Lung Cancer Therapeutics Market to Deliver Greater Revenues during the Forecast Period 2024 – 2032

Increasing adoption of unhealthy lifestyle and rising demand for targeted therapies are key factors driving market revenue growth.

VANCOUVER, BRITISH COLUMBIA, CANADA, June 28, 2024 /EINPresswire.com/ -- The global lung cancer therapeutics market size was USD 28.00 Billion in 2022 and is expected to register a rapid revenue CAGR of 7.7% during the forecast period.  The global lung cancer therapeutics market is poised for significant growth, driven by the increasing prevalence of tobacco-related lung cancer and a rising demand for targeted therapies that offer improved treatment outcomes and quality of life for patients.

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Key Factors Driving Market Growth:

Rising Tobacco Use and Unhealthy Lifestyles: Despite global efforts to reduce tobacco consumption, its persistent use in certain regions continues to contribute significantly to lung cancer cases worldwide. This demographic trend underscores the urgent need for advanced lung cancer therapeutics.

Demand for Targeted Therapies: There is a growing preference for targeted therapies over traditional chemotherapy due to their ability to specifically target cancer cells while sparing healthy tissues. This approach not only enhances treatment efficacy but also reduces the debilitating side effects associated with conventional treatments.

Advancements in Precision Medicine: The development of targeted therapies tailored to specific genetic mutations in lung cancer patients marks a significant trend in the market. Drugs designed for mutations such as EGFR and ALK have shown promising results in improving patient outcomes and overall survival rates.

Market Challenges:

Treatment Side Effects: Despite the benefits, lung cancer treatments can cause significant side effects, impacting patient comfort and treatment adherence. Managing these side effects remains a challenge for healthcare providers and patients alike.

Healthcare Resource Strain: The complexity of lung cancer treatments, including the need for close monitoring and supportive care, poses a strain on healthcare resources, particularly in managing advanced stages of the disease.

Market Segmentation Insights:

Therapy Segmentation: Targeted therapy dominates the market, owing to its precision in targeting genetic abnormalities within tumors, thereby minimizing side effects and improving patient outcomes. Chemotherapy remains crucial, particularly in treating small cell lung cancer and advanced stages of NSCLC.

Distribution Channels: Hospitals lead in market share, providing comprehensive care and immediate access to treatments. Online pharmacies are experiencing steady growth, catering to the rising trend of homecare settings and the need for convenient medication access.

Lung Cancer Therapeutics Top Companies and Competitive Landscape

The global lung cancer therapeutics market is moderately fragmented, with many large and medium-sized players accounting for majority of market revenue. Major businesses are using a variety of tactics, making mergers and acquisitions, strategic agreements, and contracts, as well as creating, experimenting with, and introducing more efficient lung cancer therapeutics solutions in the market.

Some major players included in the global lung cancer therapeutics market report are:

Church & Dwight Co., Inc.

GlaxoSmithKline plc.

Pfizer Inc.

Sun Pharmaceutical Industries Ltd.

Takeda Pharmaceutical Company Limited

ONO PHARMACEUTICAL CO., LTD.

Hoffmann-La Roche Ltd

Novartis AG, Lily.

AstraZeneca

Boehringer Ingelheim International GmbH

Merck & Co., Inc.

CELGENE CORPORATION

Sanofi

Johnson & Johnson Services, Inc.

Reddy’s Laboratories Ltd.

ALLERGAN

Teva Pharmaceutical Industries Ltd.

Bristol-Myers Squibb Company (US)

Millennium Pharmaceuticals, Inc.

Celgene Corporation

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Lung Cancer Therapeutics Latest Industry News

On 10 July, 2023, Iovance Biotherapeutics announced positive regulatory and clinical updates regarding its Phase 2 IOV-LUN-202 trial for LN-145 TIL therapy in post-anti-PD-1 advanced NSCLC. During discussions with the U.S. FDA, the agency expressed positive feedback on the trial design, indicating it may be suitable for accelerated approval. Preliminary clinical data from the IOV-LUN-202 trial showed a 26.1% Objective Response Rate (ORR) in post-anti-PD-1 NSCLC patients. Iovance plans to enroll around 120 patients in the trial, with expected completion in the second half of 2024. The company is also preparing for discussions with the FDA on a randomized confirmatory trial for LN-145 in frontline advanced NSCLC.

On 27 July, 2020, AstraZeneca announced a global collaboration with Daiichi Sankyo to develop and commercialize DS-1062, an Antibody Drug Conjugate (ADC) designed to target the trophoblast cell-surface antigen 2 (TROP2). DS-1062, under development for multiple cancer types, including NSCLC and breast cancer, leverages Daiichi Sankyo's proprietary ADC technology to selectively deliver chemotherapy to cancer cells. AstraZeneca paid USD1 billion to Daiichi Sankyo as an upfront payment, with the potential for additional conditional payments of up to USD 5 billion based on regulatory approvals and sales milestones.

Lung Cancer Therapeutics Market Segment Analysis

For the purpose of this report, Emergen Research has segmented the global Lung cancer therapeutics market on the basis of type, application, deployment, enterprise size, component, vertical, and region:

Therapy Outlook (Revenue, USD Billion; 2019-2032)

Targeted Therapy

Bevacizumab

Dabrafenib/Trametinib

Erlotinib Hydrochloride

Osimertinib

Others

Immunotherapy

Durvalumab

Nivolumab

Atezolizumab

Pembrolizumab

Chemotherapy

Cisplatin

Taxol

Navelbine

Camptosar

Alimta

Distribution Outlook (Revenue, USD Billion; 2019-2032)

Hospital Pharmacies

Retail Pharmacies

Online Pharmacies

Cancer Outlook (Revenue, USD Billion; 2019-2032)

Non-Small Cell Lung Cancer (NSCLC)

Small Cell Lung Cancer (SCLC)

Molecule Outlook (Revenue, USD Billion; 2019-2032)

Biologics

Small Molecules

Mode of Administration Outlook (Revenue, USD Billion; 2019-2032)

Injectable

Oral

Type Outlook (Revenue, USD Billion; 2019-2032)

Acute Myeloid Leukemia (AML)

Chronic Myeloid Leukemia (CML)

Acute Lymphoblastic Leukemia (ALL)

Chronic Lymphocytic Leukemia (CLL)

End-use Outlook (Revenue, USD Billion; 2019-2032)

Hospitals

Research Institutes

Regional Outlook (Revenue, USD Billion; 2019–2032)

North America

U.S.

Canada

Mexico

Europe

Germany

France

UK

Italy

Spain

Benelux

Rest of Europe

Asia Pacific

China

India

Japan

South Korea

Rest of APAC

Latin America

Brazil

Rest of LATAM

Middle East & Africa

Saudi Arabia

UAE

South Africa

Turkey

Rest of Middle East & Africa

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