NEW YORK, May 27, 2024 /PRNewswire/ — The global lung cancer therapeutics market size is estimated to grow by USD 10.52 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 7.69% during the forecast period.
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Technavio has announced its latest market research report titled Global lung cancer therapeutics market 2024-2028
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Lung Cancer Therapeutics Market Scope |
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Report Coverage |
Details |
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Base year |
2023 |
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Historic period |
2018 – 2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 7.69% |
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Market growth 2024-2028 |
USD 10527.7 million |
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Market structure |
Fragmented |
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YoY growth 2022-2023 (%) |
6.99 |
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Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
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Performing market contribution |
North America at 46% |
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Key countries |
US, UK, Canada, China, and France |
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Key companies profiled |
AbbVie Inc., Amgen Inc., Astellas Pharma Inc., AstraZeneca Plc, Boehringer Ingelheim International GmbH, Bristol Myers Squibb Co., Daiichi Sankyo Co. Ltd., Eli Lilly and Co., F. Hoffmann La Roche Ltd., Galecto Inc., GlaxoSmithKline Plc, IOVANCE Biotherapeutics Inc., Johnson and Johnson Services Inc., Merck and Co. Inc., Moderna Inc., Novartis AG, Parexel International Corp., Pfizer Inc., Sanofi SA, and Takeda Pharmaceutical Co. Ltd. |
Market Driver
The lung cancer therapeutics market is evolving, driven by technological advancements to provide more sophisticated treatment options for NSCLC and SCLC. Currently, chemotherapy, immunomodulators, and biological drugs are the primary treatments. Targeted therapies, such as immunomodulators, are effective but do not guarantee a cure. To address the rising lung cancer prevalence, research is ongoing to develop regenerative therapies, including gene therapies.
Targeted agents focus on specific genetic abnormalities causing NSCLC. Key areas include nanomedicine, advanced therapeutics, and precision medicine. Lung cancer is linked to heart disease, strokes, lower respiratory infections, diabetes, and unhealthy lifestyles, including tobacco use and second-hand smoke.
Stringent regulations govern the market, with companies like Astellas focusing on drug classes and genes. Biomarkers, radiation therapy, chemotherapy, surgery, and targeted therapy are common treatment types. High incidence rates and rising pollution levels further emphasize the need for new, effective therapies.
Market Challenges
Lung cancer is primarily treated through surgeries and radiation therapy during its early stages due to limited therapeutic effectiveness and high long-term costs. Early-stage NSCLC often does not metastasize, making surgical procedures highly effective. VATS is a less-invasive surgery used for early-stage NSCLC treatment. Lung cancer is linked to heart disease, strokes, lower respiratory infections, diabetes, and unhealthy lifestyles, including tobacco use and smoking.
Advanced therapeutics, such as targeted therapies and immunotherapies, and nanomedicine are emerging treatment options. Strict regulations govern the use of drugs like AdoRx Therapeutics, Avastin, Tarceva, Taxotere, and Gemzar. Cancer awareness campaigns aim to reduce deaths from lung cancer, which has a high incidence rate and is influenced by rising pollution levels.
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Segment Overview
Therapy
1.1 Targeted therapy
1.2 Immunotherapy
1.3 Chemotherapy
Type
2.1 NSCLC
2.2 SCLC
Geography
3.1 North America
3.2 Europe
3.3 Asia
3.4 Rest of World (ROW)
1.1 Targeted therapy- The lung cancer therapeutics market is segmented based on therapy types, including targeted therapies, which focus on specific genes and mutations associated with the disease. These therapies include those that target tumor blood vessel growth, such as CYRAMZA, and those that address mutations in the EGFR gene, like Tarceva, Gilotrif, IRESSA, TAGRISSO, and VIZIMPRO. Additionally, therapies for T790M mutations, ALK gene changes, and BRAF gene changes are gaining prominence.
The segment’s growth is driven by the increasing prevalence of chronic diseases like heart disease, strokes, lower respiratory infections, and diabetes, which are risk factors for lung cancer. Side effects, nanomedicine, and advanced therapeutics are key areas of research and development initiatives. Lung cancer, responsible for a significant number of deaths, is caused by unhealthy lifestyles, tobacco use, and smoking, as well as second-hand smoke.
Stringent regulations ensure the safety and efficacy of drugs, with companies like Astellas and AdoRx Therapeutics developing new therapies. Biomarkers and radiation therapy, chemotherapy, surgery, immunotherapy, and targeted therapy are among the treatment options. The high incidence rate and rising pollution levels further fuel market growth.
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Research Analysis
The Lung Cancer Therapeutics Market encompasses various treatment modalities, including Radiation Therapy, Chemotherapy, Surgery, Targeted Therapy, and Immunotherapy. Unhealthy lifestyles are a significant contributor to the rising incidences of Lung Cancer, necessitating increased Cancer Awareness. Lung Cancer therapeutics span across different Drug Classes, such as Tyrosine Kinase Inhibitors, Monoclonal Antibodies, and Chemotherapeutic Agents.
Precision Medicine and RD initiatives play a pivotal role in the development of novel Lung Cancer therapeutics. Targeted therapies, specifically those focusing on Genes associated with Lung Carcinoid Tumors, are a promising area of research in the Lung Cancer Therapeutic landscape.
Market Research Overview
The Radiatology and Chemotherapy therapies play a significant role in the treatment of Lung Cancer. Surgery is also an essential therapeutic approach, especially for early-stage diagnoses. Smoking is a major risk factor for developing lung cancer, and cancer cells require energy to grow and spread, making metabolic targets an attractive area for therapeutic intervention.
The use of targeted therapies, such as those that inhibit specific proteins or pathways, is becoming increasingly common. The market for Lung Cancer Therapeutics is vast and diverse, encompassing various types of treatments, including radiotherapy, chemotherapy, targeted therapies, and surgery. The demand for these therapies is driven by the increasing incidence and prevalence of lung cancer worldwide.
The market is expected to grow significantly due to the ongoing research and development efforts in this field. The use of advanced technologies, such as Artificial Intelligence and Machine Learning, is also transforming the landscape of Lung Cancer Therapeutics. The long-term success of these therapies depends on their ability to improve patient outcomes and quality of life while minimizing side effects.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
Therapy
Targeted Therapy
Immunotherapy
Chemotherapy
Type
NSCLC
SCLC
Geography
North America
Europe
Asia
Rest Of World (ROW)
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE Technavio