Non-Small Cell Lung Cancer (NSCLC) Market to Reach $29.95 Billion by 2028, Fueled by Advances in Therapy and Diagnostics

DUBLIN, Feb. 21, 2024 /PRNewswire/ -- The "Non-Small Cell Lung Cancer (NSCLC) Global Market Report 2024" has been added to  ResearchAndMarkets.com's offering.

The latest research report on the Non-Small Cell Lung Cancer (NSCLC) market has been published, offering a comprehensive analysis of current trends, market size, and anticipated growth trajectories in this critical segment of the healthcare industry. As the prevalence of NSCLC continues to rise globally, the report provides invaluable insights into the factors driving market expansion, competitive developments, and the potential impact of evolving treatment modalities.

A key highlight from the report indicates the NSCLC market size, which stood at $18.02 billion in 2023, is projected to grow to an impressive $20.1 billion in 2024, marking an 11.6% CAGR. This significant growth is attributed to various factors, including the emergence of novel immunotherapies, advancements in genomic profiling, and increased emphasis on smoking cessation initiatives.

The future outlook for the NSCLC market remains robust, with projections estimating a reach of $29.95 billion by 2028 at a CAGR of 10.5%. Emerging combination therapies, the incorporation of artificial intelligence in treatment protocols, and the development of personalized vaccines are key contributors to this growth. Additionally, the integration of telemedicine and advances in diagnostic technologies such as liquid biopsies are anticipated to shape the market landscape.

The report further examines the role of increasing tobacco consumption and air pollution as significant drivers of NSCLC incidence. The urgent global health challenges posed by these factors are highlighted alongside their economic and societal impacts.

However, the market does face challenges, particularly in managing the side effects of immunotherapy treatments, which are becoming increasingly prevalent as a first-line treatment option for NSCLC. The report delves into the complexities of these therapies and the implications for market growth.

In terms of strategic actions by key market players, the focus on developing monotherapy treatments stands out. These therapies offer potential for a more focused and potentially efficacious approach to treatment, as exemplified by the approval of innovative drugs such as Tabrecta (capmatinib) by Novartis AG.

Geographically, North America accounted for the largest share of the NSCLC market in 2023, whilst the Asia-Pacific region is poised for the most rapid growth in the coming years. The market analysis covers a wide range of countries, offering detailed insights into each locality's dynamics and growth potential.

The report emphasizes the scope of the NSCLC market, including revenues from targeted therapies, radiation therapies, imaging tests, and related pharmaceuticals. Importantly, it clarifies that the market values represented are 'factory gate' values, providing a clear picture of the revenues generated by manufacturers and service providers.

This timely and significant report provides a strategic tool for stakeholders in the NSCLC market to understand the changing landscape and to plan accordingly for the opportunities and challenges ahead. The in-depth assessment is crucial for healthcare professionals, researchers, investors, and policymakers to make informed decisions in this ever-evolving market sector.

Key Markets Covered:

• By Type: Squamous Cell Carcinoma; Large Cell Carcinoma; Adenocarcinoma; Other Types
• By Therapy: Radiotherapy; Laser Therapy; Photodynamic Therapy (PDT); Other Therapies
• By Distribution Channel: Hospital Pharmacy; Online Pharmacy; Other Distribution Channels

Companies Profiled:

• Pfizer Inc.
• F. Hoffmann-La Roche AG
• Merck & Co. Inc.
• AbbVie Inc.
• Novartis AG
• Sanofi S.A.
• Bristol-Myers Squibb Company
• AstraZeneca plc
• GlaxoSmithKline Plc
• Takeda Pharmaceutical Company Limited
• Eli Lilly and Company
• Amgen Inc.
• Viatris Inc
• Teva Pharmaceutical Industries Ltd.
• Regeneron Pharmaceuticals Inc.
• Astellas Pharma Inc.
• UCB S.A.
• Sun Pharmaceutical Industries Ltd.
• Dr. Reddy's Laboratories Ltd.
• Aurobindo Pharma Limited
• Cipla Limited
• Ferring B.V.
• Hikma Pharmaceuticals plc
• Amneal Pharmaceuticals LLC
• Zydus Lifesciences Ltd.
• Lupin Limited
• Torrent Pharmaceuticals Ltd.
• Almirall S.A.
• Clovis Oncology
• Revolution Medicines

For more information about this report visit https://www.researchandmarkets.com/r/gx8h6z

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