In this report, Technavio covers the market outlook and growth prospects of the global lung cancer therapeutics market for 2016-2020. The market is further categorized into two segments based on type of molecule which are small molecules and biologics.
“The global lung cancer therapeutics market is expected to benefit from the growing incidence of lung cancer worldwide. According to National Cancer Institute, in 2012, there were approximately 1.8 million new cases of lung cancer. The increasing adoption of targeted therapies, particularly in developed countries, is expected to drive market growth,” says Sapna Jha, a lead oncology research expert from Technavio.
Technavio’s healthcare and life sciences research analysts segment the global lung cancer therapeutics market into the following regions:
Americas: targeted therapy emerges as primary growth driver
The presence of a large patient pool with lung cancer is expected to drive market growth in the US. The targeted therapy is expected to be one of the primary growth drivers for the market owing to their higher effectiveness. Targeted therapies such as Avastin, Tarceva, and Cyramza generate over 40% of their annual sales from the US market. Also, 81% of non-small cell lung cancer (NSCLC) population in the US use Tarceva as the first-line EGFR mutant therapy. This trend indicates the individual's embedded belief towards targeted therapies in the US.
On the other hand, chemoradiotherapy is the preferred standard of care in Brazil. For instance, it is estimated that approximately 46% of individuals with NSCLC in stage III are treated with chemoradiotherapy. However, the region is also witnessing a gradual adoption of targeted therapies. In addition, the market in Canada is expected to benefit from growing clinical trials, which is likely to drive market growth.
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EMEA: approval of new drugs to boost market growth
The lung cancer market in EMEA is expected to benefit from the growing incidence of lung cancer in key regions such as Europe. It is particularly prevalent in Central and Eastern Europe. Lung cancer is the leading cause of cancer-related deaths in Europe, accounting for approximately 350 million deaths every year. This drives research institutes to focus on personalized medicine (targeted therapies), which is rapidly changing the landscape of lung cancer treatment in Europe. In addition, as European regulatory authorities are pro-biologicals, the advancements in the identification of molecular biomarkers should have a major impact on the clinical decision-making process in the region.
Vendors are increasingly acquiring late-stage pipeline of other companies to cut down R&D costs and focus on marketing initiatives. For instance, in April 2016, Abbvie acquired late-stage Rova-T compound (a drug candidate currently in registrational trials for SCLC) from Stemcentrx. Additionally, the approval of new drugs should further add to the market growth over the next couple of years. For instance, in February 2016, Merck announced that the European Commission (EC) had approved Keytruda (pembrolizumab) for the treatment of locally advanced or metastatic NSCLC.
APAC: MNCs increase their focus on emerging economies
According to the International Association for the Study of Lung Cancer (IASLC), 51% of the world’s lung cancer cases occur in Asia. The primary driver behind this rising incidence rate remains the growing smoking population in Asia. For instance, China is the largest consumer of tobacco worldwide with approximately 301 million smokers in 2015.
The pharma MNCs are increasing their focus on emerging economies such as India. For instance, in April 2016, Eisai Pharmaceuticals India expanded its active pharmaceutical ingredients (API) unit with an investment of USD 6 million. The new facility will undertake the manufacture of drugs for the treatment of lung cancer, thyroid cancer, and epilepsy. However, the high cost of drugs remains a challenge for individuals to opt for treatment for this disease. For instance, the average cost of therapy is estimated to be around USD 10,000 per month per individual. The income in most of the countries in this region is well below the global standards of per capita income, thus, making the treatment unaffordable. This will negatively impact the growth of the market.
The top vendors in the global lung cancer therapeutics market highlighted in the report are:
- F. Hofmann-La Roche
- Eli Lilly
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