Global Lung Cancer Therapeutics Market Size, Share & Trends Analysis Report By Drugs ( Platinol, Taxol, Gemzar, Alimta, and Others) By Therapy (Chemotherapy, Targeted Therapy, Immunotherapy, Radiation Therapy, and Others ), By End-User (Multispecialty Hospitals, Cancer Research Centers) Forecast, 2022-2028
The global lung cancer therapeutics market is anticipated to grow at a CAGR of around 8.7% during the forecast period. Lung cancer negatively affects the lungs' potential to deliver oxygen to the bloodstream. It is one of the most commonly diagnosed diseases, and among all cancers, lung cancer has the highest mortality rate in both men and women. The primary risk factor for the development of lung cancer is cigarette smoking. Further rise in the adoption of unhealthy lifestyles among people, growing demand for targeted therapies, and availability of efficient drugs and treatments are also propelling the growth of the market. On the contrary, widespread availability of only essential generic drugs, the presence of limited treatment options, and a large unmet need for diagnosis are expected to be the major factors restraining the overall growth of the lung cancer therapeutics market. However, the increasing rate of approvals in lung cancer therapeutics and the introduction to nanomedicine will be creating an opportunity for the growth of the market.
COVID-19 impact on the global Lung Cancer Therapeutics market
The effect of COVID-19 has negatively impacted the mental health of people suffering from lung cancer. Patients with lung cancer are at high risk due to infectious disease during the COVID-19. As there were lockdown restrictions, and the world needed COVID-19 emergency care, therefore doctors treated only emergency cases. The reaming treatment for diagnosis for lung cancer was postponed resulting in the delay in the cancer treatment procedure. However, as COVID-19 is severely affecting the lung cancer people, doctors and hospitals are trying to take utmost care of these patients and providing necessary treatment and this factor will surge the lung cancer therapeutics market in the coming years after the pandemic.
The global Lung Cancer Therapeutics market is segmented based on drugs, therapy, and end-user. Based on drugs, the market is segmented into Platinol, Taxol, Gemzar, Alimta, and others (Iressa, Hycamtin, Gilotrif, Taxotere, Xalkori). Based on therapy, the market is classified into chemotherapy, targeted therapy, immunotherapy, radiation therapy, and others. Further, based on end-user, the market is segregated into multispecialty hospitals and cancer research centers.
Global Lung Cancer Therapeutics Market Share by therapy, 2020 (%)
Global Lung Cancer Therapeutics Market Share by therapy
Targeted therapy is projected to hold a significant share in the global Lung Cancer Therapeutics market
Among therapy, the targeted therapy segment is projected to have a considerable share in the global market. Since traditional chemotherapy can harm normal cells while destroying cancer cells, the demand for targeted therapeutics is expected to expand during the forecast period. The primary goal of targeted therapy is to help treat cancer by interrupting specific proteins that help tumors develop and spread throughout the body. Cancer cells can be marked with specific targeted therapy to make it easier for the immune system to target and destroy them. Some targeted therapies can support boosting the immune system so that it can fight cancer more effectively. Therefore, the global targeted therapeutics market is expected to grow during the forecast period, owing to an increasing number of cancer patients globally. Furthermore, the constant development and research activities in the area of life sciences are also supporting the growth of the targeted therapy market. However, the risk associated with target therapies is anticipated to restrain the market growth during the forecast period.
The global lung cancer therapeutics market is further segmented based on geography including North America, Europe, Asia-Pacific, and the Rest of the World. Due to a high prevalence rate of lung cancer in the region, North America is projected to have a significant share in the global market. For instance, according to the American Lung Association, lung cancer has been diagnosed in approximately 541,000 Americans at some point in their lives. An estimated 234,030 new cases of lung cancer were expected to be diagnosed in 2018, accounting for roughly 13% of all cancer diagnoses. Furthermore, targeted therapies are a rapidly expanding area of cancer research, with researchers studying numerous new targets and drugs in clinical trials, therefore these factors are propelling the market growth in North America.
