Westford USA, July 05, 2023 (GLOBE NEWSWIRE) -- According to SkyQuest, the global lung cancer therapeutics market is projected to experience a substantial growth rate due to the increasing number of individuals affected by lung cancer. Despite advancements in treatment and diagnostics, there remains a significant unmet need, particularly for patients in the advanced stages of the disease. This demands effective therapies and diagnostic tools to improve patient outcomes.
Browse in-depth TOC on the "Lung Cancer Therapeutics Market"
- Pages - 242
- Tables - 122
- Figures – 77
The small molecules category holds dominance in the lung cancer therapeutics market. This is primarily due to the increasing preference for monotherapy among specialists in treating lung cancer. Small molecules are compounds with a low molecular weight that are easier to absorb and dissolve in formulations, making them highly advantageous in developing medications for treating lung cancer.
Report Scope & Segmentation:
| Attributes | Details |
| Market Size in 2022 | USD 27235.74 Million |
| 2030 Value Projection | USD 66407.15 Million |
| CAGR | 10.41% |
| Forecast Period | 2023-2030 |
| Segments Covered |
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| Regions Covered |
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Prominent Players in the Lung Cancer Therapeutics Market
- AstraZeneca plc
- F. Hoffmann-La Roche AG
- Bristol-Myers Squibb Company
- Merck & Co., Inc.
- Pfizer Inc.
- Novartis International AG
- Eli Lilly and Company
- Boehringer Ingelheim International GmbH
- Takeda Pharmaceutical Company Limited
- AbbVie Inc.
- Sanofi S.A.
- Astellas Pharma Inc.
- Celgene Corporation
- Eisai Co., Ltd.
- Johnson & Johnson
- Bayer AG
- AbbVie Inc.
- GlaxoSmithKline plc
- Amgen Inc.
- Spectrum Pharmaceuticals, Inc.
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Non-Small Cell Lung Cancer Segment is Expected to Grow in the Market Due to the Rising Prevalence of Lung Cancer
The non-small cell lung cancer (NSCLC) category holds the largest lung cancer therapeutics market. NSCLC is the most prevalent type of lung cancer, accounting for approximately 85% of all lung cancer cases. This category includes several subtypes, such as adenocarcinoma, squamous cell carcinoma, and large cell carcinoma.
The markets in North America exhibited dominance in the lung cancer therapeutics market, accounting for a significant share of 39.17% in terms of market revenue. Several factors contribute to the growth of the market in this region. North America has a substantial share of the geriatric population, which is more prone to developing lung cancer.
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Immunotherapy Segment is Expected to Dominate the Market Due to the Increasing Introduction of New Immunotherapy Products
The immunotherapy segment of the lung cancer therapeutics market is anticipated to experience a faster CAGR. This can be attributed to the increasing introduction of new immunotherapy products, particularly in lung cancer treatment. Immunotherapy has shown promising results in efficacy and improved patient outcomes, leading to widespread adoption in developed countries.
Regional markets in the Asia-Pacific are expected to exhibit a higher growth rate in the lung cancer therapeutics market during the forecast period from 2023 to 2030. The region is witnessing significant investments in chemotherapies and radiology therapeutics, which are contributing to market expansion.
A comprehensive analysis of the major players in the lung cancer therapeutics market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavours to develop innovative solutions to cater to the growing demand.
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Key Developments in the Lung Cancer Therapeutics Market
- AstraZeneca, PATH, and Qure.ai recently joined forces in a collaborative effort to enhance lung health in low- and middle-income countries. These three organizations have come together to develop a framework that leverages advanced artificial intelligence (AI) technologies for the early detection of lung cancer in individuals undergoing chest screening for tuberculosis. By harnessing cutting-edge AI algorithms, this partnership aims to improve the accuracy and efficiency of lung cancer detection, ultimately leading to timely interventions and improved patient outcomes.
- Duke University recently announced its partnership with Known Medicine, a rapidly expanding biotechnology company specializing in the discovery of potent anticancer medications. The primary focus of their collaboration is to evaluate the effectiveness of Known Medicine's drugs for patients with lung cancer. Through this agreement, Known Medicine can assess and enhance its ODINTM technology, which predicts clinical outcomes.
Key Questions Answered in Lung Cancer Therapeutics Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- List the top companies in the market and explain how they have achieved their positions of influence.
- In what ways do regional trends and patterns differ within the global market, and how these differences shape the market's future growth?
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