Stomach Cancer Market is expected to reach US$ 10,751.42 million by 2030

Publisher: The Insight Partners

According to our new research study on “Stomach Cancer Market Size and Forecast to 2030 – Global and Regional Analysis – by Type, Treatment, Route of Administration, and Distribution Channel,” the stomach cancer market is expected to grow from US$ 3,575.04 million in 2022 to US$ 10,751.42 million by 2030; the market is estimated to register a CAGR of 14.76% from 2022 to 2030. Key factors driving the market growth include the growing prevalence of gastric cancer, increasing adoption of targeted cancer therapy, and the accessibility of advanced technology in cancer research and treatment centers. The American Cancer Society anticipated that ~26,500 new cases of gastric cancer (15,930 in males and 10,570 in females) will be diagnosed in 2023. ~11,130 deaths (6,690 males and 4,440 females) will be due to gastric cancer. North America is well-developed in terms of the accessibility of advanced technological treatment options for reducing cancer, and businesses are working hard to compete with the well-known players in North America.

The geographic analysis of the stomach cancer market encompasses major regions such as North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. North America dominated the overall market in 2022. The market in North America is segmented into the US, Canada, and Mexico. The US holds the largest market share of the stomach cancer market in North America. Market growth in the country is attributed to the growing prevalence of gastric cancer, increasing adoption of targeted cancer therapy, and the accessibility of advanced technology in cancer research and treatment centers.

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The stomach cancer market, by type, is categorized into adenocarcinomas, gastrointestinal stromal tumors, neuroendocrine tumors, lymphoma, and others. The adenocarcinomas segment held a significant share of the market in 2022 and is expected to register the highest CAGR in the stomach cancer market during 2022–2030.

Based on treatment, the stomach cancer market is categorized into targeted and immunotherapy drugs, chemotherapy and combination drugs, and others. In 2022, the chemotherapy and combination drugs segment held a significant share of the market. The targeted and immunotherapy drugs segment is expected to register the highest CAGR in the stomach cancer market during 2022–2030. Adjuvant chemotherapy is the first-line therapy for patients diagnosed in early stages is generally surgery. Chemotherapy is provided to patients suffering from stomach cancer either as neoadjuvant chemotherapy or adjuvant chemotherapy to shrink the tumor or kill the cancerous cells. Targeted drugs such as Herceptin and Cyramza are being used for stomach cancer patients in the US population. In contrast, chemotherapy is still the standard of care in emerging countries such as China and India.

Based on route of administration, the stomach cancer market is segmented into oral, parenteral, and others. In 2022, the oral segment held a significant share of the market, and it is anticipated to record the fastest CAGR during 2022–2030.

Based on distribution channel, the stomach cancer market is categorized into hospital pharmacies, retail pharmacies, and online pharmacies. The hospital pharmacies segment held a significant share of the market in 2022 and is expected to register the highest CAGR during 2022–2030.

Stomach Cancer Market: Competitive Landscape and Key Developments:

Major players in the stomach cancer market include Bristol Myers Squibb Company; Novartis AG; Merck & Co., Inc.; Eli Lilly and Company; Biocon; Teva Pharmaceutical Industries Ltd; Celltrion Healthcare Co., Ltd; Samsung Bioepis; Pfizer Inc.; and Ipsen Pharma. These leading players adopt strategies such as the launch of new products, expansion and diversification of market presence, and expansion of new customer base, in turn tapping prevailing business opportunities.

A few of the inorganic strategies opted for by players in the stomach cancer market are mentioned below:

• In January 2021, AstraZeneca and Daiichi Sankyo Company received the approval of Enhertu from the US FDA for treating adult patients with advanced or metastatic HER2-positive gastric adenocarcinoma.
• In April 2021, the US FDA approved Opdivo (nivolumab) for the initial treatment of patients with metastatic or advanced gastric cancer.

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