How big is the market for lung cancer?

 

Lung Cancer Treatment Market Overview

The Lung Cancer Market is estimated to record a CAGR of 9.11% and is slated to reach USD 3,0570 million by the end of the forecast period by 2030. 

Market Dynamics

The rise in long-term cigarette smoking is to blame for the rise in lung cancer cases, which now account for nearly 85 percent of all cancer cases worldwide. The rise in environmental pollution is a serious issue that necessitates more policies to combat it. High levels of ozone, on the other hand, have been related to a higher rate of cancer detection in people who have been exposed to it for a longer period of time. The diagnosis of cancer cases has improved, making lung cancer therapies such as chemotherapy and surgery more accessible than before, improving the lung cancer care market share during the forecast period. Several insurance companies are expected to expand to provide cancer-related treatment and care over the forecast period, boosting the lung cancer therapeutics industry. The increased amount of research being directed at various cancer types, including lung cancer, is expected to open up new growth areas for the global market. The help of private foundations and organizations in terms of funding for lung cancer market research and patient care, as well as additional research into its treatment and diagnosis, is expected to boost the lung cancer market size during the forecast period.

Treatments for lung cancer and other cancers must be licensed by regulatory bodies with high standards and stringent testing procedures, which could limit market development. In the forecast period, the decreased life expectancy of patients undergoing lung cancer care due to the lack of lung organ transplants is expected to reduce growth potential.

Because of the COVID-19 pandemic, there have been a slew of significant delays in the process of identification, diagnosis, and treatment, which have been repeatedly found across all types of cancer in the United Kingdom. Pre-COVID, cancer was steadily identified as the leading cause of death worldwide, and lung cancer kills approximately 35 000 people per year, which is more than breast and bowel cancers combined. Experts expect an additional 1372 lung cancer deaths five years after the discovery of COVID-19 due to a significant rise in lung cancer's late-stage presence. COVID-19 is more acute in lung cancer patients because the determinants are more patient-specific, such as smoking status and chronic obstructive pulmonary disease (COPD), rather than tumor-specific characteristics or therapies.

Regional Overview

North America's lung cancer market outlook will be the highest, but its share will be declining. The supremacy of North America is due to its excellent healthcare system and rising per capita disposable incomes. The health-care systems in North American countries such as the United States (US) and Canada are integrated and well-structured. In addition, these programs promote research and development. These policies allow international companies to invest in the United States and Canada. As a result, these countries have a large number of global market participants. The market is expected to grow further as high demand is met by the presence of global players in the region.

The European regional market will be the global market's second most important market. Turkey, Denmark, Hungary, Belarus, Poland, Armenia, and Belgium are leading the European region in lung cancer detection.

Due to a large population base of smokers, the Asia Pacific region is expected to be the fastest maturing market for lung cancer therapeutics. Furthermore, due to increased awareness, some small players are emerging in Asia-Pacific. This has also aided the market's expansion. This enormous growth is anticipated as a result of the awareness about improved health care and the existence of unmet medical needs for cancer therapeutics in India and China, which are still untapped markets. Due to the rise in the number of smokers and people affected by lung cancer, the emerging economies of India and China would produce the majority of revenue in Asia Pacific. China, South Korea, Japan, and Kazakhstan's national markets are expected to be at the forefront of this growth. Furthermore, in 2016, the Australian national market had a market share of 10.3 percent.

Market segmentation

By Type, the NSCLC type segment is estimated to lead the type based segment in the forecast period.

By Treatment, the surgery and chemotherapy segments are estimated to control the treatment-based segment's majority stake in the forecast period.

By End-User, the hospitals & clinics segment is forecasted to control a massive share in the end- user segment through the forecast period.

Competitive Dynamics

The leading contenders in the Lung Cancer Market are Hoffmann-La Roche Ltd (Switzerland), Novartis AG (Switzerland), Pfizer (U.S.), Merck & Co., Inc. (U.S.), Bristol-Myers Squibb (U.S.), Eli Lilly and Company (U.S.), and Sanofi (France), among others.

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), & Consulting Services. MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients.

Contact us:

Market Research Future (part of Wantstats Research and Media Private Limited),

99 Hudson Street, 5Th Floor,

New York, New York 10013

United States of America

+1 628 258 0071

Email: sales@marketresearchfuture.com

Comments

Post a Comment

Popular posts from this blog

Respiratory Care Devices Market Manufacturer Landscape, Revenue, Volume Analysis and Segment Information up to 2030

  Respiratory Care Devices Market Highlights Respiratory care devices are used for treating, controlling, evaluating, managing, and diagnosing patients with an anomaly in the cardiopulmonary system. The respiratory disease is any of the diseases and disorders of the airways and the lungs that affect human breathing. Diseases of the respiratory system may disturb any of the structures and organs that have to do with breathing, which includes nasal cavities, the throat, the larynx, the trachea, the tissues of the lungs, and the respiratory muscles of the chest cage. The growing respiratory diseases are largely due to increasing patient population suffering from chronic diseases, which include chronic obstructive pulmonary disease (COPD), cystic fibrosis, pneumonia, and asthma. The initial detection of these diseases aids in providing better treatments. Thus, the demand for respiratory care devices market is increasing greatly in the global market. Additionally, the growing elder...
Read more

Medical Imaging Workstations Market Tendencies, Revenue Forecast and Interesting Opportunities from 2022 to 2030

  Medical Imaging Workstations Market Highlights The global medical imaging workstations market is projected to reach USD 6.22 Billion by 2030 at 6.9% CAGR during the forecast period 2022-2030. The medical imaging workstations has become a base technology of modern medical diagnostics for the treatment of variety of acute and chronic diseases including cardiovascular diseases and cancer. The usage of medical imaging workstations market has reduced manual workflow and increased the accuracy and precision of diagnosis tremendously in recent years. The factors influencing the growth of the market including growing government investment and funding’s for research in modernization of imaging services, favourable reimbursement policies and the on-going technological advancements in imaging systems to improve healthcare infrastructure is anticipated to boost the growth of the market over the forecast period. Additionally, increasing demand for diagnostic imaging devices and develo...
Read more

Population Health Management Market | Industry Analysis, Size, Growth, Key Players, Segmentation And Forecast By 2030

  Global Population Health Management Market - Overview The global  population health management market  is growing with the rapid pace; mainly due to the technological innovation. According to a recent study report published by the Market Research Future, the global population health management is booming and expected to gain prominence over the forecast period growing rapidly. The market is forecasted to demonstrate a spectacular growth by 2030, surpassing its previous growth records in terms of value with a striking CAGR during the anticipated period (2022 – 2030). Notably, extreme need to fill in the gap between expenditure and outcomes is the key factor driving the  eclinicalworks population health  management market. It is observed that in the year 2012 digital healthcare data was estimated to be around 500 petabytes and is expected to reach 25,000 petabytes by 2020. On the other hand there has been deterioration in clinical outcomes in spite of huge expen...
Read more