This study covers the market dynamics and trends in major countries that are expected to influence the current market scenario and future status of the Global Lung Cancer Market over the forecast period.
Market Synopsis of Global Lung Cancer Market:
The Lung cancer Market is growing mainly due to the changing lifestyle, and environmental pollution. According to a recent study report published by the Market Research Future, The lung cancer market is booming and expected to gain prominence over the forecast period. The market is forecasted to demonstrate a spectacular growth by 2023, surpassing its previous growth records in terms of value with a striking CAGR of 13.5% during the anticipated period (2017 – 2023).
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Lung cancer is a malignant lung tumor characterized by uncontrolled cell growth in lung tissue with symptoms such as coughing, weight loss, and fatigue and chest pain. The two types of lung cancers are small-cell lung cancer (SCLC) and non-small-cell lung cancer (NSCLC). The NSCLC type accounts for almost 80% of the total lung cancers. The cure rates for the two types of lung cancers exchange their positions with the SCLC being the most malignant. The cure rates also depend on the stage of cancer detection with rates varying by 55% for first stage to just 1% for stage four.
Almost 85% of cases of lung cancer are due to long-term tobacco smoking. Cigarette smoke contains at least 73 known carcinogens. Other factors causing lung cancer are genetic factors and exposure to triggers and carcinogens such as radon gas, asbestos, radioactive materials, second-hand smoke, or air pollution. It has also been demonstrated that passive smokers have a 20–30% increase in risk.
The treatments for lung cancer include surgery, chemotherapy, and radiotherapy with NSCLC responding better to surgery and SCLC usually responding better to chemotherapy and radiotherapy. Notably, smoking is the primary driver for the rising cases of lung cancer. According to World Health Organization (WHO) tobacco kills more than 7 million people each year of which more than 6 million deaths are the result of direct tobacco use. Lung cancer is the leader with a whopping 37% of deaths. Of more concern is the rising rates of lung cancer due to passive smoking.
Other push factors such as, environmental pollution, rising cases of infections, growing rates of early detection and awareness, rising rates of fast growing lung cancer, and reimbursements and growing health insurance are also fuelling the growth of the market.
Despite these drivers, poor efficacy, cure rates and side effects of present treatment, high failure rates of lung transplant surgeries, high malignant nature and faster growth of lung cancer, poor life expectancy and quality of life of patients undergoing lung cancer treatment, and scarcity of lung organ and long waiting lines are expected to decline the market growth. According to American Society of Clinical Oncology (ASCO) the 5-year survival rate for stage I NSCLC is about 47% which falls drastically to 10% for stage III. The 5-year survival rate for stage IV NSCLC is just around 1%.
Key Players for Global Lung Cancer Market:
- Hoffmann-La Roche AG
- PFIZER INC
- Merck & Co., Inc.
- BRISTOL-MYERS SQUIBB
- ELI Lilly and Company
Global Lung Cancer Market has been segmented on the basis of types which comprises of SCLC and NSCLC. On the basis of treatments it is segmented into Surgery, Chemotherapy, Radiotherapy, Photodynamic therapy (PDT) and Laser therapy. On the basis of end users, it includes Hospitals & Clinics, Cancer Research Centers and Laboratories.
The global market for Lung Cancer is growing steadily. The global lung cancer market on the basis of region comprises of North America, Europe, Asia Pacific and Middle East & Africa. The global market for Lung Cancer is growing with the CAGR of 13.5% during the forecast period from 2017-2023. NSCLC is the most common type of lung cancer globally. The global Lung Cancer market reached USD 36929.8 million in 2023 from 15219.7 million in 2016. Europe region captured the second largest market globally and is expected to reach USD 8,536.3 million by 2023 due to the growing demand and need for lung cancer drugs, and the growing prevalence of lung cancer.
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Detailed Table Of Contents
1 Report Prologue
2.1 Research Objective
2.2 Assumptions & Limitations
2.3 Market Structure
3 Research Methodology
3.1 Primary Research
3.2 Secondary Research
4 Porters Five Forces
4.2 Bargaining Power Of Buyer
4.3 Bargaining Power Of Suppliers
4.3.1 Threat From Substitute
4.3.2 Threat From A New Entrant
4.3.3 Intensity Of Competitive Rivalry
5 Market Dynamics
5.1.2 Environmental Pollution
5.1.3 Rising Cases Of Infections
5.1.4 Growing Rates Of Early Detection And Awareness
5.1.5 Rising Rates Of Fast Growing Lung Cancer
5.1.6 Reimbursements And Growing Health Insurance
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