Asia Pacific Non-Small Cell Lung Cancer Therapeutics Market driven by growing awareness about non-small cell lung cancer

Non-Small Cell Lung Cancer Therapeutics Market: Snapshot

Non-small cell lung cancer (NSCLC) is the one of the commonest form of lung cancers. It is the most feared too. This is because it metastasizes into the bones and other tissues, making it tough to diagnose and treat it. In fact, almost 90% of all lung cancer cases are non-small cell lung cancer. Drugs meant to treat such a type of cancer range from regular regimens to targeted therapies. They are formulated leveraging simple chemistries to advanced complex proteins. The global market for non-small cell lung cancer therapeutics has seen robust growth due to the strong awareness among people about it. Another factor majorly contributing to the market is favorable government initiatives. Further, rapid approvals for drugs for non-small cell lung cancer by regulatory bodies and generous monetary assistance for research has also filliped the market.

Despite the efficacy of targeted therapies and the uncovering of numerous molecular targets, the development of most drugs is in an early-stage pipeline. This, coupled with resistance to targeted therapies, is a major cause of worry in the non-small cell lung cancer therapeutics market.

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The global non-small cell lung cancer therapeutics market was worth US$4.9 bn in 2014. Expanding at a CAGR of 12.1% from 2015 to 2023, it is slated to achieve a value of US$15.1 bn in 2023. The global non-small cell lung cancer therapeutics market is a fragmented with robust competition among the existing players that are both generic and branded companies. Some of the prominent names operating in the market are Bristol-Myers Squibb, Eli Lilly and Company, Boehringer Ingelheim, Pfizer, Inc., AstraZeneca plc, and Novartis AG.

Burgeoning Population to Propel Market in Asia Pacific

The global market for non-small cell lung cancer therapeutics comprises five key regions: North America, Europe, Asia Pacific, and the Rest of the World. Among them, North America leads with maximum share in market on account of the presence of a superior healthcare infrastructure and strong support by the U.S. federal government. In terms of growth rate, however, Asia Pacific is predicted to outshine all other regions owing to the burgeoning population, growing awareness about non-small cell lung cancer, increasing number of government projects pertaining to lung cancer, and ongoing efforts for timely intervention.

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Effectiveness of Angiogenesis Inhibitor Drives Growth

The global market for non-small cell lung cancer therapeutics market can be segmented on the basis of drugs into EGFR inhibitor, angiogenesis inhibitor, microtubule stabilizer, kinase inhibitor, folate antimetabolites, and PD-1/PD-L1 inhibitor. At present angiogenesis inhibitor, also known as anti-angiogenics that thwart formation of new blood vessels, dominates the market. Going forward too, it is likely to retain its leading position because of the strong demand for this efficacious, targeted therapy in the crucial Europe, Japan, and the U.S. markets. Avastin, a type of angiogenesis inhibitor, is predicted to see maximum uptake. Exhibiting a CAGR of 1.8% from 2015 to 2023, the angiogenesis inhibitor segment is predicted to attain a market value of US$ 2,020.4 mn by 2023.

The folate antimetabolites segment trails the angiogenesis inhibitor segment in the global non-small cell lung cancer therapeutics market. The EGFR inhibitor and microtubule stabilizer segments come in third and fourth positions in terms of market share. The PD-1/PD-L1 inhibitor will likely outpace all other segments vis-à-vis growth in the upcoming years due to the effectiveness of the treatment, which has been corroborated by clinical data that shows double survival rate. Unveiling of new targeted therapies with more surveillance rate could, however, hobble the growth in the market.

Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.

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This release was published on openPR.