Global Lung Cancer Therapeutics Market
Lung cancer or lung carcinoma is the disease characterized by the abnormal proliferation of tumour cells in the lung tissues. Lung cancer is classified into 3 types namely lung carcinoid tumour, small cell lung cancer, and non-small cell lung cell cancer. Common symptoms associated with the lung cancer include a cough, weight loss, shortness of breath, and chest pains. Smoking and prolonged use of tobacco are the common risk factors for the lung cancer. Lung cancer can be diagnosed by the biopsy performed by using CT-guidance or bronchoscopy. Lung cancer can be treated by radiotherapy, chemotherapy, and surgery.
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Increasing pollution owing to rapid industrialization, a rise in the number of tobacco consumption and smoking population, growing government funding for the R&D activities, and rise in demand for targeted therapies are anticipated to fuel the growth of lung cancer therapeutics market. Moreover, innovation of newer radiotherapies, a launch of low priced generic drugs, and rise in prevalence of non-small cell lung cancer are expected to propel the lung cancer therapeutics market over the forecast period. However, stringent regulatory policies, patent expiry of lung cancer therapeutics, poor cancer diagnostics in underdeveloped countries, and adverse effects associated with the treatment might hamper the growth of lung cancer therapeutics market.
Lung cancer therapeutics market segmented based on the treatment type, disease type, and end user
Based on the drug type, lung cancer therapeutics market segmented into the following:
Based on the disease type, lung cancer therapeutics market segmented into the following:
Small cell lung cancer
Non-small cell lung cancer
Large carcinoid tumour
Based on the end user, lung cancer therapeutics market segmented into the following:
Ambulatory surgical centers
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Global lung cancer therapeutics market is growing at a significant CAGR over the forecast timeframe owing to increase in the R&D activities clinical trials for the innovation of new drugs and vaccines for the treatment of lung cancer. Increase in the prevalence of lung cancer (according to world cancer research fund international 2012, lung cancer was the most common cancer which contributes 13% share of the new cancer cases diagnosed) also propelling the lung cancer therapeutics market. Acquisitions & mergers, collaborations are the key strategies adopted by the players to gain revenue growth in lung cancer therapeutics market. For instance, in November 2015, Eli Lilly and Co. and Merck & Co., Inc. collaborated to evaluate the efficacy and safety of a combination of the Alimta and Keytruda under phase III trials for the treatment of non-small cell lung cancer. Moreover, in January 2016, VisionGate acquired a patent from University of Colorado for Iloprost used in the treatment of lung cancer. Similarly, In September 2014, Asterias Biotherapeutics collaborated with Cancer Research UK for the development of a vaccine for the treatment of non-small cell lung cancer.
Geographically, Lung cancer therapeutics market is segmented into the Europe, Latin America, Asia Pacific, Middle East and Africa, and North America. North America lung cancer therapeutics market is growing due to increase in the prevalence of lung cancer majorly in U.S. (according to CDC 2014, about 215,951 people diagnosed with lung cancer and 155,526 people died of the lung cancer). In addition, increase the funding for the R&D activities, and early diagnosis of the disease is expected to propel the lung cancer therapeutics market in North America. In Europe region, rise in the prevalence of lung cancer majorly in Hungary, Serbia, U.K and other Europe countries (according to Cancer Research UK, about 46,403 new lung cancer in the UK and 35,895 people died of the disease), rise in the government funding for lung cancer R&D activities, and advanced healthcare infrastructure are boosting the lung cancer therapeutics market. Asia Pacific region is exhibiting significant growth in lung cancer therapeutics market owing to rapid industrialization and availability of low-cost generic products in the region.
Some of the players in lung cancer therapeutics market are Eli Lilly and Company (U.S.), GlaxoSmithKline Plc (U.K.), AstraZeneca (U.S.), Pfizer, Inc. (U.S.), F. Hoffmann-La Roche Ltd. (Switzerland), Merck & Co. Inc. (U.S.), Boehringer Ingelheim GmbH (Germany), Novartis AG (Switzerland), Takeda Pharmaceuticals Co. Ltd. (Japan), Abbvie, Inc. (U.S.), VisionGate, Inc. (U.S.), and Asterias Biotherapeutics (Biotime) (U.S.) to name a few.
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In April 2018, Takeda Pharmaceutical received an approval from FDA for Alunbrig (brigatinib) used in the treatment of ALK+ non-small cell lung cancer
In April 2018, AstraZeneca received approval from European Commission for the marketing authorization of Tagrisso used in the treatment of non-small cell lung cancer
Details of the market study:
- Historical Data: 2014 & 2017
- Base Year: 2018
- Forecasts: 2019-2025
- CAGR: 2019-2025
- Market trend analysis in terms of drivers, restraints and opportunities
- Industry analysis using Porter’s, PESTEL and SWOT
- Market estimates and forecasts available for the following regions and countries:
- North America (U.S. & Canada)
- Europe (UK & Germany)
- Asia Pacific (Japan & China)
- Latin America (Brazil, Mexico)
- MEA (South Africa)
- Market players analysis in terms of company’s overview, financial performance, product/service benchmarking and strategic initiatives taken up by them
This post was originally published on Space Market Research