Non-small cell lung cancer, which comprises squamous cell carcinoma and adenocarcinoma, among others, displays similar characteristics. Treatment options for NSCLC include surgery, chemotherapy, radiation therapy, targeted therapy, and immunotherapy. NSCLC represents about 85% of all lung cancers.
It is projected that the non-small cell lung cancer treatment market worldwide will have a value of US$ 24,910.7 million in 2023 and will experience a compound annual growth rate (CAGR) of 9.4% from 2023 to 2030.
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The market is anticipated to develop as more innovative drugs are approved for the treatment of non-small cell lung cancer.
The market growth is expected to be driven by the rising number of newly approved drugs for treating non-small cell lung cancer. In August 2019, Roche Holding, a Swiss multinational healthcare company operating under the Pharmaceuticals and Diagnostics divisions worldwide, received approval from the U.S. Food and Drug Administration (FDA) for Rozlytrek (entrectinib), which is intended for treating ROS1-positive, metastatic non-small cell lung cancer in adults.
Throughout the projected period, an increase in the incidence of non-small cell lung cancer is anticipated to fuel market expansion.
Market growth during the forecast period is expected to be fueled by the growing incidence of non-small cell lung cancer. For example, in May 2020, the American Lung Association, a voluntary health organization dedicated to improving lung health and preventing lung disease through education, advocacy, and research, published data indicating that approximately 234,030 cases of lung cancer were diagnosed in the United States in 2018.
Effect of Coronavirus on the Global Non-Small Cell Lung Cancer Therapy Industry (COVID-19) Pandemic
The COVID-19 virus, which emerged in December 2019, has spread to more than 100 countries worldwide, prompting the World Health Organization to declare it a public health emergency on January 30, 2020.
The economy has been impacted by COVID-19 in three primary ways: direct effects on drug and vaccine production and demand, distribution channel disruptions, and financial repercussions for firms and financial markets. National lockdowns have caused transportation issues for drugs and vaccines in several countries, including China, India, Saudi Arabia, UAE, Egypt, and others.
The limitations on screening, diagnostic, and surgical procedures at hospitals and cancer treatment facilities have impacted the non-small cell lung cancer diagnostics market. Despite the pandemic, there has been a persistent number of lung cancer cases, which is anticipated to result in increased demand for non-small cell lung cancer diagnostics.
Major Developments in the Global Non-small Cell Lung Cancer Therapy Market
Pfizer, a multinational pharmaceutical and biotechnology corporation headquartered in the United States, acquired Trillium Therapeutics Inc., a clinical-stage immuno-oncology company focused on developing novel cancer therapies, on August 23, 2021. This acquisition enhances Pfizer’s position as a leader in the Oncology field by adding cutting-edge investigational immuno-therapeutics for hematological malignancies.
Bristol Myers Squibb, a multinational pharmaceutical company based in the United States, acquired Turning Point Therapeutics, a clinical-stage precision oncology company focused on developing investigational drugs to address the limitations of current cancer therapies, on March 6, 2022. This acquisition expanded Bristol Myers Squibb’s oncology portfolio by incorporating a late-stage, top-quality precision oncology asset.
Global Non-small Cell Lung Cancer Treatment Market: Restraint
The expensive nature of drugs is a significant obstacle for patients in adopting them easily. The high cost of drugs utilized in non-small cell lung cancer treatment is a critical factor projected to impede the market’s growth.
Key Players
Prominent entities in the worldwide market for non-small cell lung cancer treatment comprise F. Hoffmann-La Roche Ltd., Pfizer Inc., AstraZeneca plc, Eli Lilly and Company, Boehringer Ingelheim GMBH, Novartis AG, Merck & Co., Inc., and Bristol-Myers Squibb
𝐏𝐮𝐫𝐜𝐡𝐚𝐬𝐞 𝐓𝐡𝐢𝐬 𝐏𝐫𝐞𝐦𝐢𝐮𝐦 𝐑𝐞𝐩𝐨𝐫𝐭 𝐖𝐢𝐭𝐡 𝐔𝐩 𝐓𝐨 𝟐𝟓% 𝐎𝐅𝐅 @ https://www.coherentmarketinsights.com/insight/buy-now/241
| The market size value in 2023 |
Table of Contents with Major Points:
Executive Summary
- Introduction
- Key Findings
- Recommendations
- Definitions and Assumptions
Executive Summary
Market Overview
- Definition of Non-Small Cell Lung Cancer Market
- Market Dynamics
- Drivers
- Restraints
- Opportunities
- Trends and Developments
Key Insights
- Key Emerging Trends
- Key Developments Mergers and Acquisition
- New Product Launches and Collaboration
- Partnership and Joint Venture
- Latest Technological Advancements
- Insights on Regulatory Scenario
- Porters Five Forces Analysis
Qualitative Insights Impact of COVID-19 on Global Non-Small Cell Lung Cancer Market
- Supply Chain Challenges
- Steps taken by Government/Companies to overcome this impact
- Potential opportunities due to COVID-19 outbreak
Conclusion
Appendix
- Data Sources
- Abbreviations
- Disclaimer
TOC Continued…!
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