LONDON , May 29, 2023 /PRNewswire/ — Lung cancer has emerged as one of the most commonly occurring ailments across the globe. This deadly disease has a high number of mortality rates. Patients affected with this disease experience difficulties in breathing, cough, chest pain, and other severe symptoms due to the inability of lungs to supply oxygen into the blood. With rapid evolution in the field of medical research, numerous therapies aimed at treating lung cancer have been developed. Targeted therapies, medicines, precision drugs, and surgical producers are some of the treatment options prescribed by healthcare providers as per the stage and severity of the cancer.
The business intelligence report on Lung Cancer Therapies Market by Brandessence Market Research is curated with an aim to provide the industry participants with a succulent overview of this industry. Crucial aspects that are redefining the expansion of this industry including growth drivers, restraints, opportunities, and challenges, among others are thoroughly discussed in this marketplace. A detailed evaluation of the major segments, geographies, and players is also incorporated in this research document.
Key Takeaways
- Rise in the number of smokers, increasing air pollution levels, and growing healthcare spending across numerous regions are aiding market expansion.
- By treatment, the chemotherapy segment is projected to amass notable gains due to its efficacy in treating lung cancer.
- MEA is poised to lead the industry in terms of revenue share owing to the growing pollution levels and increasing adoption of targeted therapies.
- The Lung Cancer Therapies Market is anticipated to garner significant returns over the estimated timeline of 2022-2029.
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Elaborating the Key Trends and Dynamics of Lung Cancer Therapies Market
Rise in the number of smokers, increasing air pollution levels, and growing healthcare spending across numerous regions are primarily augmenting the outlook of this business sphere. Also, exposure to harmful radiation or toxins in workplaces, rapid industrialization, and high frequency of product approvals are creating lucrative opportunities for this marketplace to prosper. Moreover, ongoing R&D activities, escalating demand for personalized treatment methods, and growing cancer awareness among the masses are adding traction to the growth of this industry vertical.
Major Growth Drivers
Surge in smoking rates- There has been a steep rise in the number of smokers across the globe. Growing stress levels, changing lifestyle trends, and rising urge of younger adults to fit in to a certain group are the major reasons behind the increasing rates of smoking. It is evident that cigarettes are made of tobacco and other toxic products. The smoke when inhaled reaches the lung directly and affects it. Prolonged smoking leads to the onset of lung cancer. This in turn is stimulating the overall dynamics of this industry sphere.
Escalating demand for personalized treatments- Personalized treatments are gaining immense prominence across the globe. These treatment methods encompassing customized drugs and treatments are gaining immense prominence due to their ability to cater to the specific health requirements of individual patients. This approach is particularly crucial in the case of lung cancer, which has four distinct stages, each requiring tailored treatment strategies. It is essential to differentiate treatment options based on the specific stage of cancer to ensure optimal outcomes. For instance, drugs used for treating patients in stage 3 cannot be effectively administered to those in the first stage. These factors collectively contribute to the significant growth of the personalized therapeutics marketplace, as healthcare providers increasingly recognize the importance of tailored treatments to enhance patient care and improve treatment outcomes.
Competitive Landscape of Lung Cancer Therapies Market
The prominent players defining the competitive terrain of this business sphere are Hoffmann-La Roche AG, Bayer, Novartis, Pfizer Inc., Merck & Co. Inc., Bristol-Myers Squibb, Eli Lilly and Company, Sanofi, Celgene, AstraZeneca, Ventana, Genentech, Glaxosmith, Boehringer Ingelheim, Takeda Pharmaceuticals Co. Ltd., Ariad Pharmaceuticals, Johnson and Johnson, Daiichi Sankyo, and Teva Pharmaceuticals.
Segmental Assessment of This Industry
By treatment, the chemotherapy segment is projected to amass notable gains over 2022-2029 due to its efficacy in treating lung cancer.
Based on end users, the hospitals segment is anticipated to expand significantly over the estimated timeline. This is attributable to the increased hospital admission rates along with the presence of well-equipped oncology departments across hospitals.
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Geographical Analysis and Landscape of This Market
Middle East & Africa Lung Cancer Therapies Market
MEA is anticipated to lead the industry in terms of revenue share. This is ascribed to the growing pollution levels, increasing adoption of targeted therapies, and surge in the geriatric population base. Besides, rising R&D investments, growing exposure of industry workers to toxic chemicals or gases, technological innovations in oncology research, and increase in healthcare spending are spurring market expansion in this region.
Europe
Europe is expected to showcase the fastest growth over 2022-2029. This is credited to the rapidly evolving healthcare infrastructure, increased number of smokers, and the presence of favourable medical reimbursement scenario. Also, growing cancer awareness and increasing instances of product approvals are positively swaying the dynamics of this regional industry.
Opportunities in This Industry
Rise in the geriatric population- older adults are at a high risk of lung cancer due to a wide array of reasons. They have a weakened immune system and are also the ones with cumulative exposure to risk factors. Chain smokers often face the health consequences of excessive smoking at the later stage of their lives. Apart from that, continuous exposure to harmful cases or chemicals may show its affect once our immune system weakens with age. These factors together are creating an upward trend in this market.
Major Developments in Lung Cancer Therapies Market
Acquisitions
In March 2023, Pfizer announced the acquisition of Seagen Inc., a pharma company specializing in antibody drug conjugate technology.
Partnerships
In March 2019, Adrox Therapeutics Limited joined forces with Johnson & Johnson Innovation LLC with an aim to jointly work on developing efficient therapeutics to treat lung cancer.
Pipeline Assessment of Lung Cancer Therapies Market
Targeted Therapies: Examples include EGFR inhibitors like erlotinib (Tarceva) and osimertinib (Tagrisso), ALK inhibitors such as crizotinib (Xalkori) and alectinib (Alecensa), and ROS1 inhibitors like entrectinib (Rozlytrek). These therapies specifically target genetic mutations or abnormalities found in certain subsets of lung cancer patients.
Immunotherapies: Immune checkpoint inhibitors have shown promise in lung cancer treatment. Pembrolizumab (Keytruda), nivolumab (Opdivo), and atezolizumab (Tecentriq) are examples of PD-1/PD-L1 inhibitors that enhance the immune system’s ability to recognize and attack cancer cells.
Chemotherapy Agents: Traditional chemotherapy drugs, such as paclitaxel (Taxol), docetaxel (Taxotere), and gemcitabine (Gemzar), continue to be explored in combination with targeted therapies and immunotherapies to enhance treatment efficacy.
Antibody-Drug Conjugates (ADCs): These therapies combine the specificity of monoclonal antibodies with the cytotoxic effects of chemotherapy. Examples include ado-trastuzumab emtansine (Kadcyla) and rovalpituzumab tesirine (Rova-T), which target specific markers found on cancer cells.
Oncolytic Viral Therapies: These therapies use modified viruses to selectively infect and destroy cancer cells. Talimogene laherparepvec (Imlygic) is an example of an oncolytic viral therapy being investigated for lung cancer treatment.
On Special Requirement Acute Repetitive Seizures Market Report is also available for below region:
North America
Europe
- Germany, France, U.K., Italy, Spain, Sweden, Netherlands, Turkey, Switzerland, Belgium, Rest of Europe
Asia-Pacific
- South Korea, Japan, China, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest Of APAC
Latin America
- Mexico, Colombia, Brazil, Argentina, Peru, Rest of Latin America
Middle East and Africa
- Saudi Arabia, UAE, Egypt, South Africa, Rest Of MEA
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