Press release
Lung Cancer Prevalence Driving The Lung Cancer Drugs Market: Core Growth Enabler in the Lung Cancer Drugs Market, 2025
Lung Cancer Drugs Market
What Will the Lung Cancer Drugs Industry Market Size Be by 2025?
The market for lung cancer medications has seen a swift expansion in previous years. The market size is projected to escalate from $47.94 billion in 2024 to $54.13 billion in 2025, with a compound annual growth rate (CAGR) of 12.9%. Factors contributing to this growth over the historical period include epidemiology and demographics, regulatory sanctions, enhancements in healthcare infrastructure, and increased patient consciousness and education.
What's the Long-Term Growth Forecast for the Lung Cancer Drugs Market Size Through 2029?
Expectations are high for the lung cancer drugs market size, which is predicted to experience swift expansion in the coming years. The sector is forecasted to reach $82.14 billion by 2029, progressing at a compound annual growth rate (CAGR) of 11.0%. Health insurance and reimbursement policies, along with healthcare infrastructure and access to emerging markets, contribute to this growth within the forecast period. The period also illustrates key trends including advancements in targeted therapies, immunotherapy, genomic profiling, as well as research and clinical trials.
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What Are the Key Growth Drivers Fueling the Lung Cancer Drugs Market Expansion?
The escalating rates of lung cancer prevalence are a significant growth propellant for the lung cancer drugs market. Primarily, the increase in occurrence and incidence of lung cancer cases stimulates the demand for medications that deliver rapid and efficient disease treatment. It further compels the sector to ensure a robust drug pipeline. For example, the American Cancer Society, a volunteer health organization based in the US with a mission to eradicate cancer, reported approximately 238,340 new lung cancer cases (117,550 in men and 120,790 in women) in January 2023. Additionally, about 127,070 lung cancer-related fatalities were predicted-67,160 in men and 59,910 in women. Therefore, the escalating prevalence of lung cancer is propelling the expansion of the lung cancer drugs market.
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What Are the Key Trends Driving Lung Cancer Drugs Market Growth?
The usage of targeted medicinal treatment along with other types of treatments is an increasing trend in the market of lung cancer treatments. This method includes the application of immunotherapy medications merged with other treatments such as chemotherapy. These help in the early detection, prevention, and management of this condition. Therefore, pharmaceutical companies are focusing on the development of these targeted medical therapies for an improved diagnosis and treatment of lung cancer. For instance, Merck and Co. formulated a medication named pembrolizumab that aids the body's immune system in identifying and combating cancer cells when used in conjunction with chemotherapy. This amalgamated treatment demonstrated a positive impact on the health status of lung cancer patients. This successful medication is a leading product by Merck and Co. and is marketed under the name Keytruda.
How Is the Lung Cancer Drugs Market Segmented?
The lung cancer drugs market covered in this report is segmented -
1) By Drugs: Gemzar, Paraplatin, Taxotere, Navelbine, Avastin, Tarceva, Iressa, Other Drugs
2) By Disease Type: Small cell lung cancer (SCLC), Non-small cell lung cancer (NSCLC)
3) By End User: Hospitals, Clinics, Other End-Users
Subsegmentation:
1) By Gemzar: Generic Gemcitabine, Combination Therapies With Gemzar
2) By Paraplatin: Generic Carboplatin, Combination Therapies With Paraplatin
3) By Taxotere: Generic Docetaxel, Combination Therapies With Taxotere
4) By Navelbine: Generic Vinorelbine, Combination Therapies With Navelbine
5) By Avastin: Biosimilars Of Bevacizumab, Combination Therapies With Avastin
6) By Tarceva: Generic Erlotinib, Combination Therapies With Tarceva
7) By Iressa: Generic Gefitinib, Combination Therapies With Iressa
8) By Other Drugs: Immune Checkpoint Inhibitors (Pembrolizumab, Nivolumab), Targeted Therapies (Osimertinib, Crizotinib), Chemotherapy Drugs (Paclitaxel, Cisplatin)
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Which Companies Are Leading the Charge in Lung Cancer Drugs Market Innovation?
Major companies operating in the lung cancer drugs market include Bristol-Myers Squibb Company, Merck & Co. Inc., F. Hoffmann-La Roche Ltd., Novartis AG, Pfizer Inc., GlaxoSmithKline plc, Sanofi S.A., Sun Pharmaceutical Industries Ltd., Celgene Corporation, Mylan N.V., Ono Pharmaceutical Co. Ltd., Teva Pharmaceutical Industries Ltd., Takeda Pharmaceutical Company Limited, Ziopharm Oncology Inc., Menarini Group, AstraZeneca PLC, Shanghai Jinhe Bio-Technology Co. Ltd., Nlyte Software, AbbVie Inc., Bayer AG, Boehringer Ingelheim International GmbH, Daiichi Sankyo Company Limited, Eli Lilly and Company Inc., Johnson & Johnson, Amgen Inc., Array BioPharma Inc., Astellas Pharma Inc., Biogen Inc., Clovis Oncology Inc., Eisai Co. Ltd., Exelixis Inc., Genentech Inc., Gilead Sciences Inc., Incyte Corporation, Ipsen Biopharmaceuticals Inc., Jazz Pharmaceuticals plc, Karyopharm Therapeutics Inc., Kyowa Kirin Co. Ltd., Loxo Oncology Inc., MedImmune LLC
Which Regions Are Leading the Global Lung Cancer Drugs Market in Revenue?
North America was the largest region in the lung cancer drugs market in 2023. Middle East is expected to be the fastest-growing region in the lung cancer drugs market during the forecast period. The regions covered in the lung cancer drugs market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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