Global Stomach Cancer Treatment Market Shows Promising Growth Prospects: Rising Prevalence and Advanced Therapies Drive Expansion
Preliminary research conducted by Fairfield Market Research points to a bright future for the global stomach cancer treatment market in the coming years. The market is poised for substantial growth, driven by a surge in the prevalence of gastric cancer, the adoption of targeted therapy, and the introduction of novel drugs.
- Rising Prevalence of Gastric Cancer Fuels Growth: The World Health Organization predicts a significant increase in stomach cancer cases, reaching 1.24 million by 2025. Globocan reported approximately 1.1 million gastric cancer cases in 2020, with expectations of exceeding 1.4 million by 2030. This growing prevalence has imposed both financial and emotional burdens on patients, prompting pharmaceutical companies to innovate and develop novel treatments. Additionally, the COVID-19 pandemic led to delays in cancer diagnosis and treatment, further emphasizing the need for advanced therapies to combat stomach cancer.
- Targeted Therapy Takes Center Stage: The adoption of targeted therapy is gaining momentum in stomach cancer treatment due to its precision in destroying cancer cells. Japan Pharmaceuticals and Medical Devices Agency (PMDA) approval of Merck’s KEYTRUDA in November 2021 exemplifies the advancements in targeted therapies, offering a ray of hope for patients with unresectable or advanced esophageal carcinoma.
- Increasing Pipeline Candidates and FDA Approvals: Pharmaceutical giants are actively investing in R&D to develop advanced drugs for stomach cancer. With several potential candidates in their final clinical trial stages and subsequent FDA approvals, the market is set to witness substantial growth. Examples include MacroGenics’ Margetuximab and LintonPharm’s Catumaxomab.
- North America Leads the Way: North America is expected to dominate the stomach cancer treatment market, driven by a rising number of gastric cancer cases and the adoption of advanced therapies. In Canada alone, around 4,000 individuals are expected to develop stomach cancer. Superior healthcare infrastructure, government support, and cutting-edge technology in cancer treatment centers further contribute to North America’s leadership in this market.
- Competitive Landscape: Key players in the stomach cancer treatment market, such as Eli Lilly and Company, Pfizer Inc., Merck & Co. Inc., and others, are leveraging strategies like acquisitions, partnerships, and new product launches to gain a competitive edge.
The global stomach cancer treatment market is on a trajectory of substantial growth, driven by the pressing need for effective treatments amid rising gastric cancer cases. The emergence of advanced therapies and promising pipeline candidates offer hope to patients and opportunities for pharmaceutical companies to make a positive impact on this challenging medical condition.
Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 – By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa) https://www.fairfieldmarketresearch.com/report/stomach-cancer-treatment-market
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This press release first seen on Brilad