Lung Cancer Drug Market Size (2024 – 2030)

The Global Lung Cancer Drug Market was valued at USD 29 Billion in 2023 and is projected to reach a market size of USD 57.97 Billion by the end of 2030. Over the forecast period of 2024-2030, the market is projected to grow at a CAGR of 10.4%.   

Lung cancer is the second-most common cancer, the treatments of which were not possible in previous times. Further, this resulted in an increase in mortality rates. Additionally, there were limited treatment options such as chemotherapy, however, it too caused certain side effects to patients. Furthermore, recent advancements in technology increased the efficiency of therapies and introduced new-age treatments such as targeted therapy, combination therapies for improving the quality of life, and other forms of treatments. Furthermore, the future holds positive for the lung cancer drug market with the rise in demand for personalized medicines and treatments.

Key Market Insights:

As per WHO (World Health Organization), smoking is the major cause of lung cancer and about 85% of lung cancer cases are attributed to smoking.

Further, according to the American Cancer Society, about 80%-85% of lung cancers are non-small cell lung cancer (NSCLC) and 10%-15% of lung cancers are small cell lung cancer (SCLC)

As per the Indian Council of Medical Research, India will witness a seven-fold increase in lung cancer cases by the year 2025. Further, as per their study, the number will go above 1.61 lakh in the year 2025, with approximately 81,000 plus cases among males and 30,000 among females.

Lung Cancer Drug Market Drivers:

The rising prevalence of lung cancer has contributed to the growth of the lung cancer drug market.

Lung cancers have been increasing at an alarming rate, which is further leading to deaths. Usually, smokers are prone to lung cancers and as per the American Cancer Society, about 8 out of 10 cancer deaths are due to smoking. However, it was also found that even non-smokers were diagnosed with lung cancer. Further, one of the major contributing reasons for lung cancer is the fast-aging population, especially in the Asia-Pacific region, followed by the North American region. Older people are more prone to chronic diseases such as lung cancer, and hence there is an increase in demand for lung cancer drugs in the market. Moreover, the median age of lung cancer diagnosis, as per the National Institutes of Health is 70 years and about 68% of patients are already diagnosed with lung cancer after 65 years of age. Further, this has led to an increase in demand for early screening and detection of lung cancer by patients.

Rising issues of lung cancer due to extreme environmental & working conditions have boosted the market demand for lung cancer drugs.

Recent years witnessed rising environmental concerns, which affected both human and animal health. Moreover, air pollution has become a prime reason contributing to lung cancer in individuals. Further, pollutants released from air-polluting materials such as particulate matter, which are also known as carcinogens contribute to lung diseases in people. According to the National Institutes of Health, outdoor pollution caused about 108,000 deaths due to lung cancer. In addition to that, environmental concerns at the workplace affect workers’ health adversely. These include laborers working in factories and manufacturing units exposed to harsh chemical fumes, asbestos, radioactive elements, and various other emissions that eventually affect their respiratory systems. Moreover, one of the major lung cancer diseases among occupational workers is pneumoconiosis – known as black lung disease, which is caused when exposed to coal dust and particles. All these reasons have necessitated the need for efficient lung cancer drugs in the market.

Lung Cancer Drug Market Restraints & Challenges:

Potential side effects to some individuals due to drug delivery in the body can hamper the market potential of lung cancer drugs.

Pharmaceutical drugs undergo various phases of clinical trials before they are marketed. However, even after successful clinical testing, many drugs cause potential side effects to the patients, as sometimes it does not suit their bodies or conflict with other health issues in their bodies such as diabetes or during pregnancy. This can eventually deter patients from continuing the treatment process and hence hinder the growth opportunities for lung cancer drugs in the market.

Regulatory issues can affect the production and distribution of lung cancer drugs in the market.

The pharmaceutical industry is exposed to various concerns related to regulatory, clinical, and legal, which slow down their trial processes and ultimately affect their production in the market. Moreover, stringent regulations by the government and drug approval organizations delay the treatment process and therefore affect the market demand for lung cancer drugs.

Lung Cancer Drug Market Opportunities:

The lung cancer drug market can benefit through technological advancements in the healthcare sector. These include computational biomarkers, AI drug-monitoring devices, and telemedicine. Further, companies seeking market potential can research and manufacture in these areas and expand their market reach. Further, novels in genetic testing and therapeutics for lung cancer such as RNA-based therapies and targeted gene therapies are other areas that contribute to the further development of the lung cancer drug market.

LUNG CANCER DRUG MARKET REPORT COVERAGE:

Lung Cancer Drug Market Segmentation: By Cancer Type

• Non-Small Cell Cancer (NSCLC)

• Small Cell Lung Cancer (SCLC)

• Mesothelioma

• Others

Based on market segmentation by cancer type, NSCLC occupied the highest share of about 28% in the year 2023 in the market. Non-small cell lung cancer is the most common and major type of lung cancer suffered by patients. Further, the most common sub-type of NSCLC is lung adenocarcinoma, which is mostly found in the outer part of the lungs. Moreover, it is caused due to various factors, however, the most common factor contributing to the growth of this cancer is gene dysregulation, that is, the accumulation of mutations in various genes, resulting in uncontrolled proliferation of the lung cells. This further leads to the development of tumors. Therefore, there is an increasing demand for targeted lung cancer drugs and therapies in the market. Furthermore, chemotherapy is the most common type of treatment used to treat lung cancer cases, as it destroys the cancer cells and prevents them from further spreading in the body. Furthermore, specialized treatments lead to improvement in the survival rates of lung cancer patients. As per the American Cancer Society, NSCLC has a 5 years survival rate of about 28% as compared to other types of cancer.

