Lung Cancer Market 2018; With CAGR Of 13.5% | Growing Prevalence of Risk Factors to Drive the Market Globally By 2023 –Says MRFR

Market Research Future
The Exhaustive Study for “Global Lung Cancer Market” of MarketResearchFuture.com comprises extensive primary research along with the detailed analysis by various industry experts, Top leaders and Geological Region. Lung Cancer market is expected to grow at a CAGR of 13.5%. The market is forecasted to demonstrate a spectacular growth in Healthcare Sector by 2023.

Market Synopsis of Global Lung Cancer Market:

Lung cancer lists as the second most deadly form of cancer with cure rates less than 1% for stage IV. Lung cancer has two forms, non-small-cell lung cancer (NSCLC) and small-cell lung cancer (SCLC) with SCLC being the more malignant of the two. The global lung cancer market is anticipated to reach a staggering USD 36.9 billion in 2023 from just USD 15.2 billion in 2016, registering an impressive double digit CAGR of 13.5% during the forecast period.

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Key Players for Global Lung Cancer Market:

Pfizer Inc, ELI Lilly and Company, Merck & Co., Inc., F. Hoffmann-La Roche AG, Novartis, Bristol-Myers Squibb, Sanofi and others.

Market Dynamics of Global Lung Cancer Market – Drivers

  • Rising prevalence of smoking is the critical driver of the lung cancer market. The World Health Organization (WHO) estimates that tobacco kills more than 7 million people each year resulting in more than 6 million deaths, with lung cancer accounting for the lion’s share of 37%.
  • Environmental pollution especially the rise of particulate matter and nitrogenous pollution is propelling the rise of lung cancer. Occupational hazards include growing use and pollution such as particulate asbestos pollution and chemical industries. For example the growing use of carcinogen chemicals such as carbon tetrachloride etc.
  • Rising cases of Helicobacter pylori, Human papillomavirus (HPV), Hepatitis virus, Epstein-Barr virus and other infections cause cancer. The World Health Organization (WHO) projects that these infections attributed to approximately 15% of cancers in 2012.
  • Improvements in early detection and growing awareness especially the development of non-invasive diagnostic techniques such as liquid biopsy are also driving the market.
  • Rising rates of the more malignant small cell lung cancer. Non-Small Cell Lung Cancer (NSCLC) is generally a slow growing and accounts for 80-85% of all lung cancer cases. However there has been a shift from NSCLC to SCLC in recent years which has propelled the lung cancer treatment market.
  • Excellent reimbursements, growing health insurance and the huge expenditure on healthcare especially of U.S. accounting to 16% of the GDP in 2016 is also an important driver

Restraints:

  • Poor efficiency, efficacy, cure rates and side effects of present treatment represents a significant boulder in the way of market growth. The cure rate for early detection of large cell cancer is about 55%. While the cure rate for stage 4 small cell cancer is a mere 1%.
  • High failure rates of lung transplant surgeries represent another serious concern. For most people the five year survival rate averages to 55%. The American Society of Clinical Oncology (ASCO) predicts the 5-year survival rate for stage I NSCLC to be approximately 47% falling drastically to 10% for stage III, with a mere 1%, 5-year survival rate for stage IV NSCLC.
  • Poor quality of life and life expectancy of patients undergoing lung cancer treatment
  • Scarcity of lung organ and long waiting lines with the average wait time for the availability of lungs for transplant being approximate one year.
  • Loss of patents of lung cancer drugs such as Alimta, Tarceva etc. coupled with strong drug development pipeline for lung cancer drugs will drive future growth. The new drug pipeline of Roche include atezolizumab and alectinib. Other new drugs in the pipeline include abemaciclib (Eli Lilly), afatinib (Gilotrif, Boehringer Ingelheim), emibetuzumab (Eli Lilly) etc.

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Segments for Global Lung Cancer Market:

Types – SCLC and NSCLC

Treatments – Surgery, Chemotherapy, Radiotherapy, Photodynamic therapy (PDT) and Laser therapy

End users – Hospitals & Clinics, Cancer Research Centers and Laboratories

Regional Analysis of Global Lung Cancer Market:

The global lung cancer market has been segmented by region comprises of North America, Europe, Asia Pacific and Middle East & Africa. North America leads the world owing to better healthcare, high income and excellent reimbursement. North America is followed by Europe and is expected to reach USD 8,536.3 million by the end of forecast period of 2023.

Asia Pacific is expected to be the fastest growth market and is expected to be led by China, India and South Korea. The Middle East and Africa market is expected demonstrate moderate growth and will be led by the gulf economies.

Major TOC of Lung Cancer Market Research Report – Global Forecast to 2023:

1 Report Prologue

2 Introduction

3 Research Methodology

4 Porters Five Forces

5 Market Dynamics

6 Global Lung Cancer Market By Types

7 Global Lung cancer Market By Treatments

8 Global Lung Cancer Market By End Users

9  Global Lung Cancer Market by Regions

10 Company Landscape

11 Company Profiles

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