Coherent Market Insights

Non-Small Cell Lung Cancer Treatment Market to Surpass US$ 50,962.7 Mn by 2030

Non-Small Cell Lung Cancer Treatment Market to Surpass US$ 50,962.7 Mn by 2030 - Coherent Market Insights

Publish In: Oct 04, 2022

Global Non-Small Cell Lung Cancer Market, by Type (Adenocarcinoma, Squamous Cell Carcinoma, Large Cell Carcinoma, and Large Cell Neuroendocrine Tumors), by Treatment (Chemotherapy, Targeted Therapy (Bevacizumab (Avastin), Necitumumab (Portrazza), and Ramucirumab (Cyramza), Immunotherapy (Nivolumab (Opdivo), Atezolizumab (Tecentriq), and Others) , by End user ( Hospitals, Homecare, Specialty Clinics and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 24,910.7 Million in 2022 and is expected to exhibit a CAGR of 9.4% during the forecast period (2022-2030), as highlighted in a new report published by Coherent Market Insights.

The increasing launch of devices that can diagnose lung cancer is expected to drive growth of market over the forecast period. For instance, on May 2020, FUJIFILM Corporation, which is a Japan-based multinational conglomerate, launched Artificial Intelligence (AI)-based lung nodule detection technology, an algorithm developed to assist diagnostic imaging by automatically detecting lung nodules in computed tomography (CT) scans. The algorithm detects lung nodules, which appear as white shadows in the lung on an X-ray or CT scan, and identifies them for physicians to further evaluate as they may indicate lung cancer or other diseases.

Global Non-Small Cell Lung Cancer Market– Impact of Coronavirus (COVID-19) Pandemic

The COVID-19 pandemic and lockdowns in various countries across the globe have impacted the financial status of businesses across all sectors, including the private healthcare sector. The COVID-19 pandemic has impacted the entire supply chain of the healthcare industry, mainly due to strict lockdown in several regions. Private healthcare is one such sector that has been impacted significantly by the COVID-19 pandemic.

Individuals with non-small cell lung cancer are particularly vulnerable to COVID-19 infection because the disease, along with its treatment options, such as chemotherapy, compromises the immune system. Cancer patients are more likely to die from COVID-19 because treating patients with lung cancer safely has been made more difficult by a combination of specific pathophysiological factors, such as underlying pulmonary impairment brought on by a history of smoking and rising specific pressures on respiratory healthcare services. The Centers for Disease Control and Prevention (CDC) stated that people with specific chronic medical conditions, such cancer, are more vulnerable to other dangerous diseases as a result of coronavirus. This increased risk is a result of the pandemic's increased need for respiratory care in hospitals.

Global Non-Small Cell Lung Cancer Market: Key Developments

On January 24, 2022, RadNet, Inc., which is an U.S.-based radiology firm acquired two unrelated Netherlands-based technology companies, Aidence Holding B.V., a radiology artificial intelligence (AI) company focusing on clinical solutions for pulmonary nodule management and lung cancer screening and Quantib B.V., a radiology artificial intelligence (AI) and machine learning company focusing on clinical solutions for prostate cancer and neurodegeneration. This acquisition helped to expand RadNet, Inc.’s portfolio of artificial intelligence AI software into two other cancer screening domains.

On May 16, 2022, Baili Biopharmaceutical, which is a biopharmaceutical company focusing on the research and development, manufacturing, and commercialization of medicines for cancer, and AstraZeneca, which is a multinational pharmaceutical and biotechnology company, signed a clinical trial partnership and supply agreement for SI-B001 plus Tagrisso (osimertinib) combination therapy to treat non-small cell lung cancer (NSCLC) patients.

Browse 28 Market Data Tables and 35 Figures spread through 166 Pages and in-depth TOC on “Global Non-Small Cell Lung Cancer Market”-  Forecast to 2030, Global Non-Small Cell Lung Cancer Market, by Type (Adenocarcinoma, Squamous Cell Carcinoma, Large Cell Carcinoma, and Large Cell Neuroendocrine Tumors), by Treatment (Chemotherapy, Targeted Therapy (Bevacizumab (Avastin), Necitumumab (Portrazza), and Ramucirumab (Cyramza), Immunotherapy (Nivolumab (Opdivo), Atezolizumab (Tecentriq), and Others) , by End user ( Hospitals, Homecare, Specialty Clinics and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)

To know the latest trends and insights prevalent in this market, click the link below:

https://www.coherentmarketinsights.com/market-insight/non-small-cell-lung-cancer-market-241

Moreover, increasing air pollution, which is a major factor that causes non-small cell lung cancer is expected to drive growth of market during the forecast period. For instance, according to data published in June 2022, by the Environmental Protection Agency (EPA), which is an independent executive agency of the U.S. federal government tasked with environmental protection matters, stated that in 2021, about 67 million tons of pollution were emitted into the atmosphere in the U.S.

Key Takeaways of the Global Non-Small Cell Lung Cancer Market:

  • Global non-small cell lung cancer market is expected to exhibit a CAGR of 9.4% during the forecast period due to the increasing adoption of strategies such as collaborations and partnerships by the key players. For instance, on November 26, 2021, GE Healthcare, which is global medical technology and digital solutions innovator and Optellum, which is a commercial-stage lung health company providing artificial intelligence decision-support software that assists physicians in early diagnosis and optimal treatment for their patients, collaborated to advance precision diagnosis and treatment of lung cancer.
  • Among type, adenocarcinoma segment is estimated to hold a dominant position in the global non-small cell lung cancer market over the forecast period, owing to the increased rate of adenocarcinoma cancer. For instance, according to data published on June 2022, on National Library of Medicine (NIH), stated that globally adenocarcinoma lung cancer represents about 40% of all lung cancers.
  • On the basis of treatment, immunotherapy is estimated to account for the largest market share in the global non-small cell lung cancer market over the forecast period, owing to increasing product approval for treatment of non-small cell lung cancer. For instance, on October 15, 2021, the U.S. Food and Drug Administration (FDA), approved the immunotherapy drug atezolizumab (Tecentriq) as an additional, or adjuvant, treatment after surgery and chemotherapy for some patients with non-small cell lung cancer.
  • Major players operating in the global non-small cell lung cancer 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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