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Description
The global Lung Cancer Therapeutics Market was valued at USD 18,327.8 Million in 2020 and is anticipated to grow at USD 48,736.9 Million till 2027 recording a CAGR of 13.2% during the forecast period 2021-2027. Global lung cancer therapeutics market is growing at a significant CAGR over the forecast timeframe owing to increase in the R&D activities clinical trials for the innovation of new drugs and vaccines for the treatment of lung cancer. Increase in the prevalence of lung cancer (according to world cancer research fund international 2012, lung cancer was the most common cancer which contributes 13% share of the new cancer cases diagnosed) also propelling the market. Acquisitions & mergers, collaborations are the key strategies adopted by the players to gain revenue growth in lung cancer therapeutics market. For instance, in November 2015, Eli Lilly and Co. and Merck & Co., Inc. collaborated to evaluate the efficacy and safety of a combination of the Alimta and Keytruda under phase III trials for the treatment of non-small cell lung cancer. Moreover, in January 2016, VisionGate acquired a patent from University of Colorado for Iloprost used in the treatment of lung cancer. Similarly, In September 2014, Asterias Biotherapeutics collaborated with Cancer Research UK for the development of a vaccine for the treatment of non-small cell lung cancer. In April 2017, Takeda Pharmaceutical received an approval from FDA for Alunbrig (brigatinib) used in the treatment of ALK+ non-small cell lung cancer. In April 2017, AstraZeneca received approval from European Commission for the marketing authorization of Tagrisso used in the treatment of non-small cell lung cancer.
