The non-small cell lung cancer market consists of products used for diagnosis and treatment of the disease. Non-small cell lung cancer accounts for about 85% of all lung cancers and develops in the tissues of the lungs, except for the small cell lung cancer. The market includes targeted therapies, chemotherapy, radiation therapy, and surgery for non-small cell lung cancer treatment.
The global non-small cell lung cancer market is estimated to be valued at US$ 31394.67 Bn in 2024 and is expected to exhibit a CAGR of 7.8% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the Non-Small Cell Lung Cancer Market Demand 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. The increasing number of cases of non-small cell lung cancer and growing awareness about the disease treatment options are fueling the demand for non-small cell lung cancer therapies across major markets. Furthermore, key players are expanding their presence globally with focus on emerging markets to tap new opportunities.
The growing prevalence of tobacco smoking, exposure to secondhand smoke, air pollution and family history of lung cancer are contributing to the increasing incidence of non-small cell lung cancer. As per Globe Cancer, lung cancer accounts for about 13% of total new cancer cases reported annually. The rising disease burden is driving the demand for diagnosis and treatment of non-small cell lung cancer.
Major players in the market are focusing on expanding their geographic presence with focus on emerging markets like China, India, Brazil and Mexico. Increasing healthcare expenditure, rising disposable income and growing awareness about early diagnosis are factors supporting the market growth in developing nations. Strategic collaborations and partnerships between global and local players will further aid in addressing the rising disease burden in emerging countries.
Market Key Trends
Increased adoption of targeted therapies is a key trend in the Non-Small Cell Lung Cancer Market. Targeted therapies act on specific molecular targets associated with cancer growth and progression. Drugs like gefitinib, erlotinib and afatinib which target EGFR mutation, and bevacizumab targeting VEGF are replacing chemotherapy as first line treatment for selected patients. Osimertinib targeting T790M mutation in EGFR gene has shown promising results in overcoming resistance to first-line EGFR inhibitors. Personalized medicine approach using companion diagnostics for patient selection is another evolving trend in non-small cell lung cancer treatment. This is expected to significantly improve clinical outcomes and quality of life of patients.
Porter’s Analysis
Threat of new entrants: High capital requirement and stringent regulatory approvals create significant entry barriers for new players in this market.
Bargaining power of buyers: Buyers have moderate bargaining power as Non-small Cell Lung Cancer treatment has limited product differentiation.
Bargaining power of suppliers: A few global players dominate the supply market.
Threat of new substitutes: There exist limited treatment alternatives with proven efficacy for Non-small Cell Lung Cancer currently.
Competitive rivalry: Major players compete on the basis of product differentiation, clinical trial results and marketing.
Geographical Regions
North America currently holds the largest share of the global Non-small Cell Lung Cancer market in terms of value due to growing incidences of lung cancer and advanced healthcare infrastructure. The Asia Pacific region is expected to grow at the fastest CAGR during the forecast period owing to increasing healthcare spending, large patient population and improving access to diagnosis and treatment.
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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