The lung cancer treatment market is projected to expand from US$ 31,018.32 million in 2022 to US$ 80,493.84 million by 2030, reflecting a compound annual growth rate (CAGR) of 12.7% during the period from 2022 to 2030.
Targeted therapy represents a form of personalized medicine that utilizes a combination of two or more drugs specifically aimed at attacking cancer cells. Unlike traditional treatments such as chemotherapy and ablation, which indiscriminately destroy both healthy and cancerous cells, targeted therapies are engineered to selectively eliminate malignant cells while preserving the integrity of healthy ones. Recent advancements in medical technology have significantly increased the emphasis on targeted therapies for lung cancer treatment. Researchers are diligently investigating mutations in lung cancer cells that contribute to their unchecked proliferation. Notably, in May 2021, the US Food and Drug Administration (FDA) granted approval for Lumakras (sotorasib), marking it as the first treatment option for adults with non-small cell lung cancer (NSCLC) who possess the KRAS G12C mutation and have undergone at least one prior systemic therapy. Pharmaceutical companies are leveraging biomarkers such as EGFR, ALK, ROS1, and KRAS to create targeted therapies that facilitate the identification of specific mutations in cancer cells. Consequently, the growing commitment of companies to develop targeted therapies, alongside an increasing awareness of their advantages for lung cancer patients, is anticipated to introduce new trends in the lung cancer treatment market in the near future.
Government initiatives aimed at enhancing lung cancer screening and treatment are propelling the growth of the lung cancer therapy market. According to a report by Johnson & Johnson, lung cancer remains a leading cause of cancer-related deaths globally, often diagnosed at advanced stages. Early-stage lung cancer typically presents no significant symptoms, resulting in nearly 50% of cases being diagnosed only after the cancer has metastasized. In light of this critical issue, various governments are implementing initiatives to promote early detection and screening, followed by timely treatment for lung cancer.
The United States Preventive Services Task Force (USPSTF) identifies individuals aged 50 to 80 with a smoking history of 20 packs per year, whether they are current smokers or have quit within the last 15 years, as being at heightened risk for developing lung cancer. Consequently, the USPSTF recommends annual low-dose computed tomography (LDCT) screenings for these individuals to facilitate early lung cancer detection. Additionally, in July 2022, the Biden Administration unveiled a new model aimed at enhancing cancer care and reducing treatment costs for Medicare beneficiaries.
In July 2021, Cancer Australia collaborated with the Department of Health and Aged Care to assess the feasibility of a lung cancer screening initiative in Australia. Following a favorable feasibility assessment, the Australian government announced an investment of US$ 263.8 million for 2023?2024 to implement a National Lung Cancer Screening Program. This initiative aims to prioritize the prevention and early detection of lung cancer. Furthermore, the Beating Cancer Plan introduced by the European Health Union seeks to address the entire disease continuum by focusing on prevention, treatment, and care for lung cancer patients. Thus, the surge in government-led initiatives for early detection and effective treatment of lung cancer patients is driving the growth of the lung cancer therapy market.
The lung cancer therapy market is categorized based on therapy type, indication, end user, and geographical region. In terms of therapy type, the market is divided into noninvasive and minimally invasive categories. The minimally invasive segment includes radiofrequency ablation, microwave ablation, thermal ablation, cryoablation, chemical ablation, photodynamic ablation, among others. By indication, the market is segmented into non-small cell lung cancer and small cell lung cancer. The end user segmentation includes hospitals, oncology clinics, research centers, and other facilities.
Geographically, the market is segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. North America holds the largest share of the lung cancer therapy market, primarily due to the rising incidence of lung cancer attributed to increased smoking rates, tobacco use, and heightened air pollution from industrial activities. The growth of the lung cancer therapy market in the United States is significantly influenced by the rising number of lung cancer cases, new product launches, and supportive government initiatives. Lung cancer ranks as the second most prevalent cancer in the US. According to the American Cancer Society, approximately 238,340 adults (117,550 men and 120,790 women) were diagnosed with lung cancer in 2023, with around 127,070 fatalities (67,160 men and 59,910 women) attributed to the disease. Lung cancer accounts for one in five cancer-related deaths, establishing it as a leading cause of cancer mortality in the US. Notably, NSCLC constitutes 81% of all lung cancer diagnoses, further driving the growth of the lung cancer therapy market in the US.
Numerous product launches aimed at lung cancer treatment are also contributing to market expansion. For example, in May 2021, the FDA approved Lumakras (sotorasib) as the first targeted therapy for adult patients with non-small cell lung cancer. This therapy specifically targets tumors with KRAS mutations, which are present in approximately 25% of NSCLC cases. Additionally, in May 2021, the FDA granted accelerated approval to amivantamab-vmjw (Rybrevant), a bispecific antibody targeting epidermal growth factor (EGF) and MET receptors, for adult patients with locally advanced or metastatic NSCLC featuring EGFR exon 20 insertion mutations.
According to a report published on whitehouse.gov in May 2023, the Association of Community Cancer Centers (ACCC) and AstraZeneca have partnered to develop and implement sustainable, patient-centered approaches to enhance lung cancer screening in rural America through the "Rural Appalachian Lung Cancer Screening Initiative." The cancer mortality rate in the Appalachian region, which includes all of West Virginia and parts of 12 other states, is 10% higher than the national average. This initiative aims to double the five-year survival rate for lung cancer, thereby contributing to the growth of the lung cancer therapy market in the US.
Key primary and secondary sources utilized in the preparation of the report on the lung cancer therapy market include ClinicalTrails.com, the Centers for Disease Control and Prevention (CDC), the Food and Drug Administration (FDA), and the United States Preventive Services Task Force (USPSTF).