What Is The Current and Historic Market Size Analysis Of The Gastric Cancer Diagnostic Procedure Market?
The gastric cancer diagnostic procedure market has seen considerable growth due to a variety of factors.
•The market size of gastric cancer diagnostic procedures has witnessed robust growth lately. It is projected that the market will expand from its value of $1.44 billion in 2024 to hit the $1.54 billion mark in 2025, displaying a compound annual growth rate (CAGR) of 7.3%.
The growth observed in the historic period can be credited to advancements in biopsy methods, an upsurge in the allocation of research funds, the progress of biomarker discovery, enhancements in pathological evaluations, and changes in screening guidelines.
What Are The Predictions for The Gastric Cancer Diagnostic Procedure Market Size In The Coming Years?
The gastric cancer diagnostic procedure market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, the market for gastric cancer diagnostic procedures is anticipated to experience robust growth. The market is projected to expand to $2.07 billion by 2029, boasting a compound annual growth rate (CAGR) of 7.6%.
The surge in growth during the forecast period is largely due to the increase in point-of-care testing, the introduction of innovative biomarkers, a shift towards personalized medicine, the uptake of next-generation sequencing, and improvements in endoscopic imaging modalities. Key trends forecasted for this period include the incorporation of nanotechnology, the implementation of big data analytics, the use of microbiota analysis, an amplified focus on patient-centric approaches, and the impact of telehealth in diagnostics.
Which Key Drivers Are Propelling The Gastric Cancer Diagnostic Procedure Market's Growth?
The rise in gastrointestinal diseases is propelling the expansion of the gastric cancer diagnostic procedure market. These disorders are diseases that impact the various parts of the digestive system, as well as vital organs such as the liver and pancreas. Procedures for diagnosing gastric cancer, such as endoscopic and biopsy, are employed to treat stomach cancer. As a result, the rising occurrence of gastrointestinal diseases is spurring the growth of the gastric cancer diagnostic procedure market. For example, in a study published by the GI Associates & Endoscopy Center, a US-based gastroenterology service provider, in August 2022, out of 73,076 participants from 33 different countries, 40% were suffering from a functional gastrointestinal disease. Consequently, the escalating incidence of gastrointestinal diseases is fostering the expansion of the gastric cancer diagnostic procedure market.
What Are The Key Segments Within The Global Gastric Cancer Diagnostic Procedure Market?
The gastric cancer diagnostic procedure market covered in this report is segmented –
1) By Procedure Type: Endoscopic Procedure, Biopsy, Tissue Tests, Lab Tests, In-Vitro Diagnostic Tests, Imaging Tests, Molecular Diagnostics, Multiplexing Molecular Diagnostics, Immunoassays, Other Procedure Types
2) By Symptom Type: Symptomatic, Asymptomatic
3) By Offering Type: Instruments, Reagents And Consumables, Services
4) By Body Fluid Type: Blood, Urine, Saliva, Stomach Juice, Tissue, Other Body Fluid
5) By Disease Indication: Early Gastric Cancer, Advanced Gastric Cancer
Subsegments:
1) By Endoscopic Procedure: Upper Endoscopy (EGD), Endoscopic Ultrasound (EUS)
2) By Biopsy: Endoscopic Biopsy, Fine Needle Aspiration (FNA) Biopsy
3) By Tissue Tests: Histopathology, Immunohistochemistry
4) By Lab Tests: Blood Tests, Tumor Markers
5) By In-Vitro Diagnostic Tests: Genetic Testing, Molecular Profiling
6) By Imaging Tests: Computed Tomography (CT) Scan, Magnetic Resonance Imaging (MRI), Positron Emission Tomography (PET) Scan
7) By Molecular Diagnostics: PCR Testing, Next-Generation Sequencing (NGS)
8) By Multiplexing Molecular Diagnostics: Multiplex PCR, Microarray Analysis
9) By Immunoassays: Enzyme-Linked Immunosorbent Assay (ELISA), Radioimmunoassay (RIA)
10) By Other Procedure Types: Breath Tests, Liquid Biopsies
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How Are New Trends Impacting The Size Of The Gastric Cancer Diagnostic Procedure Market?
The gastric cancer diagnostic market is seeing a rise in popularity of the trend of technological advancements. To maintain their market positions, leading companies in this market are integrating innovative technologies. For example, Ibex Medical Analytics, a diagnostics provider for health organizations driven by artificial intelligence from Israel, introduced Galen Gastric in June 2022. This is recognized globally as the first gastric cancer detection solution powered by AI. Galen Gastric is a diagnostic instrument that aids pathologists in detecting stomach cancer and H. pylori, as well as other important clinical outcomes. Furthermore, it expedites the turnaround time and enhances diagnostic procedures.
Who Are the Key Players in the Gastric Cancer Diagnostic Procedure Market?
Major companies operating in the gastric cancer diagnostic procedure market include:
• Pfizer Inc.
• Johnson & Johnson Co
• F. Hoffmann La Roche Ltd.
• Merck & Co. Inc.
• Bayer AG
• Novartis AG
• Bristol-Myers Squibb Company
• Thermo Fisher Scientific Inc.
• AstraZeneca plc
• Abbott Laboratories Inc.
• Sanofi SA
• Eli Lilly and Company
• Otsuka Pharmaceutical Co Ltd.
• AdventHealth
• Atrium Health
• Astellas Pharma Inc
• Bausch Health Companies Inc.
• Agilent Technologies Inc.
• Ipsen Pharma
• Hartford HealthCare
• Myriad Genetics Inc.
• NovoCure Limited
• Foundation Medicine Inc.
• Biocept Inc.
What are the Regional Insights into the Gastric Cancer Diagnostic Procedure Market?
North America was the largest region in the gastric cancer diagnostics procedure market in 2024. The regions covered in the gastric cancer diagnostic procedure market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
