Lung Cancer Therapeutics Market to Reach USD 91.82 Billion by 2031, Growing at 13.2% CAGR | SkyQuest Technology

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Market Overview:

Global Lung Cancer Therapeutics Market size was valued at USD 30.08 billion in 2022 and is poised to grow from USD 34.05 billion in 2023 to USD 91.82 billion by 2031, growing at a CAGR of 13.2% in the forecast period (2024-2031). The Lung Cancer Therapeutics Market is poised for considerable growth, propelled by several key drivers, such as rising cases of neurological disorders, continuous technological innovation, and an increasing need for minimally invasive procedures, are expected to take the Lung Cancer Therapeutics Market to considerable heights.

Other factors contributing to this can be attributed to the large and rapidly growing patient population suffering from such targeted diseases in key markets, resulting in a significant rise in demand for Veterinary Needles. One of the major factors acting as a potential catalyst to drive the market growth over the forecast period is a high prevalence of acute ischemic stroke.

Market Insights:

Lung Cancer Therapeutics Market Driver

  • The rise in chronic tobacco use is to blame for the rise in lung cancer cases, which now account for roughly 85% of all cancer cases worldwide. It is predicted that the number of cancer cases will increase in the near future due to cigarette smoke, which contains at least 73 known carcinogens.
  • Increased environmental pollution control measures are encouraged by the serious factor of the growth in environmental pollution. However, people who are exposed to high levels of pollution for a longer period of time are more likely to develop cancer.
  • The advancement in cancer case detection has made it simpler than ever to administer lung cancer treatments like chemotherapy and surgery, which will accelerate the growth of the market for these treatments over the course of the forecast period.
  • The industry for lung cancer therapeutics is expected to benefit from the expansion and inclusion of cancer-related treatment and care by a number of insurance providers during the expected period.

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Key Market Segments:
Cancer type

Non-Small Cell Lung Cancer, Metastatic Lung Cancer, Pulmonary Neuroendocrine Tumours, Mediastinal Tumours, Mesothelioma, Chest Wall Tumours

Molecule Type

Small Molecules, Biologics

Treatment Type

Chemotherapy, Radiation Therapy, Targeted Therapy, Immunotherapy, Others

End Use

Hospitals, Homecare, Speciality Clinics, Others

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Regional Insights:
The lung cancer treatments and diagnostics market was dominated by North America in 2021, accounting for 39.17% of global value. The large percentage of elderly people in the region, the presence of numerous international and local manufacturers, and investments made to diagnose cancer at an earlier stage are only a few of the reasons for the market’s expansion. However, throughout the predicted period of 2022–2028, Asia–Pacific is expected to have faster development. The region is making significant investments in radiology treatments and chemotherapies. China and Japan are prepared to raise their spending on cutting-edge immunotherapies.

Prominent Players in Lung Cancer Therapeutics Market:

  • AstraZeneca plc
  • Hoffmann-La Roche AG
  • Bristol-Myers Squibb Company
  • Merck & Co., Inc.
  • Pfizer Inc.
  • Novartis International AG
  • Eli Lilly and Company
  • Boehringer Ingelheim International GmbH
  • Takeda Pharmaceutical Company Limited
  • AbbVie Inc.
  • Sanofi S.A.
  • Astellas Pharma Inc.
  • Celgene Corporation
  • Eisai Co., Ltd.
  • Johnson & Johnson
  • Bayer AG
  • AbbVie Inc.
  • GlaxoSmithKline plc
  • Amgen Inc.
  • Spectrum Pharmaceuticals, Inc.

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Additional Insights:

Market Penetration: Analysis of the product portfolio of different market players and the status of new product launches.

Product Development/Innovation: Assessment of R&D activities, new product development, and emerging trends.

Market Development: Analysis of regions with high growth potential.

Market Diversification: Assessment of new products, recent developments, and emerging regional markets.

Competitive Landscape: Growth strategies, revenue analysis, and product innovations by market players.

Key Questions Answered in Lung Cancer Therapeutics Market Report:

What is the global market size of the Lung Cancer Therapeutics Market?

Who are the key vendors in the Lung Cancer Therapeutics Market?

What is the key driver of the Lung Cancer Therapeutics Market?

What is the key market trend for the Lung Cancer Therapeutics Market?

Which region accounted for the largest share in the Lung Cancer Therapeutics Market?

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