NOIDA, India, Nov. 24, 2022 /PRNewswire/ -- According to a new report published by UnivDatos Markets Insights, the Lung Cancer Therapeutics Market is expected to reach at USD 48 billion in 2027, growing at a CAGR of 9% from 2021-2027. The analysis has been segmented into disease type (non-small cell lung cancer, small cell lung cancer); treatment (chemotherapy, radiation therapy, immunotherapy, targeted therapy, others); molecule type (small molecules, biologics); distribution channel (hospital pharmacies, e-commerce, retail pharmacies, others); Region/Country.
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The Lung Cancer Therapeutics market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the Lung Cancer Therapeutics market. The Lung Cancer Therapeutics market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the Lung Cancer Therapeutics market at the global and regional levels.
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Market Overview
The lung cancer therapeutics market is expected to register a CAGR of around 9% over the period of 2021-2027. Lung cancer is the second most common cancer and the leading cause of cancer death for men and women in the United States. The rising prevalence of lung cancer owing to the changing lifestyles with high smoking habits which lead to a huge pool of carcinoma lung population is one of the key factors which is resulting in a rise in the number of people having lung cancer. For instance, as per the American Lung Association, smoking, the main cause of small cell and non-small cell lung cancer contributes to 80 percent and 90 percent of lung cancer deaths in women and men, respectively. Men who smoke are 23 times more likely to develop lung cancer. Women are 13 times more likely than compared to never be smokers. The rising geriatric population with NSCLC coupled with higher adoption and wide availability of advanced lung cancer therapeutics products in the region is expected to drive the lung cancer therapeutics market. Furthermore, various factors such as smoking, unhealthy diet, physical inactivity, and advancing age, increase the risk and diagnosis of such diseases. Therefore, the market for lung cancer therapeutics devices is expected to witness significant growth during the forecast period.
Some of the major players operating in the market include AstraZeneca, Boehringer Ingelheim, Bristol-Myers Squibb Company, Eli Lilly and Company, F. Hoffmann-La Roche AG, Merck & Co, Pfizer Inc., Allergan Inc., Teva Pharmaceutical Industries Ltd., AbbVie, Inc.
COVID-19 Impact
The COVID-19 pandemic has adversely impacted the global lung cancer therapeutics industry. Several countries enforced nationwide lockdowns as part of measures to limit the spread of the coronavirus. As a result, caused widespread disruption to cancer care. In light of the pandemic, many people with cancer face challenges, including delays in diagnosis and treatment.
The global lung cancer therapeutics market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
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Lung Cancer Therapeutics Market Geographical Segmentation Includes:
North America accounted for a major share of the lung cancer therapeutics market. The major contributors to the growth of this market are US and Canada. This is mainly due to the increasing incidence of cancer which causes death in countries like the U.S. and Canada. The growing lung cancer is more common in men than women, particularly African American men. The chance of getting lung cancer increases with age, and, of course, a smoking history significantly contributed to the considerable growth of the state in the U.S. lung cancer therapeutics market.
The major players targeting the market include
Competitive Landscape
The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Lung Cancer Therapeutics Market. The major players have been analyzed by using research methodologies for getting insight views on global competition.
Key questions resolved through this analytical market research report include:
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Lung Cancer Therapeutics Market Report Coverage
Report Attribute | Details |
Base year | 2020 |
Forecast period | 2021-2027 |
Growth momentum | Accelerate at a CAGR of 9% |
Market size 2027 | USD 48 billion |
Regional analysis | North America, Europe, APAC, Rest of World |
Major contributing region | North America to Dominate the Global Lung Cancer Therapeutics Market |
Key countries covered | United States, Canada, Germany, United Kingdom, Italy, France, Spain, China, Japan, India, Australia |
Companies profiled | AstraZeneca, Boehringer Ingelheim, Bristol-Myers Squibb Company, Eli Lilly and Company, F. Hoffmann-La Roche AG, Merck & Co, Pfizer Inc., Allergan Inc., Teva Pharmaceutical Industries Ltd., AbbVie, Inc. |
Report Scope | Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Impact of COVID-19; Demand and Supply Side Analysis; Competitive Landscape; Company Profiling |
Segments Covered | By Disease Type; By Treatment, By Molecule Type; By Distribution Channel; By Region/Country |
About UnivDatos Market Insights (UMI)
UnivDatos Market Insights (UMI) is a passionate market research firm and a subsidiary of Universal Data Solutions. We believe in delivering insights through Market Intelligence Reports, Customized Business Research, and Primary Research. Our research studies are spread across topics across the world, we cover markets in over 100 countries using smart research techniques and agile methodologies. We offer in-depth studies, detailed analysis, and customized reports that help shape winning business strategies for our clients.
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