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FEATURED COMPANIES
- Bayer AG
- Bristol-Myers Squibb Co.
- Merck & Co., Inc.
- Novartis AG
- Pfizer Inc.
1h Free Analyst Time
Speak directly to the analyst to clarify any post sales queries you may have.
The gastrointestinal stromal tumors therapeutics market has witnessed an increase in the use of therapeutics. The demand for therapeutics is expected to increase owing to the increasing advances in the research of targeted checkpoint inhibitors such as programmed cell death protein 1 (PD-1) inhibitors and cytotoxic T-lymphocyte-associated protein 4 (CTLA-4) inhibitors. For instance, the market is expected to benefit significantly from the anticipated launch of KEYTRUDA, a novel PD-1 inhibitor by Merck, during the first half of the forecast period. The drug has shown superior efficacy in the clinical stages for the treatment of gastrointestinal stromal tumors. Also, these drugs are already approved for other indications and have been maintaining a blockbuster status. This would help these drugs to penetrate fast in the global gastrointestinal stromal tumors therapeutics market after their approval and launch, thereby increasing the adoption of therapeutics during the forecast period. Analysts have predicted that the gastrointestinal stromal tumors therapeutics market will register a CAGR of over 6% by 2023.
Market Overview
Increasing awareness campaigns
Gastrointestinal stromal tumors are a rare type of cancer; hence, the awareness of the disease is deficient among the people. As a result, the diagnosis of the indication is often delayed until the late stages due to the lack of knowledge of the symptoms, which is leading to an increase in the challenges with the treatment. Therefore, the morbidity of the disease is high. To overcome this challenge, various organizations are conducting awareness campaigns at both regional level and global level. For instance. The Life Raft Group is a non-profit organization that focuses on providing information, educating medical professionals, and providing support to conduct innovative research for the treatment of gastrointestinal stromal tumors. The organization aims at reducing the time between the first appearance of the symptom to the diagnosis of the disease and between the diagnosis and the treatment. Similarly, the GIST Cancer Research Fund is another organization that is actively involved in increasing the awareness of the indication in the US. Hence, the growth in the number of awareness campaigns is leading to the increasing diagnosis of the disease during the early stages, which is resulting in more patients undergoing treatment on time, thus driving the market growth.
High treatment costs
A significant share of the global gastrointestinal stromal tumor’s therapeutics market is dominated by specialty drugs such as GLEEVEC, STIVARGA, and SUTENT. These drugs are priced very high when compared with traditional chemotherapy drugs due to their ability to target multiple proteins. Most of the patients, who do not have health insurance or access to patient assistance programs by vendors or governments, cannot afford the treatment using these drugs, which reduces the patient adherence and poses a challenge to the market growth. Also, the expected launch of various biologics is likely to increase the costs of treatment during the forecast period. The complex manufacturing process and high R&D costs of biologics often lead to vendors offering these drugs at a high price. These high treatment costs using therapeutics are expected to be one of the significant challenges to market growth during the forecast period.
Competitive Landscape
The market appears to be moderately concentrated. The presence of a few companies, including Bayer AG and Bristol-Myers Squibb Co. makes the competitive environment quite intense. Factors such as the growing geriatric population and the increasing awareness campaigns will provide significant growth opportunities to the gastrointestinal stromal tumors therapeutics companies. Merck & Co. Inc., Novartis AG, and Pfizer Inc. are some of the major companies covered in this report.
Market Overview
Increasing awareness campaigns
Gastrointestinal stromal tumors are a rare type of cancer; hence, the awareness of the disease is deficient among the people. As a result, the diagnosis of the indication is often delayed until the late stages due to the lack of knowledge of the symptoms, which is leading to an increase in the challenges with the treatment. Therefore, the morbidity of the disease is high. To overcome this challenge, various organizations are conducting awareness campaigns at both regional level and global level. For instance. The Life Raft Group is a non-profit organization that focuses on providing information, educating medical professionals, and providing support to conduct innovative research for the treatment of gastrointestinal stromal tumors. The organization aims at reducing the time between the first appearance of the symptom to the diagnosis of the disease and between the diagnosis and the treatment. Similarly, the GIST Cancer Research Fund is another organization that is actively involved in increasing the awareness of the indication in the US. Hence, the growth in the number of awareness campaigns is leading to the increasing diagnosis of the disease during the early stages, which is resulting in more patients undergoing treatment on time, thus driving the market growth.
