The global gastrointestinal cancer drugs market size was significantly robust in 2020 and is expected to register a steady revenue CAGR over the forecast period.
The global gastrointestinal cancer drugs market size was significantly robust in 2020 and is expected to register a steady revenue CAGR over the forecast period. Key factors driving market revenue growth are changing lifestyle people, increasing consumption of junk food, improper sleep schedules as well as rising stress level among millennials, and development of advanced targeted cancer drugs.
Increasing prevalence of disease has led to rising demand for treatment procedures. Unhealthy eating habits, widespread obesity among young and old population, and increasing consumption of alcohol as well as smoking are factors expected to led to rising cases of gastrointestinal cancer drugs on the worldwide platform.
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Growth of cancer within the abdomen can be attributed to uncontrolled development of malignant cells residing in stomach tissue, leading to formation of a tumor. According to research, there might be five sorts of gastric cancer such as epithelial cell cancer, gastrointestinal stromal tumors, adenocarcinoma, lymphoma, and neuroendocrine tumors. Among the five, adenocarcinoma type originates from innermost lining of the stomach and is liable for 90% of all gastric tumors.
Market Overview:
The global Gastrointestinal Cancer Drugs market has significantly grown over the recent past and is expected to register rapid growth over the forecast period of 2021 to 2028. The pharma and healthcare sector is rapidly evolving with innovations in technology, increasing healthcare spending, and improving healthcare facilities and systems. Many hospitals, ambulatory surgical care centers, and clinics across the globe are adopting advanced devices and equipment. Revenue growth of the global Gastrointestinal Cancer Drugs market is significantly driven by factors such as the increasing prevalence of chronic diseases, rapid advancements in the healthcare and medical sector, high adoption of the latest tools and techniques, and growing funds by several public and private sectors. In addition, the rising focus on drug development, increasing demand for precision medicine, high adoption of home care settings and point-of-care diagnostics, and increasing investments in research and development activities are expected to drive global market revenue growth during the forecast period.
The ongoing pandemic is significantly changing the dynamics of the pharma and healthcare sector. Various countries are facing challenges such as a shortage of medicines, vaccines, and healthcare devices in hospitals. This is expected to open lucrative growth opportunities for market players in the coming years.
Competitive Landscape:
The global market comprises various market players operating at regional and global levels. These key players are adopting various strategies such as R&D investments, license agreements, partnerships, mergers and acquisitions, collaborations, and joint ventures to gain a robust footing in the market.
Top Companies Profiled in the Report:
- Array BioPharma
- Arog Pharmaceuticals, Inc.
- ASLAN Pharmaceuticals
- Galena Biopharma
- Ipsen Biopharmaceuticals, Inc.
- Taiho Oncology
- AstraZeneca PLC
- Merck & Co. Inc.
- Amgen Limited
- Bristol-Myers Squibb
- Hoffmann-La Roche & Co.
- Eli Lilly and Company
- GlaxoSmithKline Plc.
- Pfizer Inc.
- Sanofi S.A
- Novartis AG
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Gastrointestinal Cancer Drugs Market Segmentation:
By Treatment Type Outlook (Revenue, USD Billion; 2018-2028)
- Immunotherapy
- Chemotherapy
- Targeted Therapy
- Hormone Therapy
- Adjuvant Chemotherapy
- Radiation Therapy
By End-Use Outlook (Revenue, USD Billion; 2018-2028)
- Hospitals
- Specialized Cancer Treatment Centers
- Clinics
- Ambulatory Surgical Centers
Regional Outlook:
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
- Latin America (Brazil, Rest of LATAM)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of the Middle East & Africa)
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This study aims to define market sizes and forecast the values for different segments and countries in the coming eight years. The study aims to include qualitative and quantitative perspectives about the industry within the regions and countries covered in the report. The report also outlines the significant factors, such as driving factors and challenges, that will determine the market’s future growth.
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