Global Lung Cancer Therapeutics Market

Lung Cancer Therapeutics Market Size, Share, Growth Analysis, By Therapy(Targeted Therapy (Bevacizumab, Dabrafenib/Trametinib, Erlotinib Hydrochloride, Osimertinib), By Cancer Type(Non-small cell lung cancer (NSCLC), and Small cell lung cancer (SCLC)), By Distribution Channel(Hospital Pharmacies, Retail Pharmacies, Online Pharmacies, Others), By Region - Industry Forecast 2024-2031

Report ID: SQMIG35J2088 | Region: Global | Published Date: September, 2024
Pages: 242 | Tables: 122 | Figures: 77

Lung Cancer Therapeutics Market Regional Insights

The lung cancer treatments and diagnostics market was dominated by North America in 2021, accounting for 39.17% of global value. The large percentage of elderly people in the region, the presence of numerous international and local manufacturers, and investments made to diagnose cancer at an earlier stage are only a few of the reasons for the market's expansion. However, throughout the predicted period of 2022–2028, Asia–Pacific is expected to have faster development. The region is making significant investments in radiology treatments and chemotherapies. China and Japan are prepared to raise their spending on cutting-edge immunotherapies.

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Global Lung Cancer Therapeutics Market size was valued at around USD 32.2 billion in 2022 and is expected to rise from USD 36.4 billion in 2023 to reach a value of USD 86.8 billion by 2031, at a CAGR of 13.2% over the forecast period (2024–2031).

The top market participants have a wide geographic reach and a wide range of products to meet a variety of consumer wants. Industry players are spending a lot of money on R&D in order to introduce new Treatment and increase their profitability in this potential market 'Genentech (F. Hoffmann-La Roche Ltd) ', 'Eli Lilly and Company ', 'Celgene Corporation  ', 'AstraZeneca ', 'Pfizer Inc. ', 'Sanofi ', 'Novartis AG ', 'Astellas Pharma Inc. ', 'Bristol Myers Squibb ', 'Boehringer Ingelheim Pharmaceuticals, Inc. ', 'Millennium Pharmaceuticals, Inc. (Takeda) ', 'Merck Sharp & Dohme Corp. ', 'Eisai Co., Ltd. ', 'Johnson & Johnson ', 'Bayer AG ', 'GlaxoSmithKline plc ', 'Amgen Inc. ', 'Spectrum Pharmaceuticals, Inc. '

The rise in chronic tobacco use is to blame for the rise in lung cancer cases, which now account for roughly 85% of all cancer cases worldwide. It is predicted that the number of cancer cases will increase in the near future due to cigarette smoke, which contains at least 73 known carcinogens.

One of the key reasons fueling the expansion of the global lung cancer therapeutic market in 2021 is the rising adoption and demand for targeted medicines, which are regarded as the cornerstone of precision medicine due to the rising R&D activities. According to estimates, among the several therapeutic kinds, targeted therapy has the biggest market share. Targeted therapy held a market share of 51.1% and is expected to grow over the course of the forecast period. The expansion of the targeted therapy market is also being driven by a growing emphasis on lung cancer detection and subsequent treatment based on precise targeting of the tumour or cancer source.

The lung cancer treatments and diagnostics market was dominated by North America in 2021, accounting for 39.17% of global value. The large percentage of elderly people in the region, the presence of numerous international and local manufacturers, and investments made to diagnose cancer at an earlier stage are only a few of the reasons for the market's expansion. However, throughout the predicted period of 2022–2028, Asia–Pacific is expected to have faster development. The region is making significant investments in radiology treatments and chemotherapies. China and Japan are prepared to raise their spending on cutting-edge immunotherapies.

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Global Lung Cancer Therapeutics Market

Report ID: SQMIG35J2088

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