Lung Cancer Therapeutics Market - Industry Size, Share, Growth & Forecast 2028 | UnivDatos

 The global lung cancer therapeutics market is expected to register a CAGR of around 9.4% over the period of 2021-2027. The global lung cancer therapeutics market is expected to witness robust growth mainly due to the occurrence of lung cancer, which has increased during the forecast period owing to the high number of smoker’s population. Further, CDC has stated that lung cancer is one of the primary cancers which is still a leading cause of death and a health threat to millions worldwide. Additionally, unhealthy lifestyles and smoking habits have led to increased occurrence of lung cancer in younger demographics. According to CDC, more than 16 million Americans are living with a disease caused by smoking. Smoking also increases the risk of tuberculosis and problems with the immune system. Many therapies are available for the treatment of lung cancer, including chemotherapy, targeted therapy, surgery, and radiation therapy. Thus, lung cancer therapeutics enable the diagnosis and treatment of the same with the help of multiple therapeutics due to an increase in the prevalence of lung cancer, there is increasing usage of therapeutics drugs and new product launches, product pipelines, agreements, and collaborations, clinical trials, and acquisitions were some of the major strategies. Furthermore, various factors such as smoking, unhealthy diet, physical inactivity, and advancing age, increase the risk and diagnosis of such diseases. Therefore, the market for lung cancer therapeutics devices is expected to witness significant growth during the forecast period.

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 According to UnivDatos Market Insights (UMI)’ research report “global lung cancer therapeutics market”, the market is expected to witness robust growth during the forecast period 2021-2027F. This is mainly due to the increasing geriatric population coupled with rising lung cancer, stepping growth on the support of extensive use of lung cancer therapeutics for identifying and managing tumors that are growing at an alarming rate. For instance, in May 2021, Hologic received premarket approval (PMA) from the FDA for its ThinPrep Genesis processor for cytology processing and specimen transfer for downstream applications. Thus, most lung cancer patients are diagnosed at advanced stages of the disease. A retrospective study evaluated the diagnostic value of ThinPrep (TP) bronchial brushing cytology in lung cancer. A total of 595 patients with suspicious lung cancer were enrolled in this study. Many diseases have a high chance of being cured if diagnosed early and treated appropriately. Therefore, the market for lung cancer therapeutics is expected to witness a significant CAGR of 9.4% during the forecast period.

Based on the disease type, the market is segmented into non-small cell lung cancer (NSCLC) and small cell lung cancer (SCLC). In 2020, the non-small cell lung cancer category dominated the market and is expected to maintain its dominance throughout the forecast period. This is mainly due to non-small cell lung cancer cases growing regularly. The non-small lung cancer is treated with the help of advanced therapeutics depending on the age and underlying conditions of the patient. However, the rising prevalence of chronic conditions along with the surging geriatric population is the major factor driving disease diagnosis over the forecast period.

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Based on the distribution channel, the market is segmented into hospital pharmacies, e-commerce, retail pharmacies, and others. In 2020, the hospital pharmacies category accounted for the majority share of the global market. This can be ascribed to the fact that hospitals are the first step in disease diagnosis. Thus, when a diagnosis is accurate and made in a timely manner, hospital pharmacies have the best opportunity for boosting the sales of lung cancer therapeutics from the hospital pharmacies.

North America to witness extensive growth

For a better understanding of the market adoption of the Lung cancer therapeutics industry, the market is analyzed based on its worldwide presence in the countries such as North America (US, Canada, Rest of North America); Europe (Germany, UK, France, Italy, Spain, and Rest of Europe); Asia-Pacific (China, Japan, India, Australia, Rest of Asia-Pacific), and Rest of World. North America is expected to witness the highest CAGR during the forecast period on account of the growing incidence of lung cancer due to smoking and environmental pollution which causes death in countries like the U.S. and Canada. The rising clinical research activity and new product launches, easy accessibility to advanced technologies, government initiatives for screening cancer patients, and favorable reimbursement scenario for lung cancer therapeutics diagnostic tests, owing to the presence of well-established market players and frequent product launches in the region. According to CDC, more than 16 million Americans are living with a disease caused by smoking. Smoking also increases the risk of tuberculosis and problems with the immune system.  Furthermore, the increased consumer awareness regarding the availability of various lung cancer therapeutics and cancer treatments will drive market growth.

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According to UnivDatos Market Insights (UMI)’, the key players with a considerable market share in the global Lung cancer therapeutics market are AstraZeneca, Boehringer Ingelheim, Bristol-Myers Squibb Company, Eli Lilly and Company, F. Hoffmann-La Roche AG, Merck & Co, Pfizer Inc., Allergan Inc., Teva Pharmaceutical Industries Ltd., AbbVie, Inc are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to boost their presence in different regions.

“Global Lung Cancer Therapeutics Market” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for the market players. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitors’ capabilities on different parameters. This will help companies in the formulation of go-to-market strategies and identifying the blue ocean for its offerings.        

Market Segmentation:

1.      By Disease Type (Non-Small Cell Lung Cancer (NSCLC) and Small Cell Lung Cancer (SCLC))

2.      By Treatment (Chemotherapy, Radiation Therapy, Immunotherapy, Targeted Therapy, Others)

3.      By Molecule Type (Small molecules and Biologics)

4.      By Distribution Channel (Hospital Pharmacies, E-Commerce, Retail Pharmacies, Others)

5.      By Region (North America, Europe, Asia-Pacific, Rest of the World)

6.      By Company (AstraZeneca, Boehringer Ingelheim, Bristol-Myers Squibb Company, Eli Lilly and Company, F. Hoffmann-La Roche AG, Merck & Co, Pfizer Inc., Allergan Inc., Teva Pharmaceutical Industries Ltd., AbbVie, Inc)

Key questions answered in the study:

1.      What are the current and future trends of the global lung cancer therapeutics industry?

2.      How the industry has been evolving in terms of technology and application?

3.      How the competition has been shaping across the countries followed by their comparative factorial indexing?

4.      What are the key growth drivers and challenges for the global lung cancer therapeutics industry?

5.      What is the customer orientation, purchase behavior, and expectations from the global lung cancer therapeutics suppliers across various region and countries?