The global stomach cancer treatment market size is expected to reach USD 8.20 billion by 2026, exhibiting a CAGR of 15.3% during the forecast period. One of the major forces behind the rise of this market is the increasing prevalence of cancer in general and stomach cancer in particular worldwide. The GLOBOCAN 2018, which is a report on the global burden of cancer produced by the International Agency for Research on Cancer (IARC), estimates that in 2018, new cancer cases will be around 18 million and cancer-related deaths will be close to 9.6 million. Further, stomach cancer will account for 8.2% of the new cancer cases. Statistics released by the World Cancer Research Fund (WCRF) substantiate the IARC’s findings. According to the WCRF, gastric cancer is the fourth mostly commonly diagnosed cancer worldwide, with 1 million new reported cases. As the incidence of stomach cancer increases across the globe, the demand for stomach cancer drugs will rise commensurately, spelling good news for this market.
An Overview of the Impact of COVID-19 on this Market:
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Fortune Business Insights™ shares the above information in its new report, titled “Stomach Cancer/Gastric Cancer Treatment Market Size, Share & Industry Analysis, By Drug Type (Programmed Cell Death Protein 1 (PD-1) Inhibitors, Human Epidermal Growth Factor Receptor (HER2) Antagonists, Vascular Endothelial Growth Factor Receptor (VEGFR) Antagonists, and Others), By Disease Indication (Gastric Adenocarcinoma, Gastrointestinal Stromal Tumor (GIST), and Gastric Neuroendocrine Tumors (gNET)), By Route of Administration (Oral and Parenteral) By Distribution Channel (Hospital Pharmacy, Retail Pharmacy, and Online Pharmacy) and Regional Forecast, 2019-2026”. According to the report, the market value stood at USD 2.61 billion in 2018. The other highlights of the report include:
• Elaborative overview of the industry outlook;
• 360-degree analysis of the factors driving and restraining the market;
• Careful study of the different market segments; and
• Detailed research into the regional and competitive dynamics influencing the market growth.
Encouraging Pipeline Candidates to Create Investment Opportunities
Potential pipeline candidates are being researched and developed as targeted therapies to treat gastric cancers. Targeted therapies involve specialized drugs that halt the spread of cancer by intervening or targeting specific molecules. For instance, Pfizer and EMD Serono Inc., is currently engaged in developing a drug called Avelumab for the treatment of advanced gastric cancer. Similarly, OncoQR ML recently declared that it has attained proof-of-concept (PoC) for its leading oncology product for gastrointestinal cancer called OQR100 (G17/little gastrin). Such research undertakings are emerging as one of the defining stomach cancer treatment market trends as these projects are encouraging players to focus their investment energies on enhancing their R&D capacities.