Global Lung Cancer Drugs Industry to Grow by $23 Billion Over 2022-2026 – Get Insights Into the Major Trends and Opportunities – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “Lung Cancer Drugs Global Market Report 2022, Disease Type, End User, Drugs” report has been added to ResearchAndMarkets.com’s offering.

The global lung cancer drugs market is expected to grow from $28.45 billion in 2021 to $32.98 billion in 2022 at a compound annual growth rate (CAGR) of 15.9%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $56 billion in 2026 at a CAGR of 14.2%.

Major players in the lung cancer market are Bristol-Myers Squibb Company, Merck & Co., F. Hoffmann-La Roche Ltd., Novartis AG, Pfizer Inc., GlaxoSmithKlin, Vertiv Co., Sanofi-Aventis, Sun Pharmaceuticals Industries and Celgene Corporation.

North America is the largest region in the lung cancer drugs market in 2021. Middle East is expected to be the fastest growing region in the forecast period. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The rising prevalence rate of lung cancer is a major driver for the lung cancer market. This is mainly because an increase in prevalence and incidence rate of lung cancer cases propels the need for drugs that enable efficient and fast treatment of the disease. It also drives the industry to maintain a strong pipeline of drugs. According to the World Health Organization report, cancer led to around 10 million deaths in 2020, out of which, lung cancer was responsible for the largest number of deaths (1.80 million deaths).

Targeted drug therapy in combination with other therapies is an emerging trend in the lung cancer market. It involves the use of immunotherapy drugs combined with other therapies such as chemotherapy that help in early diagnosis, prevention and treatment of the disease. In this regard, drug manufacturers are developing targeted drug therapies for better diagnosis and treatment of lung cancer. For example, Merck and Co. developed pembrolizumab, which is a drug that helps the immune system to detect and fight cancer cells when used in addition to chemotherapy. This combination therapy showed an improvement in lung cancer status in patients. The drug is a major product of Merck and Co., and is sold under the brand name Keytruda.

Increasing use of biologics and targeted therapies is a major restraint for the lung cancer market. This is because chemical lung cancer drugs come with myriads of side effects and have a toxic effect on the body. Chemical drugs lack cell specificity, i.e., they destroy even the normal body cells along with cancer infected cells. While biologic drugs are highly targeted and work on cancer infected cells only. Biologic drugs are also very efficient with no side-effects. Clinical studies have also found that the probability of success of biologic drugs is much higher than the conventional chemical drugs. For example, Cetuximab, Gefitinib and Afatinib are lung cancer biologic drugs which specifically target only the muted form of tumours and do not destroy the normal body cells.

Report Scope

Where is the largest and fastest growing market for the lung cancer drugs? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? This report answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.

• The Market Characteristics section of the report defines and explains the market.
• The market size section gives the market size ($b) covering both the historic growth of the market, the impact of the COVID-19 virus and forecasting its recovery.
• Market segmentations break down market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the impact and recovery trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
• Competitive landscape gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Companies Mentioned

• Bristol-Myers Squibb Company
• Merck & Co.
• F. Hoffmann-La Roche Ltd.
• Novartis AG
• Pfizer Inc.
• GlaxoSmithKlin
• Vertiv Co.
• Sanofi-Aventis
• Sun Pharmaceuticals Industries
• Celgene Corporation
• Mylan
• Ono Pharmaceutical
• Teva Pharmaceutical
• Takeda Pharmaceutical
• Ziopharm Oncology
• Menarini
• AstraZeneca
• Shanghai Jinhe Bio-Technology
• Nlyte
• Panduit Corp.
• Schneider Electric
• Sunbird Inc.

For more information about this report visit https://www.researchandmarkets.com/r/1auqcn

Contacts

ResearchAndMarkets.com

Laura Wood, Senior Press Manager

[email protected]
For E.S.T Office Hours Call 1-917-300-0470

For U.S./CAN Toll Free Call 1-800-526-8630

For GMT Office Hours Call +353-1-416-8900