Stomach Cancer Treatment Market worth $8 billion by 2027
The report "Stomach Cancer Treatment Market by Treatment, Type (Chemotherapy, Immunotherapy), Disease Indication (Gastric Cancer), Route of Administration, Drug Class (PD-1/PD-L1 inhibitors, HER2 antagonists), Distribution Channel - Global Forecast to 2027", is projected to reach USD 8 billion by 2027 from USD 4 Billion in 2022, at a CAGR of 14% during the forecast period
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Factors such as lifestyle changes such as dietary changes and sedentary lifestyles, rising geriatric population, and increasing prevalence of stomach cancer are projected to drive the growth of the market during the forecast period. Furthermore, recent approvals of therapeutics for stomach cancer treatment are likely to support the market growth. Some of the recently approved therapeutics are Opdivo (April 2021) and Enhertu (January 2021), approved for initial treatment of patients with metastatic or advanced GC/GEJC and HER-2-positive metastatic gastric cancer respectively.
The chemotherapy segment accounted for the largest share of the stomach cancer treatment market in 2021.
Based on type, the market is segmented into chemotherapy, immunotherapy, and targeted therapy. In 2021, the chemotherapy segment accounted for the largest share of the stomach cancer treatment market. The key factors driving the growth of this market are chemotherapy being the first-line therapy for patients diagnosed in early stomach cancer and high prescription rate for chemotherapy. Chemotherapy is either given as neoadjuvant chemotherapy or adjuvant chemotherapy to kill the cancerous cells.
North America to command the largest share of the stomach cancer treatment market in 2021
Based on region, the stomach cancer treatment market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific accounted for the largest share of the stomach cancer treatment market in 2021. The growth of the Asia Pacific market is primarily driven by the rising prevalence of gastric cancer and high preference of chemotherapy as treatment of cancer. In 2020, there were nearly 138,000 and 479,000 newly diagnosed stomach cancer cases in Japan and China respectively.
Prominent players in the stomach cancer treatment market include Novartis AG (Switzerland), Pfizer, Inc. (US), Mylan N.V. (US), F. Hoffmann La Roche Ltd. (Switzerland), Eli Lilly and Company (US), Merck & Co., Inc. (US), Teva Pharmaceutical Industries Ltd. (Israel), Celltrion Healthcare Co., Ltd. (South Korea), Samsung Bioepis (South Korea), and Bristol Myers Squibb Company (US).
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