Seattle, WA -- (SBWIRE) -- 11/11/2019 -- Lung cancer also called lung carcinoma is a fatal tumor, which is known for its uncontrolled growth in the lungs. As the size of the tumor increases, the ability of lungs to provide oxygen to bloodstreams decreases. The lung carcinoma is classified as, non-small cell and small cell lung cancer and originates from the epithelial cells. Lung cancer has the highest mortality rate globally, wherein major reasons behind it are excessive smoking of cigarettes and pipe along with exposure to asbestos. There are various symptoms of lung cancer including body mucus, chest pain, weight loss, and coughing. Oncologists suggest different treatment options for lung cancer including chemotherapy, immunotherapy, vaccines, and radiation therapy.
Increasing occurrence of non-small cell lung cancer is expected to propel growth of the global lung cancer therapeutics market during the forecast period. According to the World Health Organization (WHO), 2017, 1.8 million new lung cancer cases were diagnosed in 2012 globally, accounting for the leading causes of morbidity and mortality. The launch of innovative radiation therapies, premium priced drugs, and rising incidences of non-small cell lung cancer (NSCLC) are major factors driving growth of the market.
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Growing demand for targeted therapies is expected to boost growth of the global lung cancer therapeutics market during the forecast period. Targeted therapies block the growth by targeting cancer-specific proteins, cells, and tissues that lead to cancer survival and division, without damaging the healthy cells. They are also proved to have higher efficiency over conventional therapies like platinum-based chemotherapy, surgical resection, and radiation therapy. Increasing diagnostic facilities by the government, rise in unhealthy lifestyles, and increasing pollution due to rapid industrialization are the prominent factors driving the global lung cancer therapeutics market. The novel treatment termed targeted therapy is expected to have positive impact on the market
Higher carcinoma lung population dominates the lung cancer therapeutics market in North America
Regional segmentation of the lung cancer therapeutics market by Coherent Market Insights comprises North America, Europe, Asia-Pacific, Latin America and Middle East, and Africa. Among regions, North America holds the dominant position in the global lung cancer therapeutics market, owing to presence large number of lung cancer patients. According to the American Cancer Society estimates of 2017, around 195,000 people are suffering from NSCLC every year in the U.S. where, the number of deaths from NSCLC is recorded to be around 135,000, thus increasing the demand for lung cancer therapeutics in the region.
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Rising prevalence of lung cancer, increasing geriatric population, high smoking habits leading to higher carcinoma lung population are expected to drive the market growth in the region. Asia Pacific is estimated to witness a higher growth rate during the forecast period, owing to growing awareness of enhanced health care, government funding, and the presence of medical requirements for cancer therapeutics in the emerging economies of India and China.
Major players operating the global lung cancer therapeutics market are Pfizer, Celgene, F. Hofmann-La Roche, AstraZeneca and Eli Lilly. The key players adopt various strategies such as, development of efficient drugs, acquisition and mergers, geographical expansion and major investment in research and development to maintain their position in the market. Other prominent vendors include ARIAD Pharmaceuticals, OSE Immunotherapeutics, Novartis, Bristol-Myers Squibb, and OncoGeneX.