news 2 days ago

Global Non-Small Cell Lung Cancer Drugs Market 2019-2023 | 13% CAGR Projection Over the Next Five Years | Technavio

The Associated Press

LONDON--(BUSINESS WIRE)--Apr 15, 2019--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.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190415005090/en/

The global non-small cell lung cancer drugs market will post a CAGR of more than 13% during the period 2019-2023 (Graphic: Business Wire)

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.

Looking for more information on this market? Request a free sample report

Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.

Some of the key topics covered in the report include:

Market Landscape

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

Market Sizing

  • Market definition
  • Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

  • Regional comparison
  • Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

If you are interested in more information, please contact our media team at media@technavio.com.

View source version on businesswire.com:https://www.businesswire.com/news/home/20190415005090/en/

CONTACT: Technavio Research

Jesse Maida

Media & Marketing Executive

US: +1 844 364 1100

UK: +44 203 893 3200

www.technavio.com

KEYWORD:

INDUSTRY KEYWORD: HEALTH ONCOLOGY PHARMACEUTICAL

SOURCE: Technavio Research

Copyright Business Wire 2019.

PUB: 04/15/2019 10:34 AM/DISC: 04/15/2019 10:34 AM

http://www.businesswire.com/news/home/20190415005090/en