Gastrointestinal Stromal Tumor Therapeutics Market
Number of pages: 100 | Report Format: PDF | Published date: June 01, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023-2031
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Report Attribute |
Details |
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Market Size Value in 2022 |
US$ 850.6 million |
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Revenue Forecast in 2031 |
US$ 1,494.79 million |
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CAGR |
5.8% |
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Base Year for Estimation |
2022 |
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Forecast Period |
2023 to 2031 |
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Historical Year |
2021 |
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Segments Covered |
Therapy Type, End User, and Region |
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Regional Scope |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
According to the deep-dive market assessment study by Growth Plus Reports, the global gastrointestinal stromal tumor therapeutics market was valued at US$ 850.6 million in 2022 and is expected to register a revenue CAGR of 5.8% to reach US$ 1,494.79 million by 2031.
Gastrointestinal Stromal Tumor Therapeutics Market Fundamentals
Gastrointestinal stromal tumor (GIST) is a type of tumor that originates in the gastrointestinal (GI) tract, primarily in the stomach or small intestine. Gastrointestinal stromal tumors arise from specialized cells called Cajal's interstitial cells, which regulate food's movement through the digestive system. Gastrointestinal stromal tumor therapeutics refers to the various treatment options and strategies used to manage and treat gastrointestinal stromal tumors. Therapeutics for gastrointestinal stromal tumors typically involve a multi-modal approach, which may include targeted drug therapy and chemotherapy. The treatment plan for a patient with a gastrointestinal stromal tumor will depend on various factors, including the tumor size, location, stage, and overall health.
Gastrointestinal Stromal Tumor Therapeutics Market Dynamics
The incidence of gastrointestinal stromal tumors has been on the rise in recent years, contributing to the growth of the gastrointestinal stromal tumor therapeutics market. Improved diagnostic techniques and increased awareness among physicians and patients have led to earlier detection and diagnosis of gastrointestinal stromal tumors, driving the demand for effective treatment options. According to the National Center for Biotechnology Information, the gastrointestinal stromal tumor is the most prevalent mesenchymal neoplasm of the gastrointestinal (GI) tract, accounting for 80% of all GI sarcomas and 0.1 to 3% of all GI malignancies and impacting 1.1 people per 100,000 worldwide each year. The development of targeted therapies, such as tyrosine kinase inhibitors (TKIs), has revolutionized the treatment of gastrointestinal stromal tumors. Pharmaceutical companies are working on the development of next-generation TKIs with improved efficacy against resistant mutations. These novel TKIs aim to overcome resistance mechanisms and provide more effective treatment options for gastrointestinal stromal tumor patients, contributing to gastrointestinal stromal tumor therapeutics market growth.
Ongoing research and development activities in the field of gastrointestinal stromal tumor therapeutics drive innovation and the introduction of new treatment options. Pharmaceutical companies and academic institutions actively engage in clinical trials and studies to identify novel therapeutic approaches, including combination therapies and immune-based treatments. Immunotherapy is an actively researched area in the field of gastrointestinal stromal tumor therapeutics, focusing on leveraging the body's immune system to target and eradicate cancer cells. Studies are investigating the potential of immune checkpoint inhibitors and other immunotherapeutic strategies in treating gastrointestinal stromal tumor therapeutics. This emerging field presents potential business opportunities for companies involved in the development and commercialization of immunotherapeutic products tailored to the needs of gastrointestinal stromal tumor patients. The overall growth in healthcare expenditure, particularly in cancer treatment, positively impacts the gastrointestinal stromal tumor therapeutics market. Governments and healthcare systems are allocating significant resources to cancer care and investing in advanced treatment modalities, leading to improved access to gastrointestinal stromal tumor therapeutics.
However, Targeted therapies used in gastrointestinal stromal tumor therapeutics, such as imatinib and other TKIs, are costly. The high cost of these drugs can limit access for patients, which is restricting the gastrointestinal stromal tumor therapeutics market growth. Gastrointestinal stromal tumor therapeutics, including targeted therapies, can be associated with side effects and toxicity. Common adverse effects of TKIs include gastrointestinal symptoms, fatigue, skin reactions, and hematologic abnormalities, hindering the demand for gastrointestinal stromal tumor therapeutics.
Gastrointestinal Stromal Tumor Therapeutics Market Ecosystem
The global gastrointestinal stromal tumor therapeutics market is analyzed from three perspectives: therapy type, end user, and region.
Gastrointestinal Stromal Tumor Therapeutics Market by Therapy Type
Based on the therapy types, the global gastrointestinal stromal tumor therapeutics market is segmented into chemotherapy, targeted therapy, and others.
The targeted therapy segment accounted for the largest gastrointestinal stromal tumor therapeutics market share in 2022. Targeted therapies, specifically tyrosine kinase inhibitors (TKIs), have effectively treated gastrointestinal stromal tumors. TKIs, such as imatinib (Gleevec), effectively inhibit the activity of mutated proteins (KIT and PDGFRA) that drive gastrointestinal stromal tumor growth. They have shown significant tumor response rates and improved progression-free survival in gastrointestinal stromal tumor patients, making them the primary treatment option. Targeted therapies are designed to selectively target cancer cells while sparing normal cells, resulting in a more precise and targeted approach. Unlike traditional chemotherapy, which affects both cancerous and healthy cells, targeted therapies have a more favorable toxicity profile and can minimize adverse effects. National and international clinical guidelines recommend targeted therapy as the standard treatment for gastrointestinal stromal tumors. These guidelines, based on extensive clinical data and research, influence the treatment decisions made by healthcare professionals and contribute to the widespread adoption of targeted therapies. Targeted therapies have significantly improved patient outcomes in gastrointestinal stromal tumor treatment. They have contributed to longer progression-free survival, improved quality of life, and increased overall survival rates in gastrointestinal stromal tumor patients.
