July 16, 2024

Advances In Targeted Therapies To Boost The Growth Of Non-Small Cell Lung Cancer Market

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.

Market Overview:

Non-small cell lung cancer (NSCLC) is the most common type of lung cancer, accounting for around 84% of all lung cancer cases. NSCLC includes three main subtypes namely adenocarcinoma, squamous cell carcinoma, and large cell carcinoma. Symptoms usually include coughing (with or without sputum), shortness of breath, chest pain, and unexplained weight loss among others. Factors such as tobacco smoking, exposure to radon gas or air pollution, and family history can increase the risk of NSCLC. While surgery, radiation therapy, and chemotherapy remain important treatment options, targeted therapies and immunotherapies have expanded treatment paradigms and improved outcomes in recent years.

Market key trends:

One of the major trends in the Non-Small Cell Lung Cancer market is the increasing focus on targeted therapies. Targeted therapies are designed to target specific molecular abnormalities within cancer cells and result in fewer side effects compared to conventional chemotherapy. Some of the major targeted therapies for NSCLC include angiogenesis inhibitors, EGFR inhibitors, ALK inhibitors, ROS1 inhibitors etc. In addition, immunotherapy is gaining popularity in NSCLC treatment. Immune checkpoint inhibitors that enhance the body’s natural anti-tumor immune response have shown promising results. Rising R&D investments by key players to develop newer targeted and immunotherapies is expected to drive the Non-Small Cell Lung Cancer market growth over the forecast period.

Porter’s Analysis

Threat of new entrants: The non-small cell lung cancer market requires substantial R&D investment and clinical trials that pose high entry barriers for new players.

Bargaining power of buyers: The bargaining power of buyers is moderate due to the presence of several treatment options for lung cancer. However, the threat of substitute drugs and therapies limits buyers’ power.

Bargaining power of suppliers: Large pharmaceutical companies that can produce large volumes of drugs have higher bargaining power over smaller pharmaceutical suppliers in this market.

Threat of new substitutes: The threat of substitutes is moderate as alternative treatment options like immunotherapy, targeted therapy and others can be used depending on the stage and type of lung cancer.

Competitive rivalry: The non-small cell lung cancer market witnesses intense competition among the key established players.

Key Takeaways

The Global Non-Small Cell Lung Cancer Market Size is expected to reach US$ 37,230.21 million by 2030, exhibiting a CAGR of 9.4% over the forecast period. Increasing prevalence of lung cancer, rising cigarette smoking rate, growing geriatric population are some factors expected to drive the market.

Regional analysis:

 

North America dominated the global market in 2023 and is expected to maintain its lead over the forecast period. This is attributed to growing incidence of lung cancer, rising healthcare expenditure, and availability of advanced treatment facilities in the region. Asia Pacific region is anticipated to exhibit the fastest growth during the projected timeline due to increasing smoking habits, growing awareness about lung cancer and its treatment.

Key players:

 

Pfizer Inc., AstraZeneca plc, and F. Hoffmann-La Roche Ltd. are the leading players in the non-small cell lung cancer market. Pfizer Inc. offers drugs like Ibrance, Sutent and Inlyta for treating lung cancer. AstraZeneca plc provides quality treatment options like Tagrisso, Imfinzi and Lynparza. F. Hoffmann-La Roche Ltd markets drugs such as Avastin, Tarceva and Alecensa used for NSCLC treatment.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it