Enjoy complimentary customisation on priority with our Enterprise License!
The lung cancer therapeutics market size is forecast to increase by USD 10.53 billion, at a CAGR of 7.69% between 2023 and 2028. The market is significantly influenced by the widespread utilization of immunomodulators, a pronounced prevalence of such cases, and a rising number of patient assistance initiatives. Immunomodulators play a pivotal role in therapeutic interventions, contributing substantially to treatment outcomes across various medical conditions. Meanwhile, the persistent prevalence of lung cancer underscores the urgent need for effective interventions and treatments within the healthcare landscape. Additionally, the burgeoning implementation of patient assistance programs reflects a concerted effort to improve access to healthcare services and alleviate financial burdens on patients. This triad of factors collectively shapes the dynamics of the market, driving innovation, research, and investment in the development of novel therapies and supportive care services. As such, understanding and addressing these factors remain paramount for stakeholders aiming to navigate and capitalize on opportunities within this dynamic healthcare sector. It also includes an in-depth analysis of market trends and analysis, market growth analysis and challenges. Furthermore, the report includes historic market data from 2018 - 2022.
To learn more about this report, View Report Sample
In the market, key drivers include advancements in medical diagnostic equipment and increased awareness regarding cancer, particularly lung cancer. Targeted therapies and precision medicine are emerging trends, enabling more effective treatment options. However, challenges such as unhealthy lifestyles and the complexity of cancer genetics persist, necessitating ongoing R&D initiatives. Therapy types range from traditional chemotherapy to innovative molecule-based treatments. As the demand for effective lung cancer therapeutics grows, overcoming barriers related to the abnormal growth of cells and the intricate nature of lung tissues remains crucial for improving patient outcomes and reducing mortality rates. Our researchers analyzed the market research and growth data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The strong prevalence of lung cancer is notably driving market growth. Lung cancer is one of the most common cancer types. The new cases of cancer, especially lung cancer, have increased significantly in recent years, owing to factors such as the growth of the geriatric population and lifestyle changes. The risk of a person developing lung cancer is approximately 6.2% of the overall population in the US. Despite the reduction in the mortality rate in recent years, the mortality rate of lung cancer is still significantly high, which creates an opportunity for companies in the market.
Further, the increasing need for treatments, along with the advances in therapeutics such as immunotherapy and chemotherapy, is leading to more patients undergoing treatments using therapeutics. Moreover, the pipeline witnesses the strong presence of advanced therapeutics, and the proven efficacy of these therapeutics is leading to their quick approval in the clinical stages. Owing to the strong incidence rate of the disease and the increasing drug approvals, the market is expected to grow during the forecast period.
Increasing strategic alliances is the key trend in the market. The market has witnessed a significant increase in the number of strategic alliances for the development and commercialization of drugs for the treatment of both NSCLC and SCLC.
In February 2019, GlaxoSmithKline Plc. and Merck and Co. Inc collaborated to codevelop and co-commercialize M7824, a bifunctional fusion protein immunotherapy, for the treatment of NSCLC. The increasing number of strategic alliances between the companies is expected to result in the launch of advanced therapies, thereby driving the growth of the market during the forecast period.
Adherence to available alternatives is the major challenge impeding market growth. Surgery and radiation therapy are the most-preferred treatment options for patients with NSCLC during the early stages. Therapeutics are not highly effective during the early stages of the disease. The need for the long-term use of therapeutics is another reason for the strong preference for surgeries and radiation therapy during the early stages. Factors such as technological advances in radiation therapy are also posing a threat to the growth of the market.
For instance, the CyberKnife software allows doctors to destroy tumours with heavy doses of radiation in about four radiation therapy sessions. Another factor that poses a threat to the growth of the market is advances in diagnostic methods for the detection. These advances are leading to the early detection of lung cancer and resulting in the increasing use of surgeries and radiation therapy for the treatment of the disease. Thus, increasing patient adherence to the available alternatives is expected to limit the growth of the market during the forecast period.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth and forecasting strategies.
Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
In the landscape of Lung Cancer Therapeutics, advancements in precision medicine and targeted therapies offer hope in combating both non-small cell lung cancer (NSCLC) and small cell lung cancer (SCLC). With a focus on understanding genes and the molecular mechanisms driving cancer progression, R&D initiatives drive innovation in treatment type, spanning drug class and therapy types. Despite progress, challenges persist, exacerbated by unhealthy lifestyles and limited cancer awareness. Medical diagnostic equipment plays a crucial role in early detection, crucial for improving patient outcomes and reducing deaths. As research continues to unravel the complexities of lung cancer, the market for lung cancer therapeutics evolves, emphasizing personalized approaches to combat the abnormal growth of cells within the lungs and the broader blood and lymph system.
The market share growth of the targeted therapy segment will be significant during the forecast period. The targeted therapy segment includes drugs that target tumor blood vessel growth (CYRAMZA) and cells with EGFR gene mutations. The growth of the segment can be attributed to the recent approval of new drugs for the treatment of lung cancer. For instance, in April 2020, Takeda Pharmaceutical Co. Ltd. received the breakthrough therapy designation (BTD) for Mobocertinib (TAK-788) from the US FDA for the treatment of NSCLC patients with EGFR Exon 20 Insertion Mutations.
Get a glance at the market contribution of various segments View the PDF Sample
The targeted therapy segment was valued at USD 9.39 billion in 2018. Market growth was driven by the strong drug pipeline that targeted first-line treatments for patients with lung cancer. Many other immune checkpoints inhibitors such as cemiplimab and tislelizumab and combination therapies such as ipilimumab with tremelimumab are expected to get approval during the forecast period.
For more insights on the market share of various regions Download PDF Sample now!
North America is estimated to contribute 46% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. North America accounts for the largest revenue share of the global market. This is primarily due to the high sales of approved therapeutics and the increasing prevalence of NSCLC and SCLC in the region. According to the National Institutes of Health (NIH), despite the decrease in the incidence rate of lung cancer in the US, the overall prevalence of the disease has increased significantly in recent years.
However, the incidence rate and the mortality rate of the disease are still very high. They are expected to be key factors that will drive the growth of the market in the region during the forecast period. Further, advances in research on drugs in clinical trial stages are expected to result in significant growth of the market in the region during the forecast period. The presence of an advanced healthcare system and the increasing number of patient assistance programs by various large pharmaceutical companies will also support the growth of the market.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2023 to 2027, as well as historical data from 2017 to 2021 for the following segments
In the realm of Lung Cancer Therapeutics, the landscape is shaped by various factors, including the prevalence of tobacco use and smoking, which contribute to a high incidence rate. The demand for targeted therapies is driven by advancements in medicine, with drugs like Avastin, Tarceva, Taxotere, and Gemzar offering hope for improved outcomes. However, challenges persist, including the adverse effects of chemotherapies and the presence of restraints such as side effects and stringent regulations. Rising pollution levels further exacerbate the situation, increasing the burden of lung cancer alongside other health issues like heart disease and strokes. Despite these challenges, ongoing research, supported by organizations like the National Center for Biotechnology Information and the American Cancer Society, continues to drive progress in the field, emphasizing the importance of early detection and personalized treatments tailored to individual patients' needs.
In addition, the market is profoundly impacted by various factors, including findings from the Global Burden of Disease Study, highlighting the significant health burden posed by lung cancer. Second-hand smoke exposure remains a concern, underscoring the importance of preventive measures. The availability of highly efficient drugs like those developed by AdoRx Therapeutics represents a beacon of hope in combating this disease.
However, challenges persist, including lower respiratory infections, diabetes, and chronic obstructive pulmonary disease, all of which contribute to the complexity of treatment. The emergence of nanomedicine and the exploration of biomarkers offer promising avenues for innovation, though regulatory approval from the Food and Drug Administration remains critical. Addressing gaps in cancer diagnostic facilities is essential for timely intervention and effective treatment strategies tailored to the unique needs of patients with lung cancer.
Market Scope |
|
Report Coverage |
Details |
Page number |
171 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 7.69% |
Market Growth 2024-2028 |
USD 10.53 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
6.99 |
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
Performing market contribution |
North America at 46% |
Key countries |
US, UK, Canada, China, and France |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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 dynamics |
Parent market analysis, Market forecast, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Therapy
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
Get lifetime access to our
Technavio Insights
Quick Report Overview:
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.