by The 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.
Market Overview:
Non-small cell lung cancer (NSCLC) refers to the type of lung cancer that makes up about 80-85% of all lung cancer cases. The two main types of NSCLC are squamous cell carcinoma and adenocarcinoma. Some common symptoms include cough, shortness of breath, chest pain, fatigue and weight loss. Treatments for NSCLC include surgery, chemotherapy, radiation therapy and targeted drugs. Drugs like gefitinib (Iressa), afatinib (Gilotrif) and erlotinib (Tarceva) aim at blocking signals cancer uses to grow and spread by targeting epidermal growth factor receptor (EGFR) mutations.
Market Dynamics:
The growing aging population and increasing smoking rates globally are the major drivers fueling the growth of the non-small cell lung cancer market. According to WHO, around 1.8 billion people smoked tobacco in 2018 and smoking caused over 8 million deaths worldwide. Further, around 87% of lung cancer deaths are caused due to tobacco use. The other driver boosting the market growth is rising investment by key players in the development of targeted therapies for NSCLC. For instance, in 2019, Novartis received FDA approval for is expansion of indication for its drug Capmatinib to treat NSCLC patients carrying a specific mutation. Increasing research collaborations between academic institutes and companies is another factor supporting the market growth. However, stringent regulatory policies and higher costs associated with development and production of targeted drugs are the major challenges restraining the market.
Segment Analysis
The global non-small cell lung cancer market is dominated by the targeted therapy segment. Targeted therapies are drugs or substances which block the growth and spread of cancer by interfering with specific targeted molecules involved in tumor growth and progression. Targeted therapies are widely prescribed for non-small cell lung cancer treatment as they have significantly lesser side-effects as compared to traditional chemotherapy. These therapies are more effective on tumors with specific molecular changes or gene mutations such as EGFR mutations, ALK rearrangements and ROS1 rearrangements.
PEST Analysis
Political: The governments across various countries are increasing healthcare spending to enhance treatment and diagnostic capabilities for cancer including lung cancer. Various initiatives are being taken to improve awareness levels regarding early detection of cancer.
Economic: The rising incidences of lung cancer cases globally has generated demand for advanced therapies. However, the high cost of targeted therapies remains a key challenge for widespread adoption.
Social: Growing health consciousness and awareness regarding symptoms of cancer is leading to early diagnosis. However, social stigma still remains a concern in developing nations regarding certain types of cancer.
Technological: Advancements in genomic profiling techniques are allowing identification of specific molecular mutations in tumors enabling development of personalized targeted therapies. Rapid diagnostic tests and non-invasive liquid biopsy techniques are also gaining popularity.
Key Takeaways
The Global Non-Small Cell Lung Cancer Market Size is expected to witness high growth, exhibiting CAGR of 9.4% over the forecast period, due to increasing preference for targeted therapies over conventional chemotherapy.
Regional analysis:
North America dominated the non-small cell lung cancer treatment market in 2023 due to availability of advanced therapies and diagnostic techniques. Asia Pacific is expected to witness fastest growth during the forecast period owing to rising incidences of cancer, improving healthcare infrastructure and increasing expenditure capabilities in the region.
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. These players are collaborating with biotechnology companies and focusing on developing innovative targeted therapies to capture market share.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. With an MBA in E-commerce, she has an expertise in SEO-optimized content that resonates with industry professionals.
