SAN FRANCISCO, April 3, 2017 /PRNewswire/ --
The global non-small cell lung cancer therapeutics market is expected to reach a value of USD 12.2 billion by 2025, based on a new report by Grand View Research, Inc. The non-small cell cancer therapeutics (NSCLC) market is anticipated to witness significant growth during the forecast period. This can be attributed to the high investment by market players in the research and development of lung cancer therapy, presence of a rich pipeline, and increasing penetration of drugs during the forecast period.
Introduction of several drugs in various geographical regions is likely to drive the market during the forecast period. For instance, in October 2016, the FDA granted Breakthrough Therapy Designation to Alecensa (alectinib), a drug developed by Genentech to treat ALK-positive NSCLC as a first-line treatment. The drug has been approved in the U.S., Japan, Canada, Hong Kong, South Korea, Kuwait, and Israel.
Presence of a strong pipeline of drugs for non-small cell lung cancer helps propel the market during the forecast period. Bristol-Myers Squibb Company, Orion Corporation, Merck KGaA, AstraZeneca, F. Hoffmann-La Roche Ltd, and Pfizer, Inc. have major molecules in the pipeline.
Browse full research report with TOC on "Non-small Cell Lung Cancer (NSCLC) Therapeutics Market Analysis By Drug (Alimta, Iressa, Avastin, Tarceva, Zykadia, Tagrisso, Xalkori, Cyramza, Opdivo, Alecensa), By Region (North America, Europe, Asia Pacific, Latin America, MEA), And Segment Forecasts, 2014 - 2025" at: http://www.grandviewresearch.com/industry-analysis/non-small-cell-lung-cancer-nsclc-therapeutics-market
Further key findings from the report suggest:
- By drug, Alimta accounted for the highest share in 2015. However, it is expected to witness decline in its share during the forecast period.
- Alecensa (alectinib) is expected to grow at the highest rate during the forecast period. This is majorly attributed to the clinical benefit of the drug to treat ALK-positive NSCLC.
- Alecensa is expected to be a competitor to Pfizer's Xalkori and Merck's Keytruda during the forecast period. A superior progression-free survival rate of Alecensa was observed in the clinical trials as compared to Crizotinib.
- Geographically, North America dominated the overall industry in 2015. This is due to the early entry of drugs in the market, increased adoption of new treatment, and high cost of the drug.
- It is expected that North America would maintain its dominance during the forecast period and grow with the highest rate over the coming years due to expected entry of new drugs.
- Several players are operating in the industry. Geographical penetration and development of innovative & effective drugs are the key strategies of the players to increase their share.
- Some of the key players are GlaxoSmithKline (GSK) Plc., Novartis AG, AstraZeneca, F. Hoffmann-La Roche AG, Bristol-Myers Squibb, Pfizer Inc., Eli Lilly & Company, and Sanofi.
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Grand View Research has segmented the non-small cell lung cancer therapeutics market by drug and region:
- Non-small Cell Lung Cancer Therapeutics Market Drug Outlook (Market Revenue in USD Million, 2014 - 2025)
- Non-small Cell Lung Cancer Therapeutics Market Regional Outlook (Market Revenue in USD Million, 2014 - 2025)
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
- South Africa
- North America
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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SOURCE Grand View Research, Inc.