Lung Cancer Drugs Market Forecast 2024-2033: Projected CAGR, Key Drivers, And Trends

Overview and Scope

Lung cancer drugs refer to anti-angiogenic drugs that are used to treat lung cancer. Lung cancer is a type of cancer that decreases the ability of the lungs to supply oxygen to the bloodstream because of the uncontrolled growth of tissues in the lung. Some of the possible treatments for lung cancer include surgery, chemotherapy, radiation therapy, and targeted therapy. Based on the size of the tumor cells, lung cancer is broadly divided into small cell lung cancer (SCLC) and non-small cell lung cancer (NSCLC).

Sizing and Forecast

The lung cancer drugs market size has grown rapidly in recent years. It will grow from $42.3 billion in 2023 to $47.72 billion in 2024 at a compound annual growth rate (CAGR) of 12.8%. The growth in the historic period can be attributed to epidemiology and demographics, regulatory approvals, healthcare infrastructure, patient awareness and education.

The lung cancer drugs market size is expected to see rapid growth in the next few years. It will grow to $74.81 billion in 2028 at a compound annual growth rate (CAGR) of 11.9%. The growth in the forecast period can be attributed to health insurance and reimbursement policies, healthcare infrastructure and access, emerging markets. Major trends in the forecast period include advancements in targeted therapies, immunotherapy, genomic profiling, clinical trials and research, .

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Segmentation & Regional Insights

The lung cancer drugs market covered in this report is segmented –

1) By Drugs: Gemzar, Paraplatin, Taxotere, Navelbine, Avastin, Tarceva, Iressa, Other Drugs

2) By Disease Type: Small cell lung cancer (SCLC), Non-small cell lung cancer (NSCLC)

3) By End User: Hospitals, Clinics, Other End-Users

North America was the largest region in the lung cancer drugs market in 2023. Middle East is expected to be the fastest-growing region in the lung cancer drugs market during the forecast period. The regions covered in the lung cancer drugs market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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Major Driver Impacting Market Growth

The rising prevalence rate of lung cancer is a major driver for the lung cancer drugs market. This is mainly because an increase in the prevalence and incidence rate of lung cancer cases propels the need for drugs that enable efficient and fast treatment of the disease. It also drives the industry to maintain a strong pipeline of drugs. For instance, in January 2023, according to the American Cancer Society, a US-based voluntary health organization dedicated to eliminating cancer, about 238,340 new cases of lung cancer (117,550 in men and 120,790 in women) and about 127,070 deaths from lung cancer (67,160 in men and 59,910 in women) were estimated in 2023. Therefore, the rising prevalence rate of lung cancer is driving the growth of the lung cancer drugs market.

Key Industry Players

Major companies operating in the lung cancer drugs market include Bristol-Myers Squibb Company, Merck & Co. Inc., F. Hoffmann-La Roche Ltd., Novartis AG, Pfizer Inc., GlaxoSmithKline plc, Sanofi S.A., Sun Pharmaceutical Industries Ltd., Celgene Corporation, Mylan N.V., Ono Pharmaceutical Co. Ltd., Teva Pharmaceutical Industries Ltd., Takeda Pharmaceutical Company Limited, Ziopharm Oncology Inc., Menarini Group, AstraZeneca PLC, Shanghai Jinhe Bio-Technology Co. Ltd., Nlyte Software, AbbVie Inc., Bayer AG, Boehringer Ingelheim International GmbH, Daiichi Sankyo Company Limited, Eli Lilly and Company Inc., Johnson & Johnson, Amgen Inc., Array BioPharma Inc., Astellas Pharma Inc., Biogen Inc., Clovis Oncology Inc., Eisai Co. Ltd., Exelixis Inc., Genentech Inc., Gilead Sciences Inc., Incyte Corporation, Ipsen Biopharmaceuticals Inc., Jazz Pharmaceuticals plc, Karyopharm Therapeutics Inc., Kyowa Kirin Co. Ltd., Loxo Oncology Inc., MedImmune LLC

The lung cancer drugs market report table of contents includes: