USD 1.02 billion growth in Gastrointestinal Stromal Tumors Therapeutics (GIST) Market, Increasing awareness campaigns about GIST boosting the growth, 17000 + Technavio
Ascentage Pharma, Bayer AG, Blueprint Medicines Corp., and Bristol Myers Squibb Co. are among the key companies
NEW YORK, Jan. 25, 2024 /PRNewswire/ -- The gastrointestinal stromal tumors therapeutics market is anticipated to grow by USD 1.02 billion, progressing at a CAGR of 6.01% during the forecast period. Increasing awareness campaigns about GIST is a key factor driving growth. Numerous organizations are conducting awareness campaigns on both regional and global scales. For example, The Life Raft Group is a non-profit organization dedicated to offering information, educating medical professionals, and providing support for innovative research in treating gastrointestinal stromal tumors. The organization seeks to minimize the time from symptom onset to diagnosis and treatment.
"Increasing research funding for GIST therapeutics is an emerging trend shaping the growth of companies. On the other hand, the High treatment costs of GIST are expected to reduce the growth potential," says a senior analyst of Technavio.
The gastrointestinal stromal tumors therapeutics market report includes information on the product launches, sustainability, and prospects of leading companies including Ascentage Pharma, Bayer AG, Blueprint Medicines Corp., Bristol Myers Squibb Co., Deciphera Pharmaceuticals Inc, Mendus AB, Novartis AG, Pfizer Inc., Sun Pharmaceutical Industries Ltd., Xencor Inc., AB Science SA, AROG Pharmaceuticals INC., Ipsen Pharma, Theseus Pharmaceuticals., Daiichi Sankyo Co. Ltd., Merck KGaA, and Takeda Pharmaceutical Co. Ltd..
The report includes a competitive analysis, a proprietary tool to analyze and evaluate the position of companies based on their industry position score and market performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.
Based on the Distribution Channel, the market is classified into hospital pharmacies, retail pharmacies, and online pharmacies. The hospital pharmacies segment is estimated to witness significant growth during the forecast period. Hospital pharmacies play a vital role in distributing pharmaceuticals, including generics and medications like KEYTRUDA and OPDIVO for treating GIST. They ensure these drugs are available to healthcare providers within hospitals. Additionally, hospital pharmacies educate patients on medication adherence and potential interactions, promoting compliance and effective GIST management.
Based on Geography, the market is classified as North America, Europe, Asia, and the Rest of the World (ROW). North America is estimated to contribute 41% to the growth of the global market during the forecast period. North America's gastrointestinal stromal tumor therapeutics market is growing due to the presence of the US, the world's largest pharmaceutical market. Despite the prevalence of alternative treatments like surgery, there has been a rise in the adoption of therapeutics for these tumors in the region in recent years.
Applications in Gastrointestinal Stromal Tumor (GIST) Therapeutics
Gastrointestinal Stromal Tumor (GIST) therapeutics, including Tyrosine Kinase Inhibitors (TKIs) like imatinib (Gleevec), sunitinib (Sutent), regorafenib (Stivarga), ripretinib (Qinlock), and avapritinib (Ayvakit), are at the forefront of targeted therapy. These treatments, supported by mutation analysis of the KIT gene and PDGFRA gene through molecular diagnostics, are evaluated in clinical trials for their efficacy in adjuvant and neoadjuvant therapy. Challenges such as drug resistance are addressed through ongoing research and development (R&D) efforts by pharmaceutical companies, leading to FDA and EMA approvals. Market analysis reveals insights into patient outcomes, healthcare costs, treatment guidelines, precision medicine, biopsy, radiological imaging, survival rates, oncology trends, and the impact of healthcare policy on the global market.
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ToC:
Executive Summary
Market Landscape
Market Sizing
Historic Market Sizes
Five Forces Analysis
Segmentation by Distribution Channel
Segmentation by Route Of Administration
Segmentation by Geography
Customer Landscape
Geographic Landscape
Drivers, Challenges, & Trends
Company Landscape
Company Analysis
Appendix
About US
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging trends and provide actionable insights to help businesses identify opportunities and develop effective strategies to optimize their positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable insights to identify opportunities in existing and potential areas and assess their competitive positions within changing scenarios.
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SOURCE Technavio
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