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Gastric and Esophageal Cancer Drugs Market- Drivers, Trends And Growth
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Gastric and esophageal cancers are characterized by growth of malignant (cancerous) cells, forming a tumor, within the lining of stomach and esophagus. Smoking, excessive alcohol consumption, and Barrett’s esophagus can causes gastric and esophageal cancers. Symptoms of gastric and esophageal cancers include difficulty in swallowing (dysphagia), weight loss, chest pain, indigestion or heartburn, coughing or hoarseness, pain behind the breastbone. Early stage of gastric and esophageal cancer does not show any of this signs and symptoms.
Increasing number of cancer drugs in pipeline studies and rising involvement of key players for development of cancer treatment are expected to propel gastric and esophageal cancer drugs market growth. For instance, in April 2016, Centre Hospitalier Universitaire de Besancon, initiated Phase 1 and Phase 2 clinical trial for Carboplatin to determine the maximum tolerated dose (MTD) and recommended doses for phase II (RP2D) by considering the treatment scheme of Dutch study for chemotherapy and radiotherapy. The study is conducted in elderly patients with esophagus cancer. Carboplatin is an anticancer chemotherapy drug from alkylating agent category. The study is estimated to complete by April 2024.
Moreover, in February 2017, Henan Cancer Hospital in collaboration with Jiangsu HengRui Medicine Co., Ltd., initiated Phase 2 exploratory clinical trial to evaluate the efficacy of Apatinib, treatment for advanced esophagus cancer. Apatinib is a tyrosine kinase inhibitor that selectively inhibits the vascular endothelial growth factor receptor-2(VEGFR2).
However, high cost of therapy for the treatment of gastric and esophageal cancers is expected to restraint the market growth. For instance, as per the report published in Healthday, in 2013, cancer patients paid US$ 207,000 a year for the treatment and medications while in 1995 the cost was US$ 54,100 a year.
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Gastric and Esophageal Cancer Drugs Market- Regional Analysis
On the basis of region, the global gastric and esophageal cancer drugs market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa.
Geographically, North America is expected to be the leading region in the gastric and esophageal cancer drugs market during the forecast period, owing to high prevalence of esophageal cancer in this region. For instance, the American Cancer Society’s estimated that about 17,650 new esophageal cancer cases in the U.S. will be diagnosed (13,750 in men and 3,900 in women) by 2019. Moreover, mergers and acquisitions activities by key players in this region are expected to propel the market growth during the forecast period. For instance, in December 2018, GlaxoSmithKline plc announced the acquisition of TESARO Inc, an oncology focused company based in Massachusetts, U.S. This acquisition is expected to strengthen GSK’s pharmaceutical business by accelerating GSK’s pipeline and commercial capability in oncology.
Key players in Europe are focused on various business strategies such as acquisitions and mergers, which in turn boosts growth of the market. For instance, in September 2018, Boehringer Ingelheim acquired all shares of ViraTherapeutics, an Austria-based biopharmaceutical company, specializing in the development of oncolytic viral therapies. The total transaction value for this acquisition was US$ 240.52 million. This acquisition strengthened Boehringer Ingelheim’s commitment to research and development for viral-based immuno-oncology treatment.
Key players for gastric and esophageal cancer drugs market includes Amgen, Eli Lilly and Company, F. Hoffmann-La Roche, Bristol-Myers Squibb Company, Boehringer Ingelheim GmbH, Bristol-Myers Squibb, GlaxoSmithKline Plc., Novartis AG, Johnson & Johnson, Gilead Sciences, Merck & Co. and others.
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About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.
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