Small cell lung cancer (SCLC) occupied the second position in the year 2023 in the market. SCLC, though accounts for 10%-15% of all types of cancer, is more aggressive in nature and has comparatively less survival rates than others. Therefore, it requires immediate treatment strategies to reduce the cancer cell growth. Furthermore, the incidences of SCLC are less than NSCLC, however, is faster in growth. Moreover, the elderly population aged between 60-80 years of age are prone to this type of cancer. Additionally, smokers are more likely to develop SCLC and as per a study in Medline, nearly 98% of people suffering from this disease have a history of smoking. This has necessitated the need for effective and speedy treatment of this type of cancer due to its aggressive nature. Further, targeted therapies are being developed for SCLC, which can quickly reduce its growth in other parts of the body. Additionally, chemotherapy is another widely used treatment for treating SCLC in patients with limited-stage disease.

Lung Cancer Drug Market Segmentation: By Treatment

• Chemotherapy

• Targeted Therapy

• Immunotherapy

• Anti-Angiogenesis Drugs

• Combination Therapies

• PARP Inhibitors

• Others

Based on market segmentation by treatment, chemotherapy occupied the highest share of about 25% in the year 2023 in the market. Chemotherapy is the most common type of treatment for inhibiting the growth of cancer cells. It is often used in the primary stage of the treatment or combination with other types of therapies. Furthermore, platinum-based chemotherapies such as cisplatin and carboplatin are widely used to treat NSCLC. Moreover, chemotherapy offers numerous benefits to lung cancer patients, which include shrinking the tumors and reducing the recurrence of cancer in the body. Furthermore, doctors recommend using this therapy in SCLC and the early stages of NSCLC.

The targeted therapy segment occupied second position in the year 2023 in the market. The growth of targeted therapy or precision medicines has increased, as a result of the rising demand for personalized treatments. Moreover, in these therapies, a specific molecule is targeted inside the lungs to shrink cancer and prevent its growth. Additionally, these therapies help in analyzing the development of lung cancer due to genetic mutation and thus aid in devising appropriate drug and treatment strategies. Further, some of the most widely used drugs for treating lung cancer in targeted therapy are EGFR inhibitors, ALK inhibitors, ROS1 inhibitors, and others. Furthermore, advancements in the genetic field have contributed to the development and demand for genetic mutation-targeting drugs for treating lung cancer in patients.

Lung Cancer Drug Market Segmentation:  Regional Analysis

• North America

• Europe

• Asia-Pacific

• South America

• The Middle East & Africa

Based on market segmentation by region, Europe occupied the highest share of about 28% in the year 2023 in the market. Having well-established healthcare facilities and the presence of various market leaders in the European pharmaceutical industry is a key factor contributing to the growth of lung cancer drugs in the market. Furthermore, the high prevalence of lung cancer due to high smoking rates has necessitated the need for innovative lung cancer treatment in the region. For instance, according to the World Health Organization, the European region has the highest prevalence of smoking tobacco with about 28% of adults. Moreover, Hungary, a country in Europe has recorded the highest rate of lung cancer globally in the year 2020, of about 50.1 incidence rate per 100,000 people. (World Cancer Research Fund International). Furthermore, chemotherapy is widely used to treat lung cancer in the region and innovations in immunotherapies are taking place to boost the survival rates of patients in the region.

The fastest-growing segment is Asia-Pacific during the forecast period. Due to the prevalence of the aging population and high number of smokers in countries such as China, Japan, and India, there is an increase in demand for lung cancer drugs in the Asia-Pacific market. Furthermore, radiotherapy combined with chemotherapy is widely used in countries such as India, for treating lung cancer patients.

COVID-19 Impact Analysis on the Lung Cancer Drug Market:

The pandemic had a mixed impact on the lung cancer drug market. Due to the shifted focus towards treating virus-infected patients, there was a delay in the diagnosis and treatment of lung cancer in patients. However, this was offset by the rise of telemedicine during the pandemic, thus availing remote consultations for patients with healthcare professionals. Moreover, supply chain disruptions affected the drug distribution and manufacturing process leading to a decline in the overall productivity of lung cancer drugs. In addition, the healthcare resource allocation such as monetary and research resources were directed towards the pandemic, which adversely affected the lung cancer drug manufacturing companies and declined their growth in the market.

Latest Trends/ Developments:

The lung cancer drug market is witnessing drastic developments in the market as a result of an increase in demand for personalized medicines and treatments, such as biomarker therapies, biosimilars, and others are in continuous development for treating NSCLC and SCLC in patients. Further, trends in liquid biopsy such as detecting lung cancer cells post-surgery and disease monitoring are further shaping the market potential for lung cancer drugs. Moreover, clinical trials and the development of pediatric drugs for reducing the risk of lung cancer are further boosting the growth of lung cancer in the market. These include Eflornithine (Iwilfin) (approved in December 2023), Bosutinib (Bosulif) (approved in September 2023), and others

Key Players:

1. AstraZeneca

2. Novartis

3. Pfizer

4. GlaxoSmithKline (GSK)

5. Merck

6. Amgen

7. Sanofi

8. Takeda

9. Roche

10. Bristol Myers Squibb

• In October 2023, Bristol Myers Squibb acquired Mirati Therapeutics to gain access to FDA-approved non-small cell lung cancer (NSCLC) drugs Krazati, which is a best-in-class KRAS G12C inhibitor. Moreover, this acquisition aimed to diversify the product portfolio of Bristol Myers Squibb in the market.

• In March 2021, Pfizer received approval from US FDA for its lung cancer drug – LORBRENA. The drug is meant for adults with metastatic non-small cell lung cancer, whose tumors are ALK-positive as detected by the FDA-approved test.