The advanced non-squamous and squamous NSCLC market mainly includes drugs used for the treatment of advanced or metastatic non-small cell lung cancer (NSCLC). NSCLC can be broadly classified into adenocarcinoma, squamous cell carcinoma and large cell carcinoma depending on histology. NSCLC drugs are characterized by better safety profiles and improved efficacy compared to traditional chemotherapy.
The global advanced non-squamous and squamous NSCLC market is estimated to be valued at US$ 10.89 Billion in 2024 and is expected to exhibit a CAGR of 7.0% over the forecast period 2024-2031.
Key Takeaways
Key players operating in the advanced non-squamous and squamous NSCLC market are AstraZeneca, Roche, Novartis, Pfizer, Bristol-Myers Squibb, Jiangsu Alphamab Biopharmaceuticals, Jiangsu HengRui Medicine.
The increasing incidence of lung cancer globally is driving the demand for advanced therapies. According to WHO, around 2.2 million new cases of lung cancer are reported annually across the globe. Furthermore, smoking continues to be the primary risk factor and is responsible for around 80-90% of lung cancer deaths.
The market players are actively exploring opportunities in emerging markets of Asia Pacific, Latin America and Middle East & Africa. Increasing healthcare expenditure, large patient pool and rising disposable income are some factors encouraging pharmaceutical companies to expand their geographic footprint in these regions.
Market key trends
Personalized medicines in NSCLC is a key trend gaining traction in the market. Advances in biomarker testing and companion diagnostics have enabled identification of specific mutations driving cancer growth. This allows selection of the most appropriate targeted therapy. Drugs like Tagrisso, Alecensa have demonstrated superior clinical outcomes in biomarker selected populations. Growing importance of liquid biopsy for non-invasive molecular profiling of tumors is also influencing development of personalized treatment strategies.
Porter's Analysis
Threat of new entrants: High capital requirements to enter the market and established brand names pose significant barriers for new competitors.
Bargaining power of buyers: There exists a significant bargaining power held by large hospitals, cancer research institutes and pharmaceutical retailers who negotiate discounts for high drug volumes.
Bargaining power of suppliers: Suppliers of innovative targeted therapies and diagnostic tools hold some power as biopharmaceutical companies rely on them for development of new treatment regimens.
Threat of new substitutes: Several new therapies targeting specific genetic mutations/biomarkers continue to be discovered and commercialized, offering substitutes.
Competitive rivalry: The non-small cell lung cancer market is fairly consolidated with key players differentiating through combination regimens and line extensions. Product differentiation and patents provide competitive advantage.
The advanced non-squamous and squamous NSCLC market is currently concentrated in North America, dominated by the United States owing to high healthcare expenditure and widespread health insurance coverage providing access to novel drugs.
The Asia Pacific region represents the fastest growing geographical segment for the advanced non-squamous and squamous NSCLC market between 2024-2031. This can be attributed to factors such as improving access to healthcare services, rising disposable incomes, growing medical tourism and increasing focus of leading pharmaceutical companies on emerging Asia Pacific markets.
What Are The Key Data Covered In This Advanced non-squamous and squamous NSCLC Market Report?
:- Market CAGR throughout the predicted period
:- Comprehensive information on the aspects that will drive the Advanced non-squamous and squamous NSCLC 's growth between 2024 and 2031.
:- Accurate calculation of the size of the Advanced non-squamous and squamous NSCLC and its contribution to the market, with emphasis on the parent market
:- Realistic forecasts of future trends and changes in consumer behaviour
:- Advanced non-squamous and squamous NSCLC Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa
:- A complete examination of the market's competitive landscape, as well as extensive information on vendors
:- Detailed examination of the factors that will impede the expansion of Advanced non-squamous and squamous NSCLC vendors
About Author:
Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191)
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it