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Demand for Targeted Therapies to Boost the Global Lung Cancer Therapeutics Market Through 2020, Says Technavio

Technavio Research
Posted on: 28 Nov 16

The global lung cancer therapeutics marketis expected grow at a CAGR of more than 9% during the period 2016-2020, according to Technavio’s latest report.

This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20161128005374/en/

Technavio publishes a new market research report on the global lung cancer therapeutics market from 2016-2020. (Graphic: Business Wire)

In this report, Technavio covers the market outlook and growth prospects of the globallung cancer therapeuticsmarketfor 2016-2020. The market is further categorized into two segments based on type of molecule which are small molecules and biologics.

“The global lung cancer therapeutics market is expected to benefit from the growing incidence of lung cancer worldwide. According to National Cancer Institute, in 2012, there were approximately 1.8 million new cases of lung cancer. The increasing adoption of targeted therapies, particularly in developed countries, is expected to drive market growth,” says Sapna Jha, a lead oncology research expert from Technavio.

Technavio’s healthcare and life sciencesresearch analysts segment the global lung cancer therapeutics market into the following regions:

  • Americas
  • EMEA
  • APAC

Americas: targeted therapy emerges as primary growth driver

The presence of a large patient pool with lung cancer is expected to drive market growth in the US. The targeted therapy is expected to be one of the primary growth drivers for the market owing to their higher effectiveness. Targeted therapies such as Avastin, Tarceva, and Cyramza generate over 40% of their annual sales from the US market. Also, 81% of non-small cell lung cancer (NSCLC) population in the US use Tarceva as the first-line EGFR mutant therapy. This trend indicates the individual's embedded belief towards targeted therapies in the US.

On the other hand, chemoradiotherapy is the preferred standard of care in Brazil. For instance, it is estimated that approximately 46% of individuals with NSCLC in stage III are treated with chemoradiotherapy. However, the region is also witnessing a gradual adoption of targeted therapies. In addition, the market in Canada is expected to benefit from growing clinical trials, which is likely to drive market growth.

Request a sample report: http://www.technavio.com/request-a-sample?report=54612

Technavio’s sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more.

EMEA: approval of new drugs to boost market growth

The lung cancer market in EMEA is expected to benefit from the growing incidence of lung cancer in key regions such as Europe. It is particularly prevalent in Central and Eastern Europe. Lung cancer is the leading cause of cancer-related deaths in Europe, accounting for approximately 350 million deaths every year. This drives research institutes to focus on personalized medicine (targeted therapies), which is rapidly changing the landscape of lung cancer treatment in Europe. In addition, as European regulatory authorities are pro-biologicals, the advancements in the identification of molecular biomarkers should have a major impact on the clinical decision-making process in the region.

Vendors are increasingly acquiring late-stage pipeline of other companies to cut down R&D costs and focus on marketing initiatives. For instance, in April 2016, Abbvie acquired late-stage Rova-T compound (a drug candidate currently in registrational trials for SCLC) from Stemcentrx. Additionally, the approval of new drugs should further add to the market growth over the next couple of years. For instance, in February 2016, Merck announced that the European Commission (EC) had approved Keytruda (pembrolizumab) for the treatment of locally advanced or metastatic NSCLC.

APAC: MNCs increase their focus on emerging economies

According to the International Association for the Study of Lung Cancer (IASLC), 51% of the world’s lung cancer cases occur in Asia. The primary driver behind this rising incidence rate remains the growing smoking population in Asia. For instance, China is the largest consumer of tobacco worldwide with approximately 301 million smokers in 2015.

The pharmaMNCs are increasing their focus on emerging economies such as India. For instance, in April 2016, Eisai Pharmaceuticals India expanded its active pharmaceutical ingredients (API) unit with an investment of USD 6 million. The new facility will undertake the manufacture of drugs for the treatment of lung cancer, thyroid cancer, and epilepsy.However, the high cost of drugs remains a challenge for individuals to opt for treatment for this disease. For instance, the average cost of therapy is estimated to be around USD 10,000 per month per individual. The income in most of the countries in this region is well below the global standards of per capita income, thus, making the treatment unaffordable. This will negatively impact the growth of the market.

The top vendors in the global lung cancer therapeutics market highlighted in the report are:

  • F. Hofmann-La Roche
  • EliLilly
  • AstraZeneca
  • Pfizer
  • Celgene

Browse Related Reports:

Do you need a report on a market in a specific geographical cluster or country but can’t find what you’re looking for? Don’t worry, Technavio also takes client requests. Please contact enquiry@technavio.com with your requirements and our analysts will be happy to create a customized report just for you.

About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

If you are interested in more information, please contact our media team at media@technavio.com.

View source version on businesswire.com: http://www.businesswire.com/news/home/20161128005374/en/

Business Wire
www.businesswire.com

Last updated on: 28/11/2016

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