ID: MRFR/Pharma/1054-HCR | 80 Pages | Published By Rahul Gotadki on March 2023
The Gastrointestinal Stromal Tumors Market is evaluated to grow at a CAGR of 7%. In the upcoming years, of the forecast period of 2021-2028, the market value will further increase up to USD 1.7 Billion. The gastrointestinal stromal tumor is a tumor that appears in the gastrointestinal tract. These tumors originate from the specialized cells called Interstitial Cells of Cajal (ICC).
Thus, Gastrointestinal Stromal Tumors are a form of cancer known as soft tissue sarcoma. The tissue sarcoma further develops in the connective and supportive tissues. With significant technological advancements, the Gastrointestinal Stromal Tumors Global Market is projected to have substantial growth in the future.
The COVID-19 disease led to a massive economic disruption across the world. The healthcare system was highly affected due to the spread. The treatment of other diseases was halted for a significant period. Along with that, the lockdown heavily impacted the supply chain of the Gastrointestinal Stromal Tumors Market. However, it is anticipated that with the lessening spread of coronavirus disease, the market will regain its growth in the future.
The rising cases of gastrointestinal diseases and other cancerous diseases are the crucial drivers of the Gastrointestinal Stromal Tumors Market. Also, the increasing funds for development and research in life sciences will further enhance the market growth.
The availability of fake and misbranded drugs is considered a significant restraint. As a result, it can create confusion and hinder the Gastrointestinal Stromal Tumors Market Value.
The increasing population of the older generation and rapid technological advancements is evaluated to provide various opportunities for market growth.
The low awareness for the treatment of chronic diseases and the low availability of skilled medical experts in various low and middle-income countries is a major challenge. Also, the demand for the non-invasive procedure is a significant challenge for the Gastrointestinal Stromal Tumors Market Growth.
The Compound Annual Growth Rate (CAGR) of the Gastrointestinal Stromal Tumors Market is estimated to reach up to 7%. According to the Gastrointestinal Stromal Tumors Market Analysis by MRFR, the value is projected to reach up to USD 1.7 Billion by the studied forecast period of 2021-2028.
Value Chain Analysis
The rising demands and technological development will lead to raising the Gastrointestinal Stromal Tumors Market Trends. Also, investments for development and research by key players and initiatives by governments will simultaneously improve the value chain of the market.
The Gastrointestinal Stromal Tumors Market Size is divided into treatment, indication, end-user, and diagnosis. Based upon treatment, the market is divided into Radiation Therapy, Embolization, Surgery, Targeted Therapy, Ablation, Chemotherapy, and Others. Further, the targeted therapy is segmented into Regorafenic, Imatinib, Sunitinib, Tyrosine Kinase Inhibitors, and Others. Along with that, ablation is divided into Microwave Thermotherapy, Ethanol, Radiofrequency Ablation, Cryosurgery, and Others.
Based upon indication, the Gastrointestinal Stromal Tumors Market is divided into Large Intestine, Small Intestine, Stomach, and Others.
The end-user segment of the Gastrointestinal Stromal Tumors Market is divided into Ambulatory Surgical Centres, Clinics and Hospitals, and Others.
Lastly, the diagnosis segment is divided into Endoscopy, Tomography Scans of Pelvis and Abdomen, Plain Abdominal Radiography, Imaging Studies, Endoscopic Ultrasonography, Air and Barium (Double Contrast), series, Magnetic Resonance Imaging, and Others.
Geographically, the Gastrointestinal Stromal Tumors industry is divided into Asia-pacific, Europe, Africa, and the Middle East, and the Americas. Gastrointestinal Stromal Tumors Global Market Analysis suggests that Americas will hold the largest share in the studied forecast period. The Americas region is divided into Latin and North America. The increasing cases of genetic disorders in countries such as Canada and the USA are vital reasons for growth. Also, the easy availability of advanced healthcare facilities for patients is propelling the market growth.
Secondly, Europe will hold the second-largest Gastrointestinal Stromal Tumors Market Share. This region consists of countries such as Italy, France, Germany, the UK, Spain, and others. The rising cases f stromal tumors in these counties are majorly driving the market.
Thirdly, Asia-Pacific is evaluated to observe the fastest CAGR during the studied forecast period. Rapid development in healthcare facilities and rising awareness for the treatment of chronic diseases are boosting the market growth. Also, rising development and research in major countries such as China, India, and Japan are crucial for the significant Gastrointestinal Stromal Tumors Market Growth.
Africa and the Middle East are evaluated to observe the steady growth. Due to the limited availability of resources and healthcare facilities and low awareness for chronic diseases the region is evaluated to have the least share.
The Gastrointestinal Stromal Tumors Market is fragmented with the presence of several key players. These key players play a crucial role in enhancing market growth. They take important strategic steps such as mergers, partnerships, collaborations, etc. Some of the key players of the market are as follows.
No Recent Developments Were Found.
The overview of the Gastrointestinal Stromal Tumors Market Outlook is listed below.
Report Score and Segmentation
The report score gives valuable insight into the Gastrointestinal Stromal Tumors Market Analysis. It highlights information about the market dynamics such as challenges, opportunities, key players and their strategies, etc. The information provided in this report is collected from primary and secondary sources.
The outlook of the global gastrointestinal stromal tumors market looks very promising.
global gastrointestinal stromal tumors market is projected to grow at approximately 7% CAGR during the assessment period (2018-2023).
Investments and funding in the field of life science research and favorable reimbursements policies and health insurance are the major tailwinds pushing the growth of the global gastrointestinal stromal tumors market.
North America holds the largest share in the global gastrointestinal stromal tumors market, followed by Europe and the Asia Pacific, respectively.
Novartis AG (Switzerland), Bayer AG (Germany), Immunicum AB (Sweden), AB SCIENCES (FRANCE), F. Hoffmann-La Roche Ltd.(Switzerland), Arog Pharmaceuticals, Inc. (US), Sun Pharmaceutical Industries Limited (India), Boston Biomedical, Inc. (US), Pfizer Inc. (US), and NATCO Pharma Limited (US), are some of the major players operating in the gastrointestinal stromal tumors market.