Dublin, May 15, 2023 (GLOBE NEWSWIRE) -- The "Lung Cancer Therapeutics Market- Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Cancer Cell Type (Non-small Cell Lung Cancer (NSCLC), Small Cell Lung Cancer (SCLC)), By Treatment, By Region" report has been added to ResearchAndMarkets.com's offering.
The global lung cancer therapeutics market is projected to witness impressive growth to 2028
The factors contributing to the growth of the market are the increasing incidence of lung cancer and sophisticated treatments associated with lung cancer.
Lung cancer therapeutics is a branch of medicine concerned with the treatment of lung cancer, which includes radiation therapy, chemotherapy, targeted therapy, immunotherapy, and others. The treatment also includes the adoption of personalized medicines to increase the rate of survival in terms of the high proliferation of cancer cells in the lungs.
The introduction of nanomedicines to treat lung cancer and regulatory approvals of medicines is expected to drive the growth of the market during the forecast period. Further, a surge in lung cancer prevalence and the dominance of chemotherapy are driving the growth of the market during the forecast period.
Increasing Prevalence of Lung Cancer
Lung cancer (both small cell and non-small cell) is the second most common cancer globally.
As per the American Cancer Society's estimates for lung cancer in 2022, approximately 236,740 new cases of lung cancer (117,910 in men and 118,830 in women) were reported in the US, and about 130,180 (68,820 men and 61,360 women) people died due to lung cancer.
Further, the overall chances of lung cancer prevalence in a man for a lifetime period are 1 in 15, and for women, the risk is about 1 in 17. This number includes smokers as we non-smokers.
The rise in demand for Immunotherapy
The use of medications, vaccinations, and other therapies to stimulate the immune system's natural defenses so that it can combat cancer is known as immunotherapy.
One class of immunotherapy medication known as "anti-PD-1" has been demonstrated to result in significant tumor regression in 25% of patients who get it after a round of chemotherapy. Three immunotherapy drugs - pembrolizumab, atezolizumab, and nivolumab have been approved to treat certain non-small cell lung cancers.
Additionally, several organizations are funding immunotherapy research, which is anticipated to boost market expansion. For instance, in 2022, to create innovative immunotherapy medicines for cancer, the Parker Institute for Cancer Immunotherapy collaborated with scientists and business pioneers. Hence, rising investment and adoption of immunotherapy are fueling the demand for the global lung cancer therapeutics market.
Side Effects of cancer treatment
Lung cancer is a chronic disease with lengthy treatments. These treatments affect the human body due to high and long exposure to drugs. Some of the common side effects related cancer curing drugs include breathing problems, fatigue, infection, bleeding, anemia, Stomach problems (nausea, vomiting, diarrhea, or constipation), changes in appearance, hair fall, and others.
For instance, Chemotherapy attacks cancer cells, but it also impacts some healthy cells in the hair follicles, blood, mouth, and digestive system. Moreover, side effects vary from person to person and the dose used to treat cancer. Hence, the side effects of cancer treatment are projected to hamper the growth of the market.
Market Dynamics
Drivers
- Increasing Prevalence of Lung Cancer
- Rise in the number of Tobacco Smokers
- Rise in demand for Immunotherapy
Challenges
- High Cost of Cancer Treatment
- Side Effects of Drugs
- Lack of skilled workforce
Market Trends & Developments
- Product Launches
- Mergers & Acquisitions
- Technological Advancements
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in the Global Lung Cancer Therapeutics Market.
- AstraZeneca Plc
- Boehringer Ingelheim International GmbH.
- Bristol-Myers Squibb Company
- Eli Lilly and Company
- F. Hoffmann-La Roche Ltd.
- Merck & Co
- Pfizer Inc.
- Allergan Inc.
- Teva Pharmaceutical Industries Ltd.
- Abbvie, Inc.
- Johnson & Johnson
- Amgen Inc.
- Novartis AG
Report Scope:
Lung Cancer Therapeutics Market, By Cancer Cell Type:
- Non-small Cell Lung Cancer (NSCLC)
- Small Cell Lung Cancer (SCLC)
Lung Cancer Therapeutics Market, By Treatment:
- Chemotherapy
- Radiation Therapy
- Immunotherapy
- Targeted Therapy
- Other Treatments
Lung Cancer Therapeutics Market, By Region:
- North America
- United States
- Canada
- Mexico
- Europe
- France
- Germany
- United Kingdom
- Italy
- Spain
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Australia
- South America
- Brazil
- Argentina
- Colombia
- Middle East & Africa
- UAE
- Saudi Arabia
- South Africa
- Turkey
- Egypt
For more information about this report visit https://www.researchandmarkets.com/r/icy0oz
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