Lung cancer is one of the most common cancer types across the world. It is also the most common cause of cancer-related deaths globally. The mortality rate of lung cancer is increasing significantly, which creates a huge opportunity for vendors in the market. Thus, the rising prevalence of lung cancer owing to increasing geriatric population and lifestyle changes will fuel the growth of the lung cancer therapeutics market during the forecast period. Furthermore, this industry research report also presents a competitive analysis of the market by type (non-small-cell lung cancer and small-cell lung cancer) and geography (Asia, Europe, North America, and ROW).
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Technavio has released a new market research report on the global lung cancer therapeutics market from 2019-2023. (Graphic: Business Wire)
Competitive vendor landscape
The global lung cancer therapeutics market is highly competitive with major vendors such as Bristol-Myers Squibb Company, F. Hoffmann-La Roche Ltd, Merck Co., Inc., Novartis AG, and Pfizer Inc, competing on the basis of price, quality, and market presence.
"The indications of lung cancer cannot be completely treated with targeted therapies such as immunomodulators. Thus, there is a high need for therapies which can provide complete treatment of lung cancer and do not have any adverse effects. This has resulted in the development of various regenerative therapies such as gene therapy, which is helping to reduce the prevalence of lung cancer. The popularity of regenerative therapies will increase during the forecast period, which will have a significant impact on the growth of the lung cancer therapeutics market," says a senior analyst at Technavio
Top five lung cancer therapeutics market vendors
Bristol-Myers Squibb Company
Bristol-Myers Squibb Company owns and operates a biopharmaceuticals business which is engaged in the discovery, development, licensing, manufacturing, marketing, distribution, and sale of innovative medicines that help patients prevail over serious diseases. The company offers drugs for the treatment of lung cancer which include OPDIVO, and VePesid.
F. Hoffmann-La Roche Ltd
F. Hoffmann-La Roche Ltd has business operations in two segments such as pharmaceuticals, and diagnostics. The company's pharmaceuticals segment covers science, which can be used to create effective medicines to treat patients. The company's offerings in the lung cancer therapeutics market include ALECENSA, TECENTRIQ, AVASTIN, and TARCEVA.
Merck Co., Inc.
Merck Co., Inc. owns and operates businesses in various segments including pharmaceuticals, and animal health. The company offers human health pharmaceuticals and vaccine products through its pharmaceutical segment. Merck Co. offers KEYTRUDA, which is a PD-1 inhibitor approved for the treatment of NSCLC.
Novartis AG is one of the leading manufacturers of innovative medicines with two business units, namely Pharmaceuticals and Novartis Oncology. The company offers HYCAMTIN, ZYKADIA, and TAFINLAR, which are used for the treatment of lung cancer.
Pfizer Inc. owns and operates businesses in two segments including innovative health, and essential health. Through its innovative health segment, the company offers internal medicine, vaccines, oncology products, inflammation and immunology products, rare disease products, and consumer healthcare products. The company's product offerings include TOPOSAR, XALKORI, and VIZIMPRO.
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