North America Dominates The Global Lung Cancer Drugs Market
The lung cancer drugs market is expected to witness a CAGR of 13.6% to reach $55.4 billion by 2025
Bangalore, India, May 06, 2019: With its recently published study “Global Lung Cancer Drugs Market – Drivers, Restraints, Opportunities, Trends, and Forecast up to 2025”, Infoholic Research forecasts that the global lung cancer drugs market will continue to grow owing to increasing diagnosis rate and increasing incidence of lung cancer cases across the globe mainly due to increasing tobacco consumption, increase in the lung cancer treatment rates, increasing rate of effective drug approvals as first line therapies, and strategic deals to develop new products. Rapid industrialization leading to increasing pollution is also expected to fuel the lung cancer drugs market during the forecast period 2019–2025.
The lung cancer drugs market by disease type is segmented into small cell lung cancer (SCLC) and non-small cell lung cancer (NSCLC). NSCLC is the most prevalent lung cancer type and the NSCLC treatment therapies are expected to continue growing at a higher CAGR rate as compared to the SCLC treatment drugs and therapies during the forecast period 2019–2025. The increasing incidence and prevalence of NSCLC makes this cancer type as one of the leading cancers globally.
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The lung cancer drugs market by molecule type is segmented into small molecules and biologics. Small molecules occupied a major share in 2018, however use of biologics and particularly the mAbs to treat lung cancer types is expected to grow at a much higher CAGR during the forecast period 2019–2025. Increasing approval of biologics drugs, strong pipeline targeting first-line treatment, and rising adoption of biologics among oncologists makes it the fastest growing segment of global lung cancer drugs market.
The global lung cancer drugs by region is segmented into North America, Europe, Asia Pacific, and Rest of the World. North America occupied a major market share in 2018, however Asia Pacific is expected to grow at higher CAGR during the forecast period 2019–2025. Upsurge in the incidence of lung cancer cases, increase in the smoking population, growing healthcare expenditure, and anticipated pipeline drugs makes Asia Pacific the fastest growing region during the forecast period.
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“The lung cancer drugs market is growing steadily and the key market players uses product approvals as first-line treatment therapy and in combination with chemotherapy, collaborations, and regulatory submission of already matured cancer treatments in the developing countries as major strategies to increase their revenue. Many of the global players are also focusing on providing home infusion services in the developed markets with secured and safe cold chain logistic infrastructure. This Direct-to-Patient (DTP) strategy is also helping market players to expand their patient volumes and thus the overall revenues globally.
“For instance, in April 2019, the EMA approved dacomitinib (Vizimpro) developed by Pfizer for adult patients with locally advanced or metastatic NSCLC with EGFR-activating mutations. In another example, during March and April 2018, US FDA approved a supplemental Biologics License Application (sBLA) of BMS’ nivolumab (Opdivo) for a four-week dosing schedule across a host of cancer indications. Under this approval, the oncologists are now able to prescribe a new 480 mg of nivolumab infused every 30 minutes every four weeks. For NSCLC, nivolumab is given as a monotherapy for the treatment of locally advanced or metastatic NSCLC after prior chemotherapy in adults as 240 mg every 2 weeks over 30 minutes. One month later, EMA also approved a two-week nivolumab dosing option of 240 mg infused over 30 minutes to replace weight-based dosing for all the approved monotherapy indications in the EU. Robust late-stage oncology pipeline, increasing cases of lung cancer, high rate of smoking population, and increased spending on R&D for innovative drug development are expected to drive the market growth.” said Arpitha Shetty, Research Analyst, Infoholic Research.
Key insights of the report include:
- By Disease Type:
- Small cell lung cancer (SCLC)
- Non-small cell lung cancer (NSCLC)
- By Molecule Type:
- Small molecules
- By Regions:
- North America
- Asia Pacific
- Rest of the World
- Industry outlook: Market trends, drivers, restraints, and opportunities
Ms. Kathakali Basu
Infoholic Research LLP