Esophageal Cancer Drugs Market to Surpass US$ 1,547.8 Million by 2027, Owing to Increasing R&D in Esophageal Cancer Drugs
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According to Global Esophageal Cancer Drugs Market, by Therapy Type (Chemotherapy (Docetaxel, Irinotecan, Trifluridine and Tipiracil, Carboplatin and Paclitaxel, Cisplatin and 5-fluorouracil, and Cisplatin with Capecitabine), Targeted Drug Therapy (Trastuzumab and Ramucirumab), and Immunotherapy (Pembrolizumab)), by Disease Indication (Adenocarcinomas, Gastrointestinal Stromal Tumors, Carcinoid Tumors, Squamous Cell Carcinoma, and Others), by Distribution Channel (Hospital Pharmacy, Retail Pharmacy, and Online Pharmacy), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), published by Coherent Market Insights, the global esophageal cancer drugs market was valued at US$ 765.2 million in 2018 and is projected to exhibit a CAGR of 8.2% over the forecast period (2019 – 2027).
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Increasing R&D in esophageal cancer drugs is expected to propel growth of the global esophageal cancer drugs market over the forecast period. For instance, in November 2018, Merck & Co., Inc. revealed the results of phase 3 clinical trial of Keytruda (pembrolizumab), which indicates Keytruda reduced the risk of death compared to chemotherapy in patients with squamous cell carcinoma or adenocarcinoma. Similarly, in 2018, Bristol-Meyer Squibb’s Opdivo (Nivolumab) intravenous infusion injection and Yervoy Injection is in the phase III clinical trial for the treatment of stomach cancer.
Moreover, approval and launch of new drugs is also expected to aid in growth of the market. For instance, in April 2014, the U.S. FDA approved Cyramza (ramucirumab) for use in combination with paclitaxel for the treatment of patients with advanced gastric or gastro-esophageal junction adenocarcinoma.
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The global esophageal cancer drugs market is expected to witness a CAGR of 8.2% during the forecast period (2019–2027)
Among therapy type, the immunotherapy segment is expected to account for maximum share over the forecast period, owing to approval and launch of novel immunotherapies. For instance, in 2017, the U.S. Food and Drug Administration (FDA) approved pembrolizumab (Keytruda) for the treatment of gastroesophageal cancer in patients whose previous treatment did not work or stopped working.
Increasing R&D in esophageal cancer drugs is expected to propel growth of the global esophageal cancer drugs market over the forecast period.
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Major players operating in the global esophageal cancer drugs market include Amgen Inc., 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, Genentech, Inc., Sanofi-Aventis, and Merck & Co.
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