Lung Cancer Therapeutics Market

The global Lung Cancer Therapeutics Market is valued at USD 29.1 Billion in 2023 and is projected to reach a value of USD 63.7 Billion by 2032 at a CAGR (Compound Annual Growth Rate) of 9.1 % between 2024 and 2032.

Key Findings:

• The market is seeing significant advancements in treatment options, including developing new, expensive medications and sophisticated radiation therapies.
• North America emerged as the dominant Lung Cancer Therapeutics market in 2023, with a market share exceeding 39.1%.
• The Asia Pacific region is poised for substantial growth from 2024 through 2032, underscoring its significance as a key market driver.
• By Lung Cancer Type, the Non-small Cell Lung Cancer segment captures the highest market share of 81.1% in 2023
• Based on the Therapy, the Targeted Therapy category accounted for about 53.1% of the market share in 2023

Regional Overview

The North America market exhibited dominance in 2023, capturing 39.1% of the revenue share

The rising prevalence of lung cancer and the growing adoption of advanced diagnostic tools and therapeutics have driven demand for lung cancer treatments in North America. The region is home to several top biopharmaceutical companies, which benefit from their contributions to market growth. Increased health insurance penetration has improved access to expensive treatments, supported by a robust healthcare infrastructure. The US FDA's proactive approval of advanced therapies further boosts market expansion. With a significant elderly population and high smoking-related lung cancer rates, the demand for therapeutics is substantial. In April 2022, AstraZeneca and Daiichi Sankyo's Enhertu received FDA approval for treating metastatic non-small cell lung cancer, highlighting the region's leading role in therapeutic advancements.

Why is Asia Pacific projected to have the highest CAGR in the overall market?

During the forecast period, Asia Pacific is projected to record highest CAGR in the overall market. The rising prevalence of smoking and second-hand smoke exposure is increasing lung cancer rates. Government investments in advanced healthcare facilities and increased healthcare insurance penetration have improved access to care. Additionally, major biopharmaceutical companies are investing in the region to expand manufacturing and produce advanced drugs at lower costs. Expanding economies drive the market's growth, a growing number of lung cancer patients, and rising public awareness. China holds the largest market share, while India is the fastest-growing market in the region.

Therapy Overview

In 2023, the global market saw significant growth, particularly in the targeted therapy segment, which held a dominant 53.1% share. The Therapy segment is separated into Radiation Therapy, Targeted Therapy, Immunotherapy, Chemotherapy, Others.Targeted therapy has become increasingly popular among lung cancer patients due to its ability to treat cancer cells without harming normal cells, resulting in fewer side effects and reduced risk of recurrence and mortality. The rapid expansion of the biopharmaceutical industry and increased R&D spending have led to advanced targeted therapeutics for lung cancer. Additionally, higher healthcare expenditures and growing awareness of advanced gene therapies that can address traditionally incurable diseases have driven the growth of targeted therapy worldwide. Immunotherapy, which leverages the immune system to combat cancer cells, is expected to be the most promising segment in the coming years.

End-use Overview

In 2023, the overall market witnessed significant growth, with Non-small Cell Lung Cancer category dominating at a remarkable 81.1% share. The Applications segment is categorized into Small Cell Lung Cancer, Non-small Cell Lung Cancer, and Lung Carcinoid Tumour. Non-small cell lung cancer (NSCLC) includes types like squamous cell carcinoma and adenocarcinoma and is more common than small cell lung cancer (SCLC). According to the Cancer Treatment Centres of America, lung adenocarcinoma makes up 40% of NSCLC cases, while squamous cell lung cancer accounts for 30%, often linked to smoking. Large-cell undifferentiated carcinoma represents 10% to 15% of NSCLC cases. NSCLC constitutes about 80% to 85% of all lung cancers. This high prevalence is driving demand for cancer therapeutics. Meanwhile, SCLC is increasing due to rising smoking rates and increased awareness and availability of advanced treatments.

