What’s Driving Growth in the Gastrointestinal Stromal Tumor Market? Insights into Key Trends and Opportunities
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What is the Anticipated CAGR of the Gastrointestinal Stromal Tumor Market, and What Factors Will Drive It?
Recent years have seen robust growth in the gastrointestinal stromal tumor market size. It is projected to escalate from $1.28 billion in 2024 to $1.37 billion in 2025, reporting a compound annual growth rate (CAGR) of 7.2%. The notable growth during the historical period can be credited to factors such as heightened awareness and early detection, the advent of targeted therapies, advancements in surgical methodologies, the creation of personalized medicine, and upgrades in supportive care.
In the coming years, the market size of gastrointestinal stromal tumor is predicted to witness a robust expansion, reaching $1.82 billion in 2029 with a compound annual growth rate (CAGR) of 7.4%. This projected growth within the forecast period can be owed to factors like sustained research and pharmaceutical advancements, increased emphasis on patient-focused healthcare, application of precision medicine in clinical operations, more access to targeted treatments, and the growing capabilities in genomic profiling. Prevalent trends for the forecast duration involve increasing cooperation in R&D activities, progression in diagnostic devices, combined research and clinical studies, heightened attention to early detection and diagnosis, as well as the investigation into combination therapies.
What Are the Primary Drivers Supporting the Growth of the gastrointestinal stromal tumor Market?
The augmented incidence of stomach cancer is anticipated to fuel the rise of the gastrointestinal stromal tumor market. Stomach cancer involves malignantly unrestrained growth and propagation of cells in the stomach lining. Although gastrointestinal stromal tumors (GISTs) can occur in the stomach, they are a different entity from stomach cancer. When two distinct tumors fuse into a single one, patients with GISTs have been found at a heightened risk for getting additional cancers, including small bowel adenocarcinoma. For example, as reported by the American Cancer Society, a US-based professional organization in January 2024, approximately 26,890 new stomach cancer cases and 10,880 fatalities are expected in the U.S. for 2024, comprising 1.5% of all new cancer diagnoses. Thus, the escalating incidence of stomach cancer is a key driver for expanding the gastrointestinal stromal tumor market. The escalating demand for precision medicine is also set to fuel the rise of the gastrointestinal stromal tumor market. Precision medicine constitutes an approach to medical treatment that personalizes healthcare decisions, interventions, and therapies according to unique patient traits, such as genetics and lifestyle. In the case of gastrointestinal stromal tumors, precision medicine involves molecular profiling to detect specific mutations, guiding targeted therapies like imatinib, and maximizing treatment effectiveness while reducing side effects through individualized interventions. For example, as per a February 2023 report by the Personalized Medicine Coalition (PMC), a US-based nonprofit organization, personalized medicines made up 35% of recently approved NMEs in 2021, and with 12 new approvals in 2022, they have maintained a steady share of at least one-fourth of newly approved drugs over the last eight years, marking a considerable increase from less than 10% a decade earlier. Hence, the surging demand for precision medicine is a crucial driver for the growth of the gastrointestinal stromal tumor market.
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Who Are the Top Companies Contributing to the Growth of the Gastrointestinal Stromal Tumor Market?
Major companies operating in the gastrointestinal stromal tumor market report are:
• Pfizer Inc._x000D_
• F. Hoffmann-La Roche AG_x000D_
• Bayer AG_x000D_
• Novartis AG_x000D_
• Merck & Co. Inc._x000D_
How Are Technological Trends Affecting the Growth and Development of the Gastrointestinal Stromal Tumor Market?
Key players in the gastrointestinal stromal tumor market are introducing innovative solutions such as QINLOCK (Ripretinib) in an attempt to reach a larger customer base, boost sales, and generate increased revenue. QINLOCK (Ripretinib) is a prescription drug designed to treat progressive gastrointestinal stromal tumor (GIST). For example, the US Food and Drug Administration (FDA), a federal agency based in the US, reported that the number of novel drugs approved by the CDER jumped from 37 in 2022 to 55 in 2023. In 2023, CDER classified 20 of the 55 newly approved drugs (36%) as first-in-class.
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Which Market Segments Are Driving Strategic Growth and Trends in the Gastrointestinal Stromal Tumor Market?
The gastrointestinal stromal tumor market covered in this report is segmented –
1) By Treatment Type: Chemotherapy, Targeted Therapy, Other Treatment Types
2) By Indication: Stomach, Small Intestine, Others Indications
3) By End-User: Hospitals, Clinics, Specialized Cancer Treatment Centers, Other End-Users
Subsegments:
1) By Chemotherapy: Traditional Chemotherapy Agents, Combination Chemotherapy Regimens
2) By Targeted Therapy: Tyrosine Kinase Inhibitors, Other Targeted Agents
3) By Other Treatment Types: Surgery, Radiation Therapy, Clinical Trials For Novel Therapies
What Are the Key Regions Powering Growth in the Gastrointestinal Stromal Tumor Market?
North America was the largest region in the gastrointestinal stromal tumor market in 2024. 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
How Is the Gastrointestinal Stromal Tumor Market Defined Across Different Regions?
A gastrointestinal stromal tumor (GIST) is a type of rare, non-epithelial tumor that originates in the gastrointestinal (GI) tract. These are most commonly developed in the stomach or the small intestine, but they can occur anywhere along the GI tract, from the esophagus to the rectum.
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