Lung cancer treatment industry is anticipated to register 12.4% CAGR between 2023 and 2032 due to increasing prevalence of lung cancer across the globe and growing trend of smoking tobacco.
Selbyville, Delaware, May 31, 2023 (GLOBE NEWSWIRE) —
Lung Cancer Treatment Market size is expected to surpass USD 49.4 billion by 2032. The rising awareness regarding the treatments of chronic and life-threatening diseases such as lung cancer is among the chief drivers of the lung cancer treatment industry trends. Moreover, consistent efforts and heavy investments by pharmaceutical companies and research institutions in the development of new drugs and treatment modalities for lung cancer are propelling product gains. This has resulted in the introduction of innovative therapies and treatment approaches, providing patients with more options for managing their condition and boosting product uptake.
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Innovation in therapies to augment small cell lung cancer treatment demand
The market for lung cancer treatment is classified into non-small cell lung cancer, carcinoid, and small cell lung cancer. The small cell lung cancer segment will observe notable expansion through 2032. SCLC is one of the two main types of lung cancer, accounting for approximately 10-15% of all lung cancer cases. Improved diagnostic technologies, such as computed tomography (CT) scans, positron emission tomography (PET) scans, and liquid biopsies, are enhancing the detection and diagnosis of small cell lung cancer at earlier stages.
Immunotherapy to attain a significant industry share
The lung cancer treatment market from immunotherapy segment is slated to expand at a strong CAGR from 2023 to 2032. Drugs such as immune checkpoint inhibitors, pembrolizumab, and nivolumab have shown significant benefits in terms of overall survival and progression-free survival in certain lung cancer patients. In addition, pharmaceutical companies are consistently investing in rigorous R&D programs involving immunotherapeutic agents for lung cancer treatment.
Browse key industry insights spread across 182 pages with 362 market data tables & 17 figures & charts from the report, “Lung Cancer Treatment Market Size By Type (Carcinoid, Non-small & Small Cell), By Therapy [(Radiation, Immunotherapy (Durvalumab), Targeted (Bevacizumab), Chemotherapy], By End-user (Hospitals, Specialty Clinics, Homecare), Global Forecast, 2023–2032” In detail along with the table of contents:
https://www.gminsights.com/industry-analysis/lung-cancer-treatment-market
APAC to attain a prominent share of the lung cancer treatment industry
Asia Pacific lung cancer treatment market is primed to witness sizable growth by 2032. The rising number of people suffering from lung cancer is caused by various factors, including high smoking rates, exposure to environmental pollutants, and changing lifestyles. Moreover, the growing geriatric population is promoting the need for lung cancer treatment in the region. Increasing awareness about lung cancer and its risk factors has resulted in a greater emphasis on early detection and timely treatment, which is supporting APAC’s business expansion.
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Major lung cancer treatment market players
Some of the key players profiled in the lung cancer treatment industry report include Merck KGaA, Boehringer Ingelheim International GmbH, Ono Pharmaceutical Co., Ltd., Pfizer Inc., GlaxoSmithKline plc., Johnson & Johnson Services, Inc., Takeda Pharmaceutical Company Limited, Sun Pharmaceutical Industries Ltd., AstraZeneca, Church & Dwight Co., Inc., and among others.
Lung cancer treatment market news
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In January 2022, Takeda Pharmaceutical Company Limited, a biopharmaceutical company, announced the acquisition of Adaptate Biotherapeutics to strengthen the development of its Novel Gamma Delta T Cell Engager Therapies for solid tumors.
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In March 2022, Sun Pharmaceutical Industries Ltd. introduced its version of Vortioxetine in the Indian market under an exclusive patent license. With this, the company aims to boost its market position and increase customer reach.
Partial Table of Contents (ToC) of the report:
Chapter 2 Executive Summary
2.1 Lung Cancer Treatment industry 360° synopsis, 2018 – 2032 (USD Million)
2.1.1 Business trends
2.1.2 Type trends
2.1.3 By Therapy trends
2.1.4 End-user trends
2.1.5 Regional trends
Chapter 3 Lung Cancer Treatment Industry Insights
3.1 Industry ecosystem analysis
3.2 Industry impact forces
3.2.1 Growth drivers
3.2.1.1 Increasing prevalence of lung cancer across the globe
3.2.1.2 The growing trend of smoking tobacco
3.2.1.3 Rising levels of air pollution due to rapid industrialization
3.2.1.4 Increasing emphasis on early diagnosis of cancers
3.2.1.5 Rising technological advancements in lung cancer treatment
3.2.1.6 Availability of reimbursement for lung cancer treatment
3.2.2 Industry pitfalls & challenges
3.2.2.1 The high cost of lung cancer treatments
3.2.2.2 Side effects of drugs and therapies
3.3 Growth potential analysis
3.3.1 By type
3.3.2 By therapy
3.3.3 By end-user
3.4 COVID-19 impact analysis
3.5 Clinical trial analysis
3.6 Regulatory landscape
3.6.1 U.S.
3.6.2 Europe
3.7 Technology landscape
3.8 Porter’s analysis
3.9 PESTEL analysis
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