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Non-Small Cell Lung Cancer (Nsclc) Market Size, Product Trends, Key Drivers, Share Analysis And Forecast To 2033
Non-Small Cell Lung Cancer (Nsclc) Market Overview
According to The Business Research Company's, the gastrointestinal stromal tumor market size has grown strongly in recent years. It will grow from $1.18 billion in 2023 to $1.28 billion in 2024 at a compound annual growth rate (CAGR) of 8.1%. The growth in the historic period can be attributed to increased awareness and early diagnosis, emergence of targeted therapies, enhanced surgical techniques, development of personalized medicine, improvements in supportive care.
The gastrointestinal stromal tumor market size is expected to see strong growth in the next few years. It will grow to $1.69 billion in 2028 at a compound annual growth rate (CAGR) of 7.1%. The growth in the forecast period can be attributed to continued research and drug development, rise in patient-centric healthcare, integration of precision medicine in clinical practice, increasing access to targeted therapies, expanding genomic profiling capabilities. Major trends in the forecast period include growing collaboration in research and development, advancements in diagnostic technologies, collaborative research and clinical trials, increased focus on early detection and diagnosis, exploration of combination therapies.
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Market Drivers and Trends:
The increasing rate of tobacco consumption is expected to propel the growth of the non-small cell lung cancer (NSCLC) market going forward. Tobacco consumption refers to the use of tobacco products by individuals, typically in the form of smoking, chewing, or snuffing, which introduces nicotine and other chemicals into the body. Tobacco smoke contains several carcinogens that can damage the DNA (deoxyribonucleic acid) in lung cells, leading to mutations and the uncontrolled growth of cancerous cells, including non-small-cell lung cancer (NSCLC). For instance, in July 2022, according to Statistics Canada, a Canada-based government agency, cigarette production increased by 5.8% compared to June 2021. The total number of cigarettes sold rose 1.3% from May 2022, reaching 1.4 billion in June 2022. Therefore, the increasing rate of tobacco consumption is driving the growth of the non-small cell lung cancer (NSCLC) market.
Major Companies operating in the non-small cell lung cancer (NSCLC) market are focused on developing multiple treatment options, such as monotherapy treatments, to gain a competitive edge. Monotherapy treatment is the use of a single drug or therapy to treat a medical disorder or condition, and it involves utilizing a single method or treatment approach rather than a combination of multiple interventions. For instance, in June 2022, Novartis AG, a Switzerland-based pharmaceutical company, received approval from the European Commission (EC), a Belgium-based governing body, for Tabrecta (capmatinib) for the treatment of adult patients with advanced non-small cell lung cancer with METex14 skipping. It offers a novel targeted therapeutic option for patients in Europe who have received prior treatment and have advanced non-small cell lung cancer (NSCLC) that has mutations that cause MET exon 14 (METex14) skipping. It is the most popular targeted treatment for advanced NSCLC and has modifications that cause METex14 skipping.
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Major Key Players of the Market:
Pfizer Inc., F. Hoffmann-La Roche AG, Merck & Co. Inc., AbbVie Inc., Novartis AG, Sanofi S.A., Bristol-Myers Squibb Company, AstraZeneca plc, GlaxoSmithKline Plc, Takeda Pharmaceutical Company Limited, Eli Lilly and Company, Amgen Inc., Viatris Inc, Teva Pharmaceutical Industries Ltd., Regeneron Pharmaceuticals Inc., Astellas Pharma Inc., UCB S.A., Sun Pharmaceutical Industries Ltd., Dr. Reddy's Laboratories Ltd., Aurobindo Pharma Limited, Cipla Limited, Ferring B.V., Hikma Pharmaceuticals plc, Amneal Pharmaceuticals LLC, Zydus Lifesciences Ltd., Lupin Limited, Torrent Pharmaceuticals Ltd., Almirall S.A., Clovis Oncology, Revolution Medicines
Non-Small Cell Lung Cancer (NSCLC) Market 2024 Key Insights:
• The non-small cell lung cancer (nsclc) market is expected to grow to $29.95 billion in 2028 at a compound annual growth rate (CAGR) of 10.5%.
• Rising Tobacco Consumption Fuels Growth In The Non-Small Cell Lung Cancer (NSCLC) Market
• Rising Focus Of Companies To Embrace Advance Treatments To Gain Competitive Advantage
• North America was the largest region in the non-small cell lung cancer (NSCLC) market in 2023
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