According to the research report published by the DataM Intelligence, the global Gastrointestinal Cancer Drugs Market size is projected to reach USD billion by the end of 2029, with growth at a CAGR of 6% during the forecast period 2022-2029.
Gastrointestinal cancer is a term that includes a group of cancers, an abnormal condition of the gastrointestinal tract and associated organs of the digestive system, which comprises the esophagus, stomach, pancreas, biliary system, small intestine, large intestine, rectum, and anus. The exact cause of many types of gastrointestinal cancer is unknown. Still, risk factors for gastrointestinal cancer include smoking, alcohol consumption, obesity, chronic pancreatitis
The global gastrointestinal cancer drugs market growth is driven by the growing prevalence of gastrointestinal cancer, rise in demand for targeted drug therapy, rise in public awareness, government initiatives to eliminate cancer, and changing lifestyles, increasing obesity cases.
Due to the covid-19 pandemic outbreak, the market for the Global differentiated thyroid cancer drugs market was seen to be down, due to the barriers in production and sales segments. Since the outbreak led to the shutdown of all manufacturing firms except for masks, sanitizers, and ventilators. Hence, the Drugs were manufactured less compared to previous years, during the outbreak.
North America holds the largest market in the global gastrointestinal cancer drugs market due to the high incidence of cancer, according to the International Agency for Research on Cancer (IARC), which claims 13 million new cancer cases worldwide.
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The Asia Pacific is expected to be the fastest-growing market over the forecast period owing to the increasing prevalence rate, increasing focus on preventive care, and government initiatives promoting technological innovations.
Global Gastrointestinal Cancer Drugs Market is quite competitive with some key competitors like Amgen Limited & Amgen Ireland Limited, Bristol-Myers Squibb Company, F. Hoffmann-La Roche Ltd., Eli Lilly and Company, Johnson & Johnson Private Limited, GlaxoSmithKline plc., Celgene Corporation, Pfizer Inc., and Novartis AG, Sanofi. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, contributing to the market’s growth globally.
Market Segmentation:
By Therapy:
Targeted Therapy
Chemotherapy
Radiation therapy
Surgery
Others
By End-users:
Hospitals
Cancer Research Institutes
Ambulatory Surgical Centers
Clinics
By Region:
North America
Europe
South America
Asia Pacific
Middle East, and Africa
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