The Gastrointestinal Stromal Tumors Market Size was valued at USD 0.58 Billion in 2023. The Global Gastrointestinal Stromal Tumors industry is projected to grow from USD 0.62 Billion in 2024 to USD 1.04 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 7.9% during the forecast period (2024 - 2032). The gastrointestinal stromal tumor is a tumor that appears in the gastrointestinal tract. These tumors originate from the specialized cells called Interstitial Cells of Cajal (ICC). Thus, Gastrointestinal Stromal Tumors are a form of cancer known as soft tissue sarcoma. The tissue sarcoma further develops in the connective and supportive tissues. With significant technological advancements, the Gastrointestinal Stromal Tumors Global Market is projected to have substantial growth in the future.
COVID-19 Analysis
The COVID-19 disease led to a massive economic disruption across the world. The healthcare system was highly affected due to the spread. The treatment of other diseases was halted for a significant period. Along with that, the lockdown heavily impacted the supply chain of the Gastrointestinal Stromal Tumors Market. However, it is anticipated that with the lessening spread of coronavirus disease, the market will regain its growth in the future.
Ontario and Quebec are among the Canadian provinces in which it is presently found. Alberta, Saskatchewan, and Manitoba are one such indication that indicates their new status, while others involve the Non-Insured Health Benefits (NIHB) program, a step that would further increase public formulary coverage for advanced GIST patients older than 18 years at diagnosis and previously treated with imatinib, Sunitinib or regorafenib. This was developed by Deciphera Pharmaceuticals, a biopharmaceutical firm dedicated to creating novel drugs for cancer patients’ rescue.
The Center for Drug Evaluation under the National Medical Products Administration (NMPA) of China has given BTD status of olverembatinib, also known as HQP1351, which was developed by Ascentage Pharma to be used in treating patients with previously-treated succinate dehydrogenase (SDH)-deficient GISTs. CDE awarded BDT to olverembatinib on usage in adult subjects with chronic-phase chronic myeloid leukemia resistant to and/or intolerant of previous therapies, including first- and second-generation TKIs as of March 2021.
In February 2021, Glenmark Pharmaceuticals launched SUTIB in India. Its price is approximately 96% less than the innovator brand at MRP of Rs.7000/-per month for 50 mg tablets, Rs.3600/-per month for 25mg tablets, and Rs.1840/- per month for 12.5mg tablets. The US Food and Drug Administration also approved Sunitinib as well. Renal cell carcinoma is often referred to as kidney cancer, characterized by malignantly transformed cells that give rise to renal cell carcinoma that commences growing uncontrollably along the tubular lining inside the kidneys; thus, it can no longer be considered fatal ten years from now. Multikinase inhibitor MKI sunitinib orally targets several proteins that are involved in cell proliferation. It is used to treat some patients with gastrointestinal stromal tumors and advanced renal cell carcinoma and also has approval for specific patients with Pancreatic Neuroendocrine Tumours.
Market Drivers
The rising cases of gastrointestinal diseases and other cancerous diseases are the crucial drivers of the Gastrointestinal Stromal Tumors Market. Also, the increasing funds for development and research in life sciences will further enhance the market growth.
Restraints
The availability of fake and misbranded drugs is considered a significant restraint. As a result, it can create confusion and hinder the Gastrointestinal Stromal Tumors Market Value.
Opportunities
The increasing population of the older generation and rapid technological advancements is evaluated to provide various opportunities for market growth.
Challenges
The low awareness for the treatment of chronic diseases and the low availability of skilled medical experts in various low and middle-income countries is a major challenge. Also, the demand for the non-invasive procedure is a significant challenge for the Gastrointestinal Stromal Tumors Market Growth.
Cumulative Analysis
The Compound Annual Growth Rate (CAGR) of the Gastrointestinal Stromal Tumors Market is estimated to reach up to 7.20%. According to the Gastrointestinal Stromal Tumors Market Analysis by MRFR, the value is projected to reach up to USD 3.29 Billion by the studied forecast period of 2024-2032.
Value Chain Analysis
The rising demands and technological development will lead to raising the Gastrointestinal Stromal Tumors Market Trends. Also, investments for development and research by key players and initiatives by governments will simultaneously improve the value chain of the market.
The Gastrointestinal Stromal Tumors Market Size is divided into treatment, indication, end-user, and diagnosis. Based upon treatment, the market is divided into Radiation Therapy, Embolization, Surgery, Targeted Therapy, Ablation, Chemotherapy, and Others. Further, the targeted therapy is segmented into Regorafenic, Imatinib, Sunitinib, Tyrosine Kinase Inhibitors, and Others. Along with that, ablation is divided into Microwave Thermotherapy, Ethanol, Radiofrequency Ablation, Cryosurgery, and Others.
