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What Is the Estimated Market Size of the Lung Cancer Drugs Market In 2029?

The market for lung cancer medication has expanded swiftly in the last few years. The projected growth is from $47.94 billion in 2024 to $54.13 billion in 2025, indicating a compound annual growth rate (CAGR) of 12.9%. The expansion during the historical period can be linked to factors such as epidemiology and demographics, sanctioning of regulations, development of healthcare infrastructure, and enhancement in patient consciousness and education.

What Growth Rate Is Forecasted for the Lung Cancer Drugs Market by 2029?

The market size for lung cancer medication is predicted to enjoy a swift expansion in the forthcoming years. It is projected to reach a value of $82.14 billion by 2029, with a compound annual growth rate (CAGR) of 11.0%. Factors contributing to this growth during the predicted period include the presence of health insurance and repayment schemes, healthcare facilities and accessibility, and emerging markets. Noteworthy trends expected during this forecasted period encompass enhancements in targeted treatments, immunotherapy, genomic profiling, as well as clinical trials and research.

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Which Key Companies Are Shaping the Future of the Lung Cancer Drugs Market?

Major companies operating in the lung cancer drugs market include Bristol-Myers Squibb Company, Merck & Co. Inc., F. Hoffmann-La Roche Ltd., Novartis AG, Pfizer Inc., GlaxoSmithKline plc, Sanofi S.A., Sun Pharmaceutical Industries Ltd., Celgene Corporation, Mylan N.V., Ono Pharmaceutical Co. Ltd., Teva Pharmaceutical Industries Ltd., Takeda Pharmaceutical Company Limited, Ziopharm Oncology Inc., Menarini Group, AstraZeneca PLC, Shanghai Jinhe Bio-Technology Co. Ltd., Nlyte Software, AbbVie Inc., Bayer AG, Boehringer Ingelheim International GmbH, Daiichi Sankyo Company Limited, Eli Lilly and Company Inc., Johnson & Johnson, Amgen Inc., Array BioPharma Inc., Astellas Pharma Inc., Biogen Inc., Clovis Oncology Inc., Eisai Co. Ltd., Exelixis Inc., Genentech Inc., Gilead Sciences Inc., Incyte Corporation, Ipsen Biopharmaceuticals Inc., Jazz Pharmaceuticals plc, Karyopharm Therapeutics Inc., Kyowa Kirin Co. Ltd., Loxo Oncology Inc., MedImmune LLC

Which Factors Are Driving Demand in the Lung Cancer Drugs Industry?

The escalating occurrence rate of lung cancer serves as a major propellant for the lung cancer drugs market. This is primarily because a surge in the prevalence and incidence rate of lung cancer cases fuels the demand for drugs that offer effective and expeditious treatment of the ailment. It also prompts the industry to keep a robust pipeline of drugs. As an illustration, in January 2023, the American Cancer Society, a US-based voluntary health organization committed to eradicating cancer, predicted about 238,340 fresh cases of lung cancer (117,550 in men and 120,790 in women) and around 127,070 deaths from lung cancer (67,160 in men and 59,910 in women) in 2023. Consequently, the increasing occurrence rate of lung cancer is propelling the expansion of the lung cancer drugs market.

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How Is the Lung Cancer Drugs Market Segmented by Several Divisions?

The lung cancer drugs market covered in this report is segmented –

1) By Drugs: Gemzar, Paraplatin, Taxotere, Navelbine, Avastin, Tarceva, Iressa, Other Drugs

2) By Disease Type: Small cell lung cancer (SCLC), Non-small cell lung cancer (NSCLC)

3) By End User: Hospitals, Clinics, Other End-Users

Subsegmentation:

1) By Gemzar: Generic Gemcitabine, Combination Therapies With Gemzar

2) By Paraplatin: Generic Carboplatin, Combination Therapies With Paraplatin

3) By Taxotere: Generic Docetaxel, Combination Therapies With Taxotere

4) By Navelbine: Generic Vinorelbine, Combination Therapies With Navelbine

5) By Avastin: Biosimilars Of Bevacizumab, Combination Therapies With Avastin

6) By Tarceva: Generic Erlotinib, Combination Therapies With Tarceva

7) By Iressa: Generic Gefitinib, Combination Therapies With Iressa

8) By Other Drugs: Immune Checkpoint Inhibitors (Pembrolizumab, Nivolumab), Targeted Therapies (Osimertinib, Crizotinib), Chemotherapy Drugs (Paclitaxel, Cisplatin)

What are the Emerging Market Trends Driving the Growth of the Lung Cancer Drugs Industry?

The use of specialized drug treatments in conjunction with other therapeutic methods is a rising trend in the market for lung cancer drugs. This approach encompasses the application of immunotherapy drugs merged with therapies like chemotherapy, assisting in earlier detection, prevention, and cure of the disease. In light of this, pharmaceutical corporations are engineering specific drug therapies for enhanced diagnosis and treatment of lung cancer. For instance, Merck and Co. created a drug called pembrolizumab to aid the immune system in identifying and combating cancer cells, especially when combined with chemotherapy. This synergistic therapy resulted in upgraded lung cancer condition in patients. The drug is a significant offering of Merck and Co., marketed under the trademark Keytruda.

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Which Regions Are Driving Growth in the Lung Cancer Drugs Market?

North America was the largest region in the lung cancer drugs market in 2023. Middle East is expected to be the fastest-growing region in the lung cancer drugs market during the forecast period. The regions covered in the lung cancer drugs market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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This Report Delivers Insight On:

1. How big is the lung cancer drugs market, and how is it changing globally?

2. Who are the major companies in the lung cancer drugs market, and how are they performing?

3. What are the key opportunities and risks in the lung cancer drugs market right now?

4. Which products or customer segments are growing the most in the lung cancer drugs market?

5. What factors are helping or slowing down the growth of the lung cancer drugs market?

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