Non-Small Cell Lung Cancer Therapeutics Market - An Emerging Worldwide Industry
Rated as the most dreaded of all types of lung cancer, new NSCLC drugs are readily given approval by regulatory bodies, and research and development is encouraged. This factor is leading to rapid innovation, which will eventually decide the leader of the market in future. The global market for non-small cell lung cancer therapeutics was valued at US$4.9 bn in 2014. Rising at a robust CAGR of 12.10% during the forecast period of 2015 to 2023, the valuation is estimated to reach a US$15.1 bn mark by the end of 2023.
This 94 page report gives readers a comprehensive overview of the non-small cell lung cancer therapeutics market. Browse to unlock the hidden opportunities in this market: http://www.transparencymarketresearch.com/non-small-cell-lung-cancer-market.html
Zykadia Projected for Strongest Growth Rate
The global NSCLC market has been bifurcated on the basis of drugs class, pipeline stage, and geography. By drug class, the market is categorized into angiogenesis inhibitor, epidermal growth factor receptor (EGFR) blocker, kinase inhibitor, folate antimetabolites, microtubule stabilizer, and PD-1/PD-L1 inhibitors. In 2014, the segment of angiogenesis inhibitor dominated the demand, owing to reasons such as high efficacy, targeted therapies, and increasing demand from country-wide markets of the U.S. and Japan. The report rates Zykadia, a sub-segment of kinase inhibitor, for the strongest CAGR during the forecast period, followed by Opdivo, a sub-segment of PD-1/PD-L1 inhibitors.
Geographically, the report studies the regional non-small cell lung cancer therapeutics markets in North America, Europe, Asia Pacific, and Rest of the World. North America dominated the demand in 2014 due to the presence of robust healthcare infrastructure and an efficient government system in the U.S. and Canada. However, Asia Pacific is expected to boost the demand at a stronger CAGR during the forecast period due to vast population, growing awareness about NSCLC, and increased governmental projects related to lung, cancer, and tobacco.
Wide Patient Pool Augmenting Demand
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In recent past, the demand for NSCLC therapeutics has surged significantly, and has become the most common type of lung cancer. According to American lung cancer society, about two out of three people diagnosed with lung cancer are 65 years or older. According to the author of the report, “This increasing pool of patients and rising geriatric population across the globe are the primary drivers in the global market for non-small cell lung cancer therapeutics.” Additionally, the author adds that approval of some of the late-stage pipeline products, such as necitumumab and onartuzumab will further fuel the growth rate in positive direction. The report also observes that drugs used in the NSCLC treatment range from regular regimens to targeted therapies, and concurrently are based on simple chemistries to advanced complex protein. As the awareness about the prevalence of lung cancer multiplies, several governments across the globe are offering favorable policies for the players in the market. This factor is also expected to fuel the demand during the forecast period.
The information presented in this review is based on a Transparency Market Research report, titled, “Non-small Cell Lung Cancer Therapeutics Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2015 - 2023.”
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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