The gastric cancer drugs market consists of sales of drugs for gastric cancer. Gastric cancer, also known as stomach cancer, is the formation of abnormal cells on the lining of stomach resulting in stomach pain and indigestion.
The global gastric cancer drugs market is expected to decline from $3.2 billion in 2019 to $2.8 billion in 2020 at a compound annual growth rate (CAGR) of -14.1%. The decline is mainly due to the COVID-19 outbreak and the measures to contain it. Hospitals across the world have postponed the chemo treatments for cancer patients due to covid positive cases in the hospitals. The sessions are delayed or postponed to prevent patients and staff from unnecessary exposure. The cancer treatment can lower the patient`s ability to fight infection. COVID-19 pandemic is affecting industries across the globe including the pharmaceutical sector. The disruptions due to extended factory closures in various countries, shortage of APIs and other chemicals, rise in prices of key ingredients, and slowed production are the key factors for this decline. The market is then expected to recover and grow at a CAGR of 2.3% from 2021 and reach $3.6 billion in 2023.
