Lung Cancer Therapeutics Market Size, Share, Industry, Forecast and outlook (2024-2031)

Lung Cancer Therapeutics Market is Segmented By Treatment (Targeted Therapy, Immunotherapy, Chemotherapy, Radiation Therapy, Others), By Disease Type (Non-Small Cell Lung Cancer (NSCLC), Small Cell Lung Cancer (SCLC)), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Other), By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031

Lung Cancer Therapeutics Market Overview

The Global Lung Cancer Therapeutics Market reached usD 27.2 billion in 2022 and is projected to witness lucrative growth by reaching up to usD 59.5 billion by 2030. The global lung cancer therapeutics market is expected to exhibit a CAGR of 10.5% during the forecast period 2024-2031. Lung cancer is one of the most frequent kinds of metastatic cancer worldwide. It is the main cause of cancer-related mortality.

It is a malignant tumor that begins in the lung tissue and can spread to other regions of the body via the bloodstream or lymphatic system. The two most frequent kinds of lung cancer are Non-Small Cell Lung Cancer (NSCLC) and Small Cell Lung Cancer (SCLC). 

Lung cancer therapeutics market is driven by various factors like unhealthy lifestyles, demand for targeted therapies, presence of highly efficient drugs, high incidence rate and rising pollution. The other factors influencing the global lung cancer therapeutics market are the increasing research and development of new drugs and the growing prevalence of lung cancer.

Lung Cancer Therapeutics Market Scope

To Know More: Download Sample

Lung Cancer Therapeutics Market Dynamics

Increase in the Adoption of Unhealthy Lifestyle

One of the primary factors driving the overall growth rate of the lung cancer treatment market is the increase in the adoption of unhealthy lifestyles, such as smoking. It is becoming increasingly clear that people’s lifestyle choices have a considerable impact on  risk of acquiring cancer. Cigarette smoking is well recognized as the leading cause of lung cancer. 

For instance According to the Centres for Disease Control and Prevention (CDC), over 16 million Americans suffer from smoking-related ailments. According to the CDC, cigarette smoking causes more than 4,80,000 deaths in the United States alone each year. Every day, more than 1,300 people die. However, hospitalisations are necessary for treating acute diseases and increase the risk of nosocomial infections, which are usually caused by antibiotic-resistant microbes.

Demand for Targeted Therapies

The rising need for targeted treatments such as chemotherapy, immunotherapy, surgery and radiation therapy to treat lung cancer is propelling the market forward. The desire for targeted therapies to treat and cure lung cancer, such as chemotherapy, immunotherapy, surgery and radiation therapy, drives the industry's growth. Since it is significantly more successful than chemotherapy, targeted therapy is becoming increasingly popular as a cancer treatment option. While chemotherapy has less success rate, compared to targeted treatment.

For instance, on September 13, 2022, Enhertu launched the first targeted therapy for HER2-mutant for lung cancer. Trastuzumab deruxtecan (Enhertu) was granted fast approval by the Food and Drug Administration (FDA) for individuals with NSCLC who had a certain type of mutation in the HER2 gene (called "activating" mutation). This kind of HER2 mutation affects around 3% of persons with NSCLC.

The approval was based mostly on the findings of a phase 2 clinical experiment called DESTINY-Lung02, in which Enhertu medication decreased tumors in more than half of the study participants. All of the patients in the trial had NSCLC that had progressed despite previous therapies. The market's expansion would be hampered by drug-related side effects. 

Side Effects Associated with Lung Cancer Treatment 

Side effects usually appear a week after radiation begins. They gradually worsen throughout therapy and for a few weeks after it is completed. However, they normally start to improve after around 2 weeks. A low quantity of blood cells, vomiting, nausea, hair loss, diarrhea, exhaustion, peripheral nerve damage, a reduction in appetite, irritated skin issues in the mouth and throat and constipation are some of the most prevalent adverse effects of lung cancer chemotherapy medications.

Lung Cancer Therapeutics Market Segment Analysis

The global lung cancer therapeutics market is segmented based on treatment type, disease type,  distribution channel and region.

Owing to the Rise Of Product Approvals, the NSCLC In Disease Type Segment Accounted for Approximately 76.1 % of the Lung Cancer Therapeutics Market Share

The most frequent kind of lung cancer is non-small cell lung cancer. Histologically, NSCLC is divided into three types: adenocarcinoma, squamous cell carcinoma (SCC) and giant cell carcinoma. Non-small cell lung cancer develops more slowly than small cell lung cancer, but it frequently spreads to other regions of your body by the time it is discovered. 

