Lung Cancer Treatment Market: Global analysis and forecast for the period 2024-2030

The global Lung Cancer Treatment Market size was valued at USD 17.65 billion in 2023 and is expected to grow at a CAGR of 14.21% from 2024 to 2030, reaching a market size of approximately US$ 44.17 billion by 2030.

The growing population suffering from lung cancer majorly led to the growth of Lung Cancer Treatment in 2023. Lung cancer is the second most commonly diagnosed cancer in people and also the most common cause of cancer death. According to the American Cancer Society, Cancer Facts & Figures, in 2023, an estimated 238,340 people (117,550 men and 120,790 women) were diagnosed with lung cancer, and 127,070 people died from the disease. Lung cancer is usually fatal majorly caused by heavy smoking and alcohol consumption. Weight loss, coughing, breath shortness, loss of appetite, chest pain, wheezing, etc. are the key indications for lung cancer.

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Lung Cancer Treatment is a most demanding market sector for growth due to increased patients and rising awareness. Lung Cancer Treatment is segmented based on cancer type, treatment type, and end use in the industry. The increase in competition and market saturation, lack of resources, high cost of treatment, etc. are some of the factors that restrain the growth of the market as well as the development of treatment technologies. Despite this, the Lung Cancer Treatment market witnessed the development of new treatment methods is a major driving factor for growth in 2023. Support of government regulation, collaboration initiatives, continuous increase in incidence cases of lung cancer, etc. are some of the drivers for the growth of the market. The North American region held the largest market share in 2023, driven by the increase in lung cancer incidence cases in the region, the growing aging population, and technological advancement.

The report provides a comprehensive analysis of the global Lung Cancer Treatment market, which includes the current market size, overall segmentation analysis (Cancer Lung Cancer Types, Treatment methods, End-users, and Regions), market trends, drivers, restraints, opportunities, scope, and key players.
Global Lung Cancer Treatment Market Dynamics:
The global Lung Cancer Treatment market is anticipated to grow significantly in the forecasted period owing to the increased population of lung cancer patients and advancements in novel therapies with technologies. The increase in deaths caused due to lung cancer is likely to propel the need and demand for lung cancer treatment, globally. Advancements in technologies such as in targeted therapies innovating different potential inhibitors example EGFR inhibitors, ALK inhibitors, etc. offer lucrative opportunities to market players.

Technological advancement has led to a rise in the Lung Cancer Treatment

The Lung Cancer Treatment Market is a very dynamic and challenging market that has seen a sharp increase due to technological advancement in the healthcare industry. Market growth is rising with the implementation of new treatment methods and processes. Government regulations have facilitated faster approval and adoption of new and advanced therapies for lung cancer. Regulatory agencies like the FDA (Food and Drug Administration) in the U.S. and EMA (European Medicines Agency) in Europe have implemented the standard process and framework for promising cancer drugs, accelerating the availability of drugs to patients. For example, the approval of drugs like pembrolizumab and nivolumab represents a significant milestone that expanded treatment options for patients.

Impact of Restraint on the Global Lung Cancer Treatment Market

As per the estimation, Lung Cancer Treatment is rising significantly during the forecasted years but also faces challenges and restraints that affect the growth of the market. Regulatory challenges pose a significant restraint for the Lung Cancer Treatment market. Delays in approvals and stringent criteria affect the introduction of innovative therapies or treatments into the market. Even the high cost of treatment of lung cancer especially for novel therapies and targeted drugs limits the accessibility for patients. The financial barrier always acts as a restraint for market growth, particularly in rural areas.

Side effects and safety concerns of new treatments are another restraining factor for the Lung Cancer Treatment market. Lungs being the most vital organs need more accuracy to get diagnosed, where the complexity arises. The combination of therapies makes it more difficult and more complex for professionals to treat patients. The insurance companies do not ensure the new treatment method as this is not widely used in many of the developing countries where only Chemotherapy is used.

Competition, market saturation, economic downturns, trade disputes, geopolitical tensions, and patient awareness and education are also some of the restraints that affect the Lung Cancer Treatment market. Also, the well-aware and established treatment paradigms and practices in lung cancer care create resistance to adopting new therapies of treatment. The professional as well as patients prefer the traditional methods due to familiar and established efficacy, this limits the market for new innovative treatments.

Potential growth opportunity for the Lung Cancer Treatment Market

With the increase in demand for more advancement and growing technology, the Lung Cancer Treatment Market has opportunities to grow significantly during the forecast period. The advancement in targeted therapies and immunotherapies with high efficacy that specifically target the genetic mutations revolutionized lung cancer treatment, the continued research and development offer substantial growth potential in increasing the demand or patient outcomes. Growing awareness for Lung Cancer Treatment has been raised in regions all over the world, which is due to the number of health campaigns, improving healthcare infrastructures, and online information available. The integration of digital health technologies such as telemedicine, digital pathology, and remote patient monitoring enhances healthcare facilities in rural areas and increases patient outcomes.

