Cancer is a genetic disease that occurs due to abnormal cell growth. Lung cancer is the common cause of cancer death globally. Persistent Cough, Shortness of Breath, Body Pain, Repeated Respiratory Infections, Fatigue, Blood Clots, and Sudden Weight Loss are some of the symptoms of lung cancer.
The global lung cancer therapeutics market size in 2021 was USD 28.56 billion and will reach USD 60.72 billion by 2030, growing at an 8.74% CAGR between 2021 and 2030.
Lung cancer is caused by asbestos exposure, tobacco use, pipe smoking, and cigar smoking. Lung cancer can be diagnosed through bronchoscopy-based biopsy and can be treated through surgery, chemotherapy, radiotherapy, and immunotherapy.
Market Dynamics
Drivers
Some factors contributing to the rising prevalence of lung cancer include increased funding for drug research and development, increased pollution due to rapid industrialization, and an increase in smokers. Lung cancer is the second-most prominent cancer in men and women, as per the American Cancer Society 2022. Nearly 25% of all cancer deaths are caused by lung cancer, which is by far the most common cancer between both men and women. In addition, while the condition continues to be the main reason for cancer-related deaths in women and men, the national survival rate has risen by 14.5% over the past five years, as per the American Lung Association’s 2021 report. Thus, the market has been growing due to all these factors.
The United States Food & Drug Administration approved Janssen Pharmaceutical Companies’ Rybrevant in May 2021 as the first therapy for adult patients suffering from non-small cell lung cancer. Such product approvals contribute to expanding the examined market over the anticipated time frame.
However, the market growth has been constrained by the adverse effects of drug therapies and the increased price of the therapies.
Market Segmentation
Therapy Insights
Based on therapy, the targeted therapy was the market leader in 2021, accounting for more than 50% of the total market share. Patients with lung cancer are increasingly turning to targeted therapy. Advanced targeted therapeutics for lung cancer treatment have been developed due to the biopharmaceutical industry’s rapid expansion and rising R&D costs. The targeted therapy can effectively treat cancer cells unaffected by the body’s healthy cells. Targeted therapy has expanded significantly worldwide due to rising healthcare costs and increased awareness of cutting-edge gene therapies that can treat previously considered incurable diseases.
Type Insights
On the basis of type, the lung cancer therapeutics market is segment into lung carcinoid tumor, small cell, and non small cell lung cancer. The market for lung cancers therapeutics worldwide was occupied by non-small cell lung cancers in 2021. The increased incidence of non-small cell lung cancer in the population is primarily responsible for this growth.
Distribution Channel Insights
Hospital pharmacies held the majority of the market in 2021. Sales of lung cancers therapeutics from hospital pharmacies worldwide have increased significantly due to the rising number of patients admitted in hospitals for cancers diagnosis and treatment. The increased preference among consumers to purchase medications from hospital pharmacies because of the availability of various medications has also contributed to this segment’s supremacy.
Regional Insights
North America was the major regional market contributor in 2021. The rising desire for lung cancers therapeutics in this region results from the rising prevalence of lung cancers. And the expanding use of highly sophisticated diagnosis & lung cancers therapeutics for the treatment of lung cancers. The existence of several top biopharmaceutical companies in this area has greatly aided the development. And expansion of the lung cancers therapeutics market.
Key Players
- Bristol-Myers Squibb Company
- Eli Lilly and Company
- AstraZeneca
- Boehringer Ingelheim
- Novartis AG
- Merck
- PharmaMar SA
The global lung cancers therapeutics market size in 2021 was USD 28.56 billion. And will reach USD 60.72 billion by 2030, growing at an 8.74% CAGR between 2021 and 2030. The lung cancers therapeutics market is stimulate by increased lung cancers diagnoses due to more cancers awareness in both developed. And developing economies and the launch of new medical diagnostic tools and improved therapies.
The non little cell cellular breakdown in the lungs market development is significantly determined by expansion in pace of tobacco utilization more by youthful gathering, serious air contamination, and undesirable way of life. Openness to air holding back hints of metals like asbestos, arsenic, and others, are significant reasons of adenocarcinoma. Accordingly, expansion in number of individuals smoking and following unfortunate way of life are a portion of the central point causing NSCLC. Likewise, among all cellular breakdown in the lungs cases, greater part of patients are experiencing non-little cell cellular breakdown in the lungs. For example, as indicated by Public Community for Biotechnology Data (NCBI), 85% of cases are non-little cell cellular breakdown in the lungs cases. Moreover, expansion in innovative work exercises by central members, for example, Roche and Eli Lilly moves the development of the market.
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