Gastrointestinal Cancer Drugs Market Size & Industry Share - Growth Trends & Forecasts (2023 - 2031)

Based on the Drug Type :

The drug type is categorized into chemotherapy, targeted therapy, immunotherapy, and others. In 2022, chemotherapy segment accounted for the highest market share of in the gastrointestinal cancer drug market. Chemotherapy is a type of cancer treatment that uses cytotoxic drugs to treat the cancer cells. Various chemotherapy drugs like 5-FU (fluorouracil), capecitabine, carboplatin, cisplatin, docetaxel, luoropyrimidine, platinum, taxanes, and irinotecan are still used as first-line therapy to treat advanced gastrointestinal cancer cells and prevent the tumor growth. These drugs are used both individually and in combination with other drugs. Additionally, new chemotherapy drug launches accounted for the growth of the chemotherapy segment. For instance, in April 2021, the Food and Drug Administration approved the nivolumab drug launched by Bristol-Myers Squibb, nivolumab in combination with fluoropyrimidine- and platinum-containing chemotherapy for advanced or metastatic gastric cancer, gastroesophageal junction cancer, and esophageal adenocarcinoma.

Moreover, the targeted therapy segment is expected to hold the highest CAGR over the forecast period. Targeted therapy uses drugs to identify and attack the molecules and pathways specifically involved in the cancer. Several types of targeted therapies for cancers, such as gene expression modulators, hormone therapies, apoptosis inducers, angiogenesis inhibitors, and signal transduction inhibitors are available in the market. Furthermore, the rising focus of companies on developing novel drugs and therapies for treating gastrointestinal cancer, coupled with increasing product launches, are expected to boost the market growth over the forecast period. For instance, in August 2023, from the results of an international phase 3 clinical trial, done in participation with Weill Cornell Medicine and NewYork-Presbyterian, it was found that a new targeted treatment called zolbetuximab, given in combination with standard chemotherapy, extended survival for patients with advanced gastric cancer that overexpressed a specific biomarker. These results have prompted the USFDA to grant priority review to the manufacturer's biologic license application and set January 12, 2024, as the target decision date.

Based on the Route of Administration :

By route of administration gastrointestinal cancer drugs market is categorized into oral drugs and injectable drugs. In 2022, injectable drugs segment accounted for the highest market share in the gastrointestinal cancer drug market and is expected to grow with the CAGR in the forecast period. Several injectable drugs are typically administered intravenously and subcutaneously in the body for the treatment of cancer. Most of the chemotherapy drugs, targeted drugs, and immunotherapy drugs are available in injectable form, leading to the dominance of this segment. Intravenous administration of drugs increases the bioavailability of drugs and also improves patient safety. Moreover, increasing advances in technology for injectable drugs is fueling the growth of this segment. For instance, in January 2022, West Pharmaceuticals announced a collaboration with Corning Incorporated in pharmaceutical injectable drug delivery. Corning's valor glass technology will be expanded to enable enhanced injectable drug packaging and delivery systems for the pharmaceutical industry as part of the new collaboration, to improve patient safety and broaden access to life-saving therapies.

Based on the Distribution Channel :

By distribution channel gastrointestinal cancer drugs market is categorized into hospital pharmacies, specialty pharmacies, retail pharmacies, online pharmacies, and others. In 2022, hospital pharmacies segment accounted for the highest market share of 38.81% in the gastric cancer drug market and is expected to grow with the CAGR over the forecast period. Cancer drugs are available in hospital pharmacies only as they need to be stored and sold under special conditions. Moreover, these drugs are not allowed to be sold without a prescription and they need to be administered by specialists with proper care. Moreover, the increasing number of hospitals in developing countries is driving the segment. For instance, according to the report by Investment Information and Credit Rating Agency, in August 2023, the hospital sector is driving a robust revenue growth of 8-10% in FY24, with an operating profit margin of 22-23%. This will boost the distribution of cancer drugs in the hospital pharmacies.

Based on the Region :

The regional segment includes North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

In 2022, North America accounted for the highest market share at 38.15% valued at USD 1,430.63 million in 2022 and USD 1,532.71 million in 2023, it is expected to reach USD 2,645.57 million in 2031. In the North America region, the U.S. accounted for the dominant market share of 65.70% in the year 2020. This is due to the new product launches and the increase in research activities by leading companies. For instance, in June 2023, Astellas Pharma Inc. filed a New Drug Application saying that, Zolbetuximab, a monoclonal antibody targeting claudin-18 isoform 2 (CLDN18.2), has shown efficacy in patients with CLDN18.2-positive, human epidermal growth factor receptor 2 (HER2)-negative, metastatic gastric or gastro-oesophageal junction adenocarcinoma. Moreover, in February 2023 AstraZeneca and KYM Biosciences Inc. entered into a global exclusive license agreement for CMG901 which is a potential antibody drug conjugate (ADC) targeting Claudin 18 isoform 2. Under the license agreement, AstraZeneca will be responsible for the research, development, manufacture, and commercialization of CMG901 globally. Thus, the new product launches and increase in research activities by leading companies are collectively boosting the market for gastrointestinal cancer drugs across the North America region and creating lucrative growth opportunities for the gastrointestinal cancer drugs market in North America.

Furthermore, the Asia Pacific region is expected to witness significant growth over the forecast period, growing at a CAGR of 7.4% during 2024-2031. This is mainly due to the higher prevalence of gastrointestinal cancer in this region. According to the report published by and Global Cancer Observatory in December 2020, of all gastric cancer cases, 60% were observed in Eastern Asia, 43.9% in China, and 56.6% of all global deaths occurring in Eastern Asia, with 48.6% of all global deaths occurring in China alone. Incidence rates were highest in males in Japan (48.1), Mongolia (47.2), and the Republic of Korea (39.7). Thus, the high prevalence of gastrointestinal cancer across the region is driving the demand for gastrointestinal cancer drugs across Asia Pacific.