Key Trends

Rising Incidence and High Mortality Rates

Lung cancer is one of the most commonly diagnosed cancers and has the highest mortality rate among all cancers. In 2023, 238,340 people in the U.S. will be diagnosed with lung cancer, with approximately 127,070 lives lost annually. The increasing incidence, mainly driven by smoking, is leading to a growing demand for Lung Cancer Therapeutics.

Advancements in Treatment Options

The market is seeing significant advancements in treatment options, including developing new, expensive medications and sophisticated radiation therapies. Pharmaceutical companies also focus on targeted medication regimens and immunotherapy combined with chemotherapy, which has proven effective in improving patient outcomes.

Government and Market Investments

Governments are investing more in healthcare infrastructure to provide high-quality treatment options, expected to drive market growth. Increased disposable income, ongoing research and development, and the introduction of the latest radiation therapy technologies are also contributing to the market’s expansion, especially in developing and underdeveloped regions.

How are strategic alliances and collaborations influencing the development of new treatments?

An increase in strategic alliances and collaborations among pharmaceutical companies characterizes the market. These partnerships aim to co-develop and co-commercialize new drugs and therapies, such as the collaboration between GlaxoSmithKline Plc. and Merck & Co. Inc. for a bifunctional fusion protein immunotherapy. These alliances are expected to lead to the launch of more advanced treatments and drive market growth.

What Is the Global Scenario of Lung Cancer Cases?

Smoking is the top risk factor for lung cancer, responsible for 80% of deaths. Even nonsmokers make up 20% of lung cancer fatalities. In 2022, the IARC reported 20 million new cancer cases and 9.7 million deaths globally, with lung and breast cancers being the most common. High and low HDI countries show disparities in cancer burden and mortality. Lung cancer leads to cancer deaths worldwide, with an estimated 238,340 diagnoses in the U.S. in 2023. It affects 1 in 16 men and 1 in 17 women, causing Approximately 127,070 American deaths annually. Globally, lung cancer accounts for 12.4% of new cases and 18.7% of cancer deaths. Early diagnosis is challenging as it’s often detected at advanced stages, but screening high-risk individuals and primary prevention measures, like tobacco control, can improve survival rates. The incidence of lung cancer is declining, with mortality rates dropping faster due to advances in treatment and early detection.

Current Development Stage Of The Lungvax Vaccine:

Researchers from the University of Oxford, the Francis Crick Institute, and University College London have secured £1.7 million in funding from Cancer Research UK and the CRIS Cancer Foundation to develop a groundbreaking lung cancer vaccine named ‘LungVax.’ Inspired by the successful Oxford/AstraZeneca COVID-19 vaccine, LungVax targets specific proteins, called neoantigens, found on abnormal lung cells caused by cancerous mutations. The vaccine trains the immune system to recognize and destroy these cells by delivering a DNA strand, potentially halting lung cancer progression. Currently undergoing laboratory development, the vaccine aims to demonstrate its ability to stimulate immune responses. Success here will propel it into clinical trials, with plans for larger-scale trials focusing on high-risk groups like current and former smokers aged 55-74. This initiative responds to a pressing need, as smoking contributes to 72% of lung cancer cases, underscoring the vaccine’s potential impact on global cancer prevention efforts.

Premium Insights

Lung cancer stands as the most prevalent cancer globally, topping the list for men and ranking second among women. Patients undergoing treatment are particularly vulnerable to SARS-CoV-2 due to immunosuppressive therapies. Amid the pandemic, treating these patients posed ongoing challenges, prompting collaborative efforts by leading organizations like the European Society for Radiotherapy and Oncology and the American Society for Radiation Oncology. They issued guidelines from early to later pandemic scenarios, balancing patient care with risk mitigation. These initiatives bolstered demand for lung cancer treatments, stabilizing market growth post-lockdown and projecting significant expansion. Factors fueling this growth include rising cancer prevalence, escalating pollution levels, and persistent smoking rates. Moreover, strategic moves such as acquisitions and FDA approvals of new therapies like RYBREVANTTM by Janssen Pharmaceutical further stimulate market dynamics, ensuring continued advancement in the sector.

