Vancouver, Jan. 17, 2024 (GLOBE NEWSWIRE) -- The global lung cancer market size was USD 29.8 Billion in 2022 and is expected to register a rapid revenue CAGR of 11.6% during the forecast period. Rising demand for minimally invasive procedure and technological advancements in Lung cancer treatment are key factors driving market revenue growth.
Prevalence of lung cancer is rising as focus on preventing and treating cancer using the body's own immune system is increasing. Most common types of lung cancer are small cell lung cancer and NSCLC. The most significant advancement in lung cancer market over the past year is the development of immunotherapy, which uses the body's own immune system to attack and destroy cancer cells. It has been shown to be more effective than traditional chemotherapy and radiation therapy for many types of lung cancer. The largest advancement in the lung cancer market in recent years has been the development of PD-L1 and CTLA-4. These drugs are designed to target specific mutations or proteins unique to an individual's cancer cells. Next-generation immunotherapy is more targeted, durable, and combined with other therapies. Several innovative technologies are beginning to be included in lung cancer including Nanomedicine, Gene therapy, Artificial intelligence (AI), Machine Learning (ML), minimal invasive surgery, stereotactic body radiotherapy, and biomarkers.
Increasing prevalence of lung cancer is another key factor driving revenue growth of the market. World Health Organization (WHO) estimates that 10 million deaths, or approximately one in six attributable to cancer in 2020, making it the leading cause of death worldwide. American Cancer Society estimated there are 1.9 million new cancer cases and 609,360 cancer deaths in 2022. Lung cancer is the second most common cancer world-wide. There were over 2.2 million new cases of lung cancer in 2020. Smoking is the leading cause of lung cancer, responsible for approximately 85% of all cases.
Request Free Sample Copy (To Understand the Complete Structure of this Report [Summary + TOC]) @ https://www.emergenresearch.com/request-sample/2733
Technological advancement in minimally invasive procedures and improved surgical precision is also expected to drive market revenue growth during the forecast period. For instance, on 26 November 2021, GE Healthcare and Optellum announced its collaboration to advance precision diagnosis and treatment of lung cancer. Most lung nodules found are hard to diagnose and manage, which delays cancer treatment for some patients and leads to unnecessary procedures for others. Companies are looking to address these largest challenges in the diagnosis of lung cancer, helping providers to decide the malignancy of a lung nodul.
Segment Insights
Type Insights:
On the basis of vaccine type, the global lung cancer market is segmented into small cell lung cancer and NSCLC. The NSCLC segment accounted for largest revenue share in the global lung cancer market in 2022. This is because NSCLC is typically slower to grow and spread than Small Cell Lung Cancer (SCLC), the other major type of lung cancer. There are three main non-small of NSCLC such as adenocarcinoma, squamous cell carcinoma, and large cell carcinoma. Adenocarcinoma is the most common type of NSCLC, accounting for about 40% of all cases. This type of lung cancer occurs mainly in people who smoke or are used to smoke but this is also the most common type of lung cancer seen in people who do not smoke. NSCLC typically starts in flat cells that line the inside of lungs. NSCLC is a serious disease, but it is treatable with surgery, chemotherapy, radiation therapy, and targeted therapy.
Treatment Insights:
On the basis of treatment, the global lung cancer market is segmented into chemotherapy, radiotherapy, targeted therapy, photodynamic therapy, laser therapy, and others. The targeted therapy segment is expected to account for significantly large revenue share in the global lung cancer market during the forecast period owing to rising number of cases of lung cancer. Targeted therapies are designed to target specific molecular abnormalities within cancer cells, allowing for more precise and less harmful treatment compared to traditional chemotherapy and radiation therapy. Targeted therapy is 80% effective in treating lung cancer, while traditional chemotherapy has a success rate of about 30%. The therapy is accurate, with minimal side effects, and suitable for elderly patients who are too weak to undergo a course of chemotherapy.
Emergen Research is Offering Limited Time Discount (Grab a Copy at Discounted Price Now) @ https://www.emergenresearch.com/request-discount/2733
Regional Insights:
North America market accounted for largest revenue share in the global lung cancer market in 2022 due to increasing prevalence of lung cancer. In 2022, American cancer society estimated 1.9 million new cancer cases diagnosed and 609,360 cancer deaths in the U.S. Approximately 237,000 people were diagnosed with lung cancer. NSCLC, which makes up 82% of all lung cancer diagnoses in the U.S., is the most common kind of the disease. In addition, key strategic initiatives and partnerships between major market companies developing lung cancer treatments especially in the U.S., which is another factor driving market revenue growth of this region. For instance, on 12 October 2023, Pfizer announced U.S. Food and Drug Administration (FDA) approved BRAFTOVI. This drug is for the treatment of adult patients with metastatic non-small cell lung cancer.
