Published Date: 26-May-2023
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According to a new report, published by KBV research, The Global Gastric Cancer Market size is expected to reach $6.9 billion by 2029, rising at a market growth of 17.6% CAGR during the forecast period.
The Oral segment is showcasing a CAGR of 19.3% during (2023 - 2029). To minimize the time-consuming IV administration, some businesses are creating oral chemotherapy medicines. As this route of administration is mostly favored by patients due to its ease in use. Also, oral chemotherapy has gained significant attention due to the growing importance of patients' quality of life, cost containment, and convenience. Hence, these factors associated with the oral drugs for gastric cancer the segment is expected to surge.
The Chemotherapy segment acquired maximum revenue share in the Global Gastric Cancer Market by Treatment Type in 2022 thereby, achieving a market value of $2.6 billion by 2029. Chemotherapy is a type of systemic medicine used to eradicate cancer cells across the body. When gastric cancer is progressed, chemotherapy can be utilized to target cancer cells which have spread outside of the stomach, to reduce the tumor before surgery, and to treat symptoms.
The Adenocarcinoma segment has shown the growth rate of 16.4% during (2023 - 2029). Mucus-making (glandular) cells are the origin of the cancer form known as adenocarcinoma. These cell types can be found in many organs, and adenocarcinoma can form in any of them. Gastric adenocarcinoma is becoming more common, and immuno-checkpoint inhibitors and targeted therapy are being used more frequently to treat it. The segment is predicted to increase favorably given the potential pipeline prospects and the growing trend of research collaborations.
The Specialty & Retail Pharmacies segment is generating highest revenue share in the Global Gastric Cancer Market by Distribution Channel in 2022 thereby, achieving a market value of $3.5 billion by 2029. By giving patients access to medications, encouraging adherence to therapy, and providing specialized services and resources, specialty & retail pharmacies play a crucial part in the care of stomach cancer. Additionally, specialty and retail pharmacies offer services like the availability of OTC and prescription drugs, patient convenience, and the expectation for better treatment outcomes.
The HER2 Antagonists segment is poised to grow at a CAGR of 18.2% during (2023 - 2029). The government's approval of trastuzumab biosimilars and the existence of potential pipeline candidates are anticipated to fuel the expansion of the HER2 antagonist’s market. Clinicians have always focused on molecular-targeted therapy for cancer. The HER-2 signaling pathway is a popular target for translational research in cancer among therapeutic targets, aiding the segment’s expansion.
The Asia Pacific market dominated the Global Gastric Cancer Market by Region in 2022, and would continue to be a dominant market till 2029; thereby, achieving a market value of $2.6 billion by 2029. The Europe market is exhibiting a CAGR of 16.9% during (2023 - 2029). Additionally, The North America market would showcase a CAGR of 17.1% during (2023 - 2029).
Full Report: https://www.kbvresearch.com/gastric-cancer-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Novartis AG, Pfizer, Inc., Viatris, Inc. (Mylan N.V.), F. Hoffmann-La Roche Ltd., Eli Lilly And Company, Merck & Co., Inc., Teva Pharmaceuticals Industries Ltd., Bristol Myers Squibb Company, Celltrion Healthcare Co., Ltd., and Samsung Biologics Co., Ltd. (Samsung Bioepis Co., Ltd.).
By Route of Administration
By Treatment Type
By Disease Type
By Distribution Channel
By Drug Class
Unique Offerings from KBV Research
North America Gastric Cancer Market size & Opportunities 2023-2029
Europe Gastric Cancer Market & Growth Forecast 2023-2029
Asia Pacific Gastric Cancer Market Share & Industry Outlook to 2029
LAMEA Gastric Cancer Market Growth, Trends & Forecasts 2023-2029