Based upon indication, the Gastrointestinal Stromal Tumors Market is divided into Large Intestine, Small Intestine, Stomach, and Others.
The end-user segment of the Gastrointestinal Stromal Tumors Market is divided into Ambulatory Surgical Centres, Clinics and Hospitals, and Others.
Lastly, the diagnosis segment is divided into Endoscopy, Tomography Scans of Pelvis and Abdomen, Plain Abdominal Radiography, Imaging Studies, Endoscopic Ultrasonography, Air and Barium (Double Contrast), series, Magnetic Resonance Imaging, and Others.
Geographically, the Gastrointestinal Stromal Tumors industry is divided into Asia-pacific, Europe, Africa, and the Middle East, and the Americas. Gastrointestinal Stromal Tumors Global Market Analysis suggests that Americas will hold the largest share in the studied forecast period. The Americas region is divided into Latin and North America. The increasing cases of genetic disorders in countries such as Canada and the USA are vital reasons for growth. Also, the easy availability of advanced healthcare facilities for patients is propelling the market growth.
Secondly, Europe will hold the second-largest Gastrointestinal Stromal Tumors Market Share. This region consists of countries such as Italy, France, Germany, the UK, Spain, and others. The rising cases f stromal tumors in these counties are majorly driving the market.
Thirdly, Asia-Pacific is evaluated to observe the fastest CAGR during the studied forecast period. Rapid development in healthcare facilities and rising awareness for the treatment of chronic diseases are boosting the market growth. Also, rising development and research in major countries such as China, India, and Japan are crucial for the significant Gastrointestinal Stromal Tumors Market Growth.
Africa and the Middle East are evaluated to observe the steady growth. Due to the limited availability of resources and healthcare facilities and low awareness for chronic diseases the region is evaluated to have the least share.
Competitive Landscape
The Gastrointestinal Stromal Tumors Market is fragmented with the presence of several key players. These key players play a crucial role in enhancing market growth. They take important strategic steps such as mergers, partnerships, collaborations, etc. Some of the key players of the market are as follows.
Gastrointestinal Stromal Tumors Market Segmentation
The report score gives valuable insight into the Gastrointestinal Stromal Tumors Market Analysis. It highlights information about the market dynamics such as challenges, opportunities, key players and their strategies, etc. The information provided in this report is collected from primary and secondary sources.
Report Overview
The overview of the Gastrointestinal Stromal Tumors Market Outlook is listed below.
| eport Attribute/Metric | Details |
| Market Size | 1.04 Billion |
| CAGR | 7.90%(2024-2032) |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2021 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Indication,Diagnosis ,Treatment and End-User |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Vendors | Immunicum AB (Sweden) NATCO Pharma Limited (US) AB Science (France) Bayer AG (Germany) Arog Pharmaceuticals, Inc (US) Sun Pharmaceutical Industries Limited India) Novartis AG (Switzerland) Hoffman-La Roche Ltd. (Switzerland) Pfizer Inc. (US) Boston Biomedical, Inc. (US) |
| Key Market Opportunities | The increasing population of the older generation and rapid technological advancements is evaluated to provide various opportunities for market growth. |
| Key Market Drivers | The rising cases of gastrointestinal diseases and other cancerous diseases are the crucial drivers of the Gastrointestinal Stromal Tumors Market. Also, the increasing funds for development and research in life sciences will further enhance the market growth. |
Frequently Asked Questions (FAQ) :
The outlook of the global gastrointestinal stromal tumors market looks very promising.
global gastrointestinal stromal tumors market is projected to grow at approximately 7.80% CAGR during the assessment period (2024-2032).
Investments and funding in the field of life science research and favorable reimbursements policies and health insurance are the major tailwinds pushing the growth of the global gastrointestinal stromal tumors market.
North America holds the largest share in the global gastrointestinal stromal tumors market, followed by Europe and the Asia Pacific, respectively.
Novartis AG (Switzerland), Bayer AG (Germany), Immunicum AB (Sweden), AB SCIENCES (FRANCE), F. Hoffmann-La Roche Ltd.(Switzerland), Arog Pharmaceuticals, Inc. (US), Sun Pharmaceutical Industries Limited (India), Boston Biomedical, Inc. (US), Pfizer Inc. (US), and NATCO Pharma Limited (US), are some of the major players operating in the gastrointestinal stromal tumors market.
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Assistant Manager He holds an experience of about 7+ years in market research and business consulting, working under the spectrum of life sciences and healthcare domains. rahul conceptualizes and implements a scalable business strategy and provides strategic leadership to the clients. his expertise lies in market estimation, competitive intelligence, pipeline analysis, customer assessment, etc. in addition to the above, his other responsibility includes strategic tracking of high growth markets & advising clients on the potential areas of focus they could direct their business initiatives
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