Press release
Future of the Lung Cancer Drugs Market: Trends, Innovations, and Key Forecasts Through 2034
Lung Cancer Drugs
Lung Cancer Drugs Market Size Growth Forecast: What to Expect by 2025?
Rapid expansion has been observed in the lung cancer drugs market size in the past few years. The market, which is predicted to escalate from $47.65 billion in 2024 to $52.98 billion in 2025, is expected to witness a compound annual growth rate (CAGR) of 11.2%. Factors contributing to the growth during the historic period include epidemiology and demographics, regulatory approvals, improvements in healthcare infrastructure, and increased patient awareness and education.
How Will the Lung Cancer Drugs Market Size Evolve and Grow by 2029?
Expectations are set high for the lung cancer drugs market with a swift expansion projected in the forthcoming years. Anticipated to balloon up to "$79.45 billion in 2029", the compound annual growth rate (CAGR) will potentially be at 10.7%. Elements that contribute to this growth within the anticipated duration include health insurance and reimbursement strategies, healthcare infrastructure and availability, along with promising markets. Expansion trends within this period are likely to be driven by advancements in targeted therapies, immunotherapy, genomic profiling, and an increase in clinical trials and research.
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What Drivers Are Propelling the Growth of Lung Cancer Drugs Market Forward?
The lung cancer drugs market is primarily driven by the substantial increase in lung cancer occurrences. Such escalating incidence rate of lung cancer cases necessitates the need for medications that can offer swift and effective treatment of the condition, thereby propelling the market. It also necessitates the sector to sustain a robust drug pipeline. For instance, the American Cancer Society, a voluntary health organization based in the US aiming at eradicating cancer, reported in January 2023 that there were approximately 238,340 new lung cancer cases (117,550 in men and 120,790 in women), and about 127,070 lung cancer deaths (67,160 in men and 59,910 in women) anticipated in 2023. Hence, the increased occurrence of lung cancer considerably fuels the expansion of the lung cancer drugs market.
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What Long-Term Trends Will Define the Future of the Lung Cancer Drugs Market?
The combination of targeted drug therapy with other treatments is a rising trend within the market for lung cancer medications. This approach encompasses the incorporation of immunotherapy drugs with other therapies like chemotherapy, aiding in early identification, prevention, and management of the illness. In line with this, pharmaceutical companies are creating targeted drug therapies to enhance the diagnosis and treatment of lung cancer. For instance, Merck and Co. pioneered the development of pembrolizumab, a drug that bolsters the immune system's ability to identify and combat cancer cells when used alongside chemotherapy. This confluence of therapies has demonstrated progress in the condition of lung cancer patients. Merck and Co. is the principal producer of this drug, which is marketed under the brand name Keytruda.
What Are the Key Segments in the Lung Cancer Drugs Market?
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
Subsegments:
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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Who Are the Key Players Shaping the Lung Cancer Drugs Market's Competitive Landscape?
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
What Geographic Markets Are Powering Growth in the Lung Cancer Drugs Market?
North America was the largest region in the lung cancer drugs market in 2024. 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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