Rising Awareness of Gastric Cancer to Provide Opportunities to Gastric Cancer Diagnostic Procedure Market Players
According to our new market research study on "Gastric Cancer Diagnostic Procedure Market to 2028 – COVID-19 Impact and Global Analysis – by Healthcare Provider, Symptom Type, Body Fluid, Procedure, Offering, and Disease Indication," the gastric cancer diagnostic procedure market is expected to grow from US$ 1,307.96 million in 2022 to US$ 1,912.03 million by 2028; it is estimated to record a CAGR of 6.5% from 2022 to 2028. The report highlights trends prevailing in the gastric cancer diagnostic procedure market, and drivers and restraints pertaining to the market growth.
Rising Awareness of Gastric Cancer Would Provide Growth Opportunities to Gastric Cancer Diagnostic Procedure Market Players in Coming Years
No Stomach For Cancer (NSFC), a nonprofit organization, contributes to spreading awareness and educating people about stomach cancer. The organization supports research focused on screening, early detection, treatment, and prevention of stomach cancer. In November 2010, the NSFC successfully championed and celebrated the first official Stomach Cancer Awareness Month in the US, which became a global event for the awareness of gastric cancer. Since then, November is observed as the Stomach Cancer Awareness Month every year across the globe. The primary goal of the awareness program is to educate people about stomach cancer, shedding light on its risk factors, prevention, and early detection. The NFCS makes financial investments in stomach cancer research for better diagnosis and treatments, improved survival rates, and the ultimate cure.
China has launched National Key Public Health Projects, providing free endoscopic screenings for upper gastrointestinal cancer in more than 110 high-risk areas. Hope For Stomach Cancer is another nonprofit organization that offers resources to patients, caregivers, and loved ones while promoting early detection and prevention in general and medical communities. The organization develops and facilitates programs that assist stomach cancer patients to live the best possible life throughout the phases of the disease. Therefore, a rising number of gastric cancer awareness programs are expected to offer lucrative opportunities for the gastric cancer diagnostic procedures market during the forecast period.
The gastric cancer diagnostic procedure market has been analyzed on the basis of North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. North America held the largest market share in 2022, while the US leads the market in this region. The market growth in the country is attributed to rising awareness about gastric cancer among the population and the growing prevalence of gastrointestinal diseases. Further, the gastric cancer diagnostic procedure market in Asia Pacific is expected to grow at the highest CAGR during the forecast period. China held the largest share of the market in this region in 2021, and India is expected to exhibit substantial growth in the market during the forecast period. The market growth in India and China is attributed to the increasing incidence of gastric cancer cases, growing awareness about diagnosis, rising geriatric population, and increasing prevalence of H. pylori infection.
COVID-19 had a detrimental impact on cancer care. According to the National Center for Biotechnology Information (NCBI), the COVID-19 pandemic led to delays in diagnosis. Most hospitals and centers deprioritized non-COVID-19 treatments in 2020. For instance, hospitalization for chemotherapy declined by 60% in England in the second and third quarters of 2020. However, increased adoption of recently launched products in several countries and increased diagnosis rate are anticipated to fuel market growth in the coming years. For instance, in October 2021, Agilent Technologies Inc. received CE-IVD mark approval for the PD-L1 IHC 28-8 pharmDx, which is meant to provide options for the first-line treatment of adult patients with HER2-negative advanced or metastatic gastric, gastroesophageal junction, or esophageal cancers.
Atlas-Link Biotech Co Ltd, Bio-Rad Laboratories Inc, MiRXES Pte Ltd, Agilent Technologies Inc, F. Hoffmann-La Roche Ltd, bioMerieux SA, Thermo Fisher Scientific Inc, Illumina Inc, Vela Diagnostics Holding Pte Ltd, and Myraid Genetics Inc. are among the key companies operating in the gastric cancer diagnostic procedure market.
The gastric cancer diagnostic procedure market is segmented on the basis of healthcare provider, symptom type, body fluid, procedure, offering, disease indication, and geography. Based on healthcare provider, the market is segmented into diagnostic laboratories, hospitals, cancer research institutes, oncology specialty clinics, and others. By symptom type, the gastric cancer diagnostic procedure market is bifurcated into symptomatic and asymptomatic. In terms of body fluid, the gastric cancer diagnostic procedures market is divided into blood, urine, saliva, stomach wash/gastric juice, tissue, and others. In terms of procedure, the market is segmented into endoscopic procedures, biopsy & tissue tests, lab tests, in-vitro diagnostic tests, imaging tests, molecular diagnostics, multiplexing molecular diagnostics & immunoassays, and others. The endoscopic procedures segment is further bifurcated into esophagogastroduodenoscopy (EGD) and endoscopic ultrasound (EUS). Based on offering, the gastric cancer diagnostic procedures market is segmented into instruments, reagents & consumables (including kits), and services. In terms of disease indication, the market is bifurcated into early gastric cancer and gastric cancer advanced types.
Based on geography, the gastric cancer diagnostic procedure market is segmented into North America (the US, Canada, and Mexico), Europe (the UK, Germany, France, Italy, Spain, and Rest of Europe), Asia Pacific (China, Japan, India, Australia, South Korea, and Rest of Asia Pacific), the Middle East & Africa (the UAE, Saudi Arabia, South Africa, and Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and Rest of South & Central America).
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