Increasing understanding of non-small cell lung cancer and R&D in new drugs development for the disease would drive market growth

NEW YORK, NEW YORK, UNITED STATES, September 3, 2021 /EINPresswire.com/ -- The Global Non-Small Cell Lung Cancer Market size is forecast to reach USD 11.87 Billion by 2028, registering a CAGR of 6.2% over the forecast period, according to a new report by Reports and Data. Major factors driving market revenue growth is the introduction of immune checkpoint inhibitors (ICIs) into the first-line context. Non small cell lung cancer accounts for 80 percent to 85 percent of all lung cancer cases across the world, and this high proportion has prompted the majority of market leaders to focus on constant innovation of new therapies and improving the efficacy of existing medicines. The market growth is also owing to lung cancer's reputation as one of the most common malignancies, contributing to a considerable number of deaths globally. The expansion of the non small cell lung cancer market is further aided by an increase in the frequency of diagnosis of non small cell lung cancer and increased awareness about the disease in developed and emerging countries. This, combined with increased spending by leading companies in research and development operations, as well as the inclusion of non-small cell cancer therapies in major market participants' pipelines, is fueling global market expansion.

One of the challenges of the non-small cell lung cancer market is the high cost of treatment. The disease can be treated by chemotherapy, surgery, targeted therapies, radiation therapy, and immunotherapy, which is quite expensive. Thus, the high cost of the treatment is expected to restrain growth of the market.

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Key participants in non small cell lung cancer market include

Tarceva, Avastin, Gemzar, Alimta, Taxotere, AstraZeneca, Roche, Merck KGa, Nlyte, and Panduit Corp. among others.

Market Overview:

The pharma and healthcare industry has undergone a revolutionary change owing to the COVID-19 pandemic with individuals increasing their focus on health and wellness. Companies operating in the industry have invested heavily in clinical trials and research studies to develop medications to cater to the growing unmet clinical demand on a global level. Implementation of cutting-edge technology in healthcare sector and increasing investment in research and development have contributed significantly to revenue growth of the market in the recent past. In addition, availability of favorable health insurance and reimbursement policies have also positively impacted the healthcare sector with more and more individuals opting to get treatment at hospital and clinical facilities. Rapid development of novel drugs and pharmaceuticals, increasing incidence of lifestyle and chronic diseases, establishment of state-of-the-art healthcare facilities, and rising availability of over-the-counter medications have significantly contributed to the revenue growth of the market.

The report has gather vital information about recent mergers and acquisitions, joint ventures, collaborations, partnerships, brand promotions, R&D activities, and government and corporate deals, among others through extensive primary and secondary research. The report also offers detailed analysis of each competitor along with their financial standing, global market position, product portfolio, manufacturing and production capacity, and business expansion plans.

The report offers a comprehensive overview of the regional bifurcation of the market with respect to market share, market size, revenue growth, import/export, production and consumption patterns, macro and micro economic growth factors, regulatory framework, investment and funding opportunities, and presence of key players in each region including North America, Asia Pacific, Latin America, Europe, and Middle East & Africa. The report offers a country-wise analysis to further discuss the revenue growth and lucrative growth opportunities for the Non-Small Cell Lung Cancer market in these key regions.

Further key findings from the report suggest

• On the basis of histology the market is segmented into squamous cell carcinoma, large cell carcinoma and adenocarcinoma. Adenocarcinoma held the largest revenue share in the market in 2020. Adenocarcinoma accounts for approximately more than 40% of lung cancer and is found mostly in women and grows more slowly than any other cancers.

• Surgery is expected to grow at a CAGR of 6.8% during the forecast period. Surgery performed at an early stage is the best chance to cure non small cell lung cancer.

• Among the various drug class segments of the market, angiogenesis inhibitor accounted for the largest market share in 2020. It is a substance that inhibits the growth off new blood vessels.

• The market in Asia Pacific is expected account for the largest market revenue share in non-small cell lung cancer market. Rising awareness about cancer and initiatives undertaken by governments in the region will encourage market growth for non-small cell lung cancer. Development of public healthcare centers and subsidized treatment will fuel the market growth.

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Segments Covered in the Report:

For the purpose of this report, Reports and Data has segmented the global non-small cell lung cancer market on the basis of histology, treatment, drug class, and region:

Histology Outlook (Revenue, USD Billion; 2018 – 2028)

• Squamous Cell Carcinoma
• Large Cell Carcinoma
• Adenocarcinoma

Treatment Outlook (Revenue, USD Billion; 2018 – 2028)

• Surgery
• Radiation
• Chemotherapy
• Targeted Therapy Drugs

Drug Class Outlook (Revenue, USD Billion; 2018 – 2028)

• Angiogenesis Inhibitor
• Epidermal Growth Factor Receptor Blocker
• Kinase Inhibitor
• Microtubule Stabilizer
• Folate Antimetabolites
• PD-1/ PD-L1 Inhibitor

Regional Outlook (Revenue, USD Billion; 2018 – 2028)

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

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