Reports And Data
Market Size – USD 7.41 Billion in 2021, Market Growth – at a CAGR of 6.8%, Market Trends – Rising prevalence of lung cancer
NEW YORK, NY, UNITED STATES, May 6, 2022 /EINPresswire.com/ — The global Non-Small Cell Lung Cancer (NSCLC) market size is expected to reach USD 13.51 Billion in 2030 and register a revenue CAGR of 6.8% over the forecast period, according to latest report by Reports and Data. Excessive consumption of tobacco, increase in active and passive smokers, and exposure to high levels of pollution are key factors propelling market revenue growth of NSCLC.
NSCLC accounts for a significant percentage of lung cancer cases across the world, and this high number has encouraged market players to focus on development of new therapies and improving efficacy of existing medicines for the disease. Lung cancer is one of the most common malignancies and results in a significant number of deaths globally. This has created a need to treat the disease and reduce mortality rate.
Expansion of NSCLC market is further aided by an increase in frequency of diagnosis of non-small cell lung cancer and increased awareness regarding the disease in developed and emerging countries. This, combined with increased investment in R&D by pharmaceutical companies and rapid adoption of new and better healthcare technologies is driving market revenue growth of NSCLC market. Moreover, increased adoption of immunotherapy in developing countries due to improved patient outcomes because of efficient treatment is expected to drive market revenue growth.
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Some Key Highlights from the Report
In February 2021, the U.S. Food and Drug Administration (FDA) approved PD-1 inhibitor Libtayo for first-line treatment of patients with advanced NSCLC whose tumors have high PD-L1 expression (tumor proportion score ≥50%), as determined by FDA-approved test
Adenocarcinoma segment accounted for largest revenue share in 2021, as it is most common type of lung cancer and has a high rate of incidence globally. About 40% of all cases of lung cancers are diagnosed with Adenocarcinoma. It usually occurs when lung cells proliferate abnormally to form a tumorous growth. Lung adenocarcinoma is most common cell type in females (smokers or non-smokers) and in non-smoking males. Incidence has been increasing in younger cohorts of males and females and has become a major cause of concern.
Surgery segment revenue is expected to register a steady growth rate during the forecast period, as surgery performed at an early stage is the best time to cure NSCLC. Patients diagnosed with Stage 0 and Stage 1 NSCLC are provided surgical treatments such as segmentectomy and lobectomy which have proven success rates.
Angiogenesis inhibitor accounted for a significant market revenue share in 2021. Segment growth is attributed to increasing demand for highly effective and more targeted therapies in both established as well as emerging economies such as the U.S., India, Japan, and Europe among others.
Market in North America accounted for largest revenue share in 2021 due to increasing support from the U.S. Government for developing therapies and drugs to treat different types of cancer. Availability of state-of-the-art research facilities and access to advanced testing equipment helps with successful research, which is also contributing to market growth.
Market in Europe accounted for second-largest revenue share in 2021 due to increased R&D initiatives for development of advanced therapeutics. Moreover, presence of leading companies such as Novartis, AstraZeneca, Sanofi, and Roche are fueling growth of market.
Major companies in global market report include Eli Lilly and Company, Bristol-Myers Squibb Company, AstraZeneca, Pfizer Inc., Novartis AG, Boehringer Ingelheim International GmbH, F.Hoffmann-La Roche Ltd, Merck KGaA, Sanofi, and Astellas Pharma Inc.
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The report also offers detailed insights about market segmentation based on type, application and regional bifurcation:
Non-Small Cell Lung Cancer Market Segmentation:
Type Outlook (Revenue, USD Billion; 2019-2030)
Squamous cell carcinoma
Large cell carcinoma
Therapy Outlook (Revenue, USD Billion; 2019-2030)
Drug Class Outlook (Revenue, USD Billion; 2019-2030)
Epidermal Growth Factor Receptor Inhibitor
PD-1/ PD-L1 Inhibitor
Middle East & Africa
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About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients to make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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