The non-small cell lung cancer therapeutics market is anticipated to experience numerous growth opportunities in the upcoming years. This rapid market growth is on the back of various government initiatives that help to bring developments in non-small cell lung cancer therapeutics.
There is a substantial growth in the number of approvals for non-small cell lung cancer therapeutics, or NSCLC, and novel drugs by the US food and drug administration (FDA) and some other authoritative bodies. Further, these authoritative bodies are also funding different R &D activities, which are expected to boost growth opportunities in the non-small cell lung cancer therapeutics market.
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The non-small cell lung cancer therapeutics works as one of the well-known forms that are used for the treatment of cancer. This is because of capability of NSCLC to metastasize in human bones that can be difficult in the diagnosis and treatment of the disease. In general, around 90% of lung cancer types are non-small cell lung cancer.
The non-small cell lung cancer therapeutics pinpoint the type of cancer from the first stage till the last one. These solutions are specially designed with a blend of chemistry and advanced proteins. As per the research report by Transparency Market Research, the non-small cell lung cancer therapeutics market is estimated to expand at a CAGR of 12.1% and reach a valuation of US$ 15.1 Bn during the forecast period from 2015 to 2023.
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Increasing Requirements for More Targeted and Highly Effective Therapies Likely to Boost Angiogenesis Inhibitor Segment in Non-Small Cell Lung Cancer Therapeutics Market
The non-small cell lung cancer therapeutics market is bifurcated into angiogenesis inhibitors, folate antimetabolites, EGFR inhibitor, microtubule stabilizer, kinase inhibitor, and PD-1/PD-L1 inhibitor on the basis of class of drugs. Among these segments, the angiogenesis inhibitor segment is estimated to dominate in the non-small cell lung cancer therapeutics market. This market growth is on the back of growing requirements for more targeted and highly effective therapies in emerging as well as established economies including Europe, the US, Japan, and India..
These rapidly increasing requirements for the angiogenesis inhibitor vertical from the non-small cell lung cancer therapeutics market are projected to exhibit growth opportunities. This market segment is likely to develop at a CAGR of 1.8% during the forecast period from 2015 to 2023. The estimated valuation of the angiogenesis inhibitor segment is expected to reach US$ 2,020.4 Mn by the 2023 end. The vendor landscape of the non-small cell lung cancer therapeutics market has been fragmented due to the presence of multiple leading companies. Some of the key players operating in the market include Bristol Myers, Squibb, Boehringer Ingelheim, Eli Lilly and Company, Pfizer Inc., and AstraZeneca Plc.
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Increasing Expenditure on Healthcare Infrastructure in Asia Pacific Anticipated to Drive Prominent Growth in Regional Market
The non-small cell lung cancer therapeutics market is spread across various geographical regions including North America, Latin America, Europe, Asia Pacific, and the Rest of the World. Among these regions, the North America region is estimated to hold a dominating position in the market. This dominance of the region is on the back of growing support of the federal government in the U.S. to enhance comprehensive healthcare infrastructure.
On the other hand, the Asia Pacific region is likely to show promising growth opportunities in the non-small cell lung cancer therapeutics market in the upcoming years. This regional growth is attributed to the rising number of patients suffering from lung cancer. Further, the increasing expenditure on healthcare infrastructure and growing awareness about the availability of novel cancer treatment techniques are also fueling growth opportunities in the non-small cell lung cancer therapeutics market in the forthcoming years.
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