Rising Incidences of Gastrointestinal Tumors, Lymphoma and Adenocarcinoma is projected to drive the Demand for Gastric Cancer Diagnostics Market

Gastric cancer is the third greatest cause of cancer deaths globally, after only lung and colorectal cancer in overall mortality, according to GLOBOCAN 2018 data. Gastric cancer is responsible for about 1 in every 12 oncological fatalities. Gastric cancer is the sixth highest incidence rate, accounting for 5.7 percent of all new cases. Every year, about a million new instances of stomach cancer are diagnosed worldwide. Thus, the rising incidence of cancers across the globe is expected to accelerate the demand for gastric cancer diagnostics, thus, the increased incidence rates of gastrointestinal tumors, lymphoma, and adenocarcinoma is boosting the growth of the market.

Data Bridge Market Research analyses that the gastric cancer diagnostics market is expected to grow at a CAGR of 6.8% in the forecast period of 2022 to 2029 and is expected to reach USD 1,597.69 million by 2029. Also, with this increasing age and rising prevalence of chronic diseases, the demand for early diagnosis of the diseases is also increasing. Also, the pressure on the healthcare system is increasing with the growing population. The demand for care, services, and technologies is rising to prevent and treat chronic diseases at old age. Therefore, the demand for advanced medical devices for the diagnosis of cancer is rising in the healthcare system worldwide.

Surge in Alcohol Consumption and Smoking is expected to drive the market's growth rate

The epidemiological, clinical, and laboratory evidence point to a behavioral relationship between cigarette smoking and alcohol consumption. The combined use of cigarettes and alcohol poses health concerns in addition to those posed by smoking alone, and so represents a severe public health issue that warrants further investigation. For instance, In June 2018, according to the Cancer Treatment Centers of America, 20% of American adults, nearly 38 million people, are smokers. Also, in 2010, according to the study on “Alcohol and tobacco use about gastric cancer: a prospective study of men in Shanghai, China” it was found that after accounting for alcohol consumption and other variables, every smoker had a statistically significant higher incidence of stomach cancer than non-smokers. The above instances show the relation between smoking and alcohol consumption as a risk factor for gastric cancer. Thus, the rise in alcohol consumption and surge in smoking is propelling the market growth.

Report Scope and Market Segmentation

Segment Analysis:

Global gastric cancer diagnostics market is categorized into nine notable segments which are based on the product type, diagnostics type, age group, type, stage, gender, sample type, end users and distribution channel.

• On the basis of product type, global gastric cancer diagnostics market is segmented into instruments, reagents and consumables, and service. Reagents and consumables segment is sub-segmented into kits and reagents. In 2021, the reagents and consumables segment is expected to dominate the gastric cancer diagnostics market growing with the highest CAGR of 8.0%

The reagents and consumables segment is expected to dominate the gastric cancer diagnostics market growing with the highest CAGR of 8.0%

In 2021, the reagents and consumables segment is expected to dominate the gastric cancer diagnostics market growing with the highest CAGR of 8.0% in the forecast period of 2021 to 2028 because number of top players developing kits for gastric cancer, and wider range of kits products available in the market. Moreover, IVD players are also focusing on the development of more advanced kits.

• On the basis of diagnostics type, global gastric cancer diagnostics market is segmented into gastric (pre) cancer screening tests/physical exam and confirmatory tests. In 2021, the confirmatory tests segment is expected to dominate the gastric cancer diagnostics market growing with the highest CAGR of 7.4% in the forecast period of 2021 to 2028 because most of the diagnostics have been done with imaging techniques such as endoscopic Ultrasonography, PET-CT scan and CT scan.
• On the basis of age group, global gastric cancer diagnostics market is segmented into adult, pediatric and geriatrics. In 2021, the geriatric segment is expected to dominate the gastric cancer diagnostics market growing with the highest CAGR of 8.2% in the forecast period of 2021 to 2028 because geriatric population is vulnerable to stomach cancer more often.
• On the basis of type, global gastric cancer diagnostics market is segmented into intestinal or diffuse adenocarcinoma, carcinoid tumor, gastrointestinal stromal tumor [GIST], gastric lymphoma and others. In 2021, the intestinal or diffuse adenocarcinoma segment is expected to dominate the gastric cancer diagnostics market growing with the highest CAGR of 8.3% in the forecast period of 2021 to 2028 because of increase in prevalence of intestinal or diffuse adenocarcinoma type of stomach cancer.
• On the basis of stage, global gastric cancer diagnostics market is segmented into Stage 0, Stage I, Stage II, Stage III and Stage IV. Stage I segment is sub-segmented into stage IA and stage IB. In 2021, the stage I segment is expected to dominate the gastric cancer diagnostics market growing with the highest CAGR of 8.3% in the forecast period of 2021 to 2028 because number of the confirmatory tests performed for stage I only to diagnose stomach cancer.
• On the basis of gender, global gastric cancer diagnostics market is segmented into male and female. In 2021, the male segment is expected to dominate the gastric cancer diagnostics market growing with the highest CAGR of 7.4% in the forecast period of 2021 to 2028 because men are more likely to develop stomach cancer.
• On the basis of sample type, global gastric cancer diagnostics market is segmented into blood, tissue, urine, and stool. In 2021, the stool segment is expected to dominate the gastric cancer diagnostics market growing with the highest CAGR of 8.6%

