Pune, India, April 13, 2022 (GLOBE NEWSWIRE) -- The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and Middle East and Africa. These are the key regions where the lung cancer therapeutics market is operating currently and is predicted to expand in the near future. The manufacturers and suppliers involved in the lung cancer therapeutics market is present across various countries in the above-mentioned regions.
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The report provides detailed understanding of the market segments which have been formed by combining different prospects such as the product category, application, technology, end-users and others. Apart from this, the key driving factors, restraints, potential growth opportunities and market challenges are also discussed in the below paragraphs.
Global Lung Cancer Therapeutics Market Size by Type (Small Cell Lung Cancer, Non-small Cell Lung Cancer and Lung Carcinoid Cancer), Therapy [Immunotherapy, Targeted Therapy (Tarceva, Gilotrif, Iressa, Avastin and Others), Radiotherapy (Internal Radiotherapy, External Beam Radiotherapy and Systematic Radiotherapy), and Chemotherapy (Navelbine, Alimta, Gemzar, Paraplatin, Taxotere and Others)], Molecule Type (Biologics and Small Molecules), End-users (Hospitals, Diagnostics Centers, Specialty Clinics and Others) Regions, Segmentation, and forecast till 2028.
Lung cancer is known as one of the most common types of cancer which has high occurrence especially in US and Europe. Lung cancer also has high death rate among women and men. There are various causes of lung cancer, however, cigarette smoking is one of the most projecting and dominating cause. It is even described as the uncontrolled growth of the cell tissues, which turns into a malignant tumor. The patient suffering from lung cancer does not have the ability to deliver oxygen in the bloodstreams. There are varied symptoms of lung cancer such as wheezing, coughing, loss in weight, loss of breath, etc. The lung cancer therapeutics enables the diagnosis and treatment of the same with the help of multiple systems.
The occurrence of lung cancer has increased in the recent years owing to high number of smokers population. Further, CDC has stated that lung cancer is one of the primary cancers which majorly results in death of the patient. It is more prevalent in the geriatric population due to age related issues. Additionally, unhealth lifestyles and smoking habits has led to increasing occurrence of lung cancer in younger demographics. This has led to rising funding for the research and development of advance therapeutics which can help in effective diagnosis of the lung cancer at an early stage and shorter period of treatment.
The public and private organizations in most of the developed and developing regions, is providing regulatory scenario which is favourable for the lung cancer therapeutics market. The growth of nanotechnology and nanomedicines has attracted new investments in the lung cancer therapeutics market. The launch of new lung cancer therapeutics by key manufacturers has gained popularity among the healthcare professionals as it can is easy to use as compared to the traditional systems. The use of target therapies is the focus of the healthcare professionals owing to the accuracy of treatment. On the other side, the degradation of environment has led to deterioration of air quality. The poor quality of air is giving rise to numerous diseases related to lungs, which converts into a type of cancer if not treated on time. However, the high cost of lung cancer therapeutics systems and instruments is restraining the growth of the market.
The significant players operating in the global lung cancer therapeutics market are Astellas, Novartis AG, Sanofi, Pfizer Inc., AstraZeneca, Merck Sharp and Dohme Corporation, Millennium Pharmaceuticals Inc., Bristol Myers Squibb, Celgene Corporation, Eli Lilly and Company, Genentech, Boehringer Ingelheim Pharmaceuticals Inc., Agennix AG, GlaxoSmithKline Plc, Daiichi Sankyo, and others. To achieve a substantial market share in the worldwide lung cancer therapeutics market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures. Among these, Astellas and Novartis AG are one of the most significant manufacturers and distributors present in the global lung cancer therapeutics market.
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Segmentation Analysis
The non-small lung cancer segment led the lung cancer therapeutics market with a market share of around 46.02% in 2021.
The type segment includes small cell lung cancer, non-small cell lung cancer and lung carcinoid cancer. Out of these, non-small cell lung cancer segment is the dominant type used in lung cancer therapeutics market. Around 85 percent of the lung cancer are found to be non-small cell lung cancer. Non-small cell lung cancer grows gradually. The non-small lung cancer is treated with the help of advance therapeutics depending upon the age and underlying conditions of the patient.
The targeted therapy segment led the lung cancer therapeutics market with a market share of around 48.39% in 2021.
The therapy segment includes immunotherapy, targeted therapy, radiotherapy, and chemotherapy. The targeted therapy segment further includes Tarceva, Gilotrif, Iressa, Avastin and others. The radiotherapy segment further includes internal radiotherapy, external beam radiotherapy and systematic radiotherapy. The chemotherapy segment further includes Navelbine, Alimta, Gemzar, Paraplatin, Taxotere and others. Among these, targeted therapy segment is the dominant type used in lung cancer therapeutics market. The targeted therapy is the newest lung cancer therapeutics which have been found to limit the affect of radiation on other body parts apart from the lungs. Various studies have stated that target therapy is better than the other therapies.
The small molecule segment led the lung cancer therapeutics market with a market share of around 66.78% in 2021.
The molecule type segment includes biologics and small molecules. The small molecules segment is the dominant type used in lung cancer therapeutics market. Small molecules are increasingly used in the treatment of lung cancer, owing to the rising preference of professionals towards nano-therapy. Small molecules are easier to absorb and dissolve in the formulations, which makes it favourable for the preparation of lung cancer therapeutics drugs.
The hospital segment led the lung cancer therapeutics market with a market share of around 47.19% in 2021.
The end-user segment includes hospitals, diagnostics centers, specialty clinics and others. Hospitals have the most use of lung cancer therapeutics owing to the high incoming of patients. Hospital facilities deals in complete diagnosis and treatment of lung cancer, which requires the use of the instruments and drugs.
Regional Analysis
The regional analysis provides a detailed perception about the key regions and the countries. Some of the key countries analyzed for the lung cancer therapeutics diagnostics include US, Canada, Mexico, Germany, France, U.K., Italy, Spain, Russia, China, Japan India, Brazil, Peru, UAE, South Africa and Saudi Arabia.
North America region dominated the lung cancer therapeutics diagnostics market and held the 39.17% share of the market revenue in 2021. The growth of the market in the region can be attributed to various factors, such as high share of geriatric population, presence of many global and regional manufacturers, and investment in diagnosis of the cancer at earlier stages. However, Asia-Pacific is projected to register higher growth rate during the forecast period of 2022-2028. The region is investing hugely in chemotherapies and radiology therapeutics. Japan and China are willing to increase their expenses in advance immunotherapies.
Covid-19 Impact
Covid-19 had a major impact on almost all of the industries such as construction, manufacturing, oil and gas, food and beverages, etc. The demand for lung cancer therapeutics has slowed a bit during the period owing to the regulations on social distancing and increasing focus on safety. In most of the regions, the routine lung cancer therapeutics was cancelled owing to the virus phobia. Also, the healthcare professionals were deployed in the treatment of patients suffering from covid-19. However, as lung cancer therapeutics is necessary for the patient population, the market will retain it’s growth projection in a short period of time.
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