Fairfield Market Research, a renowned market intelligence firm, has conducted preliminary research that indicates a promising growth outlook for the global stomach cancer treatment market in the coming years. The rising prevalence of gastric cancer and the growing adoption of targeted therapy and immunotherapy are expected to drive the market's expansion. This press release provides an overview of the key findings from the research.
Read More: https://www.fairfieldmarketresearch.com/report/stomach-cancer-treatment-market
Rising Prevalence of Gastric Cancer to Drive Stomach Cancer Treatment Market Growth The World Health Organization (WHO) predicts a significant increase in stomach cancer cases, estimating that it will reach 1.24 million in 2025. Similarly, as per Globocan's data, there were approximately 1.1 million gastric cancer cases in 2020, and this number is expected to surpass 1.4 million by 2030. The escalating prevalence of stomach cancer is placing a considerable financial and mental burden on patients, prompting pharmaceutical companies to develop novel drugs for treatment. Furthermore, the delays in diagnosis and treatment caused by the COVID-19 pandemic have led to a rise in cancer spread, increasing the demand for innovative therapeutics to combat gastric cancer in the post-COVID-19 era.
Targeted Therapy Leading the Charge in the Stomach Cancer Treatment Market The adoption of targeted therapy is on the rise as it offers an efficient means of destroying cancer cells. By targeting specific genes in the cancer cells, this approach allows for precise and effective treatment. Notably, the approval of Merck's KEYTRUDA as a first-line cancer treatment for advanced esophageal carcinoma has further boosted the growth of targeted therapies. With the increasing cases of stomach cancer and the development of new targeted therapies, this segment is poised to contribute significantly to the stomach cancer treatment market's value growth.
Increasing Pipeline Candidates and FDA Approvals to Propel Market Growth Major pharmaceutical companies are actively investing in research and development to produce novel drugs for stomach cancer treatment. Several potential candidates are in their final stages of clinical trials and awaiting FDA approval. For instance, MacroGenics' Margetuximab received Orphan Drug Designation from the FDA for its use in treating gastroesophageal junction and gastric cancer. Similarly, LintonPharm's Catumaxomab is undergoing a phase 3 clinical trial for advanced gastric cancer and peritoneal carcinomatosis in China. The advent of these new drugs, along with the demand for biosimilars in stomach cancer treatment, is expected to drive the market's growth.
North America Leading the Global Stomach Cancer Treatment Market From a value standpoint, North America is anticipated to hold a significant share in the stomach cancer treatment market. The region's rising incidence of gastric cancer and the increasing adoption of advanced targeted therapies contribute to its leadership position. Notably, Bristol Myers Squibb's Opdivo and AstraZeneca's Enhertu have received FDA approval for treating metastatic or advanced gastroesophageal junction and gastric adenocarcinoma. These approvals, along with robust healthcare infrastructure and government support, create a favorable environment for stomach cancer treatment market growth.
Competitive Landscape Major players in the stomach cancer treatment market include 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 companies are employing various strategies such as acquisitions, partnerships, collaborations, and new product launches to gain a competitive advantage in the market.
In conclusion, Fairfield Market Research's preliminary findings paint a positive picture for the global stomach cancer treatment market. With the rising prevalence of gastric cancer and the advancements in targeted therapies, the market is expected to witness significant growth in the coming years.
FAQs 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 in the next few years.
What factors are driving the growth of the stomach cancer treatment market? The growth of the stomach cancer treatment market is primarily driven by the rising prevalence of gastric cancer, growing adoption of targeted therapy, and the development of novel drugs.
How does targeted therapy contribute to the stomach cancer treatment market? Targeted therapy offers an efficient means of destroying cancer cells by targeting specific genes in the cancer cells. It is increasingly being used in the treatment of stomach cancer, leading to significant market growth.
Which region is expected to lead the global stomach cancer treatment market? North America is anticipated to hold a major share in the stomach cancer treatment market, driven by the region's rising cases of gastric cancer and increasing adoption of advanced targeted therapies.
Who are the major players in the stomach cancer treatment market? Major players in the stomach cancer treatment market include Eli Lilly and Company, Celltrion Inc., Pfizer Inc., Merck & Co. Inc., F. Hoffmann-La Roche Ltd., and others, who are employing various strategies to gain a competitive advantage.
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