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Gastric Cancer Diagnostic Procedure Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Healthcare Provider (Diagnostic Laboratories, Hospitals, Cancer Research Institutes, Oncology Specialty Clinics, and Others), Symptom Type (Symptomatic and Asymptomatic), Body Fluid (Blood, Urine, Saliva, Stomach Wash/Gastric Juice, Tissue, and Others), Procedure (Endoscopic Procedures, Biopsy & Tissue Tests, Lab Tests, In-Vitro Diagnostic Tests, Imaging Tests, Molecular Diagnostics, Multiplexing Molecular Diagnostics & Immunoassays, and Others), Offering [Instruments, Reagents & Consumables (Including Kits), and Services], and Disease Indication (Early Gastric Cancer and Gastric Cancer Advanced Types)
Market Report I 2023-02-28 I 398 Pages I The Insight Partners
The gastric cancer diagnostic procedure market is expected to grow from US$ 1307.96 million in 2022 to US$ 1912.03 million by 2028; it is estimated to grow at a CAGR of 6.5% from 2022 to 2028.
The presence of a huge patient population with gastrointestinal tumors, lymphoma, and adenocarcinoma, the increase in the geriatric population, and the rise in alcohol consumption and smoking are among the factors contributing to the growing gastric cancer diagnostic procedure market size. However, the shortage of medical laboratory professionals hinders the growth of the gastric cancer diagnostic procedures market.
Gastric cancer is a type of malignant cancer that forms the stomach's inner lining. Risk factors such as age, diet, and stomach diseases can lead to the development of gastric cancer. Symptoms of gastric cancer include indigestion, heartburn, bloating, and stomach discomfort or pain.
Many market players and research institutes operating in the gastric cancer diagnostics market are developing advanced products to expand their product portfolios and increase their market shares. They invest significant amounts in R&D to develop advanced products. A few of the recent developments related to gastric cancer diagnostic platforms are mentioned below:
Ibex Medical Analytics, a pioneer in AI-powered cancer diagnostics, developed the world's first artificial intelligence (AI) platform to detect cancer. Its AI algorithms analyze images of biopsies and can pinpoint their location and grade the tumor. These results help pathologists diagnose gastric cancer accurately. In June 2021, the U.S. Food and Drug Administration (FDA) granted Breakthrough Device Designation to Ibex's Galen platform, which will expedite the clinical review and regulatory approval of its platform. Galen Gastric is an integrated diagnostics and quality control solution that supports pathologists in the detection of gastric cancer, dysplasia, H. pylori, and other important clinical findings.
In November 2019, AI Medical Service Inc., one of the world's first real-time endoscopic AI developers, secured Breakthrough Device Designation by the US FDA for its AI programs that analyze endoscopy images for potential diagnosis of gastric cancer. In February 2022, Mayo Clinic researchers used AI and informatics to discover a 32-gene signature that is a prognostic and predictive biomarker for patients suffering from gastric cancer. The study was published in the edition of Nature Communications.Thus, such development of AI-based gastric cancer diagnostics are likely to introduce new trends in the gastric cancer diagnostic procedure market during the forecast period.
The COVID-19 pandemic altered economic conditions and social behaviors in countries. Containment measures enacted by governments to mitigate the spread of disease changed the pattern of healthcare service delivery in the US. According to the Department of Emergency Medicine, in many cities across the country, emergency department (ED) visits decreased by ~40% in 2020. Moreover, outpatient appointments and elective treatments were postponed or replaced by telemedicine practices.
In November 2021, Pfizer Inc. announced the investigational COVID-19 oral antiviral candidate, PAXLOVID. Based on an interim analysis of the Phase 2/3 Evaluation of Protease Inhibition for COVID-19 in high-risk patients (EPIC-HR) and a randomized, double-blind study of non-hospitalized adult patients with COVID-19, who were at a high risk of progressing to severe illness, it was observed that the PAXLOVID vaccine reportedly reduced hospitalization and death. There were supply constraints related to vaccine production in the initial months of 2021. However, setting up new plants and promoting technological shifts supported the production of booster doses in the US and Canada, along with their administration plans.
Furthermore, In March 2021, Eurofins' Clinical Enterprise, Inc. obtained an Emergency Use Authorization (EUA) from the US Food and Drug Administration (FDA) for a direct-to-consumer (DTC) version of its EmpowerDX COVID-19 Home Collection Kit. The Eurofins at-home COVID-19 nasal PCR kit is one of the first over-the-counter SARS-CoV-2 at-home test kits. Similarly, in March 2020, the US FDA issued Emergency Use Authorization (EUA) to Abbott for its fastest available molecular point-of-care test to detect novel coronavirus (COVID-19), which delivers positive results in approximately 5 minutes and negative results in around 13 minutes. Thus, the rise in product launches is supporting the gastric cancer diagnostic procedure market.
Healthcare Providers-Based Insights
Based on healthcare providers, the global gastric cancer diagnostic procedure market is segmented into diagnostic laboratories, hospitals, cancer research institutes, oncology specialty clinics, others. In 2022, the hospitals segment held the largest share of the market. The cancer research institutes segment is expected to grow at the fastest rate during the coming years.
Symptom Type-Based Insights
Based on symptom type, the gastric cancer diagnostic procedure market is bifurcated into symptomatic and asymptomatic. In 2022, the asymptomatic segment held a larger share of the market. Moreover, the symptomatic segment is estimated to grow at significant CAGR during the forecast period.
Body Fluid-Based Insights
The gastric cancer diagnostic procedure market, by body fluid, is segmented into blood, urine, saliva, stomach wash/gastric juice, tissue, and others. In 2022, the blood segment held the largest share of the market. Moreover, the tissue segment is expected to grow at the fastest rate during the coming years.
Procedures-Based Insights
The gastric cancer diagnostic procedure market, based on procedures, is segmented into endoscopic procedures, biopsy and tissue tests, lab tests, in-vitro diagnostic tests, imaging tests, molecular diagnostics, multiplexing molecular diagnostics and immunoassays, and others. In 2022, the imaging tests segment held the largest share of the market. The endoscopic segment is expected to grow at the fastest rate during the coming years.
A few of the major primary and secondary sources referred to while preparing the report on the gastric cancer diagnostic procedure market are the World Health Organization (WHO), the US Census Bureau, and the US National Library of Medicine, among others.
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