Lung Cancer Therapeutics Market

Report Description
Table of Contents

Report Description

The global lung cancer therapeutics market size is estimated to be USD 24.76 billion in 2021 and is expected to witness a CAGR of 14.71% during the forecast period. Increasing cases of lung cancer is a key driver for the growth of the global lung cancer therapeutics market. Additionally, rise in pollution attributed to the rapid industrialization, growth in increase of smokers globally, and increase in investment in R&D for new drugs in the market are some of the other drivers propelling the market growth. Nevertheless, growth in side effects of drugs used in treatment and stringent regulatory situation for new product launches are expected to restrain the global market growth.

Global Lung Cancer Therapeutics Market Size (USD Billion), 2021-2029

Source: Erevna Healthcare

By Disease Type

Based on disease type, the market is categorized into small cell lung cancer (SCLC) and non-small cell lung cancer (NSCLC). In 2021, the non-small cell lung cancer (NSCLC) segment accounted for the substantial revenue share with lucrative CAGR during the forecast period. This is due to the fact that this type of cancer is mainly found in regular or former smokers worldwide. The small cell lung cancer (SCLC) segment is anticipated to grow at a profitable CAGR during the forecast period, due the use of chemotherapy and radiation therapy for treatment of these type of cancers are the key factors driving the market worldwide.

By Treatment

Based on treatment, the market is categorized into immunotherapy, radiation therapy, chemotherapy, targeted therapy, and others. In 2021, the chemotherapy segment accounted for the substantial revenue share with lucrative CAGR during the forecast period. This is due to the growing demand for chemotherapy as it is a drug treatment that uses chemicals for killing the fast growing cells in the body, the demand is growing worldwide. The targeted therapy segment is anticipated to grow at a profitable CAGR during the forecast period, due to the application of highly efficient drugs delivery due to targeted therapy.

Regional Insights

In 2021, North America accounted for the highest revenue share in the global market and is expected to maintain its dominance during the forecast period. This is attributed to the growing cases of lung cancer, rising geriatric population, and the shifting standard of living with growing smoking habits in the region. Asia Pacific market is projected to exhibit the fastest CAGR over the forecast period owing to the increase in awareness about improved healthcare, growing government and private sector investment in healthcare industry, increasing aged population, and availability of skilled labor forces at economic costs, are the major factors in this region.

Competitor Insights

Some of the key players in the lung cancer therapeutics market are AstraZeneca (U.K.); Boehringer Ingelheim (Germany); Bristol-Myers Squibb Company (U.S.); Eli Lilly and Company (U.S.); Genentech, Inc. (U.S.); GlaxoSmithKline plc (U.K.); F. Hoffmann-La Roche AG (Switzerland); Merck & Co., Inc. (U.S.); Pfizer, Inc. (U.S.); and Ventana Medical Systems, Inc. (U.S.). The leading players operating in the lung cancer therapeutics industry are adopting various strategies including R&D investments, new technology launches, mergers & acquisitions, and regional expansions to capture a maximum revenue share.

This exhaustive research report focuses on market size and forecast at global, segmental, regional and country level along with key market trends and dynamics from 2021 to 2029. The lung cancer therapeutics market report is categorized into the following segments and subsegments.