The non-small cell lung cancer market comprises drugs used for treatment of the most common type of lung cancer. These drugs help in inhibiting tumor growth and improving survival rates. The need for effective targeted therapies and immunotherapies for non-small cell lung cancer is driving the market.
The global Non-Small Cell Lung Cancer Market is estimated to be valued at US$ 27252.31 Mn in 2023 and is expected to exhibit a CAGR of 7.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Immunotherapies have emerged as a major trend in the treatment of Global Non-Small Cell Lung Cancer Market Size. Drugs targeting the immune system by checkpoint inhibitors have shown promising results by improving overall survival. Checkpoint inhibitors help activate the body’s own immune cells to fight cancer cells. Increased adoption of immunotherapies either alone or in combination with other treatments is expected to boost the non-small cell lung cancer market during the forecast period.
SWOT Analysis
Strength: Advances in diagnostics and targeted therapies have improved treatment outcomes. Precision-based approaches allow for a more customized approach to care.
Weakness: Non-small cell lung cancer has a poor prognosis and survival rates remain low. The complex molecular nature of the disease poses challenges to treatment. Early detection rates are still low.
Opportunity: The emerging field of immuno-oncology holds promise for more effective treatment approaches. Combination therapies incorporating immunotherapy are being investigated. Emerging diagnostic technologies may help detect the disease earlier.
Threats: Treatment costs continue to rise due to expensive newer therapies. Tobacco use remains common in many regions and is a major risk factor. Air pollution is a growing concern and contributes to rising incidence.
Key Takeaways
The global non-small cell lung cancer market is expected to witness high growth. By 2030, the market size is projected to reach US$ 46,758.37 Mn, growing at a CAGR of 7.8% during the forecast period.
Regional analysis: North America currently dominates the global non-small cell lung cancer treatment market and is expected to lead in terms of revenue during the forecast period. Higher diagnosis and treatment rates contribute to the large market size. The Asia Pacific region is projected to grow at the fastest pace during the forecast period due to rising incidence in China, India and other countries due to increasing tobacco use and air pollution.
Key players: Key players operating in the non-small cell lung cancer 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. These companies are focused on developing advanced targeted therapies and immunotherapy approaches. Partnerships and combination regimens are also a key focus.
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1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it