Global Lung Cancer Therapeutics Market to Reach US$ 70,084.5 Million by 2032, Propelled by Rising Prevalence of Lung Cancer

September 25, 2023 | Healthcare

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 2024-2032,” the global lung cancer therapeutics market size reached US$ 30,188.8 Million in 2023. 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$ 70,084.5 Million by 2032, expanding at a CAGR of 9.52% during 2024-2032.

Market Summary:

  • 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.

Report Scope:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Million
Scope of the Report Exploration of Historical and Forecast Trends, Industry Catalysts and Challenges, Segment-Wise Historical and Predictive Market Assessment:
  • Therapy
  • Cancer Type
  • Distribution Channel
  • Region 
Therapies Covered
  • Targeted Therapy: Bevacizumab, Dabrafenib/Trametinib, Erlotinib Hydrochloride, Osimertinib, Others
  • Immunotherapy: Durvalumab, Nivolumab, Atezolizumab, Pembrolizumab 
  • Radiation Therapy: External Beam, Internal Beam, Systemic
  • Chemotherapy 
Cancer Types Covered Non-small Cell Lung Cancer (NSCLC), Small Cell Lung Cancer (SCLC)
Distribution Channels Covered Hospital Pharmacies, Retail Pharmacies, Online Pharmacies, Others
Regions Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered 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.
Customization Scope 10% Free Customization
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Global Lung Cancer Therapeutics Market to Reach US$ 70,084.5 Million by 2032, Propelled by Rising Prevalence of Lung Cancer
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