Dublin, Feb. 19, 2024 (GLOBE NEWSWIRE) -- The "Small Cell Lung Cancer Therapeutics Global Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
Growth in Small Cell Lung Cancer Therapeutics Spurred by Increasing Prevalence and Innovative Treatment Approaches
A significant rise in small cell lung cancer therapeutics is projected as a newly published report suggests a substantial growth in the global market, from $6.62 billion in 2024 to an expected $10.87 billion by 2028. This forecast reflects a robust compound annual growth rate (CAGR) of 13.2% during the period. The report has identified a range of factors driving this growth, including the escalating prevalence of small-cell lung cancer, increasing awareness, and advanced therapeutic developments.
With advancements in the field of oncology, the Asia-Pacific region is anticipated to be the fastest-growing market, while North America retains its position as the largest market for small cell lung cancer therapeutics. These regions are centers of heightened activity in research and the development of novel treatments, contributing to the overall market expansion.
Recent technological advancements in early detection and screening techniques, innovative clinical trials, and the development of more effective radiation therapy and immunotherapies are key trends projected to impact the market trajectory considerably. In addition, the report highlights the worrying trend of tobacco use, which is a major risk factor driving the incidence rate of small cell lung cancer globally.
The shortage of skilled oncologists has been identified as a constraint, potentially impacting the future growth of the small-cell lung cancer therapeutics market. This underscores the need for enhanced educational and training programs in the oncology field to meet the growing demand for cancer care.
In a landscape marked by competition and innovation, major players are unrelentingly pursuing new drug developments. As a case in point, the introduction of COSELA (trilaciclib) by G1 Therapeutics Inc. has been a notable event in the market, demonstrating the industry's commitment to advancing cancer treatment.
Furthermore, the acquisition of Resolution Bioscience by Agilent Technologies Inc. in April 2021 is an exemplary strategic move within the industry that aims to augment capabilities in next-generation sequencing-based cancer diagnostics, enhancing precision oncology solutions.
The market is served by an array of pharmaceutical companies like Pfizer Inc., F. Hoffmann-La Roche AG, and Johnson and Johnson Private Limited, among others. These key industry players provide a host of treatment solutions, including chemotherapy, targeted therapy, and immunotherapy, across various healthcare settings ranging from hospitals to dedicated cancer therapy centers.
In-depth analysis and insights provided in the report are crucial for stakeholders to understand the current state and future prospects of the small cell lung cancer therapeutics market. This is instrumental for informed decision-making and strategizing in both established and emerging markets.
A selection of companies mentioned in this report includes
- Pfizer Inc.
- Johnson and Johnson Private Limited
- F. Hoffmann-La Roche AG
- AbbVie Inc
- Bayer AG
- Janssen Pharmaceuticals
- Novartis AG
- Merck and Co. Inc.
- Sanofi S.A
- Bristol-Myers Squibb Company
- Astrazeneca plc
- GSK plc
- Medtronic plc
- Eli Lilly and Company
- Gilead Sciences Inc
- Boehringer Ingelheim International GmbH
- Otsuka Pharmaceutical Co. Ltd.
- Teva Pharmaceutical Industries Ltd.
- Regeneron Pharmaceuticals
- Mylan N.V.
- Astellas Pharma Inc.
- Daiichi Sankyo Company Ltd.
- Vertex Pharmaceuticals
- Aurobindo Pharma Limited
- Kyowa Kirin Co. Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/hga7ci
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