June 10, 2020
According to the research report titled ‘Global Gastric Cancer Drugs Market Size study with COVID-19 impact, by Route of Administration (Oral. Parenteral), by Lines of Chemotherapy (First-line Chemotherapy, Second-line Chemotherapy), by Molecule Type (Small Molecule, Biologics) and Regional Forecasts 2020-2026’, available with Market Study Report LLC, global gastric cancer drugs market was worth USD 3 billion in 2019 and is estimated to witness a CAGR of 15.5% over 2020-2026.
Gastric cancer or stomach cancer is a rare disease which is caused by the growth of cancerous cells in the lining of the stomach. It is difficult to detect such kind of cancer as there may be no symptoms in the early stages.
Stomach polyps, tumors in other parts of the digestive system, and lymphoma can also lead to gastric cancer. Chemo drugs used for the treatment of gastric cancer symptoms include Carboplatin, Capecitabine (Xeloda), and 5-FU (fluorouracil), given with leucovorin (folinic acid).
Unhealthy diet, growing elderly population, and rising number of obesity instances are few of the factors which are likely to contribute to the high CAGR of the market in the estimated timeframe.
The National Cancer Institute (NCI) stated that around 28,000 new cases of gastric cancer were recorded in 2017. NCI also estimates that gastric cancer is about 1.7% of the new cancer cases recorded in the U.S.
According to GLOBOCAN, 769,728 instances of gastric cancer were found in Asia in the year 2018, which is anticipated to reach 947,186 by 2025.
Gastric cancer therapies provided to patients are slated to have a positive impact on the product demand. The shifting focus of the pharma industry on the development of COVID-19 vaccine has curtailed R&D initiatives in the field of gastric cancer. Though this has not impacted the demand for gastric cancer medications, and analysts reckon that the sales level remain similar to pre COVID times.
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On the other hand, the high cost of cancer therapy and strict policies and regulations for the approval of the medications may hamper the market growth in the estimated timeframe.
Based on the route of administration, the market is classified as Oral and Parenteral administration. In terms of the line of chemotherapy, the market is divided into first line and second line chemotherapy. As per molecule type, the market is bifurcated into Biologics and Small Molecule.
From the regional point of view, the key regions include Latin America, Europe, North America, Rest of the world, and Asia-Pacific. Asia-Pacific is projected to witness record sales in the approaching years, pertaining to the large number of consumers seeking the treatment, specifically in China, Japan, and India. North America is expected to witness a high CAGR over 2020-2026.
The leading organizations in the global gastric cancer drugs market are ASLAN Pharmaceuticals, Galena Biopharma, ELI Lilly, ARIAD Pharmaceuticals, AstraZeneca, Taiho Oncology, Array Biopharma, Ipsen Biopharmaceuticals, AROG Pharmaceuticals, and Amgen among others.