Major players in the lung cancer drugs market are Bristol-Myers Squibb Company, Merck & Co. , F. Hoffmann-La Roche Ltd, Novartis AG, and Pfizer Inc. The global lung cancer drugs market is expected to grow from $8.
New York, May 04, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Lung Cancer Drugs Global Market Report 2021: COVID 19 Impact and Recovery to 2030" - https://www.reportlinker.com/p06067909/?utm_source=GNW
06 billion in 2020 to $8.67 billion in 2021 at a compound annual growth rate (CAGR) of 7.6%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $12.84 billion in 2025 at a CAGR of 10.3%.
The lung cancer drugs market consists of sales of lung cancer drugs.Lung cancer is a type of cancer that decreases the ability of lungs to supply oxygen to the bloodstream beacausebecause of uncontrolled growth of tissues in the lung.
Some of the possible treatments for lung cancer include surgery, chemotherapy, radiation therapy and targeted therapy. On the basis of the size of the tumor cells, lung cancer is broadly divided into small cell lung cancer (SCLC) and non-small cell lung cancer (NSCLC).
The FDA’s guidelines for lung cancer drugs are mentioned within the Code for Federal Regulations (CFR) title number 21 under part 312, which contains sub-parts from ’A’ to ’I’.The sub-part ’E’ deals with the procedures designed to push the development, evaluation and marketing of drugs related to therapies aimed to treat persons with life-threatening illnesses such as lung cancer.
The sub part ’E’ also includes guidelines for monitoring and evaluation of clinical trials of lung cancer drugs and other cancer drugs by agency officials to determine whether new treatments are safe and effective, or better than existing treatments.All drug manufacturers are required to abide to these regulations by the FDA.
Hence, regulations such as these would also keep a check on manufacturers of lung cancer drugs.
Targeted drug therapy in combination with other therapies is an emerging trend in the lung cancer market.It involves the use of immunotherapy drugs combined with other therapies such as chemotherapy that help in early diagnosis, prevention and treatment of the disease.
In this regard, drug manufacturers are developing targeted drug therapies for better diagnosis and treatment of lung cancer. For example, in 2018, Merck and Co. developed pembrolizumab, which is a drug that helps the immune system to detect and fight cancer cells when used in addition to chemotherapy. This combination therapy showed an improvement in lung cancer status in patients. The drug is a major product of Merck and Co., and is sold under the brand name Keytruda.
The rising prevalence rate of lung cancer is a major driver for the lung cancer market.This is mainly because an increase in prevalence and incidence rate of lung cancer cases propels the need for drugs that enable efficient and fast treatment of the disease.
It also drives the industry to maintain a strong pipeline of drugs. According to the International Agency for Research on Cancer (IARC), cancer led to around 9.6 million deaths in 2018, out of which, lung cancer was responsible for the largest number of deaths (1.8 million deaths, 18.4% of the total).
Increasing use of biologics and targeted therapies is a major restraint for the lung cancer market.This is because chemical lung cancer drugs come with myriads of side effects and have a toxic effect on the body.
Chemical drugs lack cell specificity, i.e., they destroy even the normal body cells along with cancer infected cells. While biologic drugs are highly targeted and work on cancer infected cells only. Biologic drugs are also very efficient with no side-effects. Clinical studies have also found that the probability of success of biologic drugs is much higher than the conventional chemical drugs. For example, Cetuximab, Gefitinib and Afatinib are lung cancer biologic drugs which specifically target only the muted form of tumours and do not destroy the normal body cells.
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