The stool segment is expected to dominate the gastric cancer diagnostics market growing with the highest CAGR of 8.6%

In 2021, the stool segment is expected to dominate the gastric cancer diagnostics market growing with the highest CAGR of 8.6%  in the forecast period of 2021 to 2028 because most of the diagnostics performed from stool sample as well as availability of stool diagnostic products with companies.

• On the basis of end users, global gastric cancer diagnostics market is segmented into diagnostic laboratories, hospitals, cancer research institutes, oncology specialty clinics and others. In 2021, the hospitals segment is expected to dominate the gastric cancer diagnostics market growing with the highest CAGR of 8.6% in the forecast period of 2021 to 2028 due to large number of diagnostics for stomach cancer have been performed in the hospitals.
• On the basis of distribution channel, global gastric cancer diagnostics market is segmented into direct tender and retail sales. In 2021, the direct tenders segment is expected to dominate the gastric cancer diagnostics market growing with the highest CAGR of 7.4% in the forecast period of 2021 to 2028 due to high cost of instruments hospitals prefer purchasing products in bulk quantity.

Major Players

Data Bridge Market Research recognizes the following companies as the major gastric cancer diagnostics market players in gastric cancer diagnostics market are General Electric (U.S.), Abbott (U.S.), Hologic Inc. (U.S.), Agilent Technologies Inc.(U.S.),  F. Hoffmann-La Roche Ltd  (Switzerland), FUJIFILM Corporation (Japan), Danaher (U.S.), DiaSorin S.P.A. (Italy), Myriad Genetics Inc. (U.S.), Siemens Healthcare GmbH (Germany), BD (U.S.), bioMérieux (France), Bio-Rad Laboratories Inc. (U.S.), Cancer Diagnostics Inc. (U.S.), Vela Diagnostics (Singapore), AMOY Diagnostics CO. LTD. (China), Quidel Corporation (U.S.), Bio SB (U.S.), Biocartis (Belgium), Exact Science (U.S.)

Market Development

• In July 2021, QIAGEN announced that it has undergone a strategic alliance with Sysmex Corporation to develop and commercialize global cancer companion diagnostics. This initiative taken by the company has strengthened its position in the cancer diagnostics market.
• In July 2021, DiaSorin S.p.A. announced that it has acquired the Luminex Corporation in the U.S., strengthening its product portfolio and its presence in the region. This strategic initiative taken by the company has increased its demand and sales in the market.
• In June 2020, FOUNDATION MEDICINE, INC. announced that it had acquired Lexent Bio, Inc. to accelerate its R&D and advanced cancer care development. This strategic initiative taken by the company has increased its credibility in the market.
• In September 2019, Paragon Genomics, Inc. announced that it is establishing a subsidiary in China to market its CleanPlex products in China. This strategic initiative taken by the company has increased its demand in the Chinese market leading to increased sales and revenue in future
• In August 2020, Vela Diagnostics announced that it has launched its new OncoKey SL 60 Plus Assay, which is NGS based pan-cancer test. This new product launched by the company has increased its credibility in the market leading to increased revenue in future
• In September 2019, Paragon Genomics, Inc. announced its launch of its new product, CleanPlex Hereditary Cancer Panel V2, at the 2019 Annual Meeting of the American Society of Human Genetics (ASHG). This new product launched by the company has increased its demand and sales in the market leading to increased revenue in future

Regional Analysis

Geographically, the countries covered in the gastric cancer diagnostics market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

As per Data Bridge Market Research analysis:

North America is the dominant region in gastric cancer diagnostics market during the forecast period

North America dominated the gastric cancer diagnostics market owing to the increasing number of geriatric population and the development of advanced technology. North America will continue to dominate the gastric cancer diagnostics market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period.

Asia-Pacific is estimated to be the fastest-growing region in gastric cancer diagnostics market

Asia-Pacific is expected to grow during the forecast period due to the increasing research and development for the gastric cancer diagnostics in this region. In addition, the growing presence of major market players are expected to propel the market's growth rate in this region.

COVID-19 Impact Analysis

The outbreak of COVID-19 pandemic, led to significant negative effects on healthcare sector. The gastric cancer diagnostics market was largely impacted due to severe government regulations, statewide lockdowns, increased infection rates, decreased patient visits to hospitals and clinics, and a shortage of medical professionals and healthcare workers.

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