Lung Cancer Therapeutics Market is Driven by Increase in Geriatric Population and Rise in Prevalence of Unhealthy Lifestyles
Non-small cell lung cancer is the common type of lung cancer. About 85% of lung cancers are non-small cell lung cancers. Common symptoms of lung cancer include coughing, chest pains, weight loss, and shortness of breath. Lung cancer can be treated through various types of therapies such as chemotherapy, radiation therapy, vaccines, and immunotherapies.
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According to Centers for Disease Control and Prevention (CDC), lung cancer is the primary cause of cancer death and the second most common cancer. The global lung cancer therapeutics market is expected to expand at a rapid pace during the forecast period due to the increase in incidence of lung cancer. Cigarette smoking, pipes, cigar smoking, and constant exposure to asbestos are the key factors that can cause lung cancer.
Prominent factors driving the global lung cancer therapeutics market include increase in geriatric population and rise in prevalence of unhealthy lifestyles. Availability of generic drugs, poor cancer diagnostic facilities in many countries, high cost and the adverse effect of radiation and chemotherapies are the factors likely to restrain the global lung cancer therapeutics market during the forecast period.
The global lung cancer therapeutics market can be segmented based on chemotherapy, targeted therapy, radiotherapy, and geography. Based on chemotherapy, the global lung cancer therapeutics market can be categorized into Gemzar, Alimta, Paraplatin, Taxotere, Navelbine, and others. Chemotherapy is usually based on the combination of drugs. In terms of targeted therapy, the global lung cancer therapeutics market can be divided into Avastin, Tarceva, Iressa, Gilotrif, and others. Based on radiotherapy, the global lung cancer therapeutics market can be segregated into external beam radiotherapy, internal radiotherapy, and systemic radiotherapy.
Geographically, the lung cancer therapeutics market can be segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. North America is expected to dominate the global lung cancer therapeutics market in the near future, due to extensive technological advancements in the region.
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Europe is anticipated to be the second largest market for lung cancer therapeutics owing to the large government funding in the field of research and development of novel drugs and technological advancements in the fields of cancer. The global lung cancer therapeutics market in Asia Pacific is estimated to expand at a rapid pace the during the forecast period primarily owing to the development in healthcare facilities, rise in awareness about health, and increase in government funding. In terms of revenue, the lung cancer therapeutics market in China and India is likely to expand significantly owing to the increase in population, development of economies, rise in prevalence of unhealthy lifestyle, and surge in air pollution.
Key players operating in the global lung cancer therapeutics market are adopting various strategies such as acquisition and mergers, development of new and efficient drugs, geographical expansion, and strong research and development activities in order to maintain their position in the market. Prominent players operating in the global lung cancer therapeutics market include F. Hoffmann-La Roche Ltd., AstraZeneca plc, GlaxoSmithKline plc, Sanofi, Merck & Co., Inc., Pfizer, Inc., Agennix AG, and Eli Lilly and Company.
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