Mar 24, 2020   SOURCE: PR NewsWire

Non-Small Cell Lung Cancer Treatment Market to Surpass US$ 39,395.2 Million, Globally, by the end of 2027 - CMI

SEATTLE, March 24, 2020 /PRNewswire/ -- According to Coherent Market Insights, the global non-small cell lung cancer treatment market was estimated to be valued at US$ 19,161.7 million in 2019, and is expected to exhibit a CAGR of 9.3% over the forecast period (2019-2027).

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Key Trends and Analysis of the Global Non-Small Cell Lung Cancer Treatment Market:

The global non-small cell lung cancer treatment market is expected to generate high revenue over the forecast period, owing to increasing regulatory approval of drug. For instance, in September 2018, Pfizer received the U.S. FDA approval for its VIZIMPRO (dacomitinib), a drug indicated for the treatment of patients with metastatic non-small cell lung cancer (NSCLC), Moreover, in May, 2019, Pfizer Inc. received European Commission's (EC) marketing authorization for the LORVIQUA drug, a monotherapy drug used for treatment of anaplastic lymphoma kinase (ALK)-positive advanced non-small cell lung cancer (NSCLC).

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Key players in the market are involved in various business strategies such as collaborations and partnerships, in order to develop novel cancer treatments and gain competitive edge in the global market. For instance, in February 2019, GlaxoSmithKline Pharmaceuticals Limited (GSK) and Merck KGaA, Darmstadt, Germany entered into collaboration to develop and commercialize M7824, which is a novel immunotherapy for difficult-to-treat cancers. This novel immunotherapy is also indicated for non-small cell lung cancer.

Furthermore, smoking is a major cause of non-small cell lung cancer and increasing number of smokers across the world are contributing to the increasing incidence of non-small cell lung cancer. For instance, according to stats published by the International Association for the Study of Lung Cancer (IASLC), China is the world's largest consumer of tobacco and has around 301 million smokers. According to data published by the World Health Organization (WHO) for 2012, around 58% of the cases of smokers occurred in less developed regions.

Key Market Takeaways:

    --  The global non-small cell lung cancer treatment market is expected to
        exhibit a CAGR of 9.3% over the forecast period (2019-2027), owing to
        increasing launches of product. For instance, in July 2019, Sandoz, a
        Novartis division has launched generic oncology medicine 'gefitinib'
        indicated for adult patients with locally advanced or metastatic
        non-small cell lung cancer with activating mutations of EGFR-TK.
    --  Among region, North America is expected to hold a dominant position in
        the global non-small cell lung cancer treatment market over the forecast
        period, owing to increasing prevalence of lung cancer in the region. For
        instance, according to the American Society of Clinical Oncology, lung
        cancer is the second most common cancer and the leading cause of cancer
        death in men and women. It is estimated that 148,945 deaths occurred due
        to lung cancer in the U.S. in 2016.

Major players operating in the global non-small cell lung cancer treatment market include--

Pfizer Inc., AstraZeneca plc, F. Hoffmann-La Roche Ltd., Eli Lilly and Company, Boehringer Ingelheim GMBH, Novartis AG, Bristol-Myers Squibb Company, and Merck & Co., Inc.

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Market Segmentations:

    --  Global Non-small Cell Lung Cancer Treatment Market, by Type:
        --  Adenocarcinoma
        --  Squamous Cell Carcinoma
        --  Large Cell Carcinoma
        --  Large Cell Neuroendocrine Tumors
    --  Global Non-small Cell Lung Cancer Treatment Market, by Treatment:
        --  Chemotherapy
        --  Targeted Therapy
            --  Bevacizumab (Avastin)
            --  Necitumumab (Portrazza)
            --  Ramucirumab (Cyramza)
        --  Immunotherapy
            --  Nivolumab (Opdivo)
            --  Atezolizumab (Tecentriq)
            --  Others
    --  Global Non-small Cell Lung Cancer Treatment Market, by Region:
        --  North America
            --  By Country:
                --  U.S.
                --  Canada
        --  Europe
            --  By Country:
                --  U.K.
                --  Germany
                --  Italy
                --  Spain
                --  France
                --  Russia
                --  Rest of Europe
        --  Asia Pacific
            --  By Country:
                --  Australia
                --  India
                --  China
                --  Japan
                --  ASEAN
                --  South Korea
                --  Rest of Asia Pacific
        --  Latin America
            --  By Country:
                --  Brazil
                --  Mexico
                --  Argentina
                --  Rest of Latin America
        --  Middle East
            --  By Country:
                --  GCC
                --  Israel
                --  Rest of Middle East
        --  Africa
            --  By Country/Region:
                --  South Africa
                --  Central Africa
                --  North Africa

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SOURCE Coherent Market Insights