Lung Cancer Market Size, Trends and Growth Analysis by Type (SCLC and NSCLC), Treatment (Surgery, Chemotherapy, Radiotherapy, Photodynamic Therapy (PDT) and Laser Therapy), End User (Hospital & Clinics, Cancer Research Centers and Laboratories) and Region, Forecast to 2023
Lung cancer therapeutics market Analysis
Global Lung cancer therapeutics market size is anticipated to reach USD 36,929.9 million, with a CAGR of 13.5% from 2016 to 2023 (forecast period). Lung cancer is a malignant lung tumor defined by uncontrolled cell growth in lung tissue with symptoms such as coughing, weight loss, fatigue, and chest pain. Two types of lung cancer are small cell lung cancer (SCLC) and non-small cell lung cancer (NSCLC). The NSCLC type accounts for nearly 80% of total lung cancers. Curing rates for both types of lung cancers change their roles, with SCLC being the most malignant. The cure rates also depend on the level of cancer diagnosis, with rates ranging from 55% in the first level to 1% in the fourth stage.
Smoking is the primary cause of growing cases of lung cancer. As stated by the World Health Organization (WHO), tobacco kills more than 7 million people every year, more than 6 million of whom are killed due to direct tobacco use. Lung cancer is the leader with a total of 37% of deaths. Higher rates of lung cancer due to passive smoking are of more significant concern. The high prevalence of smoking is anticipated to propel the growth of the lung cancer therapeutics market during the forecast period.
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However, the lack of efficacy, cure rates, and side effects of current treatment, and high failure rates of lung transplant surgery are expected to inhibit the market growth. Moreover, faster growth of lung cancer, poor life expectancy and quality of life of patients undergoing treatment with lung cancer, loss of patents for lung cancer drugs, and scarcity of lung organs, are other factors expected to constrain the growth of the market.
Lung cancer therapeutics market Segmentation
The global lung cancer therapeutics market has been segmented into type, treatment, and end-users.
By type, the global lung cancer therapeutics market has been segregated into SCLC and NSCLC.
Based on treatment, the global lung cancer therapeutics market has been divided into surgery, chemotherapy, radiotherapy, photodynamic therapy (PDT), and laser therapy.
By the end-user, the global lung cancer therapeutics market has been bifurcated into hospitals & clinics, cancer research centers, and laboratories. The hospital and clinic segment accounted for a market value of USD 5,820.5 million in 2016.
Lung cancer therapeutics market Regional Analysis
By region, the global lung cancer therapeutics market has been divided into North America, Europe, Asia Pacific, and the Middle East and Africa.
The lung cancer therapeutics market in North America is estimated to be the largest market. The reason for North America’s dominance is an excellent set-up of healthcare and a rise in disposable per capita income.
Europe will be the second-largest lung cancer therapeutics market. The European region is dominated by countries like Denmark, Hungary, Armenia, Turkey, Belarus, Poland, and Belgium.
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The Asia Pacific region is estimated to be the fastest-growing market for lung cancer treatment due to a large population and rising smoking rates. The countries with the fastest markets are China, South Korea, Japan, and Kazakhstan. In addition, Australia had a market share of 10.3% in the Asia Pacific region in 2016.
The Middle East and Africa region will be headed by nations like Kuwait, Saudi Arabia, and Egypt.
Lung cancer therapeutics market Key Players
The leading participants in the global lung cancer therapeutics market are Novartis AG (Switzerland), F. Hoffmann-La Roche Ltd (Switzerland), Merck & Co., Inc. (US), Bristol-Myers Squibb Company (US), Pfizer Inc. (US), Eli Lilly and Company (US), and Sanofi (France).
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