Global Statistics Representing Stomach Cancer Market Scenario
Stomach cancer, also known as gastric cancer, is the third leading cause for cancer-related deaths across the globe. Several genetic, infectious, environmental, and immunologic factors are known to cause stomach cancer. With the increasing prevalence of gastric cancer, it has become crucial for FDA to approve the launch of new and orphan drugs in the market. In August 2018, Alteogen Inc, a South Korean biotechnology company, received FDA approval for orphan drug designation for antibody-drug conjugate (ALT-P7) that would strengthen the cancer treatment further.
Stomach cancer is fifth most commonly diagnosed, and seventh-most prevalent cancer in the world. In 2017, around 1 million cases of gastric cancers were reported by World Health Organization. Helicobacter pylori infection is a strong risk factor for gastric cancer. According to WHO, around 63% of the stomach cancer deaths are caused by Helicobacter pylori infection. Also, Asia Pacific has the highest number of new cases i.e. 769,728 (74.5%), followed by Europe 133,133 (12.9%), Latin America, and the Caribbean 67,058 (6.5%). According to NIH, in the U.S. alone, 113,054 people had gastric cancer in 2017.
Global stomach cancer market is estimated to reach USD 6.5 billion by 2026 at a CAGR of 5.7% during the forecast period 2019–2026.
Global stomach cancer market is segmented by therapy, end-users, and regions.
By therapy, the stomach cancer market is segmented into targeted drug therapy, chemotherapy, and surgery.
Chemotherapy is one of the most popular and the second largest treatment used for treating stomach cancer. It is used along with monotherapy, combination therapy, and radiation therapy. 5-FU (fluorouracil), cisplatin, epirubicin, and oxaliplatin are some of the commonly used drugs in chemotherapy. In February 2019, US FDA has approved trifluridine/tipiracil (Lonsurf) for stomach cancer treatment. According to the survey conducted by WHO, around 5 out of every 10 neuroendocrine tumors starts in the stomach and is responsible for 783,000 deaths. According to the National Cancer Institute, the age-adjusted incidence of carcinoid tumors across the globe is approximately 2 per 100,000 persons with the average age of diagnosis 61.4 years. Additionally, carcinoid tumors represent about 0.5% of all newly diagnosed malignancies.
On the basis of end-users, the stomach cancer market is segmented into hospital and specialty clinics, cancer research & treatment centers, and others. Cancer research and treatment center is growing at the fastest CAGR following heavy investments in stomach cancer research and development, rising health expenditure, and increasing ongoing clinical trials for different drugs. As per National Cancer Institute, spending cost on stomach cancer was valued at USD 13.3 million in 2016 which increased to USD 13.4 million in 2017.
Geographically, the stomach cancer market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa (LAMEA).
Availability of advanced technologies, a growing number of specialty clinics and hospitals for cancer treatment, and increasing cases of stomach cancer are driving the North America stomach cancer market growth. According to the International Agency for Research on Cancer, in 2018, 29,275 new cases of stomach cancer were diagnosed and 13403 people have died of stomach cancer. In Canada alone, 3500 people were diagnosed with stomach cancer, out of which 2100 died from stomach cancer in 2017, Canadian Cancer Society.
The Middle East and Africa regions have the least occurrence of stomach cancer. However, the prevalence is relatively high in Oman and the UAE.
Some of the key players in the global stomach cancer market are Novartis International AG, Eli Lilly, F. Hoffmann-La Roche Ltd., GlaxoSmithKline plc, Merck KGaA, and Otsuka Holdings Co. Ltd.
Our Report Covers
Stomach Cancer Market Segmentation
By End User
o North America
o South America
o Western Europe
Rest of Western Europe
o Eastern Europe
o South Korea
o Rest of Asia Pacific
The Middle East & Africa
o The Middle East
Rest of the Middle East