Global Non-Small Cell Lung Cancer Drugs Market 2019-2023
About this market
The increasing prevalence and incidence of non-small cell lung cancer are one of the primary factors driving the global non-small cell lung cancer drugs market growth. The growing risk factors such as cigarette smoking, air pollution, secondary smoking, and occupational exposure is increasing the incidence of non-small cell lung cancer across the world. This will lead to an increase in the demand for non-small cell lung cancer drugs. Technavio’s analysts have predicted that the non-small cell lung cancer drugs market will register a CAGR of over 13% by 2023.
Strong drug pipeline and recent drug approvals
One of the growth drivers of the global non-small cell lung cancer drugs market is the strong drug pipeline and recent drug approvals. The development of new drugs and their approvals are helpful for the treatment of non-small lung cancer, which is expected to drive the market during the forecast period.
The high cost of treatment
One of the challenges in the growth of global non-small cell lung cancer drugs market is the high cost of treatment. Non-small cell lung cancer can be treated by surgery, chemotherapy, radiation therapy, targeted therapies, and immunotherapy which is very costly. Therefore, the high cost of treatment for non-small cell lung cancer will hamper the growth of the market during the forecast period.
For the detailed list of factors that will drive and challenge the growth of the non-small cell lung cancer drugs market during the 2019-2023, view our report.
The market appears to be moderately fragmented and with the presence of several vendors. The vendors in the market are using predictive biomarkers for the development of cost-effective therapies with improved clinical benefits. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market’s competitive landscape and offering information on the products offered by companies.
Technavio Announces the Publication of its Research Report – Global Non-small cell lung cancer drugs Market 2019-2023
Technavio recognizes the following companies as the key players in the global non-small cell lung cancer drugs market: AstraZeneca, Bristol-Myers Squibb Company, Eli Lilly and Company, F. Hoffmann-La Roche Ltd, and Merck & Co., Inc.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is the use of predictive biomarkers for the development of cost-effective therapies.”
According to the report, one of the major drivers for this market is the strong drug pipeline and recent drug approvals.
Further, the report states that one of the major factors hindering the growth of this market is the side-effects of drugs.
Bristol-Myers Squibb Company
Eli Lilly and Company
F. Hoffmann-La Roche Ltd
Merck & Co., Inc.
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