Non-Small Cell Lung Cancer Treatment Market is Expected to Witness High Growth Owing to Rising Prevalence of Lung Cancer
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| Non-Small Cell Lung Cancer Treatment Market |
Non-small
cell lung cancer (NSCLC) refers to a type of lung cancer that is the most
common type, accounting for about 85% of all lung cancers. Most NSCLC are
associated with smoking tobacco. Treatments for NSCLC include surgery,
chemotherapy, radiation therapy, targeted drug therapy, and immunotherapy.
Targeted drug therapies have revolutionized treatment for some types of NSCLC
by blocking the growth and spread of cancer cells.
The
global non-small cell lung cancer treatment market is estimated to be valued at
US$ 26.10 Bn in 2024 and is expected to exhibit a CAGR of 9.4% over the
forecast period from 2024 to 2031.
Key Takeaways
Key players operating in the non-small cell lung cancer treatment market are
AstraZeneca Plc, Boehringer Ingelheim GmbH, Bristol-Myers Squibb Company,
Daiichi Sankyo, Inc., Eli Lilly and Company, Merck & Co., Inc., Otsuka
Pharmaceutical Company, Ltd., Sanofi, and The Medicines Company. Key players
are focusing on developing advanced targeted therapies and immunotherapy drugs
to treat different types of NSCLC.
The emergence of biomarker testing and development of targeted drugs for
specific mutations is providing new opportunities for personalized treatment of
NSCLC. Furthermore, the approval of immune checkpoint inhibitors and their use
in combination with other therapies is expanding treatment options.
Advancements in research and growing clinical trials for immunotherapies,
targeted therapies, and combination treatments across different stages of NSCLC
are supporting the global expansion of the non-small cell lung cancer treatment
market. Increasing awareness and screening are also driving the market in
emerging countries.
Market drivers
The rising prevalence of lung cancer worldwide due to widespread tobacco
smoking is a major driver for the Non-Small
Cell Lung Cancer Market Size . It is estimated that over 2.1 million
new cases of lung cancer are diagnosed globally each year. With improved
understanding of cancer biology, various targeted and immune therapies have
been developed which have improved treatment outcomes and survival rates of
patients with certain types of NSCLC. This is positively impacting the growth
of the market.
PEST Analysis
Political: Regulations supporting investment in cancer research positively
impact market growth. Government initiatives to spread cancer awareness also
aid market expansion. However, stringent regulations for product approval may
slightly hinder short term revenue generation.
Economic: Rising healthcare expenditure, growing per capita income, and
increasing private & public funding for cancer treatment and research drive
market value. The high cost of non-small cell lung cancer therapies remains a
challenge for certain underprivileged population in few countries.
Social: Growing awareness about various symptoms, risk factors, available
screening and treatment options promote early diagnosis and management of
non-small cell lung cancer. However, social stigma still associated with cancer
diagnosis act as a deterrent for people to seek timely medical intervention.
Technological: Advancements in targeted drug therapy, immunotherapy and
combination therapy have improved treatment outcomes and survival rates of
non-small cell lung cancer patients. Continuous research strives to develop
novel targeted therapies and diagnostic tools with better efficacy and reduced
side-effects.
The geographical regions where the non-small cell lung cancer market in terms
of value is concentrated includes North America, Western Europe and Japan.
These developed markets account for over 70% share due to growing disease
incidence, availability of advanced healthcare infrastructure, high adoption of
premium therapeutics and large healthcare expenditure.
The Asia Pacific region excluding Japan represents the fastest growing market
for non-small cell lung cancer. Factors such as rising aging population,
growing cancer incidence, increasing healthcare spending, growing awareness and
expanding healthcare infrastructure are supporting the market growth in Asia
Pacific countries like China and India.
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Money Singh is a seasoned content writer with over
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materials, defense and aerospace, consumer goods, etc. (https://www.linkedin.com/in/money-singh-590844163)
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