Lung Cancer Therapeutics Market

Global Lung Cancer Therapeutics Market Size (2024 to 2029)

The global lung cancer therapeutics market is estimated to be worth USD 10.79 billion by 2029 and USD 7.80 billion in 2024, growing at a CAGR of 6.7% during the forecast period.

MARKET DRIVERS

The growing patient population of lung cancer worldwide majorly propels the growth of the lung cancer therapeutics market.

According to the American Cancer Society, an estimated 236,740 people from the United States were diagnosed with lung cancer in 2022. Out of which, 130,180 people are expected to die. Lung cancer is the second most detected and has the highest death rate of all cancers in both men and women. Cigarette smoking is the projecting cause of lung cancer and is a malignant tumor regarded as an uninhibited growth of cell tissues in the lung. As a result, lung cancer declines the lung's capability to deliver oxygen to the bloodstream. Some key indications of lung cancer include appetite loss, wheezing, weight loss, coughing, mucus, shortness of breath, and chest pain.

The growing aging population worldwide further contributes to the growth of the lung cancer therapeutics market. The population is aging rapidly worldwide. WHO says the number of people of age of 60 years and above is expected to reach 1.4 billion by 2030 and 2.1 billion by 2050. The risk of diagnosing with lung cancer increases with the growing age. Hence, the growing aging population worldwide is expected to result in an increasing number of lung cancer patients and drive the growth of the lung cancer therapeutics market.

The growing number of improvements in diagnostic techniques, such as molecular diagnostics, genetic testing, and biomarker identification, the development of targeted therapies and personalized medicine approaches and the growing healthcare expenditure in developing countries accelerate the lung cancer therapeutics market growth. The introduction of superior-priced drugs and new advanced radiation therapies promote the market’s growth rate. Novel and safer therapies can offer growth opportunities to market participants in the coming days. The growing initiatives and investments by the governments to develop healthcare infrastructure and offer quality treatment services, rising awareness of the available treatment options to cure lung cancer among people, growing disposable income, ongoing R&D activities to develop new technologies and the emergence of the latest technology in radiation therapies boost the growth rate of the lung cancer therapeutics market.

MARKET RESTRAINTS

However, the high costs associated with installing and maintaining the medical equipment used to treat types of lung cancer to improve accurate results is one of the key factors hampering the growth rate of the global lung cancer therapeutics market. In addition, a shortage of skilled personnel, lack of technical expertise to manage the real-time applications, and lack of standardization further inhibit the growth rate of the global lung cancer therapeutics market.

Impact of COVID-19 on the global lung cancer therapeutics market

The COVID-19 outbreak has disrupted the mental and physical health of patients with lung cancer. Moreover, lung cancer patients are at higher risk for this infectious disease. During the lockdown restrictions, the doctors treated only the emergency cases, whereas the remaining treatment or diagnosis for the cancer was postponed. With the slight relaxation by the government across the world, the demand for the market surges continuously. Maintaining social distancing and wearing masks are major regulations to prevent the spread of coronavirus. By following these measures, all the treatment services were resumed. As COVID-19 is attacking severely with lung cancer people, hospitals manage to take the utmost care. However, owing to the decreasing number of COVID-19 cases, the treatment procedures for lung cancer patients are expected to pick up. Therefore, the market for lung cancer therapeutics is expected to experience a quick recovery and register a healthy CAGR during the forecast period.

REPORT COVERAGE

SEGMENTAL ANALYSIS 

Global Lung Cancer Therapeutics Market Analysis By Treatment Type

By treatment type, the chemotherapy segment is anticipated to play a leading role in the global lung cancer therapeutics market during the forecast period owing to the success rate associated with chemotherapy in curing lung cancer and the growing adoption of technological advancements. The growing demand for effective treatment procedures with fewer adverse effects and rising preference for early detection and diagnosis of diseases, stringent rules and regulations to approve new products concerning people’s safety further boost the segment’s growth rate.

The radiotherapy segment is estimated to witness a healthy CAGR during the forecast period in the global market. Radiotherapy is a precision and localized treatment approach for lung cancer and is an effective treatment option for inoperable or locally advanced lung cancer. The growing number of advancements in radiation delivery techniques, such as intensity-modulated radiation therapy (IMRT) and stereotactic body radiation therapy (SBRT) is one of the major factors propelling the growth of the radiotherapy segment in the global market. The growing adoption of a combination of radiotherapy with other treatment modalities, such as chemotherapy or targeted therapies and rising awareness and acceptance of radiotherapy as a primary or adjuvant treatment for lung cancer further propel the growth of the radiotherapy segment.