Gastrointestinal Stromal Tumor Therapeutics Market by End User
Based on the end users, the global gastrointestinal stromal tumor therapeutics market is segmented into hospitals, specialized cancer treatment centers, and others.
The hospital segment accounted for the highest revenue share of the gastrointestinal stromal tumor therapeutics market, with a 43% market share. Hospitals generally have comprehensive healthcare infrastructure, including specialized oncology departments and facilities, which enables them to provide a wide range of diagnostic, treatment, and supportive services for gastrointestinal stromal tumor patients. This infrastructure includes advanced imaging technologies, surgical capabilities, and access to targeted therapies, making hospitals well-equipped to handle gastrointestinal stromal tumor cases. Gastrointestinal stromal tumor treatment often requires a multidisciplinary approach involving medical oncologists, surgeons, radiologists, pathologists, and other healthcare professionals. Hospitals, particularly those with dedicated cancer centers, have the resources to facilitate collaboration among different specialists to develop and execute a comprehensive treatment plan for gastrointestinal stromal tumor patients. Hospitals often have partnerships and collaborations with research institutions and pharmaceutical companies, providing them with opportunities to participate in clinical trials for gastrointestinal stromal tumor therapeutics. Clinical trials help evaluate the safety and efficacy of novel treatments and contribute to the advancement of gastrointestinal stromal tumor therapeutics. Gastrointestinal stromal tumor treatment, particularly targeted therapies, can be expensive. Hospitals often have established relationships with insurance companies and can navigate the reimbursement process more effectively. This ensures that patients can access appropriate treatments without significant financial burden, thus propelling segmental growth.
Gastrointestinal Stromal Tumor Therapeutics Market by Region
Geographically, the global gastrointestinal stromal tumor therapeutics market has been segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
The North America region has the largest gastrointestinal stromal tumor therapeutics market size in terms of revenue generation accounting for around 37.3% share of the market. North America has a relatively higher prevalence of gastrointestinal stromal tumors. This increased incidence and prevalence of gastrointestinal stromal tumors drive the demand for effective therapeutics and treatment options, stimulating market growth in the region. According to the American Cancer Society, The total number of gastrointestinal stromal tumor cases diagnosed in the U.S. annually is estimated to be between 4,000 and 6,000. North America has well-established healthcare systems and favorable reimbursement policies. Adequate reimbursement for expensive targeted therapies enables wider patient access and acceptance of these treatments, contributing to market growth. North America is a hub for pharmaceutical research and development. Academic institutions, research organizations, and pharmaceutical companies in the region actively engage in clinical trials, studying novel therapeutic approaches, and exploring innovative treatment options for gastrointestinal stromal tumors. This vibrant research environment fuels advancements and drives regional growth. North America boasts advanced healthcare infrastructure, including well-equipped hospitals, specialized cancer centers, and research institutions. This infrastructure facilitates early detection, diagnosis, and treatment of GIST, ensuring timely and optimal management of the disease. Patient advocacy groups and organizations in North America actively work to raise awareness about GIST, provide support to patients and caregivers, and advocate for better treatment options. Increased awareness among patients and healthcare professionals promotes early diagnosis and treatment, driving regional growth.
The Asia Pacific segment is expected to register the fastest growth rate during the forecast periods from 2023 to 2031, with an approximate 30% market share. The Asia Pacific region has witnessed a rising prevalence of GIST in recent years. Factors such as changing lifestyles, aging populations, and increased awareness and diagnosis contribute to the growing incidence of GIST. This increasing patient population drives the demand for effective therapeutics, stimulating market growth in the region. The Asia Pacific region is home to a large and diverse population, including countries such as China, India, and Japan. The sheer size of the population creates a significant patient pool for GIST therapeutics. Additionally, the region's demographic factors, such as a growing elderly population, contribute to the increased incidence of GIST and the demand for targeted therapies. According to the National Center for Biotechnology Information, GIST occurs most commonly in the 40s - 60s age group with similar male-to-female incidence. Several countries in the Asia Pacific region, such as China and India, are experiencing rapid economic growth and rising disposable income levels. This economic development has led to increased healthcare spending and improved affordability of expensive GIST therapeutics.
Gastrointestinal Stromal Tumor Therapeutics Market Competitive Landscape
The prominent players operating in the global gastrointestinal stromal tumor therapeutics market are:
Gastrointestinal Stromal Tumor Therapeutics Market Strategic Developments
Gastrointestinal stromal tumor (GIST) is a type of tumor that originates in the gastrointestinal (GI) tract, primarily in the stomach or small intestine. Gastrointestinal stromal tumors arise from specialized cells called interstitial cells of Cajal, which regulate the movement of food through the digestive system.
The estimated size of the global gastrointestinal stromal tumor therapeutics market in 2031 is US$ 1,494.79 million.
The prominent players operating in the global gastrointestinal stromal tumor therapeutics market are Bristol-Myers Squibb Company, Novartis AG, Taiho Pharmaceutical Co., Ltd., Takeda Pharmaceutical Company Limited, and AROG Pharmaceuticals, Inc.
The global gastrointestinal stromal tumor therapeutics market growth is estimated to grow at a revenue CAGR of 5.8% during the forecast period from 2023 to 2031.
Asia Pacific can be considered the key growth region due to the surge in gastrointestinal stromal tumor therapeutics industry trends in China, Japan, and the Indian subcontinent.
*Insights on financial performance are subject to the availability of information in the public domain