The global gastric cancer market is anticipated to grow at a modest CAGR of around 6.8% during the forecast period (2021-2027). The rising prevalence of gastric cancer and the growing geriatric population is the major factor driving the growth of the market. According to the American Cancer Society, stomach cancer accounts for about 1.5% of all new cancers diagnosed in the US each year. Stomach cancer mostly affects older people. The average age of people when they are diagnosed is 68. About 6 of every 10 people diagnosed with stomach cancer each year are 65 or older. According to WHO, approx. 800,000 cancer-related death are caused by gastric cancer every year. Due to the increase in the number of gastric cancer cases, the demands for advanced and effective treatments increase, which positively affected the market growth. Additionally, the new combined therapies also proved best for the cancer treatments, such as when chemotherapy combined with radiation therapy gives better results.
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The rising FDA approvals for cancer treatments drugs is the major factor that is expected to increase these drug demands and will offer various opportunities to manufacturers. For instance, in April 2021, the FDA approved Nivolumab in combination with certain types of chemotherapy for the initial treatment of patients with advanced or metastatic gastric cancer, gastroesophageal junction cancer and esophageal adenocarcinoma. Moreover, in January 2021, the FDA approved Enhertu (trastuzumab deruxtecan) drug, produced by AstraZeneca and Daiichi Sankyo Co., Ltd, for the treatment of adult patients with locally advanced or metastatic HER2-positive gastric cancer. Considering these FDA approvals, considerable growth can be expected in the global gastric cancer market during the forecast period.
A Full Report of Global Gastric Cancer Market is Available at: https://www.omrglobal.com/industry-reports/gastric-cancer-market
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Gastric Cancer Market Report Segment
By Testing Type
- Chest X-Ray
- Computed Tomography (CT OR CAT) Scan
- Laparoscopy
- Magnetic Resonance Imaging (MRI) Scan
- Positron Emission Tomography (PET) Scan
- Others (Upper Gastrointestinal (GI) Series)
By Treatment Type
- Chemotherapy
- Radiation Therapy
- Surgery
- Targeted Therapy
- Immunotherapy
By End-Users
- Hospitals & Clinics
- Specialized Cancer Treatment Centers
- Others (Ambulatory Surgical Centers)
(This release has been published on Global Market Post. Global Market Post is not responsible for any content included in this release.)
