The global non-small cell lung cancer therapeutics market is growing impressively due to recent surge in adoption of targeted therapy for treating non-small cell lung cancer. According to a report published by Fortune Business Insights, titled ‘Non-Small Cell Lung Cancer Therapeutics Market: Global Market Analysis, Insights and Forecasts, 2019-2026,’ the market value will rise substantially from US$ 16,011.7 Mn in 2018 to US$ 43,713.1 Mn by 2026. Fortune Business Insights has further predicted the market to exhibit an impressive CAGR of 13.4% between 2019 and 2026 due to exceptional advancements in targeted therapy in recent years. Such high growth can be attributable to the increasing demand for chemotherapy and targeted therapy. Furthermore, advantages of targeted therapy over other alternatives are in plenty. Driven by this, the demand for targeted therapy for diagnosis will increase, which in turn spurs growth in the global non-small cell lung cancer therapeutics market.
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Lung cancers account for majority of the cancer-related deaths, worldwide. Furthermore, non-small cell lung cancer account for more than 80% of the total cancer cases. Such high mortality rates have created an awareness among people, subsequently increasing demand for detection of lung cancer at an early stage. With growing demand for early disease detection, companies are increasingly investing towards developing efficient diagnosis methods and tools.
Incorporation of Biological Therapies in Non-Small Cell Lung Cancer Therapeutics to Enable Growth
In recent years, the demand for efficient diagnosis method to treat non-small lung cancer is rising at a fast pace. Clinical studies indicated that biological therapies have massively reduced mortality rate of those affected with non-small cell lung cancer. The development of novel biological therapies has been hugely beneficial in treating non-small cell lung cancer (NSCLC). Biological therapies have had a positive impact on the molecular subsets of various lung cancer categories. NSCLC treatments have been blessed with various advancements in biological therapy concepts and they are now playing a major part in minimizing symptoms of non-small cell lung cancer as well. Thus, the use of biological therapies had a positive impact on the global NSCLC therapeutics market and is likely to favour growth of this market in the forecast period.
Adenocarcinoma to Emerge as The Leading Segment
According to cancer.org, adenocarcinoma accounted for 40% of all lung cancers. Although prevalence of adenocarcinoma is high, it is the least deadly among all types of lung cancers. Adenocarcinoma allows for easy NSCLC prognosis as it can be detected at a very early stage. Furthermore, adenocarcinoma can be treated easily as they spread at a slower rate than other NSCLCs. High chances of diagnosis of adenocarcinoma is a major factor why adenocarcinoma will emerge as the leading segment in the forecast period, as well.
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The report also offers key insights related to an overview of the Non-Small Cell LungCancer Therapeutics Market (2018) – for North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa, prevalence of non-small cell lung cancer by type, regulatory scenario by key regions, key industry developments, pipeline analysis and overview of current advances in R&D for non-small cell lung cancer therapeutics.
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