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The global lung cancer therapeutics market size is estimated to increase by USD 10,204.33 million growing at a CAGR of 7.92% between 2022 and 2027. The growth of the market depends on several factors, including the strong prevalence of lung cancer, the heavy contribution of immunomodulatory, and an increasing number of patient assistance programs. The global lung cancer therapeutics market has multiple approved drugs available for the treatment of NSCLC and six approved therapies for SCLC. The market witnesses the presence of many pharmaceutical giants, including Novartis AG, Pfizer Inc., AstraZeneca Plc, F. Hoffmann La Roche Ltd, and Merck and Co., Inc. These large pharmaceutical vendors are currently competing to become the market leader as these vendors account for approximately 60% of the market revenue.
This market report extensively covers market segmentation by therapy (targeted therapy, immunotherapy, and chemotherapy), type (NSCLC and SCLC), and geography (North America, Europe, Asia, and Rest of World (ROW)). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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The strong prevalence of lung cancer is driving market growth, although factors such as adherence to available alternatives may impede market growth. Our researchers analyzed the data with 2022 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 vendors in the market.
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 lung cancer therapeutics 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 vendors 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 of lung cancer. 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 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 growth strategies.
Global Lung Cancer Therapeutics Market Customer Landscape
Vendors 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.
F. Hoffmann La Roche Ltd. - The company offers lung cancer therapeutics, namely Libtayo, under the therapeutics segment as its key offerings. Through the pharmaceuticals segment, the company manufactures essential drugs for serious diseases like cancer and others like viral infections, metabolic and central nervous system disorders, and inflammatory diseases. Through the medical device segment, the company manufactures equipment and reagents for research and medical diagnostic applications.
The global lung cancer therapeutics market report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors 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 vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
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.
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The targeted therapy segment was valued at USD 9,077.05 million in 2017 and continued to grow until 2021. 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.
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North America is projected to hold a 47% share of the market by 2023. 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.
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 vendors will also support the growth of the market.
The outbreak of COVID-19 has adversely affected the US in the region. However, the outbreak in 2020 prompted vendors to come up with new business strategies to deal with the impact. They are implementing various strategies such as new product launches, M&A, and collaborations to enhance the growth of the market. For instance, in May 2020, Novartis AG launched Tabrecta, which was approved by US FDA. Tabrecta is the first and only therapy for specifically targeting metastatic NSCLC with a mutation that leads to MET exon14 (METex14), as detected by an FDA-approved test. The market in North America is expected to witness an accelerating growth momentum during the forecast period owing to all these factors.
The global lung cancer therapeutics market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. The market has been segmented by therapy, type, and region.
The reports categorize the global lung cancer therapeutics market as a part of the global pharmaceuticals market. The global pharmaceuticals market, the parent market, covers products and companies engaged in the R&D or production of generic drugs, non-generic drugs, and veterinary drugs. Our research report has extensively covered external factors influencing the parent market growth during the forecast period.
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Lung Cancer Therapeutics Market Scope |
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Report Coverage |
Details |
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Page number |
164 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 7.92% |
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Market growth 2023-2027 |
USD 10,204.33 million |
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Market structure |
Concentrated |
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YoY growth (%) |
6.7 |
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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 47% |
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Key countries |
US, Canada, UK, France, and China |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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Key companies profiled |
AbbVie Inc., Amgen Inc., Astellas Pharma Inc., AstraZeneca Plc, Bristol Myers Squibb Co., Daiichi Sankyo Co. Ltd., Eli Lilly and Co., Galecto Inc., GlaxoSmithKline Plc, IOVANCE Biotherapeutics Inc., Johnson and Johnson, Merck and Co. Inc., Moderna Inc., Novartis AG, Parexel International Corp., Pfizer Inc., Sanofi SA, Takeda Pharmaceutical Co. Ltd., F. Hoffmann La Roche Ltd., and Boehringer Ingelheim International GmbH |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period. |
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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. |
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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 Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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