Global Non-Small Cell Lung Cancer Therapeutics Market – Snapshot
Non-small cell lung cancer therapeutics or NSCLC is one of the common forms of cancer treatments. This is due to the fact that NSCLC can metastasize in human bones, which can be a difficult for diagnose and treat the disease. In around 90% of the all types of lung cancer are of non-small cell lung cancer. Therapeutics for NSCLC first targets the cancer type from its first stage to its last. They are specifically designed from a blend of advanced proteins and simple chemistry. Increasing awareness because of several government initiatives are helping to boost the development of the global non-small cell lung cancer therapeutics market.
In addition to this, growing approvals for new drugs and non-small cell lung cancer therapeutics by the US FDA (Food and Drug Administration) and other authoritative bodies. Moreover, several other authoritative bodies are now funding several research and development activities and are thus lending their support for the development of the global non-small cell lung cancer therapeutics market.
A recent research report published by Transparency Market Research expects the global non-small cell lung cancer therapeutics market to exhibit a massive CAGR of 12.1% for the given forecast period of 2015 to 2024. This growth rate will take the market to a valuation worth US$15.1 bn by the end of 2024. Initially, the global non-small cell lung cancer therapeutics market was valued at US$4.9 bn in the year 2014.
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Angiogenesis Inhibitor Segment to Show Most Growth Potential in Coming Years
In terms of pipeline, the global non-small cell lung cancer therapeutics market can be segmented in early stage (phase I and II) and late stage (phase III). In terms of class of drugs, the global market is further segmented into PD-1/PD-L1 inhibitor, kinase inhibitor, microtubule stabilizer, EGFR inhibitor, folate antimetabolites, and angiogenesis inhibitors. Of these, the segment of angiogenesis inhibitor is currently dominating the global market. This particular segment is projected to continue its domination in the global market for non-small cell lung cancer therapeutics over the course of the given period of assessment. The growth of the segment is mainly attributed to the increasing demand for highly effective and more targeted therapies in both established as well as emerging economies such as the US, India, Japan, and Europe among others. With such growing demand, the angiogenesis inhibitor segment of the non-small cell lung cancer therapeutics market is expected to exhibit a CAGR of 1.8% for the period of 2015 to 2024. With this growth rate, the segment is expected to reach a valuation worth US$2,020.4 mn by the fall of 2024.
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Asia Pacific to Exhibit Promising Rate of Growth in Near Future
In terms of regional segmentation, the global non-small cell lung cancer therapeutics market has five major regions namely, North America, Latin America, Asia Pacific, Europe, and the Rest of the World. Among these, the regional segment of North America is currently dominating the international market because of the increasing support from the federal government in the US for enhancing the overall healthcare infrastructure. On the other hand, Asia Pacific segment is projected to show a promising rate of growth in the next few years of the forecast period. This growth is mainly attributed to the growing number of patient base suffering from lung cancer, increasing awareness about the availability of new treatment methods of cancer, and increasing spending on healthcare infrastructure in the emerging countries.
Companies Mentioned in the Research Report
Owing to the presence of a large pool of players, the global market for non-small cell lung cancer therapeutics demonstrates a highly competitive and fragmented landscape. Genentech Inc., GlaxoSmithKline PLC, Pfizer Inc., Astra Zeneca PLC, Celgene Corp., Eli Lilly & Co., Boehringer Ingelheim, Sun Pharmaceutical Industries Ltd., and Bristol-Myers Squibb are some of the key players in this market across the world.
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