Lung Cancer Market Synopsis

Lung Cancer Market Size Was Valued at USD 32993.5 Million in 2023, and is Projected to Reach USD 73695.34 Million by 2032, Growing at a CAGR of 9.34% From 2024-2032.

Lung Cancer is a Cancer in which, that forms tissues of the lung, usually in the cells continuously that line the air passages. It is the leading cause of cancer death in both men and women.

• Medical professionals are using advanced imaging techniques like computed tomography scans and X-rays to identify the presence of lung tumors at an early stage. Early detection increases the chances of successful treatment and improved patient outcomes.
• Diagnosis of lung cancer by using Various tests like molecular testing, biopsy, and imaging, where Staging helps to determine the extent of cancer spread, hence this helps in planning the treatment.
• Targeted therapies and immunotherapies help to know about the specific type of lung cancer and its molecular profile helps in selecting appropriate treatment options that are designed to attack specific genetic mutations and fight against the cancer cells.
• Monitoring the treatment like Regular imaging scans, blood tests, and other diagnostic tools that are utilized to monitor treatment response and assess the effectiveness of various interventions helps to know if any adjustments should be done or not.
• The advanced tools and statistical models can assist in estimating prognosis and survival rates based on factors such as tumor characteristics, patient demographics, and treatment response.

Top Active Players

“Roche (Switzerland), Eli Lilly and Company (USA), Celgene Corporation (USA), Merck Sharp & Dohme Corp. (USA), AstraZeneca (UK), Pfizer Inc (USA), Sanofi (France), Astellas (Japan), Bristol Myers Squibb (USA), Novartis AG (Switzerland), Amgen Inc (USA), Johnson & Johnson (USA), Boehringer Ingelheim (Germany), Genentech (USA), GSK (UK), Aark Pharmaceuticals (India), Sun pharma (India), Boehringer Ingelheim Pharmaceuticals, Inc. (USA), Takeda (Japan), Seagen Inc., (USA), Eli Lilly (USA), Bristol Myers Squibb (USA), Blueprint Medicines (USA), Daiichi Sankyo (Japan), Bayer (Germany) and Other Active Players.”

Lung Cancer Market Trend Analysis

Increase in Incidence of Lung Cancer

• The rise in lung cancer cases drives the need for efficient and accurate diagnostic technologies. This includes advancements in imaging techniques, such as computed tomography, magnetic resonance imaging, and positron emission tomography, as well as the development of liquid biopsies and genetic testing methods.
• Smoking is the leading cause of lung cancer, and regions with higher rates of tobacco use tend to have a higher incidence of the disease. As the smoking rates continue to be a concern globally, it directly impacts the occurrence of lung cancer.
• Exposure to environmental pollutants like secondhand smoke, radon gas, asbestos, air pollution, and occupational hazards like asbestos exposure in certain industries, can increase the risk of developing lung cancer.
• The Changes in lifestyle factors like unhealthy diet patterns, sedentary lifestyles, and lack of physical activity, are also leading to an increase in the risk of developing lung cancer.
• Genetic mutations or inherited conditions can also increase the susceptibility to developing lung cancer, which is further contributing to the incidence of the disease. Hence, in this way, it is acting as a driver which is increasing lung cancer.

Opportunity

Advancement In Technology

• Advanced imaging technologies like computed tomography (CT), magnetic resonance imaging (MRI), and positron emission tomography (PET), have greatly improved the detection and staging of lung cancer. These technologies provide a detailed visualization of the tumor help determine the extent of cancer spread and help guide the patients.
• Minimally Invasive Diagnostic Procedures like endobronchial ultrasound, electromagnetic navigation bronchoscopy, and virtual bronchoscopy have revolutionized lung cancer diagnosis, these techniques allow for the collection of tissue samples from suspicious lung nodules or lymph nodes, aiding in accurate diagnosis.
• With the use of next-generation sequencing and other molecular profiling techniques, it has become possible to identify specific genetic alterations and mutations in lung cancer. Telemedicine platforms and remote monitoring systems are also helpful to enable healthcare providers to remotely monitor lung cancer patients, allowing for regular follow-up visits, symptom management, and treatment adjustments. Hence, In this advancement of technology in lung cancer acts as an opportunity.

