Gastric Cancer Drugs Global Market Report 2023
Major players in the gastric cancer drugs market are Eli Lilly and company, Novartis, Merck KGaA, Otsuka Pharmaceutical, F. Hoffmann-La Roche, GlaxoSmithKline PLC, Bristol-Myers Squibb, Sanofi, Pfizer Inc.
New York, Feb. 20, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Gastric Cancer Drugs Global Market Report 2023" - https://www.reportlinker.com/p06245006/?utm_source=GNW
, AstraZeneca, Bayer Healthcare, Abbott, AROG Pharmaceuticals, Ipsen Biopharmaceuticals, Array Biopharma, Taiho Oncology, AstraZeneca, ARIAD Pharmaceuticals, Ono Pharmaceutical, Jiangsu HengRui Medicine, Gilead Bioscience, Celgene/Taiho, Boston Biomedical, Imugene Limited, Boehringer Ingelheim, Daiichi-Sankyo, Danaher corporation.
The global gastric cancer drugs market will grow from $3.02 billion in 2022 to $3.38 billion in 2023 at a compound annual growth rate (CAGR) of 11.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The gastric cancer drugs market is expected to grow to $5.03 billion in 2027 at a CAGR of 10.5%.
The gastric cancer drugs market consists of sales of cyramza, docetaxel, and doxorubicin hydrochloride.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Gastric cancer drugs refer to anti-cancer medications that are taken orally as pills or are injected into a vein (via an IV line or central venous catheter). This treatment is effective for cancer that has spread to organs other than those where it originated since these medications penetrate the bloodstream and reach every part of the body.
North America was the largest region in the gastric cancer drugs market in 2022.Middle East is expected to be the fargest growing region in the forecast period.
The regions covered in the gastric cancer drugs market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of gastric cancer drugs are doxorubicin hydrochloride, sunitinib, docetaxel, mitomycin, fluorouracil, imatinib, and trastuzumab.Sunitinib is a chemotherapeutic agent and receptor tyrosine kinase inhibitor used to treat renal cell carcinoma (RCC) and imatinib-resistant gastrointestinal stromal tumor (GIST).
The drugs are administered through oral and parenteral that are used by hospitals, clinics, and others.
An increasing number of obesity cases and the smoking population increased the number of people suffering from gastric cancer.Consuming tobacco and following diet unhealthy diet increases the risk of stomach cancer.
According to the estimates of the American Institute for Cancer Research for 2020, about 27,600 cases of stomach cancer will be diagnosed (16,980 in men and 10,620 in women). An increase in several cases of gastric cancer will drive the market for gastric cancer drugs.
Stringent regulations and policies for approval of the drugs restrain the market for gastric cancer drugs.Different regions have their own set of rules, guidelines, and regulations set by their respective drug regulation board.
For example, the USFDA regulations for American pharmaceuticals state various conditions about the safety and effectiveness of the drug as well as certain labeling requirements.Similarly, the European medicines agency (EMA) gives licenses to the approved drugs before they can be marketed or commercialized in the European continent.
Teysuno, a drug for advanced gastric cancer can be only obtained through a valid prescription and the protocol is that every company must assess the effects of using Teysuno and must list the precautions to be taken by patients and healthcare providers to minimize any possible side effects. These regulations hinder the growth of the gastric cancer drugs market.
Many companies are using combination therapies to cure gastric cancer.Combination therapies improve patient care by treating patients with two or more drugs for a single disease.
For instance, in January 2021, AstraZeneca plc, a UK-based pharmaceutical and biotechnology company, announced that for the treatment of adult patients with locally progressed or metastatic HER2-positive gastric or gastroesophageal junction (GEJ) adenocarcinomas who have previously undergone a trastuzumab-based regimen, Enhertu (trastuzumab deruxtecan) has been approved in the US by the Food and Drug Administration (FDA). This trastuzumab plus a fluoropyrimidine- and platinum-based chemotherapy combination is administered to patients suffering from advanced gastric cancer or GEJ adenocarcinoma.
The gastric cancer drugs market is regulated by government agencies such as European Medicines Agency (EMA), USFDA (the US food and drug ministration), and others.For instance, FDA’s Current Good Manufacturing Practice (CGMP) regulation lays down minimum requirements for the methods and facilities used in manufacturing, processing, and packing of a drug product and ensures the quality of drugs produced by manufacturers.
Moreover, FDA’s guidance provides recommendations to applicants for cancer clinical trials and shows support for new drug applications (NDAs), biologics license applications (BLAs), or supplemental applications.
In March 2021, Amgen Inc., a US-based biopharmaceutical company specializing in the discovery, development, manufacturing, and commercialization of drugs and novel therapeutics, acquired Five Prime Therapeutics, Inc. for an amount of $1.9 billion. Through this acquisition, Amgen increases its oncology product portfolio, gastric cancer treatment assets, monoclonal antibody manufacturing capabilities, and drug development capabilities, including those for biological drugs for the treatment of advanced gastric or gastroesophageal junction (GEJ) cancer. Five Prime Therapeutics, Inc. is a clinical-stage biotechnology company pioneering in the discovery and development of immuno-oncology protein therapeutics for cancer treatment.
The countries covered in the gastric cancer drugs market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).
The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.
The gastric cancer drugs market research report is one of a series of new reports that provides gastric cancer drugs market statistics, including gastric cancer drugs industry global market size, regional shares, competitors with a gastric cancer drugs market share, detailed gastric cancer drugs market segments, market trends and opportunities, and any further data you may need to thrive in the gastric cancer drugs industry. This gastric cancer drugs market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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