Press release
Global Lung Cancer Drugs Market Competitive Strategies And Forecasts To 2024 - 2033
Lung Cancer Drugs Global Market
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the Lung Cancer Drugs industry. This report on Lung Cancer Drugs market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The lung cancer drugs market size has grown rapidly in recent years. It will grow from $42.3 billion in 2023 to $47.72 billion in 2024 at a compound annual growth rate (CAGR) of 12.8%. The growth in the historic period can be attributed to epidemiology and demographics, regulatory approvals, healthcare infrastructure, patient awareness and education.
The lung cancer drugs market size is expected to see rapid growth in the next few years. It will grow to $74.81 billion in 2028 at a compound annual growth rate (CAGR) of 11.9%. The growth in the forecast period can be attributed to health insurance and reimbursement policies, healthcare infrastructure and access, emerging markets. Major trends in the forecast period include advancements in targeted therapies, immunotherapy, genomic profiling, clinical trials and research
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Key Market Players:
Bristol-Myers Squibb Company, Merck & Co. Inc., F. Hoffmann-La Roche Ltd., Novartis AG, Pfizer Inc., GlaxoSmithKline PLC, Sanofi S.A., Sun Pharmaceutical Industries Ltd., Celgene Corporation, Mylan N.V.
Market Drivers:
Targeted drug therapy in combination with other therapies is an emerging trend in the lung cancer drugs market. It involves the use of immunotherapy drugs combined with other therapies such as chemotherapy that help in early diagnosis, prevention, and treatment of the disease. In this regard, drug manufacturers are developing targeted drug therapies for better diagnosis and treatment of lung cancer. For example, Merck and Co. developed pembrolizumab, which is a drug that helps the immune system to detect and fight cancer cells when used in addition to chemotherapy. This combination therapy showed an improvement in lung cancer status in patients. The drug is a major product of Merck and Co. and is sold under the brand name Keytruda.
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Market segments for Lung Cancer Drugs include:
1) By Drugs: Gemzar, Paraplatin, Taxotere, Navelbine, Avastin, Tarceva, Iressa, Other Drugs
2) By Disease Type: Small cell lung cancer (SCLC), Non-small cell lung cancer (NSCLC)
3) By End User: Hospitals, Clinics, Other End-Users
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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