Number of pages: 100 | Report Format: PDF | Published date: 26 August, 2022
Historical Years – 2020 | Base Year – 2021 | Forecasted Years – 2022-2030
The global lung cancer therapeutics market was pegged at US$ 9.9 billion in 2021 and is expected to witness a CAGR of 10.70 % during the forecast period.
Lung cancer or bronchogenic carcinoma is a malignant tumor inside the lungs which starts from the lungs and can spread into lymph nodes and other vital organs in the body such as brain upon malignancy. Majority of lung cancer cases arise due to long term tobacco smoking, but cases may occur in people who never smoked. This condition may occur due to combination of genetic factors and exposure to harmful gases and substances such as radon gas and asbestos. Mostly lung cancer is diagnosed in people with aged 65 or older. Lung cancer has three primary stages. Stage 1 of the disease only affects the tissues of the lungs; stage 2 includes the cancer spread into the nearby lymph nodes. Stage 3 cancer has spread to the center of the chest and lymph nodes.
The factors contributing to the lung cancer market growth are increased impact of lifestyle, increased trends of smoking, growing awareness on novel therapeutics and rising funding for research and development for advanced drugs. However, high expenditures on therapeutics can restrict the growth of the global lung cancer therapeutics market.
the global lung cancer therapeutics market. has been analyzed from three perspectives: disease type, treatment type and region.
Global Lung Cancer Therapeutics Market by Disease Type
According to the disease types, the global lung cancer therapeutics market has been grouped into small cell lung cancer (SCLC) and non-small cell lung cancer (NSCLC). Mostly, non-small cell lung cancer currently occupies the largest patient pool. The proliferation time for non- small cell lung cancer is quite slow as compared to small cell lung cancer, but it often spreads in other parts of body. According to American Lung Association, non-small cell lung cancer makes about 80% of all lung cancer cases. Numerous gene mutations, such as those in the TP53 and KRAS genes that affect the epidermal growth factor receptor, can also cause patients to develop non-small cell lung cancer. 50% of non-small cell lung cancer patients had a TP53 gene mutation. Smokers are more likely to have the KRAS gene mutation, which accounts for 30% of all NSCLC cases. The survival rate is often low because small cell lung cancer is an extremely aggressive kind of cancer that frequently stays untreated until it is further advanced. The likelihood of a full recovery, however, is significantly better if the disease is discovered in its early stages.
Global Lung Cancer Therapeutics Market by Treatment Type
According to treatment type the global lung cancer therapeutics market is segmented into chemotherapy, immunotherapy, and targeted therapy. The targeted therapy segment has dominated the global lung cancer therapeutics market. The factors attributed to the dominance of this segment are, targeted therapy can mark carcinomas, so it is easier for nervous system to locate them and destroy. Targeted therapies can also boost immune system to work better against the condition. Also, targeted therapy is less toxic to healthy cells. In addition, numerous studies demonstrated that targeted treatments are more effective, and specific, they have accurate biomarkers of response, and it results in substantially greater response rates.
Global Lung Cancer Therapeutics Market by Region
The global lung cancer therapeutics market is studied in four major regions North America, Europe, Asia Pacific, and the Rest of the world. North America is expected to continue to dominate the global lung cancer therapeutics market. The growth in North America market is supported by factors such as increased population of smokers, increase in the adoption of drugs, high investments in R&D by key market supporters. The presence of favorable reimbursement is also going to increase the market growth in this region. Many financial assistance programs are eligible to provide health insurances and include coverage for drugs. Persistent assistance programs provide free or low-cost medicines. For instance, Single Care has partnered with pharmacies nationwide to deal with the discounts and pricing of drugs. Also, some government programs such as Medicaid which is a health coverage program for low-income people the funding is provided by federal government. The European market for lung cancer therapeutics is characterized by increased demand for targeted therapy, and high approvals of drugs for lung cancer. Furthermore, increased trends of smoking in population can also increase the market growth. Adult smoking prevalence is the highest in Europe, where 29% of the population smokes.
Some prominent players operating in lung cancer therapeutics market are Bristol-Myers Squibb Company, F. Hoffman-La Roche Ltd., Pfizer Inc., Eli Lilly and Company, Johnson & Johnson Services Inc., Amgen Inc., AstraZeneca plc., Teva Pharmaceutical Industries Ltd., AbbVie Inc., Novartis AG, Merck & Co., Inc., and GSK plc. among others.