According to the World Health Organization, globally about 800,000 gastric cancer related deaths are recorded each year. In order to tackle the soaring incidence of gastric cancer, governments and research organizations are focusing on various new therapies. While the novel therapeutics and therapies hold promise of better health and enhanced longevity for cancer patients, they also bolster opportunities for the global gastric cancer drugs market.
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In a report, titled “Gastric Cancer Drugs Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 – 2019” Transparency Market Research shares and evaluated the various factors linked to the expansion of the market. Besides studying the impact of the various socio-economic factors, the report also gauges the strengths and weaknesses of the leading players operating in the market using industry-leading analytical tools.
The incidence of five types of gastric cancer is currently noted worldwide. These include squamous cell cancer, neuroendocrine tumors, lymphoma, adenocarcinoma, and gastrointestinal stromal tumors. Among these adenocarcinoma, which originates from the innermost lining of stomach, accounts for over 90% of all gastric tumors. According to the American Cancer Society approximately 21,600 cases of cancer were diagnosed alone in the U.S. in 2013. While the high incidence of gastric cancer makes a key driver of the market, it is also expected to gain from the launch of therapies such as Herceptin, Xeloda, and Taxotere. On the flip side, not many gastric cancer therapies or drugs are commercially available for treatment, which could inhibit the market’s growth to an extent.
Based on drug class, the global gastric cancer drugs market can be segmented into Fluorouracil, Mitomycin C, Imatinib, Sunitinib, Doxorubicin Hydrochloride, Docetaxel, and Trastuzumab. Regionally, the global market can be classified into Asia Pacific, Europe, North America, and Rest of the World. Among these nations, Asia Pacific is exhibiting highly lucrative opportunities for the companies operating in the gastric cancer drugs market. Countries such as Japan and China currently holds dominance in the global market because they demonstrate a considerably large patient base and rising willingness among patients to spend on advanced therapies.
The number of geriatric population diagnosed with gastric cancer is also quite high across China and Japan, which makes these nations quite lucrative for the market. Besides the emerging nation, the market has been witnessing attractive opportunities in North America and Europe. However, because the total number of patients diagnosed with gastric cancer is five times higher in Japan and China than any of the Western countries, Asia Pacific has proven quite lucrative for drug developers.
Some of the leading companies who would gain from the aforementioned trends are Novartis AG, F Hoffmann-La Roche, Sanofi-Aventis, Genentech, Eli Lilly and Company, Otsuka Pharmaceutical and Merck KGaA.
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