REGIONAL ANALYSIS

Geographically, the lung cancer therapeutics market in North America had the major share of the global lung cancer therapeutics in 2023 and the domination of the North American region is likely to continue during the forecast period. The growing aging population, rising adoption of a sedentary lifestyle among the North American population, the availability of well-established healthcare infrastructure and advanced treatment facilities and the strong presence of pharmaceutical and biotechnology companies focused on lung cancer therapeutics majorly drive the growth of lung cancer therapeutics market in North America. The growing prevalence of lung cancer, increasing awareness among the population, favorable reimbursement policies, improved access to innovative therapies and an increasing number of R&D activities in lung cancer treatment further fuel the growth rate of the North American market. The U.S. had the dominating share of the North American lung cancer therapeutics market, followed by Canada in 2022. An evaluation of 228,150 adults, where 116,440 are men and 111,710 are women in the U.S, is diagnosed with lung cancer, as per the American Society of Clinical Oncology 2019. 

The lung cancer therapeutics market in Europe had the second largest share in the global market in 2023 and is predicted to register a healthy CAGR during the forecast period. The growing adoption of a sedentary lifestyle among people, favorable reimbursement policies, increasing awareness among people regarding the early detection of cancer, and growing focus of people to stay healthy propel the European lung cancer therapeutics market growth. The UK market had the largest share of the European region in 2023 and is estimated to grow at a healthy CAGR during the forecast period owing to the large population base being affected with lung cancer, an increase in the aging population, and augmenting frequent approvals for drug development. On the other hand, Germany is expected to have rapid and high growth in the lung cancer therapeutics market.

The lung cancer therapeutics market in Asia-Pacific is predicted to showcase the fastest CAGR during the forecast period among all regions. The presence of developing economies and a growing population suffering from lung cancer and increasing awareness among people regarding lung cancer are driving the regional market growth. In addition, the lung cancer therapeutics market of Asia-Pacific is expected to be driven by factors such as a vast population base and growing funding by the governments of APAC countries.

The lung cancer therapeutics market in Latin America is expected to register healthy growth during the forecast period. The governments of Latin America are conducting several campaigns and programs to increase the awareness levels of cancer among people, which is expected to favour market growth. In Latin America, the Mexican market is predicted to register a major share of the regional market during the forecast period, followed by Brazil and Argentina.

The lung cancer therapeutics market Middle East & Africa is likely to showcase a moderate CAGR during the forecast period. Increasing approvals for alterations and treatment improvements propel the region's market growth. In addition, Africa is dominating this region's lung cancer therapeutics market due to an increase in the aged population and rising demand for the region's targeted therapies.

KEY MARKET PLAYERS

Some of the notable participants dominating the global lung cancer therapeutics market profiled in this report are Boehringer Ingelheim GmbH, Hoffman-La Roche, Pfizer Inc., GlaxoSmithKline, Eli Lilly and Company, Agennix AG, AstraZeneca Plc and Sanofi-Aventi. In addition, companies implement various strategies to increase their product portfolio and raise their geographical presence. Some manufacturers' effective lung cancer therapeutics market approaches are new product expansion, contracts, associations, and procurements.

RECENT HAPPENINGS IN THE MARKET

• AstraZeneca received marketing authorization approval from the National Medical Products Administration (NMPA) in September 2019 in China for Tagrisso, an EGFR tyrosine kinase inhibitor. This drug is used for patients with EGFR-mutated non-small cell lung cancer. The approval has provided the marketing and commercialization of drug exclusivity to Chinese firms, further expanding the business.
• F. Hoffmann-La Roche Ltd received approval from the US FDA for Cobas EGFR Mutation Test v2 in August 2018. Cobas is a liquid biopsy diagnostic test in general used in combination with Irresa (gefitinib), an EGFR inhibitor for treating non-small cell lung cancer (NSCLC). It is the only FDA-approved diagnostic test for NSCLC. This test will provide helpful and safer therapy for patients with NSCLC and expands the diagnostic business segment of F. Hoffmann-La Roche Ltd.
• In March 2019, Adorx Therapeutics Limited announced that it had entered long-term aims and interests of partnership with Johnson & Johnson Innovation LLC and Lung Cancer Initiative at Johnson & Johnson (LCI) of new novel lung cancer therapeutics. 
• In June 2016, the American Society of Clinical Oncology (ASCO) announced that a new antibody-drug conjugate had shown early promise in treating small-cell lung cancer.

DETAILED SEGMENTATION OF THE GLOBAL LUNG CANCER THERAPEUTICS MARKET INCLUDED IN THIS REPORT

This research report on the global lung cancer therapeutics market has been segmented and sub-segmented based on treatment type and region.

By Treatment Type

• Chemotherapy
  • Cisplatin
  • Taxol
  • Navelbine
  • Camptosar
  • Alimta
• Radiotherapy
  • External Beam
  • Internal Beam
  • Systemic
• Other Drugs
  • Abraxane
  • Avastin
  • Crizotinib
  • Docetaxel
  • Gefitinib

By Region

• North America
• Europe
• Asia-Pacific
• Latin America
• The Middle East and Africa