Non-Small Cell Lung Cancer Market to Reach USD 36.9 Billion, Globally, by 2031 at 9.3% CAGR, Says Allied Market Research

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Dec 13, 2022, 09:20 ET

Rise in prevalence of lung cancer occur in people who smoke and consume tobacco drive the growth of the global non small cell lung cancer market.

PORTLAND, Ore. , Dec. 13, 2022 /PRNewswire/ -- Allied Market Research published a report, titled, "Global Non Small-Cell Lung Cancer Market by Type (Adenocarcinoma, Squamous Cell Carcinoma, Large Cell Carcinoma, Others), by Treatment Type (Chemotherapy, Targeted Therapy, Immunotherapy), by Distribution Channel (Hospital Pharmacy, Drug Store and Retail Pharmacy, Online Pharmacy): Global Opportunity Analysis and Industry Forecast, 2021-2031". According to the report, the global non small cell lung cancer industry generated $15.3 billion in 2021, and is anticipated to generate $36.9 billion by 2031, witnessing a CAGR of 9.3% from 2022 to 2031.

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Prime determinants of growth

Rise in prevalence of lung cancer occur in people who smoke and consume tobacco drive the growth of the global non small cell lung cancer market. However, high-cost expenditure in the treatment of non-small cell lung cancer and stringent government rules for product approval restrict the market growth. Moreover, widespread use of sneakers in numerous environments and a large consumer base including fitness & gym visitors, athletes, and rock climbers, present new opportunities in the coming years.

Covid-19 Scenario

The outbreak of the Covid-19 pandemic had a negative impact on the global non small cell lung cancer market, owing to decrease in number of patients diagnosed with non-small cell lung cancer during the lockdown.
Also, disruption in supply chain during the pandemic resulted in shortage of therapeutics, thereby hampering the market growth.

The adenocarcinoma segment to maintain its leadership status throughout the forecast period

Based on type, the adenocarcinoma segment held the highest market share in 2021, accounting for nearly half of the global non small cell lung cancer market, and is estimated to maintain its leadership status throughout the forecast period, owing to rise in smoking on regular basis around the globe. However, the large cell carcinoma segment is projected to manifest the highest CAGR of 11.3% from 2022 to 2031, owing to the advancements in R&D activities.

The targeted therapy segment to maintain its leadership status throughout the forecast period

Based on treatment type, the targeted therapy segment held the highest market share in 2021, accounting for more than half of the global non small cell lung cancer market, and is estimated to maintain its leadership status throughout the forecast period, owing to its potential to prevent the growth of malignant cells. However, the immunotherapy segment is projected to manifest the highest CAGR of 12.7% from 2022 to 2031, owing to constant investment in developing new products by the key players.

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The hospital pharmacy segment to maintain its lead position during the forecast period

Based on distribution channel, the hospital pharmacy segment accounted for the largest share in 2021, contributing to more than two-thirds of the global non small cell lung cancer market, and is projected to maintain its lead position during the forecast period. This is owing to prevalence of non-small cell lung cancer diseases, such as adenocarcinoma and large cell carcinoma and increase in number of hospitalization of patients suffering with NSCLC. However, the online pharmacy segment is expected to portray the largest CAGR of 15.1% from 2022 to 2031, owing to constant focus of market players to establish their products on e-commerce sales channels along with increase in number of online platforms related to healthcare.

North America to maintain its dominance by 2031

Based on region, North America held the highest market share in terms of revenue in 2021, accounting for around two-fifths of the global non small cell lung cancer market, and is likely to dominate the market during the forecast period, owing to the presence of key players, rising government initiatives, well-developed healthcare infrastructure, and rising awareness about the innovations in healthcare sector. However, the Asia-Pacific region is expected to witness the fastest CAGR of 10.5% from 2022 to 2031, owing to the investments by the public and private market players in this field.

Leading Market Players: -

F. Hoffmann-La Roche Ltd,
Novartis AG,
Pfizer Inc.,
Astrazeneca,
Eli Lilly and Company,
Merck & Co., Inc.,
Bristol-Myers Squibb Company,
Celgene Corporation,
Sanofi,
Boehringer Ingelheim

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