The global Gastrointestinal Stromal Tumor (GIST) Therapeutics Market is predicted to generate a market value of US$ 890 million in 2023 and a market value of US$ 1593 million by 2033, with a CAGR of 6% from 2023 to 2033. The increased prevalence of gastrointestinal stromal tumour (GIST) in the world’s ageing population can be ascribed to the growth of the gastrointestinal stromal tumour (GIST) therapies market. The market for gastrointestinal stromal tumour (GIST) therapies grew at a 3.5% CAGR from 2018 to 2022.
Advances in healthcare and a growing number of treatment options for various illnesses, including cancer, have led to a higher life expectancy worldwide. Increased awareness of life-threatening conditions is also contributing to this trend. China, India, and Brazil are some of the fastest-growing nations in terms of their elderly populations, and advances in healthcare are expected to further contribute to this growth. As a result, the market for GIST therapeutics is expected to grow during the forecast period.
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GIST therapeutics is expected to continue to grow in the coming years, driven by advances in research and development, increasing demand for effective treatments, and an aging patient population. Furthermore, North America and Asia Pacific are the two major regions contributing to the growth of the GIST therapeutics market owing to the increase in geriatric population across the regions.
Key Takeaways from the Market Study
- The Gastrointestinal stromal tumor (GIST) therapeutics market is expected to grow at a value of 6% CAGR in the forecast period 2023-2033.
- By end user, hospitals are expected to hold 45% of the market share in 2023 for Gastrointestinal stromal tumor (GIST) therapeutics market.
- North America is expected to possess 39% market share for Gastrointestinal stromal tumor (GIST) therapeutics market in 2023.
- Asia Pacific Gastrointestinal stromal tumor (GIST) therapeutics market size is expected to possess 31% market share in 2023.
“Technological advancements along with development of different therapeutics treatments is creating lucrative opportunities for GIST therapeutics market.” states an FMI analyst
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Competitive Landscape
- In August 2022, Taiho Pharmaceutical Co., Ltd. launched the oral heat shock protein (HSP) 90 inhibitor Jeselhy®tablets 40 mg (generic name: pimitespib) for GIST.
- Turning Point Therapeutics, Inc, another key player in the GIST therapeutics market is focusing on researching and developing medication and is undergoing clinical trials to get the same approved for patients.
Key Companies Profiled
- Arog Pharmaceuticals
- Taiho Pharmaceutical
- Turning Point Therapeutics, Inc.
- Cogent Biosciences, Inc.
- Plexxikon Inc.
- Theseus Pharmaceuticals
- Exelixis, Inc.
- Ipsen
- Bristol-Myers Squibb
- Takeda
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Key Segments Profiled in the Gastrointestinal Stromal Tumor (GIST) Therapeutics Industry Survey
Drug Type:
- Imatinib
- Ripretinib
- Crenolanib
- Regorafenib
- Avapritinib
- Sunitinib
- Entrectinib
- Larotrectinib
Therapy:
- Targeted therapy
- Chemotherapy
- Radiation therapy
End User:
- Hospitals
- Clinics
- Specialized Cancer Treatment Centres
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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