Lung Cancer Market Segment Analysis:

Lung Cancer Market Segmented on the basis of Diagnostics & Therapy, Type, Drug Class, End User, Distribution Channel, And Segment6.

By Type, Non-Small Cell Lung Cancer Segment Is Expected to Dominate the Market During the Forecast Period

• Non-small Cell Lung Cancer is the most common type of lung cancer, that is accounting for 81% of all lung cancer diagnoses. Early diagnosis offers the best practice for Non-Small Cell Lung Cancer but it can be difficult to diagnose because these cancers often have very common symptoms like illnesses or sometimes no symptoms can be seen. Because of this, 80% of people with Non-Small Cell Lung Cancer have already progressed to advanced stages, making it more difficult to treat.
• The advancements in diagnostic techniques, like molecular testing and genetic profiling, have led to a better understanding of the different subtypes of NSCLC which has allowed for more personalized treatment approaches.
• The targeted therapies and immunotherapies have made significant progress in the development of new and effective treatments for NSCLC, hence this overall preference making this NSCLC segment a dominant segment.

By End User, Diagnostic Imaging Centers Segment Held the Largest Share In 2023

• Diagnostic imaging centers play a major role in the early detection, diagnosis, and monitoring of lung cancer patients. The diagnostic imaging centers are equipped with well-advanced imaging technologies like computed tomography scanners, magnetic resonance imaging, and positron emission tomography. These imaging modalities enable the accurate visualization of the lungs and aid in the detection of lung cancer at various stages especially which is helpful in the early detection of the treatment.
• These centers also offer a wide range of lung cancer screening services like they provide access to highly skilled radiologists who specialize in interpreting lung imaging studies. Early detection screening programs, such as low-dose CT scans for high-risk individuals, are also often conducted in these centers.
• These centers collaborate with oncologists and other healthcare providers to facilitate the accurate staging and progression assessment of lung cancer, they also offer convenience and accessibility to patients where they provide facilities all under a single roof at a time.

• The Revenue of Diagnostic Imaging Devices in 2019 was 42.88 billion US Dollars whereas in 2023 it increased to 46.05 billion US dollars.

Lung Cancer Market Regional Insights:

North America is Expected to Dominate the Market Over the Forecast Period

• The region has many leading pharmaceutical and biotechnology companies, academic institutions, and research centers that focus on lung cancer research. This helps in fostering innovation and the development of new treatment approaches, therapies, and drugs, which is strengthening the market position of North America.
• Factors such as a large population, high smoking rates over the years, and environmental factors have led to a relatively higher incidence of lung cancer in this region.
• The well has advanced healthcare infrastructure and a well-established healthcare system, which enables early detection, diagnosis, and treatment of lung cancer cases. Screening programs, access, and well-trained healthcare professionals contribute to improved patient outcomes.
• The funding from various organizations and foundations works towards raising public awareness, promoting early screening, and improving public health policies related to lung cancer. Hence, in this way, North America is expected to dominate in this sector.

Lung Cancer Market Active Players

• Roche (Switzerland)
• Eli Lilly And Company (USA)
• Celgene Corporation (USA)
• Merck Sharp & Dohme Corp. (USA)
• AstraZeneca (UK)
• Pfizer Inc (USA)
• Sanofi (France)
• Astellas (Japan)
• Bristol Myers Squibb (USA)
• Novartis Ag (Switzerland)
• Amgen Inc (USA)
• Johnson & Johnson (USA)
• Boehringer Ingelheim (Germany)
• Genentech (USA)
• Gsk (UK)
• Aark Pharmaceuticals (India)
• Sunpharma (India)
• Boehringer Ingelheim Pharmaceuticals, Inc. (USA)
• Takeda (Japan)
• Seagen Inc., (USA)
• Eli Lilly (USA)
• Bristol Myers Squibb (USA)
• Blueprint Medicines (USA)
• Daiichi Sankyo (Japan)
• Bayer (Germany) And Other Active Players.

Key Industry Developments in the Lung Cancer Market:

• In May 2024, Lucem Health Launched, A New AI-driven solution to Accelerate Lung Cancer Screening for At-Risk Patients, which aims to help healthcare organizations improve the identification and engagement of patients at a higher statistical risk for certain respiratory illnesses, including cancers of the lung or trachea, facilitating earlier diagnosis and treatment.