NSCLC begins at the cellular level, causing malignant lung cells to grow at an uncontrollable rate. It often occurs in the outer part of the lungs and is more common in women. The stage of cancer is established after a diagnosis of NSCLC.

For instance, On May 31, 2023, Nivolumab/Chemo is recommended for approval by the EU's CHMP in resectable NSCLC. According to a press release from Bristol Myers Squibb, the European Medicines Agency's (EMA) Committee for Medicinal Products for Human Use (CHMP) has recommended approving nivolumab (Opdivo) plus platinum-containing chemotherapy as a neoadjuvant treatment for patients with resectable, PD-L1-positive non-small cell lung cancer (NSCLC) at high risk of recurrence.

Source: DataM Intelligence Analysis (2023)

Global Lung Cancer Therapeutics Market Geographical Penetration

North America Accounted for Approximately 40.3 % of the Market Share in 2022, Owing to the Strong Presence of Major Players and Increasing Healthcare Infrastructure Investment

Throughout the projected period, North America is expected to occupy around 40.3% of the total market share. The presence of numerous top biopharmaceutical firms in this area has made significant contributions to the development and expansion of the lung cancer treatment industry. Furthermore, growing health insurance penetration in North America has resulted in enhanced access to advanced and pricey treatments. 

Furthermore, the presence of a robust and established healthcare infrastructure, as well as better access to modern healthcare facilities in the region, has considerably helped the market's growth. Government agencies such as the US FDA have worked tirelessly to monitor and approve numerous new cures in the region.

For instance, on Dec 13 2022 Mirati's lung cancer medication has been approved by the US Food and Drug Administration. The FDA has given fast clearance to Mirati Therapeutics' Krazati (adagrasib) as a targeted therapeutic option for people with KRASG12C-mutated locally progressed or metastatic non-small cell lung cancer (NSCLC). The therapy is recommended for individuals who have previously undergone at least one systemic therapy.

Source: DataM Intelligence Analysis (2023)

Lung Cancer Therapeutics Market Key Players

The major global players in the lung cancer therapeutics market include Pfizer, Merck & Co, Amgen, AstraZeneca, Boehringer Ingelheim, Bristol-Myers Squibb, Novartis AG, Eli Lilly, F. Hoffmann-La Roche Ltd and Abbvie.

COVID-19 Impact on Lung Cancer Therapeutics Market

Russia-Ukraine Conflict Analysis

The Russia-Ukraine is estimated to have a minimal impact on the lung cancer therapeutics market owing to the low prevalence and absence of key market players in this region. However, the impact of the import and export of raw materials, test products and devices is anticipated to have little influence over the lung cancer therapeutics market in the forecast period. 

Key Developments

• In June 2023, ASCO Merck & Co. released fresh data that will establish Keytruda, which is given both before and after surgery, as a new standard of care for the treatment of early-stage non-small cell lung cancer.
• In Nov 2022 The FDA approved a new immunotherapy combo for mNSCLC. The US Food and Drug Administration (FDA) has authorized the immunotherapy combination to be used in conjunction with platinum-based chemotherapy for the treatment of persons with metastatic non-small cell lung cancer (NSCLC) whose tumors do not exhibit epidermal growth factor receptor (EGFR) mutations or ALK abnormalities.
• In Sep 2022, FDA Approved Elli Lilly's Retevmo (selpercatinib), the first and only RET Inhibitor for Adults with Advanced or Metastatic Solid Tumors with a RET Gene Fusion.

Eli Lilly and Company announced that the U.S. Food and Drug Administration (FDA) has approved Retevmo (selpercatinib, 40 mg & 80 mg capsules) for adult patients with locally advanced or metastatic solid tumors with a gene fusion who have progressed on or following prior systemic treatment or who have no satisfactory alternative treatment options. 

Why Purchase the Report?

• To visualize the global lung cancer therapeutics market segmentation based on treatment type, disease type, and distribution channel, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development. 
• Excel data sheet with numerous data points of lung cancer therapeutics market level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as Excel consisting of key products of all the major players.

The Global Lung Cancer Therapeutics Market Report Would Provide Approximately 53 Tables, 54 Figures and 195 Pages.