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Market Dynamics

Increasing prevalence of lung cancer, rise in smoking, and demand for targeted therapies

The incidence of lung cancer is rapidly increasing due to the rising prevalence of smoking and exposure to secondhand smoke. Unhealthy lifestyles, such as smoking, act as major factors driving the market's growth. Additionally, the demand for targeted therapies, including chemotherapy, immunotherapy, surgery, and radiation therapy, to treat lung cancer accelerates market growth. The presence of highly efficient drugs, such as Avastin, Gemzar, Taxotere, and Tarceva, further influences the market.

High cost of therapies, side effects of treatments, and limited access in low-income regions

Despite its growth prospects, the market faces several challenges. The high cost of cancer therapies can be a significant barrier for many patients, especially in low- and middle-income countries (LMICs). Side effects associated with treatments like chemotherapy, including nausea, hair loss, and fatigue, also pose challenges. Additionally, there is a significant disparity in access to cancer treatments, with only about 30% of cancer patients in low-income nations having access to therapy compared to 90% in high-income countries. This limited access hinders market expansion in these regions.

Advances in nanotechnology, increased approvals of new drugs, and growth in emerging markets

The Lung Cancer Therapeutics market offers numerous growth opportunities. Advances in nanotechnology-based inhalation chemotherapy show promise in being more effective with fewer side effects compared to conventional chemotherapy. The development and approval of new cancer therapies over the past decade have led to significant improvements in treatment options, contributing to what is referred to as the golden age of oncology. The US FDA has approved more than 95 drugs for lung cancer, including immunotherapies, targeted drugs, and chemotherapies. Emerging markets present untapped potential, with increasing investments in healthcare infrastructure and focusing on reducing the burden of lung cancer, creating a conducive environment for market growth.

What Are the Latest Developments in Lung Cancer Treatment Research and Approvals?

The Lung Cancer Therapeutics market is moderately concentrated and fragmented, with global and regional companies operating. Top players actively pursue strategies like mergers, joint ventures, acquisitions, business expansion, partnerships, collaborations, and new product launches to enhance their market position and share. A key strategy in this industry is local manufacturing to reduce operating costs, benefit clients, and expand the market. Recent advancements in lung cancer treatments have brought significant medical benefits, underscoring the industry's importance. The competitive landscape is dynamic, with companies continuously innovating and adapting to maintain and grow their presence in the market.

Recent Market Developments

Recent Collaboration in the Market by iTeos Therapeutics, Inc. and GSK

In June 2024, iTeos Therapeutics, Inc. and its development partner GSK started the initial global Phase 3 registration trial of belrestotug + dostarlimab doublet compared to placebo + pembrolizumab in individuals with previously untreated, unresectable, locally advanced or metastatic PD-L1 selected non-small cell lung cancer (NSCLC). The research focuses on being the first to uncover and create new immuno-oncology treatments for patients.

Recent Innovations

In May 2024, Amgen reported that the U.S. Food and Drug Administration (FDA) granted approval for IMDELLTRA™ (tarlatamab-dlle) to treat adult patients with extensive-stage small cell lung cancer (ES-SCLC) that has progressed after platinum-based chemotherapy. The accelerated approval of IMDELLTRA is based on the positive response rate and duration of response (DoR) observed in clinical studies. Further approval for this use may be subject to confirmation of clinical benefit in future trial(s).

In April 2024, the Food and Drug Administration approved Alectinib (Alecensa, Genentech, Inc.) for use in adjuvant treatment after tumour resection in individuals with anaplastic lymphoma kinase (ALK)-positive non-small cell lung cancer (NSCLC), as determined by an FDA-approved test.

Recent Collaboration

In April 2024, US-based biopharmaceutical company Lantern Pharma received regulatory approval to expand its Phase II Harmonic clinical trial of an investigational new drug, LP-300, for treating non-small cell lung cancer (NSCLC). The multicentre, open-label trial aims to assess the impact of LP-300 when combined with the standard-of-care chemotherapy regimen of pemetrexed and carboplatin.

The global Lung Cancer Therapeutics market can be categorized as Test Type, End-use and Region.