Stomach Cancer Treatment Market: Optimizing Treatment Regimens (20232030)
Fairfield Market Research, a renowned market research firm, has recently released a comprehensive report on the global stomach cancer treatment market, indicating a promising growth outlook over the next few years. The report highlights the rising prevalence of gastric cancer as a key factor driving the expansion of the stomach cancer treatment market. The increasing adoption of targeted therapy and immunotherapy, along with new drug launches, is poised to contribute significantly to the market's growth.
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Rising Prevalence of Gastric Cancer to Complement Growth of Stomach Cancer Treatment Market
According to the World Health Organization, the number of stomach cancer cases is projected to rise to 1.24 million by 2025. Similarly, data from Globocan reveals that gastric cancer cases were approximately 1.1 million in 2020 and are expected to surpass 1.4 million by the end of 2030. The escalating prevalence of stomach cancer has placed a significant financial and mental burden on patients, prompting pharmaceutical companies to focus on developing novel drugs for treatment. The challenges posed by the COVID-19 pandemic also led to delays in cancer diagnosis and
treatment, resulting in a surge in the severity and spread of the disease. This has led to a greater adoption of innovative therapeutics, which, in turn, is bolstering the growth of the stomach cancer treatment market.
Targeted Therapy Poised to Account for a Significant Revenue Share in the Stomach Cancer Treatment Market
Targeted therapy has emerged as an efficient approach in the treatment of stomach cancer. By specifically targeting cancer cells based on their unique genetic traits, targeted therapy enables more effective eradication of these cells. The increasing application of targeted therapies and the approval of new products are expected to drive the growth of the stomach cancer treatment market. Notably, in November 2021, Japan Pharmaceuticals and Medical Devices Agency (PMDA) granted approval for Merck’s KEYTRUDA, the first-line treatment for patients with radically unresectable, recurrent, or advanced esophageal carcinoma. This approval and similar developments are likely to contribute to the market's positive outlook.
Increasing Pipeline Candidates and FDA Approvals to Augment Growth of the Stomach Cancer Treatment Market
Several major pharmaceutical companies are actively investing in research and development to produce novel and advanced drugs for stomach cancer treatment. Numerous potential candidates are in their final stages of clinical trials, and upon receiving FDA approval, their commercial manufacturing and global release are expected to significantly impact the stomach cancer treatment market. For example, MacroGenics was granted the Orphan Drug Designation (ODD) by the US Food and Drug Administration (FDA) for its Margetuximab, used in the treatment of gastroesophageal junction and gastric cancer. Similarly, LintonPharm received authorization from Chinese health authorities to proceed with a phase 3 clinical trial to evaluate Catumaxomab, designed for individuals suffering from advanced gastric cancer and peritoneal carcinomatosis. These advancements, coupled with the growing demand for biosimilars, are expected to provide momentum to the market's growth.
North America Likely to Lead the Global Stomach Cancer Treatment Market
From a value standpoint, North America is expected to hold a major share in the stomach cancer treatment market. The region's increasing number of gastric cancer cases, combined with the growing adoption of advanced targeted stomach cancer therapy, is driving market growth. For instance, Canada is projected to see around 4,000 new cases of stomach cancer, and Globocan reported approximately 29,772 new stomach cancer cases in North America, with an additional 8,804 cases in Mexico, all in the year 2020. The availability of superior healthcare infrastructure, favorable government support, and the use of advanced technology in cancer treatment and research centers also contribute to the region's leadership in the market. Furthermore, the approval of innovative drugs by the FDA, such as Bristol Myers Squibb’s Opdivo and AstraZeneca’s Enhertu, has opened new avenues for treating metastatic or advanced gastric cancer and gastroesophageal junction or gastric adenocarcinoma, respectively.
Stomach Cancer Treatment Market: Competitive Landscape
In the stomach cancer treatment market, several major players are leading the way, including Eli Lilly and Company, Celltrion Inc., Pfizer Inc., Merck & Co. Inc., F. Hoffmann-La Roche Ltd., Ipsen Pharma, Jiangsu Hengrui Medicine Co. Ltd., Bristol Myers Squibb Company, Bayer AG, Taiho Pharmaceutical Co. Ltd., and Novartis AG. These players are actively engaging in various strategies, such as
acquisitions, partnerships, collaborations, and new product launches, to gain a competitive advantage.
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Conclusion
The preliminary research conducted by Fairfield Market Research highlights the promising growth prospects for the global stomach cancer treatment market. As the prevalence of gastric cancer continues to rise, the market is witnessing increased adoption of targeted therapy and immunotherapy, along with the development of novel drugs. North America, with its advanced healthcare infrastructure and favorable government support, is expected to lead the market. The continuous efforts of pharmaceutical companies in research and development are likely to introduce new treatment options, further boosting the growth of the stomach cancer treatment market in the years to come.
FAQs
1. What is the growth outlook for the global stomach cancer treatment market? Fairfield Market Research's preliminary research indicates a promising growth outlook for the global stomach cancer treatment market over the next few years.
2. What factors are driving the growth of the stomach cancer treatment market? The rising prevalence of gastric cancer and the increasing adoption of targeted therapy and immunotherapy, along with new drug launches, are key factors driving the growth of the stomach cancer treatment market.
3. How is targeted therapy contributing to the market's growth? Targeted therapy, by specifically targeting cancer cells based on their genetic traits, is proving to be an efficient approach in the treatment of stomach cancer, thus contributing to market growth.
4. What role are FDA approvals playing in the market's expansion? FDA approvals for new drugs and treatments are positively impacting the stomach cancer treatment market, offering innovative options for patients.
5. Which region is expected to lead the global stomach cancer treatment market? North America is likely to lead the global stomach cancer treatment market due to the region's increasing number of gastric cancer cases and the growing adoption of advanced targeted therapy.
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