Lung Cancer Therapy Market Business Growth, Size and Comprehensive Research Study Forecast to 2030

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.

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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

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. 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.

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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As per United States Preventive Services Task Force (USPSTF), people from the age range of 50-80 with a smoking history of 20 packs per year, either presently smoking or having quit within the last 15 years, are more susceptible to developing lung cancer in the US. Hence, the United States Preventive Services Task Force (USPSTF) recommends these people undergo low-dose computed tomography (LDCT) screening for lung cancer every year to ensure the early detection of lung cancer. In addition, in July 2022, the Biden Administration in the US introduced a new model that aims to improve cancer care and lower the treatment cost for patients who are covered under Medicare services.

In July 2021, Cancer Australia partnered with the Department of Health and Aged Care to evaluate the feasibility of a lung cancer screening program in Australia. After obtaining positive results of the feasibility assessment, in May 2023, the Department of Health and Aged Care, the Government of Australia, declared an investment of US$ 263.8 million for 2023-2024 for the implementation of the National Lung Cancer Screening Program across the country. Through this program, the Department of Health and Aged Care focuses on the prevention and early detection of lung cancer.

Further, the Beating Cancer Plan introduced by the European Health Union aims to tackle the entire disease pathway by focusing on prevention, treatment, and care of lung cancer patients.Thus, an upsurge in initiatives taken by governments for the early detection and proper treatment of lung cancer patients fuels the growth of the lung cancer therapy market.

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