The lung cancer therapeutics market size in the APAC region is forecasted to be worth USD 1.70 billion by 2027 and USD 1.17 billion in 2022, growing at a CAGR of 7.65% from 2022 to 2027. Asia-Pacific countries such as India and China are the developing regions for the global lung cancer therapeutics market due to the high occurrence of this disease and growing healthcare alertness.
The proliferation of lung cancer is primarily driving the APAC market growth. The most significant risk factor for lung cancer is cigarette smoking. Lung cancer can also be caused by prolonged exposure to cigarette smoke. Targeted therapy is a type of cancer treatment that differs from standard chemotherapy. The medicines used in target treatment operate by focusing on specific genes or proteins found in cancer cells. The other factor, such as increasing pollution due to rapid industrialization, is causing lung cancer risk, influencing the market growth. Patients with the advanced illness have a dismal prognosis, requiring the development of new treatment alternatives. As a result, the NSCLC market shifted away from generic chemotherapy regimens and toward a more complicated treatment landscape based on distinct NSCLC subtypes and molecular aberrations. Over half of all NSCLC cases are detected in those over 65, a high-risk lung cancer age.
The growing awareness among the people about cancer therapeutics in developing countries such as China and India is propelling the market growth in this region. Furthermore, as the region's population ages, the prevalence of lung cancer is expected to rise, providing a revenue boost. Furthermore, an increase in the investment and funding and investments by government and private organizations on research and development of new drugs is expected to uplift the market growth. Additionally, adopting new medical diagnostic Equipment and emerging therapeutics is most likely to increase the market growth. Therefore, the region's key market players focus on constant innovations, product up-gradation, and efficient product offerings for better patient treatments and outcomes.
However, the side effects of drug therapies and the high cost of the therapies have been restraining the market growth.
This research report on the APAC Lung Cancer Therapeutics Market is segmented and sub-segmented into the following categories:
By Treatment Type:
Regionally, the APAC is anticipated to account for a significant share of the global lung cancer therapeutics market. In addition, cigarette smoking has remained standard in the Asia-Pacific region. As a result of the growing prevalence of cancer, the market is expected to rise throughout the forecast period. China is estimated to witness the highest share of the market in the forecast period in the regional market. Growing regulatory approvals and adopting advanced therapeutics are more likely to contribute to the highest share. The most prevalent cancers in China include the lung, stomach, colorectum, liver, and esophagus. In addition, population expansion, age, environmental pollution, and bad eating habits increase the cancer burden and, as a result, cancer treatments.
Also, the Japanese lung cancer therapeutics market is projected to contribute to the APAC regional market growth. New product launches and the prevalence of cancer are expected to escalate the market growth. In addition, the Japanese Ministry of Health, Labor, and Welfare (JMHLW) authorized Keytruda in December 2018 for new indications in advanced, recurrent, or unresectable NSCLC, malignant melanoma, and high microsatellite instability solid tumors. This would help to enhance the company's position in Japan.
The Indian lung cancer therapeutics market is one of the fastest-growing markets in the Asia Pacific over the forecast period. Favorable investments from the government and improving healthcare infrastructure are projected to boost the market growth. F. Hoffmann-La Roche Ltd introduced Tecentriq, a cancer treatment for urothelial carcinoma and non-small cell lung cancer (NSCLC) in India. Due to this, the firm would be able to grow its market in India.
KEY MARKET PLAYERS:
Boehringer Ingelheim GmbH, Hoffman-La Roche, Pfizer Inc., GlaxoSmithKline, Eli Lilly and Company, Agennix AG, AstraZeneca plc, and Sanofi-Aventis are some of the notable companies in the lung cancer therapeutics market in the Asia-Pacific region.
The APAC lung cancer therapeutics market is estimated to grow at a CAGR of 7.65% from 2022 to 2027.
The growing adoption of personalized medicine, the increasing use of immunotherapy, and the emergence of new and innovative treatment options are some of the recent trends in the APAC lung cancer therapeutics market.
AstraZeneca, Bristol-Myers Squibb, Pfizer Inc., Roche, Merck & Co., Inc., and Eli Lilly and Company are a few of the notable companies in the APAC lung cancer therapeutics market.
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