Gastric Cancer Therapy Market Size

Gastric Cancer Therapy Market Analysis

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).

• The COVID-19 pandemic affected healthcare systems globally and had a significant impact on the gastric cancer therapy market. Diagnosis and therapies for gastric cancer were delayed or canceled due to the global lockdown. For instance, as per the article published in March 2023 in PubMed, during the first year of the pandemic, the management of gastric cancer patients was globally affected by decreasing the frequency of multidisciplinary team meetings and the number of elective gastrectomies.
• During the COVID-19 pandemic, cancer patients were put at risk of adverse outcomes because of delays in diagnosis and treatment. As a result of the treatment and diagnosis delays, the pandemic had a substantial impact on market growth. However, the market has currently returned to its pre-pandemic state in relation to the demand for gastric cancer treatments.
• This is attributed to the elevated incidence of gastric cancer cases and several technological advancements. It is anticipated that the market will experience robust growth in the upcoming years.Certain factors that are propelling the market growth are the growing burden of gastric cancer and the introduction of novel therapies for metastatic cancer coupled with an increase in research and development activities by the key players.
• For instance, according to the Cancer Australia 2022 statistics, 2,572 new cases of stomach cancer were diagnosed in Australia (1,661 males and 911 females) in 2022. Thus, the high prevalence of stomach cancer is expected to increase the demand for gastric cancer therapies, thereby contributing to market growth. Thus, the rising burden of stomach cancer among the population is expected to raise the demand for effective treatment and therapies, which in turn is anticipated to fuel market growth.
• Furthermore, the rising company's focus on developing novel drugs and therapies for treating gastric cancer, coupled with increasing product launches, are all expected to boost the market growth over the forecast period. For instance, in November 2021, Natco Pharma launched a novel fixed-dose combination of Trifluridine and Tipiracil used to treat advanced colorectal and gastric cancer.
• Similarly, in February 2022, Ono Pharmaceutical Co., Ltd. and Bristol-Myers Squibb signed an outsourcing agreement with Prime Research Institute for Medical RWD, Inc. on an industry-sponsored, large-scale, multi-institutional clinical research in patients with gastric cancer treated with Opdivo in combination with chemotherapy.
• The study was conducted utilizing the PRiME-R's data input support system 'CyberOncology' which standardizes, structures, manages, and integrates real-world data in daily cancer clinical practice. Furthermore, in April 2022, BDR Pharmaceuticals launched Furmecil, a generic oral drug for the treatment of advanced gastric cancer. Thus, the emergence of various drugs to treat gastric cancer is expected to contribute to the growth of the market over the forecast period.
• Furthermore, in June 2023, Astellas Pharma submitted a New Drug Application (NDA) to Japan's Ministry of Health, Labour and Welfare (MHLW) for zolbetuximab, an investigational Claudin 18.2 (CLDN18.2)-targeted monoclonal antibody, indicated for the treatment of patients with locally advanced unresectable or metastatic HER2-negative gastric or gastroesophageal junction (GEJ) adenocarcinoma.
• Thus, due to the rise in gastric diseases and strategic activities coupled with research and development, the studied market is expected to witness significant growth over the forecast period. However, the high cost of cancer therapy and the side effects of drugs are likely to restrain the market growth over the forecast period.