11.6% CAGR of Lung Cancer Market to Gain Around USD 88.4 Billion by 2032 || Report by Emergen Research

The global lung cancer market is experiencing substantial growth, reaching a size of USD 29.8 Billion in 2022 and poised to expand at a rapid rate with a CAGR of 11.6% during the forecast period. Key factors propelling this growth include the escalating demand for minimally invasive procedures and notable advancements in lung cancer treatment technologies.

Immunotherapy Revolutionizing Lung Cancer Treatment

Immunotherapy stands out as a significant breakthrough in the lung cancer market, harnessing the body's immune system to combat cancer cells effectively. This approach has demonstrated superior efficacy compared to traditional chemotherapy and radiation therapy for various types of lung cancer. Particularly, the development of PD-L1 and CTLA-4 has marked a significant milestone, targeting specific mutations or proteins unique to individual cancer cells.

Integration of Innovative Technologies

The integration of innovative technologies such as Nanomedicine, Gene therapy, Artificial Intelligence (AI), Machine Learning (ML), and minimal invasive surgery is reshaping lung cancer treatment paradigms. These advancements enhance precision, durability, and the potential for combination therapies, fostering more effective patient outcomes.

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Escalating Prevalence of Lung Cancer

With the prevalence of lung cancer on the rise, it remains a leading cause of mortality worldwide. The World Health Organization (WHO) estimates approximately 10 million deaths attributable to cancer in 2020, with lung cancer ranking among the most common types. Smoking remains a predominant risk factor, contributing to approximately 85% of all lung cancer cases.

Technological Advancements in Minimally Invasive Procedures

Technological strides in minimally invasive procedures are driving market growth by reducing patient discomfort, scarring, and recovery time. Collaborations such as the one between GE Healthcare and Optellum signify a commitment to advancing precision diagnosis and treatment, addressing critical challenges in lung cancer management.

Market Restraints and Segment Insights

Challenges persist in ensuring access to affordable treatments, particularly in low/middle-income countries. However, segmented insights reveal promising trends, with NSCLC dominating the market due to its slower growth compared to Small Cell Lung Cancer (SCLC). Targeted therapy emerges as a frontrunner, offering precise treatment tailored to molecular abnormalities within cancer cells. Chemotherapy, albeit steadily growing, remains a cost-effective option, especially in resource-limited settings.

Dominance of Hospitals Segment

Hospitals emerge as key players in the lung cancer market, accounting for the largest revenue share. Their access to cutting-edge therapies, advanced equipment, and comprehensive patient care services positions them as preferred destinations for lung cancer treatment.

In conclusion, the global lung cancer market is witnessing remarkable growth propelled by technological innovations, rising prevalence, and evolving treatment modalities. As stakeholders continue to collaborate and innovate, the outlook for lung cancer patients is increasingly promising.

The global lung cancer market is fairly fragmented with many large and medium-sized players accounting for majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective lung cancer solutions.

Some major players included in the global lung cancer market report are:
• AstraZeneca
• GSK
• Roche
• Sanofi
• SUN PHARMA
• Bristol Myers Squibb
• Johnson and Johnson
• Eli Lilly and Company
• Pfizer
• Novartis

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Lung Cancer Latest Industry News

• On 10 August 2023, Bristol Myers Squibb acquired Mirati therapeutics with the UK government to supply personalized mRNA cancer immunotherapies. Through this acquisition, Bristol Myers Squibb added KRAZATI, an important lung cancer medicine, to its commercial portfolio. The acquisition of Mirati Therapeutics is a strategic move that aligns with Bristol Myers Squibb's long-term goals of enhancing its oncology portfolio and KRAS and MTAP pathway targeting capabilities, accelerating drug development, and gaining access to Mirati therapeutics.

• On 30 December 2021, Blueprint Medicines Corporation acquired Lengo Therapeutic and lead compound LNG-451. This is a potential best-in-class oral precision therapy in development for the treatment of NSCLC. This acquisition of Lengo Therapeutics and its lead candidate LNG-451 enables Blueprint Medicines to expand the pipeline in lung cancer. LNG-451 has the potential to improve treatment outcomes for NSCLC patients with EGFR exon 20 insertion mutations. This drug is designed to be more selective and potent than current therapies, and it may have fewer side effects.

Lung Cancer Market Segment Analysis

For the purpose of this report, Emergen Research has segmented the global Lung cancer market on the basis of type, Indication, end-use, and region:

• Type outlook (Revenue, USD Billion; 2019-2032)
o Small Cell Lung Cancer
o Non-Small Cell Lung Cancer (NSCLC)

• Treatment Outlook (Revenue, USD Billion; 2019-2032)
o Targeted Therapy
o Chemotherapy
o Radiotherapy
o Photodynamic Therapy
o Others

• End-Use Outlook (Revenue, USD Billion; 2019-2032)
o Hospitals
o Clinic
o Research Institute

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• Regional Outlook (Revenue, USD Billion; 2019-2032)
o North America
1. U.S.
2. Canada
o Europe
1. Germany
2. France
3. UK
4. Italy
5. Spain
6. Benelux
7. Russia
8. Rest of Europe
o Asia Pacific
1. China
2. Japan
3. South Korea
4. India
5. ASEAN Countries
6. Oceania
7. Rest of APAC
o Latin America
1. Brazil
2. Mexico
3. Rest of LATAM
o Middle East & Africa
1. GCC Countries
2. Israel
3. Turkey
4. South Africa
5. Rest of Middle East & Africa

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