Non-small Cell Lung Cancer Therapeutics Market Outlook 2031
The Global Non-Small Cell Lung Cancer Therapeutics Market size was valued at USD 26.20 Billion in 2022 and is likely reach to USD 79.33 Billion by 2031, expanding at a CAGR of 13.1% during the forecast period, 2023–2031. The growth of the market is accredited to the increasing patient population and entry of several drugs for the treatment of lung cancer.
Non-small cell lung cancer (NSCLC) therapeutics is one of the common types of the treatment for cancer since over 90% of the all lung cancer are of non-small cell lung cancer. NSCLC therapeutics focuses on this type of cancer treatment ranging from initial stage to late stage.
Rising incidences of NSCLC across the world due to rising air pollution and smoking habits among a large number of the global population is expected to positively affect the market in the coming years.
As per the estimation by the American Cancer Society, about 223,390 new lung cancer patients were reported in 2016 in the US alone.
The presence of a powerful pipeline for NSCLC treatment and introduction of new drugs for the targeted treatment present key aspects for the market growth in the coming years. For instance, a drug “fruquintinib (HMPL-013)” which was formulated to diagnose advanced NSCLC is in its clinical trial phase.
Moreover, the Merck KGaA developed “Avelumab,” which is presently one of the key drugs in the pipeline. It is a human monoclonal PD-L1 antigen. The development of these advanced diagnosis are one of the key factors for the market expansion.
Market Trends, Drivers, Restraints, and Opportunities
- Growing investment by key market players in R&D activities to enhance and improve NSCLC therapy model is expected to accelerate the market growth.
- Rising incidences of lung cancer across the globe due to high-level of air pollution and changing lifestyle such as increasing number of smokers among the global population is expected to drive the market expansion in the coming years.
- Rapid development of advanced treatments for NSCLC and favorable government policies for the expansion of cancer treatment facilities are expected to boost the market growth during the forecast period.
- High cost of the cancer treatment and lack of accessibility to advanced healthcare facilities for the cancer treatment in remote parts of developing countries are key challenges that can hamper the market expansion.
Scope of Non-small Cell Lung Cancer Therapeutics Market Report
The report on the global non-small cell lung cancer therapeutics market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Attributes
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Details
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Report Title
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Non-small Cell Lung Cancer Therapeutics Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2022–2031
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Segmentation
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Drugs (Iressa, Alimta, Tarceva, Avastin, Zykadia, Xalkori, Cyramza, Tagrisso, Opdivo, and Alecensa)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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GlaxoSmithKline plc; Novartis International AG; AstraZeneca plc; Eli Lilly and Company; Pfizer Inc.; and F. Hoffmann-La Roche AG.
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Non-small Cell Lung Cancer Therapeutics Market Segment Insights
Alecensa segment is expected to grow at a rapid pace
Based on drugs, the global non-small cell lung cancer therapeutics market is divided into iressa, alimta, tarceva, avastin, zykadia, xalkori, cyramza, tagrisso, opdivo, and alecensa.
The alecensa segment is expected to grow at a rapid pace during the projected period owing to increasing geographical penetration of the drug, rising awareness of advanced drugs for cancer treatment, and progression-free survival rate.
However, the tagrisso segment is anticipated to expand considerably during the forecast period due to latest approvals in several geographical regions and rising demand of the drug.
Non-small Cell Lung Cancer Therapeutics Market Regional Outlook
North America is anticipated to constitute a key market share
In terms of regions, the market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market of North America accounted for a large share of the market in 2019 and is anticipated to constitute a key market share during the projected period due to presence of a strong pipeline and research activities by various industry players in the region.
The market of Asia Pacific, however, is anticipated to expand at a robust CAGR during the forecast period owing to presence of less stringent regulatory procedures for approval and a large patient pool in the region.
Segments
Drugs
- Iressa
- Alimta
- Tarceva
- Avastin
- Zykadia
- Xalkori
- Cyramza
- Tagrisso
- Opdivo
- Alecensa
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
Competitive Landscape
Key players competing in the global non-small cell lung cancer therapeutics market are GlaxoSmithKline plc; Novartis International AG; AstraZeneca plc; Eli Lilly and Company; Pfizer Inc.; and F. Hoffmann-La Roche AG.
The main market players are continuously engaged in the business development activities such as mergers, acquisitions, research and developments, investments for innovative products, and collaborations to expand their business operations in the market.
For instance, Tagrisso was given approval in Japan for the diagnosis of EGFR T790M mutation-positive recurrent or inoperable NSCLC in March 2016.