The increased shift towards personalized medicine, driven by genomic profiling and biomarker testing allows to modify the treatment strategies based on individual patients’ characteristics. Collaborative research initiative also creates an opportunity in the Lung Cancer Treatment market. Collaboration between academia, industry, and government agencies facilitates research and development in treatments and also helps to accelerate innovations and regulatory practices. With rising cases of lung cancer globally, particularly in emerging markets, there is a growing need for accessibility and affordability for lung cancer treatments. This presents a major opportunity for market expansion and penetration in the region with limited access to advanced therapies. The Lung Cancer Treatment market is estimated to grow in the forecast period of 2030.

Challenges in overcoming the possible hurdles of Lung Cancer Treatment

The Lung Cancer Treatment market is expected to rise significantly, but several challenges affect the growth. Late diagnosis of cancer is one of the challenges that leads to failure of treatment and causes death of the patient. Despite advancements, in treatment options for certain types of cancer, the delay in detection and screening affects the treatment outcomes. Cost and access to new treatments, particularly targeted therapies and immunotherapies is also a challenge for the market. Lung cancer cells can develop resistance to treatments such as chemotherapy, targeted therapy, and immunotherapy over time, and the lack of efficacy of treatment affects the patients’ outcomes. Lung Cancer Treatment is complex and involves a combination of different therapies which makes it difficult for patients and healthcare professionals to manage the treatment and can cause sometimes death.
Lung Cancer Treatment Market Trends
Combination therapy in oncology treatment is the current trend and increasing day by day in the Lung Cancer Treatment market. Combinations of different treatments (e.g. chemotherapy with immunotherapy, or targeted therapy with radiation) are being explored to improve the efficacy and reduce resistance. The approach of combination therapy has shown promising results in clinical trials and is expected to be widely used in upcoming years. A combination of chemotherapy (Cisplatin) with immunotherapy (Pembrolizumab) is effective for the treatment of non-small cell lung cancer.
Lung Cancer Treatment Market Segments Analysis
By Cancer Type, the Lung Cancer Treatment Market is segmented as non-small cell lung cancer and small cell lung cancer. The non-small cell lung cancer segment held the largest market share at xx% in 2023. The availability and effectiveness of treatment for non-small cell lung cancer (NSCLC) drives the Lung Cancer Treatment market. Targeted therapies are more popular as the drugs are meant to target specific genetic alterations, which are more effective and less toxic compared to traditional chemotherapy. Targeted therapies use drugs such as Osimertinib and Crizotinib for the treatment of non-small cell lung cancer (NSCLC). Small cell lung cancer (SCLC) is a less common type of cancer that accounts small market share. In comparison between NSCLC and SCLC, SCLC is a very dangerous type of cancer that also spreads to other parts of the body. Chemotherapy and radiation therapy are the common methods to treat the SCLC. As the advancement in therapeutic technologies increased more effective and low-resistant therapies are innovated for diagnosis and treatment of small cell lung cancer (SCLC).



By Treatment type, the Lung Cancer Treatment Market is segmented into five different types of lung cancer treatment, these are targeted therapy, immunotherapy, chemotherapy, radiation therapy, and surgery. Targeted therapy held the largest lung cancer market share contributing xx% of the revenue share. Targeted therapy has been increasingly improving technology and efficacy of the treatment owing to the surge in demand and leading the market. The popularity of targeted therapy is because the therapy specifically focuses on the cancer cells and molecules to be targeted which is more effective and less toxic than other lung cancer treatments. Immunotherapy is a new type of treatment that has gained more demand and popularity in recent years which led to the significant growth of the immunotherapy segment in the market.

By End users, the Lung Cancer Treatment market is segmented as hospitals, Cancer & radiation therapy, and other end users. The Hospital end user segment held the largest market share in 2023 and is expected to grow in the forecast period by 2030. The development and innovation in cancer treatments led surge in demand for cancer care services in hospitals. Hospitals provide access to advanced treatment technology such as diagnostic tools, genetic testing, and specialists for surgery, radiation therapy, chemotherapy, and immunotherapy this increases patient outcomes and drives the growth of the hospital segment in the market.
Lung Cancer Treatment Market Regional Analysis
North America held the largest Lung Cancer Treatment Market holding xx% of the market share in 2023. North America's Lung Cancer Treatment market is driven by several factors such as the increase in lung cancer incidence casein the region, the growing aging population, the increase in technological advancement for lung cancer treatment, and reimbursement policies for lung cancer treatment.
As per the latest report of American Cancer Society lung cancer is the second most common cancer in the U.S. The government of North America is focusing on investing more in cancer research and treatment to provide effective treatment to patients. Also, government regulation has started the implementation of several policies for the Lung Cancer Treatment market. These policies are designed in such a way that every person can have access to healthcare, reducing the cost of treatment. The rising awareness of Lung Cancer Treatment in this region has gained demand in recent years.



