Strong Demand for Innovative Therapeutics Driving Growth in Global Gastric Cancer Market, Reports BCC Research
(PRWEB) October 26, 2015 -- Wellesley, Mass., October 26, 2015 – Nearly 80 cancer immunotherapy products are currently in late-stage development for various cancer treatments. BCC Research reveals in its new report that demand for newer and innovative oncology drugs will continue to grow as healthcare systems worldwide emphasize cancer detection and treatment.
This report examines the current market status of emerging and established cancer biotherapeutics, their strengths and weaknesses, and surveys the research and development of cancer therapeutics currently in development and in clinical trials.
The global market for gastric cancer testing, treatment and prevention is anticipated to reach about $318 billion in 2020, reflecting a five-year (2015-2020) compound annual growth rate (CAGR) of 5.7%. The global gastric cancer drug therapy segment is expected to grow from $1.5 billion in 2014 to nearly $3.3 billion by 2020, reflecting a five-year CAGR of 14.7%.
Access and affordability of cancer treatment options in various countries is increasing, fostering market growth, along with better diagnostic approaches. Newer therapies will overtake conventional cancer therapies and propel sales of the global cancer therapies market to $111 billion by 2019. The U.S. National Institutes of Health (NIH) estimated the overall cost of cancer in the U.S. in 2006 was $206.3 billion, of which $78.2 billion was in direct medical costs. The World Health Organization (WHO) predicts that global cases of cancer will rise to 17 million new cases by 2020, an increase of 50% over 2005 rates.
Several novel next-generation HER2-targeting therapies are currently in clinical trials, including Roche/Genentech/Chugai’s T-DM1 and Roche/Genentech/Chugai’s Perjeta. Recently Eli Lilly’s ramucirumab was approved by the U.S. FDA. Cyramza, a targeted therapy, is the only FDA-approved second-line treatment for metastatic gastric cancer. These treatments will drive market growth over the forecast period.
“The overall survival of gastric cancer has gradually improved over the past few decades with advances in surgical techniques, the evolution of multimodality treatments and earlier detection of the disease. Still, outcome of advanced-stage disease remains poor with currently available treatments,” says BCC Research analyst Usha Nagavarapu. “There is no worldwide agreement on the standard management and has not been established. To improve prognosis and quality of life in gastric cancer patients, both standardization and individualization of managements are needed. Better diagnostic tests and surgical procedures need to be developed and standardized.”
Gastric Cancer Testing, Treatment and Prevention: Technologies and Global Markets (HLC174A) analyzes markets and competitive environments, key research and development issues, emerging therapeutics and compounds both in development and clinical trials. The report also identifies market dynamics, growth drivers, inhibitors, opportunities, and forecasts trends and revenue through 2020.
Editors and reporters who wish to speak with the analyst should contact Steven Cumming at [email protected].
About BCC Research
BCC Research publishes market research reports that make organizations worldwide more profitable with intelligence that drives smart business decisions. These reports cover today's major industrial and technology sectors, including emerging markets. For more than 40 years we've helped customers identify new market opportunities with accurate and reliable data and insight, including market sizing, forecasting, industry overviews, and identification of significant trends and key market participants. We partner with analysts who are experts in specific areas of industry and technology, providing unbiased measurements and assessments of global markets. Recently selected as the world’s greatest market research company, BCC Research is a unit of Eli Global, LLC. Visit our website at http://www.bccresearch.com. Contact us: (+1) 781-489-7301 (U.S. Eastern Time), or email [email protected].
Steven Cumming, BCC Research, http://www.bccresearch.com, +1 (781) 489-7301 Ext: 632, [email protected]
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