Lung Cancer Market Share, Size, Future Demand, Global Research by 2023

Market Overview

Lung Cancer Market is estimated to record a CAGR of 13.5% and is slated to reach USD 36.92 billion by the end of the forecast period by 2023. 

Market Dynamics

Treatments for lung cancer and other cancers must be licensed by regulatory bodies with high standards and stringent testing procedures, which could limit market development. In the forecast period, the decreased life expectancy of patients undergoing lung cancer care due to the lack of lung organ transplants is expected to reduce growth potential.

Because of the COVID-19 pandemic, there have been a slew of significant delays in the process of identification, diagnosis, and treatment, which have been repeatedly found across all types of cancer in the United Kingdom. Pre-COVID, cancer was steadily identified as the leading cause of death worldwide, and lung cancer kills approximately 35 000 people per year, which is more than breast and bowel cancers combined.

Experts expect an additional 1372 lung cancer deaths five years after the discovery of COVID-19 due to a significant rise in lung cancer's late-stage presence. COVID-19 is more acute in lung cancer patients because the determinants are more patient-specific, such as smoking status and chronic obstructive pulmonary disease (COPD), rather than tumor-specific characteristics or therapies.

Market segmentation

By Type, the NSCLC type segment is estimated to lead the type based segment in the forecast period.

By Treatment, the surgery and chemotherapy segments are estimated to control the treatment-based segment's majority stake in the forecast period.

By End-User, the hospitals & clinics segment is forecasted to control a massive share in the end- user segment through the forecast period.

Competitive Dynamics

The leading contenders in the Lung Cancer Market areHoffmann-La Roche Ltd (Switzerland), Novartis AG (Switzerland), Pfizer (U.S.), Merck & Co., Inc. (U.S.), Bristol-Myers Squibb (U.S.), Eli Lilly and Company (U.S.), and Sanofi (France), among others.

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