Global Lung Cancer Therapeutics Market Report and Forecast 2024-2032

Global Lung Cancer Therapeutics Market Outlook

The global lung cancer therapeutics market size attained a value of USD 31.92 billion in 2023. The market is likely to grow at a CAGR of 11.60% during the forecast period of 2024-2032 to attain a value of USD 85.71 billion by 2032.

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Global Lung Cancer Therapeutics Market Trends

Cancer refers to multiple tumours that can start developing in one of the body parts and spread uncontrollably to other parts of the body. Tumours are lumps of tissue which are often identified as the initial symptoms of cancer. In the later stages, when the cancerous cells spread abnormally to other organs, it becomes extremely difficult to treat them. This process is known as metastasis.

One of the primary causes of lung cancer is smoking. It can also happen due to using other types of tobacco and inhaling secondhand smoke or due to genetic factors.

Increasing Population of Smokers

The number of people smoking and adopting unhealthy lifestyles has become one of the major factors for the rising prevalence of lung cancer patients.

Development of Advanced Treatments

The development of advanced targeted treatments such as chemotherapy and radiation therapy. Moreover, with the FDA approving immunotherapy for lung cancer treatment, the market is likely to witness further growth in the forecast period.

Growing Focus on Research and Development

Companies have started to invest in research and development teams and collaborate with institutes to study and develop innovative treatment methods. This can further bolster the market growth in the coming years.

Increasing Investments by the Government

Governments of different countries have started investing in the infrastructural development of the healthcare sector and promoting treatment services. This can augment the market growth as the awareness among people rises.

Opportunities for the Global Lung Cancer Therapeutic Market

Implementation of Machine Learning

Companies have started to combine cancer treatment with machine learning. This will help the specialists identify cancer more efficiently with the CT scans.

Increasing Disposable Income

The rapid industrialisation in developing countries has propelled the disposable incomes of the population, which can augment the healthcare market and show positive opportunities for the expansion of lung cancer therapeutics.

Nanomedicine for Targeted Treatment

The development and implementation of nanomedicine can open up new opportunities for the market players and further propel the market development. This method of treatment will target the specific cancer cells for treatment and reduce the adverse effects of therapeutics.

Major Challenges for the Global Lung Cancer Therapeutic Market Development

Lack of Skilled Professionals

Cancer therapeutics and technologies require skilled and trained professionals for the proper management of the systems.

High Maintenance Costs for the Devices

The devices for cancer therapeutics require extensive amounts of money for maintenance and installation, which can be a hindering factor as smaller health institutions would avoid investing in these technologies.

Unequal Distribution of Cancer Care

Inadequate infrastructure and standardisation can hinder cancer care delivery, ultimately hindering the market growth.

Global Lung Cancer Therapeutics Market Analysis

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Based on type, the market can be segmented into non-small cell lung cancer (NSCLC) and small cell lung cancer (SCLC), among others. Based on the therapy, it can be bifurcated into chemotherapy, immunotherapy, radiation therapy, and targeted therapy, among others. Based on end-use, the market segments include hospitals, home care, and speciality clinics, among others. Based on distribution channels, the marker segments include hospital pharmacies, retail pharmacies, and online.

The regional markets for the lung therapeutics market can be divided into North America, Europe, the Asia Pacific, Latin America, the Middle East and Africa.

The extensive E.M.R. report provides an in-depth evaluation of the market based on Porter's five forces model and a SWOT analysis

The lung cancer therapeutics market report comprehensively analyses key players in the market, covering their competitive landscape and the latest developments like mergers, acquisitions, investments, and expansion plans.

• Genentech, Inc.

• AstraZeneca PLC

• Novartis AG.

• Merck KGaA

• F. Hoffmann-La Roche Ltd

• Boehringer Ingelheim International GmbH

• Others

Different Types of Lung Cancer

Based on type, the market segments include non-small cell lung cancer (NSCLC) and small-cell lung cancer (SCLC). Non-small cell lung cancer develops at a slower rate than small-cell lung cancer. The cancer cells in this type are larger compared to the other type. It is the most common type of lung cancer, accounting for a major percentage of lung cancer cases.