Europe- the European region is the second largest dominating region for Lung Cancer Treatment Market. Growth in this region is driven by the increasing number of lung cancer patients. The key leading companies contribute a significant share of the region due to the increased number of cancer patients. Europe being the growing region has increased its facilities for more advanced healthcare systems and healthcare infrastructure. The leading companies are increasing investment plans for the development of more advanced treatment processes and spending more on research and development. The use of more advanced technology employing Artificial Intelligence has increased efficiency and effectiveness. The major countries of Europe such as Germany and, the United Kingdom holds the largest number of patients. Government regulations in this region focus on research and development and simultaneously provide funding. This research and development have led to the early detection of cancer and thus providing diagnosis. The European Commission has started an initiative named as European Cancer Information System (ECIS) for the coordination of treatment process.

Competitive Landscape

The report has given the details of companies in Lung Cancer Treatment Market and their key development in the sector. Astra Zeneca is a British-Swedish multinational company that is one of the world’s largest companies. AstraZeneca products are used in the treatment of a wide range of diseases, including cancer, heart disease, diabetes, and asthma. This is a research-driven company that invests more money heavily in the research and development of new medicines, new drugs, and new treatment methods. The Bristol Myers Squib Company is heavily investing in technological development for the use of artificial intelligence, computing biology, and digital health technologies for the betterment and improve the overall efficiency of the treatment and to personalize the treatment for patients. Pfizer Company is a leading company for its innovation, technological development, and research and development. This company is introducing genetic editing for the treatment of genetically passed diseases.

For Instance,

1. In May 2023, Novartis agreed to acquire Mariana Oncology, a Watertown-based preclinical-stage biotechnology company. The acquisition focuses on developing novel radioligand therapies (RLTS) to treat cancers with high unmet patient needs.

2. In Aug 2023, Bristol Myers Squibb acquired Mirati to bring KRAZATI®, a Best-in-Class KRASG12C inhibitor approved by the U.S. FDA for the Treatment of Patients with Advanced Non-Small Cell Lung Cancer.

3. In Jan 2023, Merk & Co., Inc., announced that the U.S based regulatory agency FDA (Food and Drug Administration) has approved Merk’s anti-PD-1 Therapy named KEYTRUDA, as a single agent for adjuvant treatment following surgical resection and platinum-based chemotherapy for adult patients with stage IB, II, or IIIA Non-small cell lung cancer (NSCLC).
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Global Lung Cancer Treatment Market


Report Coverage
Details


Base Year:
2023
Forecast Period:
2024-2030


Historical Data:
2018 to 2023
Market Size in 2023:
US $ 17.65 Bn.


Forecast Period 2024 to 2030 CAGR:
14.21%
Market Size in 2030:
US $ 44.17 Bn.


 Segments Covered:
Lung Cancer Type
NSCLC (Non-small cell lung cancer)
SCLC (Small cell lung cancer)


Treatment Type
Targeted Lung Cancer Type
Immunotherapy
Chemotherapy
Radiation therapy
Surgery


by End Users
Hospital
Cancer & Radiation therapy
Others



Lung Cancer Treatment Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Lung Cancer Treatment Market, Key Players are
1. Astra Zeneca (U.S)
2. Bristol-Myers Squibb Company
3. Eli Lilly and Company (U.S)
4. Novartis
5. Pfizer (U.S)
6. Takeda
7. Johnson & Johnson
8. AbbVie
9. Sun Pharmaceutical
10. Teva Pharmaceutical
11. Merch & Co. Inc
12. Others

Frequently Asked Questions:
1. Which region has the largest share in the Global Lung Cancer Treatment Market?
Ans: The North America region held the largest share in 2023.

2. What is the growth rate of the Global Lung Cancer Treatment Market?
Ans: The Global Market is expected to grow at a CAGR of 14.21 % during the forecast period 2024-2030.

3. Why are demand for Lung Cancer Treatment rising?
Ans: The demand for Lung Cancer Treatment is rising primarily due to several factors: increasing incidence of lung cancer globally, aging populations and high smoking prevalence, advancements in early detection technologies leading to more cases being diagnosed at treatable stages, and ongoing developments in targeted therapies and immunotherapies increase patient outcomes, driving greater demand for effective treatment options.

4. Who are the key players in the Global Lung Cancer Treatment Market?
Ans: The important key players in the Global Lung Cancer Treatment Market are. Astra Zeneca, Boehringer Ingelheim, Bristol-Myers Squibb Company, Eli Lilly and Company, Novartis, Pfizer, etc.

5. What is the scope of the Global Lung Cancer Treatment Market report?
Ans: The Global Lung Cancer Treatment Market report helps with the PESTLE, PORTER, Recommendations for Investors & Leaders, and market estimation of the forecast period.