Non-Small Cell Lung Cancer Treatment Market Segmentation by Treatment Type (Surgery, Radiofrequency Ablation, Radiation Therapy, Chemotherapy, Targeted Therapy, Immunotherapy, and Others); and by End-User (General Medical & Surgical Hospitals, Speciality Hospitals, Clinics, and Others) – Global Demand Analysis and Opportunity Outlook 2029
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In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
The non-small cell lung cancer treatment market is estimated to grow with a high CAGR during the forecast period, i.e., 2021-2029. The rising prevalence of non-small cell lung cancer, along with the growing awareness about the disease are expected to fuel the progress of this market. The growth of the market can also be attributed to factors such as the increase in share of smoking population and the greater exposure to toxins on a global level. According to the data collected from World Health Organization, in 2020, the estimated new cases and number of deaths from lung cancer globally, were 2.21 million and 1.80 million, respectively.
The market is segmented on the basis of treatment type into surgery, radiofrequency ablation, radiation therapy, chemotherapy, targeted therapy, immunotherapy, and others, out of which, the targeted therapy segment is anticipated to grab the largest share by the end of 2021 on account of higher adoption rates and better efficiency of targeted therapy than chemotherapy. Moreover, targeted therapy is widely being used as an adjuvant treatment alongside chemotherapy, which is also projected to contribute to the growth of the segment during the forecast period. CLICK TO DOWNLOAD SAMPLE REPORT
On the basis of end-user, the general medical & surgical hospitals’ segment in the global non-small cell lung cancer treatment market is projected to grow with a significant CAGR over the forecast period. The growth of the segment can be attributed to the fact that general medical & surgical hospitals have well-developed healthcare infrastructure due to their better financial capabilities, which leads to greater proportion of population affected with non-small cell lung cancer choosing this segment for treatment.
Geographically, the market is segmented into North America, Latin America, Europe, Asia Pacific and the Middle East & Africa region. The market in the Asia Pacific is predicted to grow at the highest CAGR over the forecast period owing to the increasing diagnosis rates of non-small cell lung cancer and the need to develop innovative treatment solutions in the region. Furthermore, in 2021, the market in North America is evaluated to occupy the largest share in terms of revenue, owing to the growing investment of governmental and non-governmental agencies in lung cancer research, accompanied by the presence of leading healthcare service providers in the region. Along with this, North America also leads in terms of adoption of advanced immunotherapies along with other therapies, which is also expected to contribute to the market growth in the region. Alternatively, the market in Europe is also anticipated to occupy a significant share in the non-small cell lung cancer treatment market on account of its proven success in terms of research & development and a high prevalence of non-small lung cancer in the region. In Europe, lung cancer is the leading cause of cancer-related deaths and about 85% of all lung cancer cases are classified as those of non-small cell lung cancer.
The global non-small cell lung cancer treatment market is further classified on the basis of region as follows:
Our in-depth analysis of the global non-small cell lung cancer treatment market includes the following segments:
Ans: Rising prevalence of non-small cell lung cancer, and the growing awareness about the disease are the key factors driving market growth.
Ans: The market is anticipated to attain a high CAGR over the forecast period, i.e., 2021-2029.
Ans: The limited treatment options for non-small cell lung cancer and lack of awareness about the disease in lower economic regions are estimated to hamper market growth.
Ans: The market in Asia Pacific region will provide ample growth opportunities owing to the increasing diagnosis rates of non-small cell lung cancer.
Ans: The major players dominating the non-small cell lung cancer treatment market are Genentech, Inc., Celgene Corporation, AstraZeneca plc, and Elli Lilly & Company among others.
Ans: The company profiles are selected on the basis of revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
Ans: The market is segmented by treatment type, end-user and region.
Ans: With respect to end-user, the general medical & surgical hospitals’ segment is anticipated to hold the largest market share owing to their well-developed healthcare infrastructure due to their better financial capabilities.
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