Author: Himanshu Patni
21 November 2022
The Global Lung Cancer Therapeutics Market is expected to register a CAGR of around 9% from 2021 to 2027. The global lung cancer therapeutics market is growing mainly due to the high prevalence of lung cancer and other associated chronic diseases coupled with the growth in the geriatric population. In addition, the stringent government regulations coupled with the growing focus of major stakeholders in the healthcare industry. Major healthcare companies are investing heavily in their products due to the rising prevalence of lung cancer. The American Cancer Society’s estimates for lung cancer in the United States for 2022 are about 236,740 new cases of lung cancer (117,910 in men and 118,830 in women). Furthermore, various factors such as smoking, unhealthy diet, physical inactivity, and advancing age, increase the risk and diagnosis of such diseases.
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Based on molecule type, the market is segmented into small molecules and biologics. Among these, the small molecules category accounted for the major share in global lung cancer therapeutics. Small molecules are highly used in the treatment of lung cancer due to the rising preference of professionals for nano-therapy. Thus, the market is expected to witness significant growth during the forecast period.
Based on distribution channels, 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 is 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, hospitals have the best opportunity for boosting the sales of lung cancer therapeutics from hospital pharmacies.
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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 accounted for a significant share on account of the growing incidence of lung cancer and chronic disorders 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.
Some of the major players operating in the market include 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.
Global Lung Cancer Therapeutics Market Segmentation
Market Insight, by Diseases Type
• Non-small Cell Lung Cancer (NSCLC)
• Small Cell Lung Cancer (SCLC)
Market Insight, by Treatment
• Chemotherapy
• Radiation Therapy• Immunotherapy• Targeted Therapy• Others
Market Insight, by Molecule Type
Market Insight, by Distribution Channel
• Hospital pharmacies
• E-Commerce• Retail Pharmacies• Others
Market Insight, by Region
Top Company Profiles
• 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.
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