LONDON--(BUSINESS WIRE)--The global non-small cell lung cancer drugs market is expected to post a CAGR of more than 13% during the period 2019-2023, according to the latest market research report by Technavio.
Over the years, the prevalence of non-small cell lung cancer has been increasing at a rapid pace, resulting in a high unmet need for disease-modifying drugs. As a result, several companies have been focusing on R&D for the development of new drugs, which has resulted in the development of a strong drug pipeline for the treatment of non-small lung cancer. A number of drugs have been approved, and several others are in the final stages of approval. Thus, recent drug approvals will drive market growth during the forecast period.
As per Technavio, the use of predictive biomarkers for the development of cost-effective therapies will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global non-small cell lung cancer drugs market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global non-small cell lung cancer drugs market: Use of predictive biomarkers for the development of cost-effective therapies
Lung cancer is a highly heterogeneous disease that can develop either due to gene expression patterns or genetic mutations, which can result in uncontrolled cellular growth and progression. Therefore, the use of biomarkers is highly significant which helps in determining the mutational status of genes. Most of non-small cell lung cancer treatment guidelines recommend the need for biomarker testing as part of the routine diagnosis, prior to initiating therapy in the first-line setting. The use of predictive biomarkers that provide information about the effect of a therapeutic intrusion has become crucial as it helps in the development of cost-effective therapies with improved clinical benefits.
“The prevalence of non-small cell lung cancer has increased significantly across the world owing to the rise in risk factors such as cigarette smoking, secondary smoking, air pollution, and occupational exposure. Lung cancer is the leading cause of cancer deaths worldwide. The rapid industrial development and urbanization are also the major factors driving the high prevalence of lung cancer. This will increase the need for new and effective drugs that can treat non-small cell lung cancer,” says a senior research analyst at Technavio.
Global non-small cell lung cancer drugs market: Segmentation analysis
This market research report segments the global non-small cell lung cancer drugs market by products (biologics, small molecule targeted therapy, and chemotherapy) and geographic regions (Asia, Europe, North America, and ROW).
The biologics segment held the largest non-small cell lung cancer drugs market share in 2018. The growth of the biologics segment can be attributed to the availability of biologics that are used in immunotherapy, the increasing adoption of biologics, recent drug launches, and the strong pipeline targeting first-line treatments for patients with non-small cell lung cancer.
The North America region led the market in 2018, followed by Europe, Asia, and ROW respectively. The market in North America is driven by factors such as the access to patient assistance and co-pay relief programs, the high prevalence of non-small cell lung cancer, strong pipeline and new drug approvals in the region.
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