High Prevalence of Lung Cancer in Developed Economies to Fuel Demand for Lung Cancer Therapeutics Market, Says TMR

In the last couple of years, lung cancer has become highly prevalent and has reported higher mortality compared to other types of cancer. In a report, titled “Lung Cancer Therapeutics Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2023,” Transparency Market Research (TMR) presents a comprehensive overview of various factors driving or restraining the market’s trajectory. The report also presents insights into the opportunities that the key players can capitalize on in the near future.

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Following the recent medical advances, effective methods of treating lung cancer are introduced. Currently, chemotherapy, radiation therapy, and surgery are the commonly adopted treatment options. Cyramza (Ramucirumab), Alimta (Pemetrexed Disodium), Xalkori (Crizotinib), and Avastin (Bevacizumab) are a few of the approved therapeutics for lung cancer.

According to the report, the rising adoption of personalized medicines will give significant impetus to the global lung cancer therapeutics market. On the flip side, patent expiry of blockbuster drugs pose a major threat to the market. Nevertheless, the launch of novel therapeutics could bolster opportunities for the lung cancer therapeutics manufacturers in the forthcoming years. However, this also creates opportunities for generic drug manufacturers, which could pose challenge to the existing market players. In order to gain sustainable growth, the leading companies in the market will therefore focus on expanding their operations in the low- and middle-income countries.

Besides this, the increasing cost of drug development has compelled manufacturers to cut down their investment in research and development. However, in order to gain competitive advantage, pharmaceutical companies are engaging in mergers and acquisitions. They are also looking to enter into strategic partnerships with companies boasting rich drug pipeline.

According to a research conducted by the World Cancer Research Fund International, over 58% of lung cancer cases stem from under-developed economies. Denmark, Serbia, Hungary, and Poland are a few of the countries exhibiting comparatively higher prevalence of lung cancer. The incidence of this ailment is also found quite high across major developing nations. For instance, China alone recorded of 653,000 cases of lung cancer in 2012. While these factors have supported the strong growth of the global lung cancer therapeutics market, they have been creating opportunities for the low cost generic drugs as well.

The market however is expected to gain significantly from the high treatment and diagnosis rate across developed countries in Europe and North America. The financial capability of people living in these regions to afford expensive treatments for lung cancer also makes North America and Europe lucrative markets for lung cancer therapeutics. Furthermore, the market is expected to witness robust opportunities in countries such as the U.S., Germany, France, Spain, Japan, Italy, and the U.K.

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Some of the leading companies expected to benefit from the aforementioned drivers include AstraZeneca plc, F. Hoffmann-La Roche Ltd, Sanofi-Aventis, Eli Lilly and Company, Pfizer, Inc., Daiichi Sankyo Co. Ltd., and others.

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This release was published on openPR.