Lung Cancer Drugs Global Market Report 2023

NEW YORK, Feb. 21, 2023 /PRNewswire/ -- 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.

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The global lung cancer drugs market will grow from $32.67 billion in 2022 to $36.53 billion in 2023 at a compound annual growth rate (CAGR) of 11.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The lung cancer drugs market is expected to grow to $54.43 billion in 2027 at a CAGR of 10.5%.

The lung cancer drugs market consists of sales of bevacizumab, atezolizumab, and ramucirumab.Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.

The value of goods in this market includes related services sold by the creators of the goods.

Lung cancer drugs refer to anti-angiogenic drugs that are used to treat lung cancer.Lung cancer is a type of cancer that decreases the ability of the lungs to supply oxygen to the bloodstream because of the uncontrolled growth of tissues in the lung.

Some of the possible treatments for lung cancer include surgery, chemotherapy, radiation therapy, and targeted therapy. Based on the size of the tumor cells, lung cancer is broadly divided into small cell lung cancer (SCLC) and non-small cell lung cancer (NSCLC).

North America is the largest region in the lung cancer drugs market in 2022.Middle East is expected to be the fastest growing region in the forecast period.

The regions covered in the lung cancer market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The main types of diseases in lung cancer drugs are small cell lung cancer (SCLC) and non-small cell lung cancer (NSCLC).Small cell lung cancer is a type of lung cancer that grows quickly in the lungs' tissues.

Small cell lung cancer has often expanded (metastasized) outside of the lungs by the time a person receives a diagnosis.This malignancy is also more likely to recur after therapy than other types of lung cancer.

The different types of drugs include Gemzar, paraplatin, Taxotere, navelbine, avastin, Tarceva, Iressa, and others and are used in various sectors such as hospitals, clinics, and others.

The rising prevalence rate of lung cancer is a major driver for the lung cancer market.This is mainly because an increase in the 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).

The 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 biological drugs is much higher than that of conventional chemical drugs. For example, Cetuximab, Gefitinib, and Afatinib are lung cancer biologic drugs that specifically target only the muted form of tumours and do not destroy the normal body cells.

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.

The FDA's guidelines for lung cancer drugs are mentioned within the Code for Federal Regulations (CFR) title number 21 under part 312, which contains sub-parts from 'A' to 'I'.The sub-part 'E' deals with the procedures designed to push the development, evaluation, and marketing of drugs related to therapies aimed to treat persons with life-threatening illnesses such as lung cancer.

The subpart 'E' also includes guidelines for monitoring and evaluation of clinical trials of lung cancer drugs and other cancer drugs by agency officials to determine whether new treatments are safe and effective, or better than existing treatments.All drug manufacturers are required to abide by these regulations by the FDA.

Hence, regulations such as these would also keep a check on manufacturers of lung cancer drugs.

The countries covered in the lung cancer drugs market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).

The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.

The lung cancer drugs market research report is one of a series of new reports that provides lung cancer drugs market statistics, including lung cancer drugs industry global market size, regional shares, competitors with a lung cancer drugs market share, detailed lung cancer drugs market segments, market trends and opportunities, and any further data you may need to thrive in the lung cancer drugs industry. This lung cancer drugs market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

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