Global Gastrointestinal Stromal Tumor Market – Industry Trends and Forecast to 2029

Global Gastrointestinal Stromal Tumor Market, By Treatment Type (Chemotherapy, Targeted Therapy, Others), Route of Administration (Oral, Parenteral, Others), End-Users (Hospitals, Homecare, Speciality Centres, Others), Distribution Channel (Hospital Pharmacy, Online Pharmacy, Retail Pharmacy) – Industry Trends and Forecast to 2029.

Gastrointestinal Stromal Tumor Market Analysis and Size

The global gastric cancer market is expected to witness significant growth during the forecast period. Gastrointestinal stromal tumors (GISTs) are one of the world's most common mesenchymal tumors. As per the World Health Organization records, the projected occurrence rate of gastrointestinal stromal tumors is 14.5 per million, and is widespread in 129 people from a sample of a million, in the United States. Over the past few decades, the understanding, awareness and treatment of GISTs has observed tremendous progress. COVID-19 also had a major impact on the market growth.

Data Bridge Market Research analyses a growth rate in the global gastrointestinal stromal tumor market in the forecast period 2022-2029. The expected CAGR of global gastrointestinal stromal tumor market is around 6.60% in the mentioned forecast period. The market was valued at USD 1.07 billion in 2021, and it would grow upto USD 1.78 billion by 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Gastrointestinal Stromal Tumor Market Scope and Segmentation

Market Definition

Gastrointestinal stromal tumors are mesenchymal tumors in which cancerous cells rise from the tissues of the gastrointestinal tract that can be found on stomach and small intestine. The typical signs and symptoms of the tumor involves blood in the stool or vomit. It is of great importance to the healthcare sector and thus is expected to rise high in the forecast period

Global Gastrointestinal Stromal Tumor Market Dynamics

Drivers

• Growing Stomach Indications

Gastrointestinal stromal tumors may occur in all parts of the gastrointestinal tract. But still, the stomach is the most common localization for occurrence of gastrointestinal stromal tumors. Most treatment and diagnosis for gastrointestinal stromal tumor will be focused on removing the tumor from the stomach. In 2017, approximately 60% of revenues obtained in the global gastrointestinal stromal tumor market will be accounted by stomach indication. This boost the market growth.

• Higher Demand for Oral Drugs

Oral drugs is estimated to boost the market growth. The segment is anticipated to enhance the global market as most products are available in capsule and tablet form and it is a very convenient route of administration.

Opportunities

• Increase in Hospital Demand

The treatment of gastrointestinal stromal tumor is primarily performed in hospitals due to the strict guidelines. Prolonged post-treatment hospitalization period and increased morbidity of gastrointestinal stromal tumor continue to boost the presence of hospitals. By the end of 2026, more than US$ 480 Mn worth of revenues will be produced from treating GISTs in hospitals worldwide. During the forecast period, specialized cancer treatment centers will also emerge as a main end-user in the global gastrointestinal stromal tumor market.

• Rising Healthcare Awareness

Health awareness amongst the population are rising which results in the prediction of drugs boost the market growth. The innovative launches in medications for treating gastric cancer are expected to prompt the market simultaneously. Different researchers are investing in launching the drugs that benefit the market. This creates more opportunity in the market.

• Increasing Demand for Chemotherapy

Treatment of gastrointestinal stromal tumor is a multidisciplinary approach, involving the contribution of medical oncologists, surgeons, radiologist, as well as pathologists. So far, radiotherapy's role in treating gastrointestinal stromal tumor remains determinedly unestablished. Most patients suffering from this tumor choose symptomatic treatments such as conventional chemotherapy as surgery is not possible in most cases. Thus, this factor create much opportunity for the market growth.

Restraints/Challenges

• Availability of Fake Drugs

The increasing availability of fake and misbranded drugs is considered to be a significant restraint. Consequently, it can create confusion and hamper the gastrointestinal stromal tumor market value.

• High Cost

The huge expenditure of the treatment methods hamper the market growth. The treatment procedures such as chemotherapy, radiation therapy, targeted therapy restrict the market growth.

This global gastrointestinal stromal tumor market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the global gastrointestinal stromal tumor market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Global Gastrointestinal Stromal Tumor Market Scope

The global gastrointestinal stromal tumor market is segmented on the basis of treatment type, route of administration, distribution channel and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Treatment Type

• Chemotherapy
• Targeted Therapy
•  Others

Route of Administration

• Oral
• Parenteral
• Others

End-Users

• Hospitals
• Homecare
• Speciality Centres
• Others

Distribution Channel

• Hospital Pharmacy
• Online Pharmacy
• Retail Pharmacy

Gastrointestinal Stromal Tumor Market Regional Analysis/Insights

The global gastrointestinal stromal tumor market is analysed and market size insights and trends are provided by treatment type, route of administration, distribution channel and end-user as referenced above.

The major countries covered in the global gastrointestinal stromal tumor market report are the 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.

Asia-Pacific is expected to have the highest market growth due to the increase awareness about the diseases and rapidly disposable income.

North America dominates the market due to the increase prevalence of gastrointestinal stromal tumor, high demand of targeted therapies and advanced healthcare facilities.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Global Gastrointestinal Stromal Tumor Market Share Analysis

The global gastrointestinal stromal tumor market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to global gastrointestinal stromal tumor market.

Key players operating in the global gastrointestinal stromal tumor market include:

• Mylan N.V. (U.S.)
• Teva Pharmaceutical Industries Ltd.(Israel)
• Sanofi (France)
• Pfizer Inc. (U.S.)
• GSK plc (U.K.)
• Novartis AG (Switzerland)
• Bayer AG (Germany)
• Eli Lilly and Company (U.S.)
• Merck & Co., Inc. (U.S.)
• Johnson & Johnson Private Limited (U.S.)
• Cipla Inc. (U.S.)
• Abbott (U.S.)
• AbbVie Inc. (U.S.)
• Sun Pharmaceutical Industries Ltd. (India)
• Aurobindo Pharma (India)
• Lupin (India)
• Hikma Pharmaceuticals PLC (U.K.)
• Blueprint Medicines Corporation (U.S.)
• NATCO Pharma Limited (India)