Increasing Gastric Cancer Cases Is A Key Growth Contributor To The Gastric Cancer Drugs Market

Gastric Cancer Drugs Market - Global Forecast To 2030

Gastric Cancer Drugs Market – Forecast To 2030

The Business Research Company’s Gastric Cancer Drugs Market – Opportunities And Strategies – Global Forecast To 2030

LONDON, GREATER LONDON , UK, October 27, 2021 / — The rise in the number of gastric cancer cases across the globe is likely to contribute to the growth of the gastric cancer drugs market during the forecast period. According to the estimates stomach cancer is the fifth most commonly diagnosed cancer globally and approximately 27,600 new cases of stomach cancer will be diagnosed in the US in 2020. According to the American Cancer Society, it is estimated that there will be 26,560 new cases of stomach cancer and 11,180 deaths from gastric cancer in the United States in 2021. Therefore, the rise in gastric cancer incidence rate globally is anticipated to boost the demand for gastric cancer drugs over the forthcoming years.

Many companies in the gastric cancer drugs market are strategically partnering and collaborating with other companies to broaden their product portfolios and expand their gastric cancer drugs business. These collaborations are helping drug manufacturing companies to enhance their product strength in specific therapy areas. For instance, Basilea Pharmaceutica entered into a clinical trial collaboration and supply agreement with Eli Lilly and Company for the use of the anti-VEGFR2 antibody ramucirumab (CYRAMZA®) 1 in the ongoing multi-cohort phase 1/2 study FIDES-03 with the FGFR inhibitor derazantinib in advanced gastric (stomach) cancer patients with FGFR genetic aberrations.

The global gastric cancer drugs market size reached a value of nearly $2.52 billion in 2020, having decreased at a compound annual growth rate (CAGR) of -13.6% since 2015. The market is expected to grow from $2.52 billion in 2020 to $3.91 billion in 2025 at a rate of 9.2%. The gastric cancer drugs market is then expected to grow at a CAGR of 4.3% from 2025 and reach $4.83 billion in 2030.

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Major players covered in the global gastric cancer drugs industry are F. Hoffmann-La Roche, Eli Lilly and Company, Otsuka Pharmaceutical, Jiangsu HengRui Medicine, Biocon.

TBRC’s global gastric cancer drugs market report is segmented by type into doxorubicin hydrochloride, sunitinib, docetaxel, mitomycin, fluorouracil, imatinib, trastuzumab, by end user into hospitals, clinics, others, by route of administration into oral, parenteral.

The parenteral market was the largest segment of the gastric cancer drugs market segmented by route of administration, accounting for 57% of the total in 2020. Going forward, it is expected to be the fastest growing segment in the gastric cancer drugs market segmented by route of administration, at a CAGR of 6.0% during 2020-2025.

Gastric Cancer Drugs Market – By Type (Imatinib, Trastuzumab), By End-User (Hospitals, Clinics Cancer Specialty Centers), By Route of Administration (Oral, Parental) And By Region, Opportunities And Strategies – Global Forecast To 2030 is one of a series of new reports from The Business Research Company that provides gastric cancer drugs global market overview, forecast gastric cancer drugs global market size and growth for the whole market, gastric cancer drugs market segments, and geographies, gastric cancer drugs market trends, gastric cancer drugs market drivers, restraints, leading competitors’ revenues, profiles, and market shares.

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Source: EIN Presswire