Lung Cancer Treatment Market Analysis

Lung Cancer Treatment Market Analysis

Based on type, the lung cancer treatment market is segmented as non-small cell lung cancer, small cell lung cancer, and carcinoid. The non-small cell lung cancer (NSCLC) segment held the largest revenue share in 2022. One of the major drivers for the non-small cell lung cancer (NSCLC) is the availability and effectiveness of targeted therapy for NSCLC treatment. Targeted therapies are drugs that are meant to target specific genetic alterations that are implicated in cancer cell growth and distribution. They are typically more effective and less toxic than traditional chemotherapy. For example, drugs such as Osimertinib and crizotinib used in targeted therapies that have been approved for the treatment of non-small cell lung cancer with specific genetic mutations.
 

According to the American Cancer Society, 236,740 lung and bronchus cancers are likely to be diagnosed in the United States in 2022, with 130,180 deaths. NSCLC is expected to account for about 85% of those cases. Hence, this is likely to create demand for lung cancer treatment over the forecast period.
 

Based on therapy segment, the lung cancer treatment market is segmented as radiation therapy, immunotherapy, targeted therapy, and chemotherapy, and other therapies. The targeted therapy segment had the highest revenue share of 36.6% in 2022. Targeted therapy is a form of personalised medicine, as it is designed to treat patients with specific genetic mutations or abnormalities. This approach allows physicians to tailor treatment to individual patients which can lead to better outcomes. Moreover, several targeted therapy drugs have been approved for the treatment of non-small cell lung cancer, including drugs such as or osimertinib, crizotinib, and alectinib. These drugs have been shown to be effective in treating NSCLC with specific genetic mutations which has led to increased adoption of targeted therapy in clinical practice. These factors are expected to foster the segment growth.
 

Based on end-user, the lung cancer treatment market is segmented as hospitals, specialty clinics, and other end-users. The hospitals segment is anticipated to grow at 12.1% CAGR by 2032. The development of new technologies and treatments for cancer has led to increased demand for cancer care services in hospitals. Hospitals have access to advanced diagnostic tools, such as emerging technologies and genetic testing and are equipped to provide a wide range of cancer treatments, including surgery, radiation therapy chemotherapy, and immunotherapy.
 

North America lung cancer treatment market was valued at USD 15.70 billion in 2022, and it is predicted to increase at a CAGR of 12.4% from 2023 and 2032 owing to rising demand for targeted therapies and increasing incidences of lung cancer across the globe.  has the highest revenue of 7.17 billion in 2022. North America accounted for significant market in lung cancer treatment and there are several factors that contribute its growth and development, owing to growing aging population, technological advancements for lung cancer treatment, and reimbursement policies for lung cancer treatment. The prevalence of lung cancer is increasing in North America which is pushing demand for lung cancer treatment.
 

According to the American Cancer Society lung cancer is the second most common cancer in both men and women in the United States. Moreover, government in North America are investing in cancer research and treatment, which is driving the development of new therapies and treatments for lung cancer. Additionally, Government funded programs provide access to lung cancer screening and early detection programs which provide outcomes for patients with lung cancer.