The global lung cancer therapeutics market will post a CAGR of over 13% during the period 2019-2023 (Graphic: Business Wire)
The global lung cancer therapeutics market is expected to post a CAGR of over 13% during the period 2019-2023, according to the latest market research report by Technavio.
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The global lung cancer therapeutics market will post a CAGR of over 13% during the period 2019-2023 (Graphic: Business Wire)
Lung cancer is one of the most common types of cancer. Owing to factors such as increasing geriatric population and lifestyle changes, new cases of cancer, especially lung cancer, have risen significantly in recent years. Also, the mortality rate of lung cancer is still significantly very high, which creates a huge opportunity for vendors in the market. The increasing need for treatment along with advances in therapeutics such as immunotherapy and chemotherapy is leading the growth of the global lung cancer therapeutics market.
As per Technavio, the advent of regenerative therapies will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global lung cancer therapeutics market 2019-2023research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global lung cancer therapeutics market: Advent of regenerative therapies
The global lung cancer therapeutics market is undergoing various technological changes to develop more advanced treatment options. Currently, chemotherapy, immunomodulators, and other biological drugs are the only treatment options available in the market for the treatment of NSCLC and SCLC. Even though targeted therapies such as immunomodulators are highly effective in the treatment of lung cancer, the use of these drugs does not entirely ensure the cure of these indications. To overcome the increasing prevalence of lung cancer and to cure the indication, various vendors are focusing on developing regenerative therapies such as gene therapies. Currently, various studies are being conducted in vitro and in vivo on genes for the treatment of lung cancer. These therapies are currently in the early stages of development, and research is being conducted to ensure the development of treatments with no adverse effects. Such advances in research are expected to contribute significantly to the growth of the global lung cancer therapeutics market.
“Along with the advent of regenerative therapies, the increasing number of patient assistance programs is one other factor that is driving the growth of the global market. The drugs in the global lung cancer therapeutics market are priced high due to the heavy R&D costs. Hence, the governments of various countries have launched patient assistance programs to reduce the high-cost burden associated with lung cancer. Several initiatives are being undertaken by various organizations to help the patients to receive treatment on time,” says a senior analyst at Technavio.
Global lung cancer therapeutics market:
Segmentation analysis
This market research report segments the global lung cancer therapeutics market by product (non-small-cell lung cancer and small-cell lung cancer) and geographical regions (North America, Europe, Asia, and ROW).
The North American region led the market in 2018, followed by Europe, Asia, and ROW respectively. However, during the forecast period, Asia is expected to register the highest incremental growth due to the increasing number of awareness campaigns by government organizations and vendors.
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Some of the key topics covered in the report include:
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation
Geographical Segmentation
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
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