerships, expansions, collaborations, joint ventures and others to highlight their potential in the industry. The report is useful in terms of business performance and development by top players.
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Allied Market Research (AMR) is the full-service market research and business-consulting arm of Allied Analytics LLP, based in Portland, Oregon. Allied Market Research provides unmatched quality of “market research reports” and “business intelligence solutions” to global enterprises as well as medium and small businesses. AMR has a targeted approach to providing business insights and consulting to help its clients take strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals Life ScienceConsumer Goods, Materials & Chemicals, Manufacturing & Manufacturing, Food & Beverage, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.
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