High treatment costs
A significant share of the global gastrointestinal stromal tumor’s therapeutics market is dominated by specialty drugs such as GLEEVEC, STIVARGA, and SUTENT. These drugs are priced very high when compared with traditional chemotherapy drugs due to their ability to target multiple proteins. Most of the patients, who do not have health insurance or access to patient assistance programs by vendors or governments, cannot afford the treatment using these drugs, which reduces the patient adherence and poses a challenge to the market growth. Also, the expected launch of various biologics is likely to increase the costs of treatment during the forecast period. The complex manufacturing process and high R&D costs of biologics often lead to vendors offering these drugs at a high price. These high treatment costs using therapeutics are expected to be one of the significant challenges to market growth during the forecast period.
Competitive Landscape
The market appears to be moderately concentrated. The presence of a few companies, including Bayer AG and Bristol-Myers Squibb Co. makes the competitive environment quite intense. Factors such as the growing geriatric population and the increasing awareness campaigns will provide significant growth opportunities to the gastrointestinal stromal tumors therapeutics companies. Merck & Co. Inc., Novartis AG, and Pfizer Inc. are some of the major companies covered in this report.
Note: Product cover images may vary from those shown
FEATURED COMPANIES
- Bayer AG
- Bristol-Myers Squibb Co.
- Merck & Co., Inc.
- Novartis AG
- Pfizer Inc.
PART 01: EXECUTIVE SUMMARYPART 06: PIPELINEPART 08: CUSTOMER LANDSCAPEPART 10: DECISION FRAMEWORKPART 12: MARKET TRENDS
PART 02: SCOPE OF THE REPORT
PART 03: MARKET LANDSCAPE
PART 04: MARKET SIZING
PART 05: FIVE FORCES ANALYSIS
PART 07: MARKET SEGMENTATION BY ROA
PART 09: GEOGRAPHIC LANDSCAPE
PART 11: DRIVERS AND CHALLENGES
PART 13: VENDOR LANDSCAPE
PART 14: VENDOR ANALYSIS
PART 15: APPENDIX
List of Exhibits:
Note: Product cover images may vary from those shown
FEATURED COMPANIES
- Bayer AG
- Bristol-Myers Squibb Co.
- Merck & Co., Inc.
- Novartis AG
- Pfizer Inc.
The following companies are recognised as the key players in the global gastrointestinal stromal tumor’s therapeutics market: Bayer AG, Bristol-Myers Squibb Co., Merck & Co. Inc., Novartis AG, and Pfizer Inc.
Commenting on the report, an analyst from the research team said: “The latest trend gaining momentum in the market is the increasing research funding.”
According to the report, one of the major drivers in this market is the growing adoption of therapeutics.
Further, the report states that one of the major factors hindering the growth of this market is the high treatment costs.
The study was conducted using an objective combination of primary and secondary information, including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
Commenting on the report, an analyst from the research team said: “The latest trend gaining momentum in the market is the increasing research funding.”
According to the report, one of the major drivers in this market is the growing adoption of therapeutics.
Further, the report states that one of the major factors hindering the growth of this market is the high treatment costs.
The study was conducted using an objective combination of primary and secondary information, including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
Note: Product cover images may vary from those shown
A selection of companies mentioned in this report includes:
- Bayer AG
- Bristol-Myers Squibb Co.
- Merck & Co., Inc.
- Novartis AG
- Pfizer Inc.
Note: Product cover images may vary from those shown
