The lung cancer therapeutics market is marked by significant advancements and features. Targeted therapies and immunotherapies have revolutionized treatment, offering tailored approaches and improved outcomes with fewer side effects. Early detection methods, including CT scans and liquid biopsies, enable timely intervention. Personalized medicine, guided by genetic profiling, ensures more precise treatment strategies. Clinical trials and research continue to drive innovation, enhancing the therapeutic landscape. These developments collectively empower healthcare professionals to provide more effective and individualized care for lung cancer patients, ultimately improving their prognosis and quality of life.
According to Data Bridge Market Research, the Global Lung Cancer Therapeutics Market was valued at USD 24,667.82 million in 2021 and is expected to reach USD 54,475.11 million by 2029, registering a CAGR of 10.41% during the forecast period of 2022-2029.
“Rising demand for targeted therapies boost the market’s growth”
The rising demand for targeted therapies acts as a key driver in the lung cancer therapeutics market. Targeted therapies are designed to pinpoint specific genetic mutations or molecular markers in lung cancer cells, making treatments more effective and less harmful to healthy tissues. As the understanding of these therapies advances and their efficacy becomes evident, healthcare providers and patients increasingly seek them, propelling their demand. This trend reflects a growing preference for personalized and precision medicine in lung cancer treatment.
What restraints the growth of the global lung cancer therapeutics market?
“Adverse effects of chemotherapy restraints the market’s growth”
Adverse effects of chemotherapy represent a significant restraint in the lung cancer therapeutics market. While chemotherapy is a traditional and widely used treatment for lung cancer, it often causes severe side effects, including nausea, fatigue, and hair loss. These side effects can lead to a decreased quality of life for patients and may impact their willingness to pursue treatment. As a result, there is a growing focus on developing alternative therapies with fewer adverse effects to address this limitation in the market.
Segmentation: Global Lung Cancer Therapeutics Market
The global lung cancer therapeutics market is segmented on the basis of cancer type, molecule type, drug class, treatment type, therapy type, end user, and distribution channel.
- On the basis of cancer type, the lung cancer therapeutics market is segmented into non-small cell lung cancer, metastatic lung cancer, mesothelioma, chest wall tumours, pulmonary neuroendocrine tumours, and mediastinal tumours.
- On the basis of molecule type, the lung cancer therapeutics market is segmented into small molecules and biologics.
- On the drug class, the lung cancer therapeutics market is segmented into alkylating agents, antimetabolites, mitotic inhibitors, multikinase inhibitors, EGFR inhibitors, and others.
- On the basis of treatment type, the lung cancer therapeutics market is segmented into radiation therapy, chemotherapy, targeted therapy, immunotherapy, and other drugs.
- On the basis of therapy type, the lung cancer therapeutics market is segmented into single drug therapy and combination therapy.
- On the basis of end user, the lung cancer therapeutics market is segmented into hospitals, specialty clinics, homecare, and others.
- On the basis of distribution channel, the lung cancer therapeutics market is segmented into hospital pharmacy, retail pharmacy, online, and others.
Regional Insights: North America dominates the Global Lung Cancer Therapeutics Market
North America asserts dominance in the lung cancer therapeutics market due to several factors. The region witnesses an increasing incidence of lung cancer, partly attributed to factors such as smoking. Additionally, the aging population in North America contributes to the demand for lung cancer treatments, as the risk of developing cancer generally rises with age. These demographic and lifestyle factors drive the growth of the lung cancer therapeutics market in North America, making it a prominent player in the industry.
The Asia-Pacific (APAC) region is poised for substantial growth in the lung cancer therapeutics market from 2022 to 2029. This is primarily attributed to the rising prevalence of lung cancer, fueled by increased tobacco smoking rates in the region. As smoking remains a major risk factor for lung cancer, the growing population of smokers contributes to the heightened demand for lung cancer treatments and therapies, positioning APAC as a significant growth area in this market.
To know more about the study visit, https://www.databridgemarketresearch.com/reports/global-lung-cancer-therapeutics-market
Recent Developments
- In February 2019, AdoRx Therapeutics revealed a strategic partnership with the Lung Cancer Initiative at Johnson & Johnson and Johnson & Johnson Innovation LLC. As part of this collaboration, AdoRx has provided an exclusive option for the research, development, and commercialization of novel antagonists, as specified in the agreement.
The Prominent Key Players Operating in the Global Lung Cancer Therapeutics Market Include:
- Church & Dwight Co., Inc. (U.S.)
- GlaxoSmithKline plc. (U.K.)
- Pfizer Inc. (U.S.)
- Sun Pharmaceutical Industries Ltd. (India)
- Takeda Pharmaceutical Company Limited (Japan)
- ONO PHARMACEUTICAL CO., LTD. (Japan)
- F. Hoffmann-La Roche Ltd (Switzerland)
- Novartis AG (Switzerland)
- Lily. (U.S.)
- AstraZeneca (U.S.)
- Boehringer Ingelheim International GmbH (Germany)
- Merck & Co., Inc. (U.S.)
- CELGENE CORPORATION (U.S.)
- Sanofi (France)
- Johnson & Johnson Services, Inc. (U.S.)
- Dr. Reddy’s Laboratories Ltd. (India)
- ALLERGAN (Ireland)
- Teva Pharmaceutical Industries Ltd. (Israel)
- Bristol-Myers Squibb Company (U.S.)
Above are the key players covered in the report, to know about more and exhaustive list of global lung cancer therapeutics market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Lung Cancer Therapeutics Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