Asia Pacific market is expected to register fastest revenue growth rate in the global lung cancer market over the forecast period due to the Increasing prevalence of lung cancer and tobacco smoking. In 2022, the estimated number of lung cancer cases in Asia was 103,371. The mortality rates of lung cancer in East Asia are 34.4 and 28.1 per 100,00. In addition, new and innovative treatments for lung cancer are being developed and approved, offering patients more options and better outcomes. Targeted therapies, such as gefitinib and erlotinib, have been shown to be effective in treating patients with lung cancer who have certain genetic mutations.
Scope of Research
| Report Details | Outcome |
| Market Size in 2022 | USD 29.8 Billion |
| CAGR (2023–2032) | 11.6% |
| Revenue Forecast To 2032 | USD 88.4 Billion |
| Base Year For Estimation | 2022 |
| Historical Data | 2019–2021 |
| Forecast Period | 2023–2032 |
| Quantitative Units | Revenue in USD Billion and CAGR in % from 2023 to 2032 |
| Report Coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments Covered | Type, Indication, end-use, and region |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
| Country Scope | U.S., Canada, Mexico, Germany, France, UK, Italy, Spain, Benelux, Russia, Rest of Europe, China, India, Japan, South Korea, ASEAN Countries, Oceania, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, South Africa, Turkey, and Rest of Middle East & Africa |
| Key Companies Profiled | AstraZeneca, GSK, Roche, Sanofi, Pfizer, Bristol Myers Squibb, SUN PHARMA, Eli Lilly and Company, Johnson and Johnson, and Novartis |
| Customization Scope | 10 hours of free customization and expert consultation |
Direct Order Can Be Placed Through This Link [Exclusive Copy] @ https://www.emergenresearch.com/select-license/2733
Major Companies and Competitive Landscape
The global lung cancer market is fairly fragmented with many large and medium-sized players accounting for majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective lung cancer solutions.
Some major players included in the global lung cancer market report are:
- AstraZeneca
- GSK
- Roche
- Sanofi
- SUN PHARMA
- Bristol Myers Squibb
- Johnson and Johnson
- Eli Lilly and Company
- Pfizer
- Novartis
Strategic Development
- On 10 August 2023, Bristol Myers Squibb acquired Mirati therapeutics with the UK government to supply personalized mRNA cancer immunotherapies. Through this acquisition, Bristol Myers Squibb added KRAZATI, an important lung cancer medicine, to its commercial portfolio. The acquisition of Mirati Therapeutics is a strategic move that aligns with Bristol Myers Squibb's long-term goals of enhancing its oncology portfolio and KRAS and MTAP pathway targeting capabilities, accelerating drug development, and gaining access to Mirati therapeutics.
- On 30 December 2021, Blueprint Medicines Corporation acquired Lengo Therapeutic and lead compound LNG-451. This is a potential best-in-class oral precision therapy in development for the treatment of NSCLC. This acquisition of Lengo Therapeutics and its lead candidate LNG-451 enables Blueprint Medicines to expand the pipeline in lung cancer. LNG-451 has the potential to improve treatment outcomes for NSCLC patients with EGFR exon 20 insertion mutations. This drug is designed to be more selective and potent than current therapies, and it may have fewer side effects.
Browse Full Report Description + Research Methodology + Table of Content + Infographics@ https://www.emergenresearch.com/industry-report/lung-cancer-market
For the purpose of this report, Emergen Research has segmented the global Lung cancer market on the basis of type, Indication, end-use, and region:
- Type outlook (Revenue, USD Billion; 2019-2032)
- Small Cell Lung Cancer
- Non-Small Cell Lung Cancer (NSCLC)
- Indication Outlook (Revenue, USD Billion; 2019-2032)
- Targeted Therapy
- Chemotherapy
- Radiotherapy
- Photodynamic Therapy
- Others
- End-Use Outlook (Revenue, USD Billion; 2019-2032)
- Hospitals
- Clinic
- Research Institute
- Regional Outlook (Revenue, USD Billion; 2019–2032)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Benelux
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- India
- ASEAN Countries
- Oceania
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Rest of LATAM
- Middle East & Africa
- GCC Countries
- Israel
- Turkey
- South Africa
- Rest of Middle East & Africa
- North America
Emergen Research is Offering Exclusive Customization as per your Specific Requirements@ https://www.emergenresearch.com/request-for-customization/2733
About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy.
Contact Us:
Eric Lee
Corporate Sales Specialist
Emergen Research | Web: https://www.emergenresearch.com/
Direct Line: +1 (604) 757-9756
E-mail: sales@emergenresearch.com
Explore Our Blogs and Insights Section: https://www.emergenresearch.com/insights
