A research study, recently published by Transparency Market Research (TMR), estimates the global non-small cell lung cancer (NSCLC) therapeutics market to expand at a healthy CAGR of 12.10% over the period from 2015 to 2023 and reach a value of US$15.1 bn by the end of the forecast period.The report, titled “Non Small Cell Lung Cancer Therapeutics Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2015 – 2023,” states that the worldwide NSCLC market attained US$4.9 bn in 2014.
Of late, the demand for non-small cell lung cancer (NSCLC) therapeutics has witnessed a significant surge, globally. The robust rise in the number of patients suffering from NSCLC across the world is likely to strengthen this trend considerably in the near future. The market for NSCLC therapeutics presented a global opportunity worth US$4.9 bn in 2014. Analysts project it to rise at a CAGR of 12.10% during the period from 2015 to 2023 and attain a value of US$15.1 bn by the end of the forecast period.
In this research report, the global NSCLC therapeutics market has been studied with a microscopic view. It aims at presenting a detailed market assessment on the basis of its past as well as current performance. The latest trends and growth opportunities within this market have been examined in-depth to determine its future status in this study.
Non-Small Cell Lung Cancer Therapeutics Market: Trends and Opportunities
Being the most common type of lung cancer, NSCLC has a large pool of patients suffering from it. Hitherto, angiogenesis inhibitor has been the most successful therapy for NSCLC. The high demand for Avastin in the U.S. and in several European countries is likely to maintain the position of angiogenesis inhibitor as the key treatment for NSCLC in the years to come.
Folate antimetabolites, EGFR inhibitors, and microtubule stabilizers are also expected to gain momentum in the global market over the next few years. In addition, the approval of late-stage pipeline products, such as necitumumab and onartuzumab, are likely to create new revenue streams for drugmakers in the near future.
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Non-small Cell Lung Cancer Therapeutics Market: Geographical Analysis
On the basis of geography, the global market for NSCLC therapeutics has been segmented into Europe, Asia Pacific, North America, and the Rest of the World. Thanks to the presence of a state-of-art healthcare infrastructure, North America has emerged as the leading contributor to this market. With favorable insurance and reimbursement scenario, researchers expect this regional market to remain dominant in the forthcoming years.
On the other hand, Asia Pacific is anticipated to offer the most promising opportunities for growth in the near future. The increasing incidence of NSCLC, coupled with unmet medical needs, is likely to make way for the adoption of NSCLC therapeutics at a higher rate. The rise in government initiatives to increase awareness regarding NSCLC among consumers in this region is also projected to propel the Asia Pacific market for NSCLC therapeutics substantially over the next few years.
Companies Mentioned in the Research Report
Owing to the presence of a large pool of players, the global market for non-small cell lung cancer therapeutics demonstrates a highly competitive and fragmented landscape. Genentech Inc., GlaxoSmithKline PLC, Pfizer Inc., Astra Zeneca PLC, Celgene Corp., Eli Lilly & Co., Boehringer Ingelheim, Sun Pharmaceutical Industries Ltd., and Bristol-Myers Squibb are some of the key players in this market across the world.