Lung Cancer Therapeutics Market Share Value, Size Value, Current Trends, Future Dynamics and COVID-19 Impact Analysis

Lung Cancer Market Trends, Growth and Size Analysis by Type (SCLC and NSCLC), Treatment (Surgery, Chemotherapy, Radiotherapy, Photodynamic Therapy (PDT) and Laser Therapy), End User (Hospital & Clinics, Cancer Research Centers and Laboratories) and Region (North America, Europe, Asia-Pacific and Middle East & Africa) - Global Forecast till 2023

Lung Cancer Therapeutics Market Landscape

Market Research Future has reviewed the global lung cancer therapeutics market 2020 parameters and came to a verdict that the market is showing a positive approach with estimating a CAGR of 13.5% despite the on-going COVID 19 pandemic. Thus, at this pace, the cancer market would gain revenue of USD 36,929.9 million by the year 2023. The entire growth process of the market’s growth would take place through the years 2014–2023—the forecasted period.

The existing market players operating in the global market are continuously focusing on constant innovation and up-gradation of the product portfolio with new and efficient product offerings for better treatment for the patients. Lung cancer is among the most frequently stirring cancers in the world and contributes to a significant number of deaths worldwide.

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The global lung cancer therapeutics market might achieve an elevated growth rate in support of factors such as the growing number of people suffering from lung cancer. There is still a noteworthy need for treatment and diagnostic for the advanced stages of lung cancer. The probable drivers for the global lung cancer therapeutics market include mounting geriatric population, changing lifestyle, and growing smoking of tobacco, mainly passive smoking.

MRFR fetched more factors triggering growth, such as targeted and groundbreaking delivery of drugs to the lung coupled with increasing acceptance of personalized treatments. These have been considered as an essential factor driving the overall market of lung cancer on a global level. In fact, a considerable increase in cancer awareness in developing as well as developed nations, along with the emergence of new medical diagnostic equipment and advanced therapeutics, have augmented the number of lung cancer diagnoses. These factors have been propelling the lung cancer therapeutics market growth mainly.

At the same time, the mounting investments by foremost players in research and development activities are also boosting the global cancer market growth. The modification in the market is primarily driven by a greater focus towards the R&D initiatives owing to rising instances of lung cancer. Some of the other factors also contributing to the lung cancer therapeutics market growth are the boost in the number of individuals who smoke and exposure to toxins. The introduction of novel and sophisticated targeted therapies such as VIZIMPRO by Pfizer Inc. might compel global lung cancer growth in the forecast period.

Lung Cancer Therapeutics Market Segment Review

The global lung cancer therapeutics market is studied under the segments of type, treatment, and end-user.

By the segment of type, the lung cancer therapeutics market has included SCLC and NSCLC.

By the segment of treatment, the lung cancer therapeutics market has included chemotherapy, surgery, photodynamic therapy (PDT), radiotherapy, and laser therapy.

By the segment of end-user, the lung cancer therapeutics market has included cancer research centers, hospitals & clinics, and laboratories. The hospital and clinic segment grabbed a lung cancer therapeutics market value of USD 5,820.5 million in the year 2016.

Lung Cancer Therapeutics Market Regional Framework

North America led the global lung cancer therapeutics market over the past few years. The towering demand in the region was sustained by factors of escalating occurrences of lung cancer and rising levels of the geriatric population. Along with it, the changing lifestyles with elevated smoking habits, which lead to a large pool of carcinoma lung population, is also liable for the colossal incidences of lung cancer in North America.

Asia-Pacific might also foresee the highest growth rate in the global lung cancer therapeutics market over the next eight years. Such an enormous growth might be for the growing awareness regarding enhanced health care and the occurrence of medical needs for cancer treatment in the emerging economies of India and China, which are yet untouched.

The preponderance of the revenue in the Asia Pacific will be generated by the promising nations of India and China, owing to the boost in the smoking population and people affected by lung cancer.

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Lung Cancer Therapeutics Market Top Vendors

The top vendors in the global lung cancer therapeutics market are Novartis AG (Switzerland), F. Hoffmann-La Roche Ltd (Switzerland), Merck & Co., Inc. (US), Pfizer Inc. (US), Eli Lilly and Company (US), Bristol-Myers Squibb Company (US), and Sanofi (France).

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Market Research Future

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