The global Non-Small Cell Lung Cancer Market is estimated to be valued at US$ 27252.31 Mn in 2023 and is expected to exhibit a CAGR of 9.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Non-small cell lung cancer (NSCLC) is the most common type of lung cancer. It accounts for around 85% of all lung cancer cases. NSCLC can further be classified into three main types – adenocarcinoma, squamous cell carcinoma, and large cell carcinoma. NSCLC generally does not respond well to chemotherapy but targeted therapies and immunotherapies have improved treatment outcomes in recent years. The market is mainly driven by the increasing prevalence of lung cancer worldwide due to growing risk factors such as smoking, rising pollution levels, etc. Advancements in targeted drugs and immunotherapies have provided improved treatment options to physicians.
Market Key Trends:
The NSCLC market is witnessing high demand for targeted therapies and immune checkpoint inhibitors. Some of the key targeted drugs available are gefitinib, erlotinib, afatinib which target mutations in EGFR gene. Immunotherapies such as pembrolizumab and nivolumab that work by releasing the brakes on immune system have gained widespread adoption. Combination therapies using targeted drugs along with immunotherapies are emerging as a promising treatment strategy. Biomarker testing to detect driver mutations before deciding the treatment regimen has become an important part of NSCLC management. Increase in biomarker testing volume will augment the market growth during the forecast period.
Threat of new entrants: The threat of new entrants is moderate in the Non-Small Cell Lung Cancer Market size due to the significant product development costs. However, there are opportunities for specialty drugs.
Bargaining power of buyers: The bargaining power of buyers is high as non-small cell lung cancer drugs are mostly generic and treat similar medical conditions. Buyers can negotiate on price.
Bargaining power of suppliers: The bargaining power of suppliers is low to moderate as raw material suppliers have a limited influence over pricing due to the presence of substitutes.
Threat of new substitutes: The threat of new substitutes is moderate as alternative treatment options are available that may affect the demand and average price of drugs.
Competitive rivalry: Competition is high among the key established players.
The global Non-Small Cell Lung Cancer Market is expected to witness high growth, exhibiting CAGR of 9.4% over the forecast period, due to increasing incidence of lung cancer cases worldwide. According to the American Cancer Society, lung cancer accounted for over 228,000 new cases and around 135,000 deaths in the United States in 2019.
Regional analysis: North America dominated the global Non-Small Cell Lung Cancer Market in 2023 due to developed healthcare infrastructure, rise in lung cancer burden and availability of advanced treatment options in the region. Asia Pacific is expected to exhibit the highest growth over the forecast period supported by healthcare development initiatives by governments, growing number of contract research organizations and increasing patient population in China and India.
Key players: Key players operating in the Non-Small Cell Lung Cancer Market are Pfizer Inc., AstraZeneca plc, F. Hoffmann-La Roche Ltd., Eli Lilly and Company, Boehringer Ingelheim GMBH, Novartis AG, Bristol-Myers Squibb Company, and Merck & Co., Inc.