Global Lung Cancer Market Insights Shared in Detailed Report Considering Symptoms, Diagnosis, Treatment and Management Report
Nov 9, 2018
Lung Cancer Market is forecasted to demonstrate a spectacular growth by 2023, surpassing its previous growth records in terms of value with a striking CAGR during the anticipated period (2017 – 2023).
Pune, India - November 8, 2018 /MarketersMedia/ —
Lung Cancer Market is growing mainly due to the changing lifestyle, and environmental pollution. According to a recent study report published by the Market Research Future, The lung cancer market is booming and expected to gain prominence over the forecast period. The market is forecasted to demonstrate a spectacular growth by 2023, surpassing its previous growth records in terms of value with a striking CAGR during the anticipated period (2017 – 2023).
Lung Cancer Market Major Key Players: F. Hoffmann-La Roche Ltd (Switzerland), Novartis AG (Switzerland), Pfizer (US), Merck & Co., Inc. (US), Bristol-Myers Squibb (US), Eli Lilly and Company (US), and Sanofi (France) are some of the prominent players at the forefront of competition in the lung cancer market and are profiled in MRFR Analysis.
Other push factors such as, environmental pollution, rising cases of infections, growing rates of early detection and awareness, rising rates of fast growing lung cancer, and reimbursements and growing health insurance are also fuelling the growth of the market.
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Despite these drivers, poor efficacy, cure rates and side effects of present treatment, high failure rates of lung transplant surgeries, high malignant nature and faster growth of lung cancer, poor life expectancy and quality of life of patients undergoing lung cancer treatment, and scarcity of lung organ and long waiting lines are expected to decline the market growth. According to American Society of Clinical Oncology (ASCO) the 5-year survival rate for stage I NSCLC is about 47% which falls drastically to 10% for stage III. The 5-year survival rate for stage IV NSCLC is just around 1%.
Lung cancer is a malignant lung tumor characterized by uncontrolled cell growth in lung tissue with symptoms such as coughing, weight loss, and fatigue and chest pain. The two types of lung cancers are small-cell lung cancer (SCLC) and non-small-cell lung cancer (NSCLC). The NSCLC type accounts for almost 80% of the total lung cancers. The cure rates for the two types of lung cancers exchange their positions with the SCLC being the most malignant. The cure rates also depend on the stage of cancer detection with rates varying by 55% for first stage to just 1% for stage four.
Almost 85% of cases of lung cancer are due to long-term tobacco smoking. Cigarette smoke contains at least 73 known carcinogens. Other factors causing lung cancer are genetic factors and exposure to triggers and carcinogens such as radon gas, asbestos, radioactive materials, second-hand smoke, or air pollution. It has also been demonstrated that passive smokers have a 20–30% increase in risk.
The treatments for lung cancer include surgery, chemotherapy, and radiotherapy with NSCLC responding better to surgery and SCLC usually responding better to chemotherapy and radiotherapy. Notably, smoking is the primary driver for the rising cases of lung cancer. According to World Health Organization (WHO) tobacco kills more than 7 million people each year of which more than 6 million deaths are the result of direct tobacco use. Lung cancer is the leader with a whopping 37% of deaths. Of more concern is the rising rates of lung cancer due to passive smoking.
The lung cancer market is currently dominated by various players. Lung cancer has become one of the nost common causes of cancer death worldwide. So, in recent years various existing and new marketers are continuously coming up with innovative products to control this condition.
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For instance, F. Hoffmann-La Roche Ltd, a Switzerland based company, manufactures various cancer treatment products such as anti-bcl-2 (SP66) Rabbit Monoclonal Primary Antibody, anti-c-MYC (Y69) Rabbit Monoclonal Primary Antibody, anti-CD7 (SP94) Rabbit Monoclonal Primary Antibody, anti-CEA (TF 3H8-1) Primary Antibody, anti-Cytokeratin 5/6 (D5/16B4) Mouse Monoclonal Primary Antibody, anti-E-cadherin (EP700Y) Rabbit Monoclonal Primary Antibody, and others. In the year 2013, Roche received FDA approval for Tarceva (erlotinib) tablets and cobas EGFR Mutation Test for specific type of lung cancer.
Pfizer is another US based renowned bio pharmaceutical organization. In July 2016, Pfizer and Western Oncolytics announce immuno-oncology research collaboration. This collaboration has the aim to investigate novel oncolytic virus technology. Under terms of agreement, Pfizer and Western Oncolytics will collaborate on preclinical, clinical development of WO-12 through Phase I trials. Financial terms of agreement are not disclosed.
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.
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Source: MarketersMedia
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