The new report by Expert Market Research titled, ‘Global Gastrointestinal Stromal Tumour Market Growth, Report and Forecast 2023-2028’, gives an in-depth analysis of the global gastrointestinal stromal tumour market, assessing the market based on its segments like treatment type, indication, end use, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
- Forecast CAGR (2023-2028): 5.8%
The demand of the gastrointestinal stromal tumour market is supported by the rising prevalence of the disease worldwide. The increasing knowledge and comprehension of this tumour is driving the industry, which has catapulted the growth of the market tremendously. In addition, ongoing R&D activities across multiple medical research institutes and organisations worldwide are fostering gastrointestinal stromal tumour industry development. Region-wise, North America is an important gastrointestinal stromal tumour market and is also expected to hold its position over the forecast period.
The increasing acceptance of unhealthy dietary choices and the consequent poor lifestyles of people, accelerated by the use of food additives in those food items, may be due to the safe consumer growth in this area. The growing incidence of genetic diseases is also a fundamental factor leading to the exponential development in the coming years of this industry in North America. Moreover, in the forecast timeframe, Europe and the Asia Pacific are projected to see healthy growth.
Industry Definition and Major Segments
Gastrointestinal stromal tumours (GISTs) are classified as sarcomas of soft tissue that can be found in any portion of the digestive system. Generally, they are found in the small intestine and the stomach. In the specialised nerve cells located in the walls of the digestive system, GISTs begin to develop.
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On the basis of treatment type, the market is divided into:
- Targeted Drug Therapy
- Radiation Therapy
Based on indication, the industry can be segmented into:
- Small Intestine
By end use, the industry is categorised into:
- Cancer Treatment Centres
The regional markets for the product include:
- North America
- The Asia Pacific
- Latin America
- The Middle East and Africa
Developments in clinical practice guidelines are guiding the gastrointestinal stromal tumour industry. In addition, rapid expansion in the healthcare sector and an increasing emphasis on technological advances in this sector are expected to boost market growth in the forecast period for gastrointestinal stromal tumours. In addition, increasing investments in the medical industry, particularly in emerging economies, are anticipated to offer profitable opportunities during the forecast period. All the factors listed above are expected to strengthen the growth of the market in the coming years.
Key Market Players
The major players in the market are Pfizer Inc., Novartis AG, Bayer AG, and Blueprint Medicines Corporation, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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