Market Research Future published a Cooked research report on “Lung Cancer Market Research Report – Forecast to 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023. The Global Market of Lung Cancer is expected to reach USD 36929.8 million in 2023 from USD 15219.7 million in 2016 with a CAGR of 13.5% during the forecast period 2017-2023.
Lung Cancer Market – Key Players
Hoffmann-La Roche Ltd (Switzerland), Novartis AG (Switzerland), Pfizer (US), Merck & Co., Inc. (US), Bristol-Myers Squibb (US), Eli Lilly and Company (US), and Sanofi (France) are some of the prominent players at the forefront of competition in the lung cancer market and are profiled in MRFR Analysis.
Lung Cancer Market – Competitive Analysis
The lung cancer market is currently dominated by various players. Lung cancer has become one of the nost common causes of cancer death worldwide. So, in recent years various existing and new marketers are continuously coming up with innovative products to control this condition.
Hoffmann-La Roche Ltd, a Switzerland based company, manufactures various cancer treatment products such as anti-bcl-2 (SP66) Rabbit Monoclonal Primary Antibody, anti-c-MYC (Y69) Rabbit Monoclonal Primary Antibody, anti-CD7 (SP94) Rabbit Monoclonal Primary Antibody, anti-CEA (TF 3H8-1) Primary Antibody, anti-Cytokeratin 5/6 (D5/16B4) Mouse Monoclonal Primary Antibody, anti-E-cadherin (EP700Y) Rabbit Monoclonal Primary Antibody, and others. In the year 2013, Roche received FDA approval for Tarceva (erlotinib) tablets and cobas EGFR Mutation Test for specific type of lung cancer.
Pfizer is another US based renowned bio pharmaceutical organization. In July 2016, Pfizer and Western Oncolytics announce immuno-oncology research collaboration. This collaboration has the aim to investigate novel oncolytic virus technology. Under terms of agreement, Pfizer and Western Oncolytics will collaborate on preclinical, clinical development of WO-12 through Phase I trials. Financial terms of agreement are not disclosed.
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Lung Cancer Market – Highlights
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 during the anticipated period (2017 – 2023).
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 fueling 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%.
Lung Cancer Market – Regional Analysis
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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Lung Cancer Market – Segmentation
Global Lung Cancer Market has been segmented on the basis of types which comprises of push button Lung Cancer, pressure activated Lung Cancer and side button Lung Cancer. On the basis of end user, it comprises of hospitals & clinics, diagnostic centers and pathology laboratories, home diagnostics and other end users.
Major Table of Content
Chapter 1. Report Prologue
Chapter 2. Market Introduction
2.2 Scope of the Study
2.2.1 Research Objective
Chapter 3. Research Methodology
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
Chapter 4. Market Dynamics
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