Global Lung Cancer Therapeutics Market Growth, by region 2022-2028
Global Lung Cancer Therapeutics Market Growth, by region
Asia-Pacific is projected to grow significantly in the global Lung Cancer Therapeutics market during the forecast period
Geographically, Asia-Pacific is estimated to have considerable CAGR in the global Lung Cancer Therapeutics market during the forecast period. The countries such as China and India are the developing regions for the global lung cancer therapeutics market attributing to factors such as the high prevalence of the disease and rising healthcare alertness. The rising geriatric population also increasing the incidences of lung cancer is also a major driver propelling the growth of the market in the region. However, side effects associated with treatments and lack of awareness about the treatment options among the people will be the restraining factor for the growth Asia-Pacific lung cancer therapeutics market.
Market Players Outlook
The key players of the lung cancer therapeutics market include AstraZeneca PLC, Bayer AG, Danaher Corp., Becton, Dickinson and Co., Biotronik SE & Co. KG, F. Hoffmann-La Roche Ltd., GlaxoSmithKline Plc, Pfizer Inc., Siemens AG, and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers, and acquisitions, collaborations, and new product launches, to stay competitive in the market. For instance, in December 2018, F. Hoffmann-La Roche Ltd announced that Tecentriq was approved by the US Food and Drug Administration (FDA). This is the combination with Avastin, paclitaxel, and carboplatin (chemotherapy) for the first-line treatment of people with metastatic non-squamous non-small cell lung cancer (NSCLC). This approval will be supporting Roche's combination therapy approach for Tecentriq in lung cancer and the company goal to develop medicines that improve outcomes for patients suffering from this complex disease.
The Report Covers
- Market value data analysis of 2020 and forecast to 2027.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global Lung Cancer Therapeutics market
- Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market entry and market expansion strategies.
- Competitive strategies by identifying 'who-stands-where in the market.
Table of Contents
- Current Industry Analysis and Growth Potential Outlook
- Impact of COVID-19 on the Global Wheelchair Industry
- Recovery Scenario of Global Wheelchair Industry
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. By Geography
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
3.1.2. Financial Analysis
3.1.3. SWOT Analysis
3.1.4. Recent Developments
3.2. Key Strategy Analysis
3.3. Impact of Covid-19 on Key Players
5.1.1. Adult Wheelchair
5.1.2. Pediatric Wheelchair
5.2. Global Wheelchair Market by Operation Mode
5.2.1. Electric Powered Wheelchair
5.2.2. Manual Wheelchair/ Transport Wheelchair
5.3. Global Wheelchair Market by Type
5.3.1. Standard Wheelchair
5.3.2. Bariatric Wheelchair
5.3.3. Standing Wheelchair
5.3.4. Sports Wheelchair
5.4. Global Wheelchair Market by End-User
6.1.1. United States
6.2.6. Rest of Europe
6.3.4. South Korea
6.3.5. Rest of Asia-Pacific
6.4. Rest of the World
7.2. Antano Group
7.4. Convaid Products
7.5. Etac AB.
7.6. Eurovema Mobility AB
7.7. FOSHAN DONGFANG MEDICAL EQUIPMENT MANUFACTORY(LTD.)
7.8. GF HEALTH PRODUCTS, INC.
7.9. Hoveround Corp.
7.10. Invacare Corp. **List not exhaustive
A selection of companies mentioned in this report includes:
- Abbvie Inc.
- Achieve Life Sciences, Inc.
- Amgen Inc.
- AstraZeneca Plc
- Astellas Pharma Inc.
- Boehringer Ingelheim International GmbH
- Bristol-Myers Squibb Co.
- Celldex Therapeutics, Inc
- Eisai Co Ltd
- Eli Lilly and Co.
- F. Hoffmann-La Roche Ltd.
- Glaxosmithkline Plc
- Helsinn Healthcare S.A.
- Novartis International AG
- Pfizer, Inc.
- Sanofi SA
- Teva Pharmaceutical Industries Ltd.