(MENAFN- America News Hour) In a recent published report, Kenneth Research has updated the market report for Non-Small Cell Lung Cancer Treatment Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Non-Small Cell Lung Cancer Treatment Market products.
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Kenneth Research has recently added a report titled Non-Small Cell Lung Cancer Treatment Market in its storehouse of market research reports. The report provides a detailed insight into the market scenario on the basis of the market size and volume for the forecast period, i.e., 2021 2030. Factors such as the growing advancements in the development of novel drugs, coupled with the growing health infrastructure in several nations worldwide are anticipated to drive the growth of the market in the coming years. Moreover, increasing expenditure on healthcare, backed by the need amongst individuals for quality healthcare services, is also anticipated to contribute to the market growth.
According to the statistics by the World Bank, the current health expenditure (% of GDP) around the world increased from 9.08% in 2001 to 9.84% in 2018. Additionally, the current health expenditure per capita (current US$) increased from USD 492.99 in 2001 to USD 1110.84 in 2018. Moreover, growing concern for deaths caused due to various diseases and the need for treatment that can lower the crude death rate, which in the year 2019 recorded close to 7% (per 1000 people), are also anticipated to drive the market growth during the forecast period.
Non-Small Cell Lung Cancer Treatment Market: Introduction
Lung cancer can be differentiated into two types of small cell lung cancer (SCLC) and non-small cell lung cancer (NSCLC). Lung cancer is the uncontrolled growth of various cells in lung tissues. Majority of the lung cancer cases observed are NSCLC.
Some of the common symptoms of non-small lung cancer include wheezing, chest pain, hoarseness, weight loss, coughing up blood, loss of appetite, recurring bronchitis, shortness of breath, fatigue, etc. Rising incidences of lung cancer cases caused due to air pollution due to the inhalation of harmful metals (cadmium, radon, asbestos), smoking, HIV infection, and rapid population growth are some of the factors driving the non-small cell lung cancer therapeutics market over the projected period.
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Market Dynamics
Global non-small cell lung cancer treatment market will witness robust growth primarily owing to increasing disease awareness among the population across the globe. Favorable government regulations to reduce the cancer incidences, such as smoking control regulations, etc. will act as another significant factor driving the global market over the projected period. Moreover, rapid approvals of various drugs such as Fluorouracil, Carboplatin, etc. for treating non-small cell lung cancer will further trigger the market growth.
Despite the efficiency of various targeted therapies, most of the drugs used for treatment are in their early-stage process. Stringent regulations regarding their clinical trials and approvals will increase the commercialization process.
This will act as a significant restraining factor for the growth of non-small cell lung cancer treatment market over the coming years. Moreover, increased resistance to targeted therapies will further cause some restriction for the growth of global non-small cell lung cancer treatment market until the end of the projected period.
By Treatment Type
Based on treatment, the global non-small cell lung cancer treatment market has been segmented into surgery, chemotherapy, targeted therapy, and radiation therapy. Surgery is majorly preferred for treating patients in their first two phases. This include lobectomy, pneumonectomy, and wedge resection.
Chemotherapy is preferred for a substantial number of lung cancer patients. According to the guidelines by the American Society for Clinical Oncology (ASCO), the use of platinum combination therapy must be preferred for treatment in the first phase of non-small cell lung cancer treatment.
For chemotherapy, carboplatin and cisplatin are used as per the approvals from the U.S. FDA. Radiation treatment is used in stage one and stage two treatments of non-small cell lung cancer, in the case where surgical procedures are not preferable or ineffective. This therapy uses various beta blockers for disease-free patient survival.
Regional Insights
Huge presence of developed healthcare infrastructure in North America will help the regional market to lead at the global level. Favorable insurance policies, such as reimbursement of the majority of medical treatments, coupled with the presence of key research facilities and regulatory bodies such as the U.S. FDA will help the North America non-small cell lung cancer market to hold the dominant share over the projected period.
Moreover, increasing cancer incidences in the U.S. will further help the market to grow over the coming years. For instance, estimated cancer incidences in the U.S. in 2018 might reach 1.74 million, while 0.61 million people are expected to die due to cancer, according to the National Institute of Health.
Asia Pacific non-small cell lung cancer treatment market is anticipated to grow at a prime CAGR in the coming future. Increasing incidences of various cancers, coupled with huge unmet medical needs, will likely provide a way for improving the adoption of non-small cell lung cancer treatments at a rapid rate.
Rise in government initiatives in the developing economies such as China and India to enhance the current awareness regarding this disease among the consumers will further propel the Asia Pacific non-small cell lung cancer treatment market substantially till the end of 2025.
Competitive Landscape
Global non-small cell lung cancer treatment market consists of some competitive and highly fragmented market participants. GlaxoSmithKline PLC, Genentech Inc., Astra Zeneca PLC, Pfizer Inc., Eli Lilly & Co., Celgene Corp., Sun Pharmaceutical Industries Ltd., Bristol-Myers Squibb, and Boehringer Ingelheim are some key players in this market.
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Several key players in this market are highly improving their research and development activities in order to increase their drug approval rates. For instance, in August 2018, Merck received an approval from the U.S. FDA for Keytruda-chemotherapy combination for treating non-squamous non-small cell lung cancer. This treatment can be used as first-line treatment for patients suffering from metastatic non-squamous non-small cell lung cancer.
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Darlene Dooley
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