According to the latest report by IMARC Group, titled “Lung Cancer Therapeutics Market Report by Therapy (Targeted Therapy, Immunotherapy, Radiation Therapy, Chemotherapy), Cancer Type (Non-small Cell Lung Cancer (NSCLC), Small Cell Lung Cancer (SCLC)), Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies, and Others), and Region 2023-2028,” the global lung cancer therapeutics market size reached US$ 27,221.60 Million in 2022. Lung cancer therapeutics refers to the medical treatment options available for managing and treating lung cancer. These treatments aim to eliminate cancer cells, control their growth, and improve patients' quality of life. The therapeutic approaches can be broadly categorized into surgery, radiation therapy, chemotherapy, targeted therapy, and immunotherapy. Each treatment type is tailored to the specific stage and type of lung cancer, as well as the overall health of the patient. In recent years, numerous advancements in medical research have led to the development of newer, more effective drugs and techniques that target cancer cells more precisely, offering improved survival rates and reduced side effects.
Global Lung Cancer Therapeutics Market Trends:
The increasing prevalence of lung cancer across the globe due to excessive smoking, high exposure to pollutants, and unhealthy lifestyle choices represents the primary factor driving the market growth. Apart from this, numerous advancements in medical technology and research, including the development of novel therapies such as targeted therapy and immunotherapy that offer more personalized treatment options with fewer side effects, have accelerated the product adoption rate. Additionally, inflating healthcare expenditure and heightening awareness about the availability of advanced treatments are propelling market growth. Moreover, several favorable government initiatives and increasing funding for cancer research encouraging the development and quick approval of innovative lung cancer drugs have catalyzed market growth. Besides this, the expanding geriatric population that is more susceptible to cancer has augmented the demand for lung cancer therapeutics. Furthermore, the rising focus on healthcare amid the coronavirus (COVID-19) pandemic and accelerated telemedicine adoption for cancer care that indirectly promotes the use of advanced therapeutics is contributing to market growth. Looking forward, the market value is projected to reach US$ 50,233.00 Million by 2028, expanding at a CAGR of 10.90% during 2023-2028.
- Based on the therapy, the market has been divided into targeted therapy (bevacizumab, dabrafenib/trametinib, erlotinib hydrochloride, osimertinib and others); immunotherapy (durvalumab, nivolumab, atezolizumab and pembrolizumab); radiation therapy (external beam, internal beam and systemic); and chemotherapy. At present, targeted therapy represents the largest segment.
- On the basis of the cancer type, the market has been bifurcated into non-small cell lung cancer (NSCLC) and small cell lung cancer (SCLC), wherein non-small cell lung cancer (NSCLC) dominates the market.
- The market has been segregated based on the distribution channel into hospital pharmacies, retail pharmacies, online pharmacies, and others. Amongst these, hospital pharmacies account for the majority of the market share.
- Region-wise, the market has been segmented into North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. Amongst these, North America holds the leading position in the market.
- The competitive landscape of the market has also been examined, with some of the key players being AbbVie Inc., Amgen Inc., AstraZeneca Plc, Boehringer Ingelheim International GmbH, Bristol-Myers Squibb Company, Daiichi Sankyo Company Limited, Eli Lilly and Company, GSK PLC, Merck & Co. Inc., Novartis AG, Pfizer Inc., Roche Holding AG, and Takeda Pharmaceutical Company Limited.
|Base Year of the Analysis
|Scope of the Report
||Exploration of Historical and Forecast Trends, Industry Catalysts and Challenges, Segment-Wise Historical and Predictive Market Assessment:
- Cancer Type
- Distribution Channel
- Targeted Therapy: Bevacizumab, Dabrafenib/Trametinib, Erlotinib Hydrochloride, Osimertinib, Others
- Immunotherapy: Durvalumab, Nivolumab, Atezolizumab, Pembrolizumab
- Radiation Therapy: External Beam, Internal Beam, Systemic
|Cancer Types Covered
||Non-small Cell Lung Cancer (NSCLC), Small Cell Lung Cancer (SCLC)
|Distribution Channels Covered
||Hospital Pharmacies, Retail Pharmacies, Online Pharmacies, Others
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||AbbVie Inc., Amgen Inc., AstraZeneca Plc, Boehringer Ingelheim International GmbH, Bristol-Myers Squibb Company, Daiichi Sankyo Company Limited, Eli Lilly and Company, GSK PLC, Merck & Co. Inc., Novartis AG, Pfizer Inc., Roche Holding AG, Takeda Pharmaceutical Company Limited, etc.
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