Lung Cancer Therapeutics Market to be Dominated by Treatment Segment Through 2028
Increasing demand for immunotherapy and targeted therapy
along with the rising incidence of Lung Cancers driving the growth of the Global Lung Cancer Therapeutics Market in the forecast period, 2024-2028.
According to the TechSci
Research report, “Lung Cancer Therapeutics
Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028”,
the global
lung cancer therapeutics market is projected to grow at an impressive rate in
the forecast period, 2024-2028. The factors responsible for the growth of the
market are the availability of highly effective drugs, a surge in the
prevalence of sedentary lifestyles, and a rising need for customized therapy.
Further, the rising demand for personalized medicines and immunotherapy is
fueling market expansion. In addition, regulatory approval of various medicines
and drugs in the lung cancer treatment market is anticipated to support the
growth of the market.
However, it is
anticipated that the main factors limiting the overall growth of the global lung
cancer therapeutics market size are the lack of effective treatment
alternatives, the wide accessibility of generic vital pharmaceuticals, and a
significant unmet evaluation demand. Further, radiotherapy and chemotherapy
treatments carry a high risk of side effects which is expected to limit market
expansion.
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data Figures spread through 110 Pages and an in-depth TOC on the "Global Lung Cancer Therapeutics Market.”
The global lung
cancer therapeutics market is segmented based on cancer cell type and treatment.
Based on cancer
cell type, the market is categorized into Non-small Cell Lung Cancer (NSCLC),
Small Cell Lung Cancer (SCLC). The non-small cell lung cancer segment dominated
the global lung cancer therapeutics market in 2022, owing to high prevalence of
non-small cell lung cancer globally. Further, increasing diagnostic procedures
and increasing investments by market players in non-small cell lung cancer
research are expected to support the growth of the market during the forecast period.
Based on treatment,
the market is divided into Chemotherapy, Radiation Therapy, Immunotherapy,
Targeted Therapy, and Other Treatments. The targeted therapy segment is
expected to hold the largest market share in the forecast period, 2024-2028.
Rising research and development have boosted the development of targeted
therapeutics to treat lung cancer. This factor is expected to boost the demand
for target therapies during the forecast period.
Major
companies operating in the global lung cancer therapeutics market are:
- AstraZeneca Plc
- Boehringer Ingelheim
International GmbH
- Bristol-Myers Squibb
Company
- Eli Lilly and
Company
- F. Hoffmann-La Roche AG.
- Merck & Co
- Pfizer Inc.
- Allergan Inc.
- Teva Pharmaceutical
Industries Ltd.
- Abbvie, Inc.
- Johnson &
Johnson
- Amgen Inc.
- Novartis AG
Recent Development
- The U.S. FDA
approved Tagrisso as the initial therapy for non-small cell lung cancer with
EGFR mutation in April 2018.
- Imfinzi's approval
was expanded by the U.S. FDA in February 2018 in an order to lower the risk of
NSCLC's progression.
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The
largest market share is held by North America. The increased use of advanced
lung cancer therapies as well as the rising incidence and number of lung cancer
diagnosis are projected to be the main drivers of growth in the region. Along
with the current therapies for cancer such as chemotherapy and targeted
therapy, the adoption of advanced immunotherapies is rising in developed
nations which are expected to drive the growth of the market during the
forecast period.
Europe
is estimated to be the potential segment of the lung cancer therapeutics market
during the forecast period 2024-2028. The factor responsible for the growth of
the market in the region is growing regulatory approvals and the adoption of
advanced therapeutics in the region. Besides, emerging countries of the Asia
Pacific such as India, China, and Japan are expected to fuel the growth of the
market owing to the increasing prevalence of lung cancer in the countries said
Mr. Karan Chechi, Research Director with TechSci Research, a research based
global management consulting firm.
“Lung Cancer Therapeutics Market-
Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028, Segmented By Cancer Cell Type (Non-small Cell Lung
Cancer (NSCLC), Small Cell Lung Cancer (SCLC), By Treatment (Chemotherapy,
Radiation Therapy, Immunotherapy, Targeted Therapy, Other Treatments), and By
Region,”
has evaluated the future growth potential of global lung cancer therapeutics market
and provides statistics & information on market size, structure, and future
market growth. the report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in the global lung cancer therapeutics market.”
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