PUBLISHER: The Business Research Company | PRODUCT CODE: 1426449
PUBLISHER: The Business Research Company | PRODUCT CODE: 1426449
A gastrointestinal stromal tumor (GIST) is a rare type of non-epithelial tumor that originates in the gastrointestinal (GI) tract. These tumors most commonly develop in the stomach or the small intestine, although they can occur anywhere along the GI tract, from the esophagus to the rectum.
The main treatment modalities for gastrointestinal stromal tumors include chemotherapy, targeted therapy, and others. Chemotherapy is a medical treatment that utilizes potent drugs to target and eliminate rapidly dividing cells in the body, including cancer cells. It is prescribed for various indications such as those affecting the stomach, small intestine, and other parts of the GI tract. Different end-users, including hospitals, clinics, specialized cancer treatment centers, and others, may administer chemotherapy as part of the treatment regimen.
The gastrointestinal stromal tumor market research report is one of a series of new reports from The Business Research Company that provides gastrointestinal stromal tumor market statistics, including gastrointestinal stromal tumor industry global market size, regional shares, competitors with a gastrointestinal stromal tumor market share, detailed gastrointestinal stromal tumor market segments, market trends and opportunities, and any further data you may need to thrive in the gastrointestinal stromal tumor industry. This gastrointestinal stromal tumor market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The gastrointestinal stromal tumor market size has grown strongly in recent years. It will grow from $1.18 billion in 2023 to $1.28 billion in 2024 at a compound annual growth rate (CAGR) of 8.1%. The growth observed in the historical period can be attributed to increased awareness and early diagnosis, the emergence of targeted therapies, enhanced surgical techniques, the development of personalized medicine, and improvements in supportive care.
The gastrointestinal stromal tumor market size is expected to see strong growth in the next few years. It will grow to $1.69 billion in 2028 at a compound annual growth rate (CAGR) of 7.1%. The anticipated growth in the forecast period can be attributed to continued research and drug development, a rise in patient-centric healthcare, the integration of precision medicine into clinical practice, increasing access to targeted therapies, and expanding genomic profiling capabilities. Key trends expected in the forecast period include growing collaboration in research and development, advancements in diagnostic technologies, collaborative research and clinical trials, increased focus on early detection and diagnosis, and exploration of combination therapies.
The anticipated increase in stomach cancer cases is poised to drive the growth of the gastrointestinal stromal tumor market. Stomach cancer, characterized by the uncontrolled growth of malignant cells in the stomach lining, is distinct from gastrointestinal stromal tumors (GISTs), although GISTs can occur in the stomach. Interestingly, individuals with GISTs who develop two separate tumors that merge into one have an elevated risk of additional cancers, including small bowel adenocarcinoma. For example, Cancer Research UK projects a 12% decline in stomach cancer incidence in the UK between 2023-2025 and 2038-2040, reaching an average of 8 cases per 100,000 people annually. Thus, the increasing occurrence of stomach cancer is a key driver propelling the gastrointestinal stromal tumor market.
The growing demand for precision medicine is expected to fuel the expansion of the gastrointestinal stromal tumor market. Precision medicine, tailored to individual patient characteristics such as genetics and lifestyle, is a targeted approach to medical treatment. In the case of gastrointestinal stromal tumors, precision medicine involves molecular profiling to identify specific mutations, guiding therapies such as imatinib. In 2022, the Food and Drug Administration's Center for Drug Evaluation and Research approved 37 new molecular entities, with 34% classified as personalized medicines. This rise in precision medicine adoption contributes to the growth of the gastrointestinal stromal tumor market.
The limitation of health awareness and literacy is anticipated to hinder the growth of the gastrointestinal stromal tumors (GIST) market. Limited awareness of safety regulations and guidelines can lead to accidents and injuries when handling drums, similar to the constraints faced in gastrointestinal stromal tumor management due to a lack of awareness about chronic disease treatment. Enhancing awareness within healthcare and research communities and among the general public is crucial to addressing cancer as a significant health issue. Therefore, the lack of health awareness and literacy significantly constrains the growth potential of the gastrointestinal stromal tumors market, hindering improvements in patient outcomes.
Major companies in the gastrointestinal stromal tumor market are introducing innovative drugs such as QINLOCK (Ripretinib) to cater to larger customer bases, boost sales, and increase revenue. QINLOCK (Ripretinib) is a prescription medicine approved for the treatment of advanced gastrointestinal stromal tumor (GIST). For instance, Zai Lab Ltd, a China-based biotechnology company, announced the approval of QINLOCK (Ripretinib) by the National Medical Products Administration (NMPA) of China in March 2021. This drug is prescribed for the treatment of advanced GIST in adult patients who have previously undergone treatment with three or more kinase inhibitors, including imatinib.
In June 2022, Immatics N.V., a Germany-based biotechnology company, formed a partnership with Bristol Myers Squibb to develop gamma delta allogeneic cell therapy programs. This collaboration aims to create advanced cancer immunotherapies with the potential to enhance the treatment of various cancers, including gastrointestinal stromal tumors (GISTs). Bristol Myers Squibb, a US-based pharmaceutical company, is actively involved in developing treatments related to GISTs.
Major companies operating in the gastrointestinal stromal tumor market report are Pfizer Inc., F. Hoffmann-La Roche AG, Bayer AG, Novartis AG, Merck & Co. Inc., GlaxoSmithKline plc, Bristol-Myers Squibb Company, Sanofi S.A., AstraZeneca plc, Eli Lilly and Company, Daiichi Sankyo Co. Ltd., Eisai Co. Ltd., Sun Pharmaceutical Industries Limited, Jiangsu Hengrui Medicine Co. Ltd., Exelixis Inc., NATCO Pharma Ltd., Blueprint Medicines Corporation, Array BioPharma Inc., Deciphera Pharmaceuticals Inc., Ono Pharmaceutical Co. Ltd., Boston Biomedical Inc., DNAtrix Inc., Advenchen Laboratories LLC, Arog Pharmaceuticals Inc., AB Sciences S.A.
North America was the largest region in the gastrointestinal stromal tumor market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the gastrointestinal stromal tumor market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the gastrointestinal stromal tumor market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The gastrointestinal stromal tumor market includes revenues earned by entities by providing services such as diagnostic services, pathology services, pathology services, and pathology services. The market value includes the value of related goods sold by the service provider or included within the service offering. The gastrointestinal stromal tumor market also includes sales of targeted therapy, chemotherapy, radiation therapy. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Gastrointestinal Stromal Tumor Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on gastrointestinal stromal tumor market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for gastrointestinal stromal tumor? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The gastrointestinal stromal tumor market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.