Growing Pervasiveness of Gastric Cancer among Individuals Globally to Fortify the Growth of the Gastric Cancer Market by 2031

Gastric cancer is a formidable health challenge affecting individuals worldwide. The exact cause of gastric cancer is still unknown. However, several risk factors have been identified including helicobacter pylori infection, use of tobacco and alcohol use, unhealthy diet, and genetic predisposition. Helicobacter pylori is a spiral bacterium that is a major risk factor for developing gastric cancer. It can cause chronic inflammation of the stomach lining, leading to the formation of cancerous cells. In addition, a diet rich in smoked, salted, or pickled foods, as well as a low intake of fruits and vegetables, has been associated with an increased risk of gastric cancer. Moreover, heavy tobacco and alcohol consumption has been linked to an elevated risk of developing gastric cancer. Furthermore, certain inherited genetic mutations, such as mutations in the CDH1 gene, can increase the likelihood of developing gastric cancer. The treatment of gastric cancer depends on several factors, including the stage of the cancer, the patient’s overall health, and individual preferences. Surgery, chemotherapy, radiation therapy, and targeted therapy are some of the common treatment options for gastric cancer.

Forecast Analysis of the Global Gastric Cancer Market

According to the report published by Research Dive, the global gastric cancer market is anticipated to garner a revenue of $10,737.00 million and rise at a striking CAGR of 17.9% over the analysis timeframe from 2022 to 2031.

The increasing prevalence of gastric cancer among individuals across the globe owing to the growing aged population, infections with Helicobacter pylori, and unhealthy lifestyle habits is predicted to fortify the growth of the gastric cancer market over the analysis timeframe. Besides, the increasing demand for effective treatments such as targeted therapies and immunotherapies is predicted to augment the growth of the market during the forecast period. Moreover, the increasing investment in R&D activities for gastric cancer treatments and the growing healthcare expenditure for the development of advanced diagnostic tools and screening techniques are expected to create huge growth opportunities for the gastric cancer market over the estimated period. However, the high cost of treating gastric cancer may hinder the growth of the market throughout the analysis period.

The major players of the gastric cancer market include Merck & Co., Inc., Eli Lilly and Company, Teva Pharmaceutical Industries Ltd., F. Hoffmann La Roche Ltd., Celltrion Healthcare Co., Ltd., Mylan N.V., Samsung Bioepis, Pfizer, Inc., Bristol Myers Squibb Company, Novartis AG, and many more.

Key Developments of the Gastric Cancer Market

The key companies operating in the industry are adopting various growth strategies & business tactics such as partnerships, collaborations, mergers & acquisitions, and launches to maintain a robust position in the overall market, which is subsequently helping the global gastric cancer market to grow exponentially. For instance:

• In September 2022, Pfizer Inc., a leading American multinational pharmaceutical and biotechnology corporation announced its partnership with Strata, a global leader in geotechnical engineering solutions. With this partnership, the enterprises aimed to promote several pan-tumor therapeutic trials to access the safety and efficacy of various cancer therapies.
   
• In March 2023, Pfizer Inc., a renowned American multinational pharmaceutical and biotechnology company announced its acquisition of Seagen Inc., an American biotechnology company. With this acquisition, the companies together aimed to bring new solutions to patients suffering from various types of cancers by combining the power of Seagen’s antibody-drug conjugate (ADC) technology.
   
• In April 2023, BeiGene Ltd., a global biotechnology company, developed a new drug with Novartis AG, a global healthcare company based in Switzerland. This drug is expected to become the first line of therapy for patients recognized with advanced forms of gastric cancer or for a unique type of cancer that begins in the food pipe or stomach join.

Most Profitable Region

The Asia-Pacific region of the gastric cancer market held the highest market share in 2021. This is mainly due to the increasing prevalence of gastric cancer among people and the growing awareness and diagnosis of this disease in the region. Moreover, the increasing healthcare expenditure across the region, especially in developing countries, is expected to drive the regional growth of the market throughout the estimated period.  

Covid-19 Impact on the Gastric Cancer Market

The rise of the Covid-19 pandemic has badly affected the growth of the gastric cancer market, likewise, various other industries. This is mainly due to the delay in the delivery of finished products during the pandemic owing to the shortage of raw materials owing to disruption in the supply chains. Moreover, the reduced healthcare spending in many countries as most resources had been redirected to pandemic-related measures, has declined the growth of the market throughout the crisis. However, the increasing incidences of gastric cancer and the development of new therapies and treatments are expected to bring wide growth opportunities for the gastric cancer market post-pandemic period.