The Global Lung Cancer Market is touted to reach USD 36929.8 Million by the end of 2023 which was valued at USD 15219.7 Million in 2016 and expand at a progressive CAGR of 13.5% over the forecast period of 2014-2023, proclaims Market Research Future (MRFR) in an exhaustive study. Global Lung Cancer Market Information, by Type (SCLC, NSCLC); by treatment (Surgery, Chemotherapy, Radiotherapy, Photodynamic therapy (PDT), Laser therapy); by end users (Hospitals & Clinics, Cancer Research Centers, Laboratories) – Forecast to 2023
High prevalence of lung cancer is the primary reason behind the growth of the market which results in higher screening, diagnosis, and treatment. The market is growing considerably on account of widespread smoking habits among the global population which is one of the primary reasons for lung cancer. Rising awareness on a global scale purveyed by various awareness programs emphasizing lung cancer initiated by multiple governments has also added fuel to the growth of the market. Rise in awareness results in early detection and treatment. Additionally, Favorable reimbursement scenario also supports the growth of the market. Insurance companies are progressively covering treatment of lung cancer under their insurance schemes which encourages patients to opt for treatment.
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Lung Cancer Market – Key Players
Prominent players at the forefront of competition in the Lung Cancer Market and are profiled in MRFR Analysis are:
- Hoffmann-La Roche Ltd (Switzerland)
- Novartis AG (Switzerland)
- Pfizer (US)
- Merck & Co., Inc. (US)
- Bristol-Myers Squibb (US)
- Eli Lilly and Company (US)
- Sanofi (France)
Lung Cancer Market – Segmentation
The Global Lung Cancer Market has been divided on the basis of types, treatments, end users & regions.
On the basis of types, the market is bifurcated into SCLC (Small Cell Lung Cancer) & NSCLC (Non-Small Cell Lung Cancer). SCLC typically originates in the cells that line the bronchi in the middle of the lungs. Cell carcinoma & combined cell carcinoma are the sub-segments of SCLC. NSCLC tends to affect the exterior region of the lung. This form of cancer is also referred to as adenocarcinoma. Sarcoma & Sarcomatoid carcinoma forms the sub-segments of NSCLC. SCLC held around 14.6% market shares back in 2015 whereas NSCLC earned above USD 1.298.8 million that year
On account of treatments, the market is fragmented into surgery, chemotherapy, radiotherapy, photodynamic therapy (PDT) & laser therapy.
Hospitals & clinics, cancer research centers & laboratories form the end users. Amongst these, hospitals hold the largest market share.
Regionally, the market is segmented into North America, Europe, Asia Pacific, & Middle East & Africa & Rest Of The World.
Lung Cancer Market – Regional Analysis
The Global Lung Cancer Market spans across the regions of North America, Europe, Asia Pacific, and Middle East & Africa. North America is at the forefront of the global lung cancer market due to the presence of a well-developed healthcare sector, technological advances in healthcare and supportive government policies in the region. Europe is the second largest market for lung cancer and is expected to reach USD 8,536.3 Million by the end of 2023. Rising prevalence of lung cancer and extensive R&D activities for the development of drugs and therapies for lung cancer supports the growth of the market in Europe. Asia Pacific market is expected to gain prominence over the forecast period owing to rising expenditure and increasing focus on healthcare in the region. The Middle East & Africa market is expected to have a limited but steady growth over the forecast period.
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