Small-cell lung cancer spreads faster than non-small cell lung cancer and there are chances that this type of cancer can come back after treatment. This type of lung cancer is the least common type of lung cancer.

Different Therapies Available in the Market

Based on therapies, chemotherapy and radiation therapy hold a significant share of the market as they are the primary type of treatment given to patients. Chemotherapy is a type of cancer treatment conducted by using powerful drugs to kill fast-spreading cells or reduce the symptoms and prolong life.

Radiation therapy involves doses of radiation to kill cancer cells or slow down their growth by damaging their DNA. The treatment focuses on a particular body part where cancer cells are present.

Other treatments include immunotherapy and targeted therapy. Immunotherapy treatment utilises our body’s own immune system’s capabilities to control and treat cancer. It conditions our immune system to identify and attack cancer cells. It strengthens our immune system to fight against cancer cells if they return.

Targeted therapy as a type of cancer treatment utilises drugs to target the specific cells and proteins which help in the growth of cancer.

These Therapeutics Find End-Uses in Hospitals, Home Care, and Speciality Clinics

The lung cancer therapeutics market has several end-users including hospitals, homecare, and speciality clinics, among others. Among these segments, hospitals hold the largest share of the market.

With developing health infrastructure, larger hospitals are equipped with the latest technologies such as Gamma Cameras, PET/CT, CT simulation, and MRI (Magnetic Resonance Imaging), among others, for the diagnosis and treatment of cancer.

Cancer homecare is a specialised care service provided to patients as they deal with a lot of side effects. This service allows the patients to stay in a familiar environment with their families while receiving care from specialist.

Cancer speciality clinics are centres with specialised equipment and trained staff for the treatment of different types of cancer. Many developing countries are developing specialised clinics due to the increasing number of cases.

Distribution Channels include Hospital Pharmacies, Retail Pharmacies, and Online Channels

Based on distribution channels, the market segments include retail pharmacies, hospital pharmacies, and online pharmacies. Among these distribution channels, hospital pharmacy is expected to hold a significant share due to the increasing number of cases in hospitals.

Retail pharmacies are also growing in the market owing to the increasing preference of people to buy medicine from nearby stores. Online pharmacy is expected to hold a higher growth rate due to the rapid growth of the e-commerce industry.

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Competitive Landscape

Genentech, Inc. is a biotechnology company based in the United States. They became a part of the Roche Group in March of 2009. They function independently within Roche.

They have been developing medicines for chronic and life-threatening diseases. Some of their major developments were treatment for locally advanced or metastatic non-small lung cancer and pancreatic cancer, and designed antibodies to stop the activation and reactivation of T-cells that cause psoriasis.

AstraZeneca PLC is a multinational company working in the field of pharmaceuticals and biotechnology, with a focus on developing and commercialising prescription medicines. Their areas for medicine development include Oncology, Cardiovascular and Metabolic Disease (CVMD) and Respiratory. They also collaborate with biotech research institutes to work with emerging technologies such as Modified RNA and CRISPR genome editing.

Novartis AG. is a Swiss multinational pharmaceutical company with a focus on creating treatments with science and technology in various sectors such as oncology, ophthalmology, neuroscience, and cardiovascular disorders, among many others. Novartis is also engaged in radioligand therapy, precision imaging, and gyroscope therapeutics.

Merck KGaA is a multinational company for science and technology with operations in different sectors such as healthcare, life science and electronics. They design and develop medicines and smart devices to treat diseases such as cancer and multiple sclerosis.

F. Hoffmann-La Roche Ltd is more commonly known as Roche. It is a multinational healthcare company based in Switzerland. They operate worldwide focusing on two sectors pharmaceuticals and diagnostics. They have started to focus on personalised healthcare with early detection of diseases and accurate diagnosis.

Boehringer Ingelheim International GmbH is a leading biopharmaceutical company, working with professionals on the latest innovation for the diagnosis of diseases for human health. The company works on drug discovery and development, and other healthcare products for heart diseases, metabolic diseases, cancer, lung diseases, mental disorders, and retinal diseases.

Key Highlights of the Report

Lung Cancer Therapeutics Market Report Snapshots

Lung Cancer Therapeutics Market Size

Lung Cancer Therapeutics Market Trends

Lung Cancer Therapeutics Companies