Lung Cancer Therapy Market Competition to Heat Up with Launch Innovative Technologies Reported Worldwide

The Lung Cancer Therapy Market is expected to grow from US$ 31,018.32 million in 2022 to US$ 80,493.84 million by 2030; it is anticipated to record a CAGR of 12.7% from 2022 to 2030.

Targeted therapy, a type of personalized medicine, is a combination of two or more drugs, designed to directly target the cancerous cells. Therapies such as ablation and chemotherapy destroy healthy cells along with infected cells, which can affect the overall patient condition. Targeted therapy is designed in a way to selectively kill cancerous cells, keeping the function of healthy cells unhampered. With recent developments in medical technologies, focus on the use of targeted therapy for the treatment of lung cancer is increasing notably. Scientists are focusing on studying lung cancer cell mutations that are responsible for driving the uncontrolled growth of cancerous cells. In May 2021, the US Food and Drug Administration approved Lumakras (sotorasib), the first treatment for adult non-small cell lung cancer patients.

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Analysis of the Top Market Players:

1. Medtronic PLC
2. RF Medical Co Ltd
3. Johnson & Johnson
4. Merck KGaA
5. Sun Pharmaceutical Industries Ltd
6. Bioventus Inc
7. Meiji Seika Pharma Co Ltd
8. Advanz Pharma Corp
9. Olympus Corp

In this report, the market has been segmented on the basis of:

Therapy Type
• Noninvasive
• Minimally Invasive

Indication
• Non-Small Cell Lung Cancer
• Small Cell Lung Cancer

End User
• Hospitals
• Oncology Clinics
• Research Centers

This therapy is given to patients who have KRAS G12C mutation and have received at least one prior systemic therapy. The companies are using biomarkers such as EGFR, ALK, ROS1, and KRAS to develop targeted therapies, which help detect the type of mutation in the cancerous cells. Thus, the increasing focus of companies on the development of targeted therapies, coupled with the growing awareness about their benefits to lung cancer patients, is expected to bring new trends in the lung cancer therapy market in the coming years.

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Government Initiatives for Screening and Treatment of Lung Cancer drives the growth the Lung Cancer Therapy Market
According to an article published by Johnson & Johnson, lung cancer is a leading cause of cancer mortality in the world, and it is generally detected in the later stages. In the initial stages, people with lung cancer show no prominent symptoms, and therefore, in almost 50% of the detected cases, cancer has already reached the metastasis stage. In response to the seriousness of this condition, governments of various countries are focusing on introducing initiatives for encouraging early detection and screening, followed by providing early treatment for lung cancer.

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