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 9.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Non-small cell lung cancer refers to a type of lung cancer that accounts for around 85% of all lung cancer cases. The disease does not respond to treatments like chemotherapy that are used for small cell lung cancer. However, targeted therapies and immunotherapies are showing promising results in advanced non-small cell lung cancer treatment.
Market key trends:
One of the major trends in the global non-small cell lung cancer market size is the rising preference of targeted therapies over conventional chemotherapy. Targeted therapies like tyrosine kinase inhibitors address specific molecular targets involved in cancer pathogenesis and show better efficacy and tolerability as compared to chemotherapy. For example, drugs like gefitinib and erlotinib have largely replaced first-line chemotherapy as the standard treatment for non-small cell lung cancers driven by EGFR mutations. Immunotherapies are also emerging as an important treatment option and showing long-lasting responses. Drugs like pembrolizumab and nivolumab that boost the body’s natural defenses have demonstrated improved overall survival and are increasingly utilized in combination with other therapies.
SWOT Analysis
Strength: Non-small cell lung cancer is the most common type of lung cancer, accounting for around 85% of all cases. The availability of newer targeted therapies and immunotherapies provides effective treatment options.
Weakness: Unapproved combination treatments may lead to higher toxicity. Resistance develops against several therapies over time limiting efficacy of treatments.
Opportunity: Personalized medicine approaches involving biomarker testing help identify patients most likely to benefit from specific therapies. Ongoing clinical trials are exploring more targeted and novel treatment strategies.
Threats: Late diagnosis of disease poses challenge for treatment. Lifestyle factors such as smoking and air pollution contribute to high incidence rates.
Key Takeaways
The global non-small cell lung cancer market is expected to witness high growth, exhibiting CAGR of 9.4% over the forecast period, due to increasing adoption of targeted therapies and immunotherapies. The market size for 2023 is estimated to be US$ 27252.31 Mn.
North America is expected to dominate the non-small cell lung cancer market during the forecast period. This is attributed to growing incidence of lung cancer, availability of advanced treatment options, and favorable reimbursement policies in the region. Asia Pacific is anticipated to exhibit the fastest growth due to increasing healthcare expenditures, rising awareness regarding cancer, and improving diagnostic infrastructure.
Key players operating in the non-small cell lung cancer market are Pfizer Inc., AstraZeneca plc, F. Hoffmann-La Roche Ltd., Eli Lilly and Company, Boehringer Ingelheim GMBH, Novartis AG, Bristol-Myers Squibb Company, and Merck & Co., Inc. These manufacturers are strengthening their product pipelines through ongoing clinical trials and participating in mergers and acquisitions to solidify their market presence.
