Rising Demand for Minimally Invasive Treatments and Technological Innovations Drive Growth in Lung Cancer Market

The global lung cancer market size was USD 29.8 Billion in 2022 and is expected to register a rapid revenue CAGR of 11.6% during the forecast period. The global lung cancer market is experiencing significant growth, propelled by an increasing demand for minimally invasive treatments and advancements in cancer care technologies. This surge is primarily fueled by the growing prevalence of lung cancer and the ongoing shift toward innovative treatments, especially immunotherapy, that leverage the body's immune system to target cancer cells effectively.

Lung cancer continues to be a pressing health concern worldwide, with the World Health Organization reporting that cancer is responsible for about 10 million deaths annually, with lung cancer being the second most common form globally. The American Cancer Society estimates around 1.9 million new cancer cases and 609,360 cancer deaths were recorded in 2022, highlighting the need for enhanced treatment options.

Key Market Drivers

Breakthroughs in Immunotherapy

Recent developments in immunotherapy are transforming lung cancer treatment, offering targeted approaches that are often more effective than traditional chemotherapy and radiation for various types of lung cancer. Notable advancements include PD-L1 and CTLA-4 drugs, which attack specific mutations within cancer cells. Next-generation immunotherapies, including nanomedicine, gene therapy, artificial intelligence (AI), and machine learning (ML), are also emerging as promising treatments, making therapies more precise and effective.

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Rising Lung Cancer Cases

The increasing prevalence of lung cancer is a critical driver for market expansion. In 2020, over 2.2 million new cases of lung cancer were reported globally. Smoking remains the leading cause, contributing to approximately 85% of cases. In response, healthcare providers are emphasizing early diagnosis and prevention, as well as treatment innovations that improve patient outcomes.

Advances in Minimally Invasive Procedures

Minimally invasive surgical techniques are also on the rise, reducing pain, scarring, and recovery time for patients. These procedures have become popular for their reduced risks of infection and shorter hospital stays, which further drives demand. A notable advancement occurred in November 2021 when GE Healthcare partnered with Optellum to improve lung cancer diagnosis, which could lead to timely and precise treatment.

Market Restraints

While advancements are transforming lung cancer treatment, high costs continue to pose challenges, particularly in low and middle-income countries where access to affordable care remains limited. The limited scope of reimbursement policies further hinders widespread access to advanced therapies, creating disparities in treatment availability.

Market Insights by Type

The global lung cancer market is segmented primarily into non-small cell lung cancer (NSCLC) and small cell lung cancer (SCLC). NSCLC accounts for the largest market share due to its slower growth rate and treatability with various therapies, including surgery and chemotherapy. Among NSCLC subtypes, adenocarcinoma is the most common, particularly affecting individuals who have smoked.

The SCLC segment, known for its aggressive nature and rapid spread, is expected to witness steady growth due to rising awareness and advances in treatment methods. SCLC is often harder to treat, as it spreads quickly to other body parts, making early detection crucial.

Treatment Segment Insights

Among treatment options, targeted therapy dominates the market, driven by its effectiveness in treating lung cancer. Targeted therapies specifically address molecular abnormalities in cancer cells, proving more successful than traditional chemotherapy and with fewer side effects. Recently, Mirati Therapeutics received marketing authorization for KRAZATI, a targeted therapy approved in the UK for adult NSCLC patients, underscoring the segment's rapid growth.

Chemotherapy remains a cost-effective treatment, especially in low-resource settings. Advances in chemotherapy regimens have made it more appealing for patients seeking combination therapies, including surgery and radiation. This adaptability, along with the affordability of chemotherapy, continues to support its usage in lung cancer treatment worldwide.

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End-Use Market Insights

Hospitals hold the largest revenue share in the lung cancer market due to their access to advanced treatments, including immunotherapies and targeted therapies. The availability of comprehensive cancer care services, advanced equipment, and rising patient admissions contribute to the hospitals segment's dominance. As lung cancer cases continue to rise, hospitals are expected to remain a primary choice for patients seeking specialized care.

Lung Cancer Top Companies and Competitive Landscape

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

Lung Cancer Latest Industry Updates

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.

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Lung Cancer Market Segmentation 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)

Small Cell Lung Cancer

Non-Small Cell Lung Cancer (NSCLC)

Treatment Outlook (Revenue, USD Billion; 2019-2032)

Targeted Therapy

Chemotherapy

Radiotherapy

Photodynamic Therapy

Others

End-Use Outlook (Revenue, USD Billion; 2019-2032)

Hospitals

Clinic

Research Institute

Regional Outlook (Revenue, USD Billion; 2019-2032)

North America

U.S.

Canada

Europe

Germany

France

UK

Italy

Spain

Benelux

Russia

Rest of Europe

Asia Pacific

China

Japan

South Korea

India

ASEAN Countries

Oceania

Rest of APAC

Latin America

Brazil

Mexico

Rest of LATAM

Middle East & Africa

GCC Countries

Israel

Turkey

South Africa

Rest of Middle East & Africa

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A Journey Through Market Analysis: Exploring Related Reports

Lung Cancer Market Size @ https://www.emergenresearch.com/industry-report/lung-cancer-market/market-size

Lung Cancer Market Share @ https://www.emergenresearch.com/industry-report/lung-cancer-market/market-share

Lung Cancer Market Trends @ https://www.emergenresearch.com/industry-report/lung-cancer-market/market-trends

Lung Cancer Regional Market Demand @ https://www.emergenresearch.com/industry-report/lung-cancer-market/regional-market-demand

Lung Cancer Market Analysis @ https://www.emergenresearch.com/industry-report/lung-cancer-market/market-analysis

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