Lung Cancer Market is Projected to grow with a CAGR of 13.5% by 2023

(IT-NEWSWIRE.COM, October 24, 2017 )
Global Lung Cancer Market Information, by Type (SCLC, NSCLC); by treatment (Surgery, Chemotherapy, Radiotherapy, Photodynamic therapy (PDT), Laser therapy); by end users (Hospitals & Clinics, Cancer Research Centers, Laboratories) - Forecast to 2023
Market Scenario:
Lung cancer is a malignant lung tumor characterized by uncontrolled cell growth in lung tissue with symptoms such as coughing, weight loss, fatigue and chest pain. The two types of lung cancers are small-cell lung cancer (SCLC) and non-small-cell lung cancer (NSCLC). The NSCLC type accounts for almost 80% of the cancers with NSCLC representing the remaining. The cure rates for the two types of lung cancers are different and the SCLC being the most malignant. The cure rates also depend on the stage of cancer detection with rates varying by 55% for first stage to just 1% for stage IV.
The global market of Lung Cancer is expected to reach USD 36929.8 million in 2023 from USD 15219.7 million in 2016 with a CAGR of 13.5% during the forecast period 2017-2023.
Market Highlights
Lung cancer is a malignant lung tumor characterized by uncontrolled cell growth in lung tissue with symptoms such as coughing, weight loss, fatigue and chest pain. The two types of lung cancers are small-cell lung carcinoma (SCLC) and non-small-cell lung carcinoma (NSCLC). The NSCLC type accounts for almost 80% of the cancers with NSCLC representing the remaining. The cure rates for the two types of lung cancers exchange their positions with the SCLC being the most malignant. The cure rates also depend on the stage of cancer detection with rates varying by 55% for first stage to just 1% for stage four.
Almost 85% of cases of lung cancer are due to long-term tobacco smoking. Cigarette smoke contains at least 73 known carcinogens. Other factors causing lung cancer are genetic factors and exposure to triggers and carcinogens such as radon gas, asbestos, radioactive materials, second-hand smoke, or air pollution. It has also been demonstrated that passive smokers have a 20–30% increase in risk.
The treatments for lung cancer include surgery, chemotherapy, and radiotherapy with NSCLC responding better to surgery and SCLC usually responding better to chemotherapy and radiotherapy. The main drivers of lung cancer are the growing environmental pollution and smoking. The rise in the cases of lung cancers in females due to rising number of female smokers will drive the market up. Another driver is the greater screening rates with a sizable portion of lung cancer are detected during screening for other diseases.
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Global Lung Cancer Market:
In the coming years, it is expected that the global Lung Cancer market will advance with higher growth rate as compared to previous years. Factors such as Smoking, Rising cases of infections, Rising rates of fast growing lung cancer are driving the growth of the global lung cancer market.
The major participants of this market are F. Hoffmann-La Roche AG, Novartis, PFIZER INC, Merck & Co., Inc, BRISTOL-MYERS SQUIBB, ELI Lilly and Company, Sanofi and others. among others.
Regional Analysis:
The global market for Lung Cancer is growing steadily. The global lung cancer market on the basis of region comprises of North America, Europe, Asia Pacific and Middle East & Africa. The global market for Lung Cancer is growing with the CAGR of 13.5% during the forecast period from 2017-2023. NSCLC is the most common type of lung cancer globally. The global Lung Cancer market reached USD 36929.8 million in 2023 from 15219.7 million in 2016. Europe region captured the second largest market globally and is expected to reach USD 8,536.3 million by 2023 due to the growing demand and need for lung cancer drugs, and the growing prevalence of lung cancer.
Segmentation:
Global Lung Cancer Market has been segmented on the basis of types which comprises of push button Lung Cancer, pressure activated Lung Cancer and side button Lung Cancer. On the basis of end user, it comprises of hospitals & clinics, diagnostic centers and pathology laboratories, home diagnostics and other end users.
Segments:
Global Lung Cancer Market has been segmented on the basis of types which comprises of SCLC and NSCLC. On the basis of treatments it is segmented into Surgery, Chemotherapy, Radiotherapy, Photodynamic therapy (PDT) and Laser therapy. On the basis of end users, it includes Hospitals & Clinics, Cancer Research Centers and Laboratories.
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Regional Analysis of Global Lung Cancer Market:
The global market for Lung Cancer is growing steadily. The global lung cancer market on the basis of region comprises of North America, Europe, Asia Pacific and Middle East & Africa. The global market for Lung Cancer is growing with the CAGR of 13.5% during the forecast period from 2017-2023. NSCLC is the most common type of lung cancer globally. The global Lung Cancer market reached USD 36929.8 million in 2023 from 15219.7 million in 2016. Europe region captured the second largest market globally and is expected to reach USD 8,536.3 million by 2023 due to the growing demand and need for lung cancer drugs, and the growing prevalence of lung cancer.
The report for Global Lung Cancer Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides detail information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
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TABLE OF CONTENTS

1 Report Prologue

2 Introduction

2.1 Research Objective

2.2 Assumptions & Limitations

2.2.1 Assumptions

2.2.2 Limitations

2.3 Market Structure

3 Research Methodology

3.1 Primary Research

3.2 Secondary Research

4 Porters Five Forces

4.1 Introduction

4.2 Bargaining Power of Buyer

4.3 Bargaining power of suppliers

4.3.1 Threat from substitute

4.3.2 Threat from a New Entrant

4.3.3 Intensity of Competitive Rivalry

5 Market Dynamics

5.1 Drivers

5.1.1 Smoking

5.1.2 Environmental pollution

5.1.3 Rising cases of infections

5.1.4 Growing rates of early detection and awareness

5.1.5 Rising rates of fast growing lung cancer

5.1.6 Reimbursements and growing health insurance

5.2 Restraints

5.2.1 Poor efficacy, cure rates and side effects of present treatment

5.2.2 High failure rates of lung transplant surgeries

5.2.3 High malignant nature and faster growth of lung cancer

5.2.4 Poor life expectancy and quality of life of patients undergoing lung cancer treatment

5.2.5 Loss of patents of lung cancer drugs

5.2.6 Scarcity of lung organ and long waiting lines

5.3 Opportunities

5.3.1 Rising research and development

5.3.2 Huge market

5.3.3 Rising support from public and philanthropic bodies and increasing collaboration will help to drive down development cost

5.3.4 Targeted and genetic therapies

5.4 Challenges

5.4.1 High bar for any new treatment

5.4.2 The scarcity of lung transplant organs
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Lung Cancer Market is Projected to grow with a CAGR of 13.5% by 2023