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Lung Cancer Drugs Market Report 2024: Strategies And Recent Developments | Bristol-Myers Squibb Company, Merck & Co. Inc., F. Hoffmann-La Roche Ltd., Novartis AG, Pfizer Inc.,
The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2033The Business Research Company offers in-depth market insights through Lung Cancer Drugs Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
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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Market Segmentation:
The main types of diseases in lung cancer drugs are small cell lung cancer (SCLC) and non-small cell lung cancer (NSCLC). Small cell lung cancer is a type of lung cancer that grows quickly in the lungs' tissues. Small cell lung cancer has often expanded (metastasized) outside of the lungs by the time a person receives a diagnosis. This malignancy is also more likely to recur after therapy than other types of lung cancer. The different types of drugs include Gemzar, paraplatin, Taxotere, navelbine, avastin, Tarceva, Iressa, and others and are used in various sectors such as hospitals, clinics, and others.
Major Driver - Lung Cancer Prevalence Driving The Lung Cancer Drugs Market
The rising prevalence rate of lung cancer is a major driver for the lung cancer drugs market. This is mainly because an increase in the prevalence and incidence rate of lung cancer cases propels the need for drugs that enable efficient and fast treatment of the disease. It also drives the industry to maintain a strong pipeline of drugs. For instance, in January 2023, according to the American Cancer Society, a US-based voluntary health organization dedicated to eliminating cancer, about 238,340 new cases of lung cancer (117,550 in men and 120,790 in women) and about 127,070 deaths from lung cancer (67,160 in men and 59,910 in women) were estimated in 2023. Therefore, the rising prevalence rate of lung cancer is driving the growth of the lung cancer drugs market.
Competitive Landscape:
Major companies operating in the lung cancer drugs market include 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., Ono Pharmaceutical Co. Ltd., Teva Pharmaceutical Industries Ltd., Takeda Pharmaceutical Company Limited, Ziopharm Oncology Inc., Menarini Group, AstraZeneca PLC, Shanghai Jinhe Bio-Technology Co. Ltd., Nlyte Software, AbbVie Inc., Bayer AG, Boehringer Ingelheim International GmbH, Daiichi Sankyo Company Limited, Eli Lilly and Company Inc., Johnson & Johnson, Amgen Inc., Array BioPharma Inc., Astellas Pharma Inc., Biogen Inc., Clovis Oncology Inc., Eisai Co. Ltd., Exelixis Inc., Genentech Inc., Gilead Sciences Inc., Incyte Corporation, Ipsen Biopharmaceuticals Inc., Jazz Pharmaceuticals plc, Karyopharm Therapeutics Inc., Kyowa Kirin Co. Ltd., Loxo Oncology Inc., MedImmune LLC
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Top Trend - Introducing Targeted Drug Therapy In Combination With Other Therapies For Lung Cancer Treatment
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.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Lung Cancer Drugs Market Characteristics
3. Lung Cancer Drugs Market Trends And Strategies
4. Lung Cancer Drugs Market - Macro Economic Scenario
5. Lung Cancer Drugs Market Size And Growth
…..
27. Lung Cancer Drugs Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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