The Gastric Cancer Therapy Market size is estimated at USD 5.32 billion in 2024, and is expected to reach USD 9.64 billion by 2029, growing at a CAGR of 12.63% during the forecast period (2024-2029).
North America is expected to hold a significant share in the gastric cancer therapy market over the forecast period owing to the factors such as the increasing prevalence of gastric cancer, rising adoption of targeted cancer therapy, and the availability of advanced technology in cancer research and treatment centers. For instance, according to the May 2021 update by the Canadian Cancer Society, 4,100 Canadians were diagnosed with gastric cancer in 2022.
Also, according to the American Cancer Society 2023 statistics, 26,500 cases are estimated to be diagnosed with stomach cancer in 2023 in the United States. Thus, the increasing number of gastric cancer cases in the region is expected to rise the demand for effective therapies for treating patients with gastric cancer which in turn is anticipated to fuel the market growth over the forecast period.
Furthermore, the rising company activities in conducting clinical trials for developing effective drugs for patients suffering from gastric cancer and increasing product launches and approvals in the region, are expected to fuel the market growth. For instance, in April 2021, the FDA approved Bristol Myers Squibb's Opdivo in combination with fluoropyrimidine and platinum-containing chemotherapy, for the treatment of patients with advanced or metastatic gastric cancer, gastroesophageal junction cancer, and esophageal adenocarcinoma.
Similarly, in January 2021, the FDA approved Enhertu for the treatment of adult patients with locally advanced or metastatic HER2-positive gastric or gastroesophageal junction (GEJ) adenocarcinoma. Similarly, in November 2022, Organon Canada launched Ontruzant, a biosimilar of the reference biologic Herceptin, providing patients in Canada with certain breast and gastric cancers with an additional therapeutic option at a lower cost.
Therefore, the increase in cases of gastric cancer and the rise in product launches by the key players are expected to bolster the market growth in the North American region.
The gastric cancer therapy market is moderately competitive and consists of a few major players. In terms of shares, a few of the major players are currently dominating the market. Some of the major players in the market are F. Hoffmann-La Roche Ltd, Bristol-Myers Squibb, Pfizer, Merck & Co. Inc., and Celltrion Inc., among others.
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