Gastric Cancer Therapeutics Market to Witness Huge Growth in Coming Years with Profiling Leading Companies like Pfizer, Eli Lilly, GlaxoSmithKline plc
High prevalence of gastric cancer is expected to propel growth of the gastric cancer therapeutics market. For instance, according to The American Cancer Society, the U.S. is estimated to record about 26,560 cases of stomach cancer and about 11,180 people will die from this type of cancer in 2021. Moreover, R&D in oral chemotherapy for the treatment of gastric cancer is also expected to aid in growth of the market. For instance, in January 2021, Ascelia Pharma AB announced the clinical development plan for Oncoral, with which the company has the opportunity to develop a novel oral chemotherapy for the treatment of gastric cancer.
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Risk factors for gastric cancer may include smoking and a diet of highly processed or salty foods. Thus, high number of smokers is expected to offer lucrative growth opportunities for players in the gastric cancer therapeutics market. For instance, according to the World Health Organization’s, May 2020 Update, tobacco leads to over 8 million deaths each year worldwide and over 7 million of those deaths are the result of direct tobacco use while around 1.2 million are the result of non-smokers being exposed to second-hand smoke.
Major players operating in the gastric cancer therapeutics market include, Pfizer, Inc., Eli Lilly and Company, GlaxoSmithKline plc, Kuhnil Pharmaceutical/Daiichi Sankyo, BMS, AstraZeneca, Otsuka Holdings Co. Ltd., Ascelia Pharma AB, Sanofi, F. Hoffmann-La Roche Ltd., Ono Pharmaceutical, Bristol-Myers Squibb, Jiangsu HengRui Medicine, Gilead Bioscience, Celgene/Taiho, and Boston Biomedical.
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Major players operating in the gastric cancer therapeutics market are focused on approval and launch of new products to expand their product portfolio. For instance, in October 2020, AstraZeneca and Daiichi Sankyo Company, Limited’s Enhertu (trastuzumab deruxtecan) received acceptance for its supplemental Biologics License Application and was granted Priority Review in the U.S for the treatment of patients with HER2-positive metastatic gastric or gastroesophageal junction adenocarcinoma.
Major players operating in the gastric cancer therapeutics market are also focused on adopting collaboration and partnership strategies to enhance their market share. For instance, in October 2020, Basilea Pharmaceutica Ltd. entered into a clinical trial collaboration and supply agreement with Eli Lilly and Company for the use of the anti-VEGFR2 antibody ramucirumab 1 in the ongoing multi-cohort phase 1/2 study FIDES-03 with the FGFR inhibitor derazantinib in advanced gastric cancer patients with FGFR genetic aberrations.
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