PD1 Non-Small Cell Lung Cancer Treatment Market to reach US$ 61

PD1 Non-Small Cell Lung Cancer Treatment Market to reach US$ 61

PD1 Non-Small Cell Lung Cancer Treatment Market to reach US$ 61

PD1 Non-Small Cell Lung Cancer Treatment Market

According to a recent study published by Future Market Insights, the PD1 non-small cell lung cancer treatment market is slated to reach a valuation of US$ 26.96 Billion in 2023, and will further increase to US$ 61 Billion, registering a CAGR of 8.51% from 2023 to 2033. Rising prevalence of non-small cell lung cancer is anticipated to drive market growth during the forecast period.

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The increasing prevalence of cancer is the key factor for the growth of PD-1 non-small cell lung cancer treatment market along with the technological innovations and advancements in cancer screening procedures that are expected to surge market growth. In addition, increased public awareness, greater government initiatives to fight cancer, and rising healthcare expenses are expected to boost the market ahead.

High efficacy and superior treatment outcome-based PD-1/PD-L1 inhibitors are on high demand in severe cancer treatments. In addition, extended indications of existing immunotherapies are expected to create huge demand for the cancer treatments and offer new growth opportunity in the market. Recent approvals of new drugs are expected to augment market growth during the forecast period. In February 2022, the Medicines and Healthcare Products Regulatory Agency (MHRA) approved Genentech’s Tecentriq to treat early-stage non-small cell lung cancer.

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Similarly, in October 2021, the United States Food and Drug Administration (USFDA) approved atezolizumab (Tecentriq, Genentech, Inc.) in the United States for stage II and IIIA non-small cell lung cancer patients. In March 2021, the FDA approved Pfizer’s Lorbrena (lorlatinib) to treat ALK-positive NSCLC patients in the United States.

Additionally, in October 2021, Ventana Medical Systems, Inc. received United States FDA approval for VENTANA PD-L1 (SP263) Assay as a companion diagnostic device to select patients for Tecentriq. Hence, recent new drug approvals and the launch of companion diagnostics to select targeted patients are responsible for the growth of the market during the forecast period.

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Key Takeaways from the Market Study

North America is expected to dominate the market with a market share of 42% during the forecast period.
South Asia is estimated to reflect highest CAGR of 8% during the forecast period.
The product demand in China will witness a CAGR of 13.7% by 2033.
By treatment type, targeted therapy is projected to rule the market with an estimated valuation of US$ 31.7 Billion by end of the forecast period.
By distribution channel, Hospital segment will grow with CAGR of 12% during the period of assessment.

Fast approval of new drugs and launch of companion diagnostics will propel the demand for PD1 Non-small cell lung cancer treatment- comments an FMI Analyst

Competitive Landscape

The market is fragmented and moderately competitive. The strategies like mergers and acquisitions adopted by major market players will boost market growth. The major players in the market are: Merck Co. & Inc., Bristol-Myers Squibb, F. Hoffmann-La Roche AG, AstraZeneca Plc, Pfizer Inc., Merck KGaA, Novartis AG, GlaxoSmithKline plc., Takeda Pharmaceutical Company Limited, Eli Lilly and Company, Sanofi, and Agennix AG.

Some recent developments in this industry are:

In January 2021, The Lung Ambition Alliance, which is a global coalition with the bold ambition to eliminate lung cancer as a cause of death, started The Initiatives in Lung Cancer Care (ILC2) program. The aim of the program is to fund projects that drive measurable improvements across the patient journey, from early detection to palliative care or survivorship.
In August 2022, the Food and Drug Administration granted regular approval to capmatinib (Tabrecta, Novartis Pharmaceuticals Corp.) for adult patients with metastatic non-small cell lung cancer (NSCLC) whose tumors have a mutation leading to mesenchymal-epithelial transition (MET) exon 14 skipping, as detected by an FDA-approved test.
In March 2022, Regeneron and BioNTech expanded their collaboration agreement for the development of Libtayo and FixVac (cemiplimab) Combination to treat advanced NSCLC.
In 2021, Daiichi Sankyo received FDA approval for adult patients with locally advanced or metastatic HER2-positive gastric or gastroesophageal (GEJ) adenocarcinoma.

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More Valuable Insights Available

Future Market Insights offers an unbiased analysis of the global PD1 Non-small cell lung cancer treatment market, providing historical data for 2018-2022 and forecast statistics from 2023-2033.

To understand opportunities in the PD1 Non-small cell lung cancer treatment market, the market is segmented on the basis drug type (Nivolumab, Pembrolizumab, Atezolizumab, Avelumab, Durvalumab) By Cancer type (Squamous cell carcinoma, Adenocarcinoma, Large cell carcinoma) By treatment (Chemotherapy, targeted therapy, immunotherapy, others) By distribution channel (Hospital pharmacies, Retail pharmacies, Online Pharmacies) By region ( North America, Latin America, Europe, South Asia, East Asia, Oceania, MEA)

Digitization in the healthcare sector has revamped the ultrasound systems market. The advancements in different spheres of the industry has benefited not just the patients but the market too, as the demand for medical examination has surged over the past decade. A new market research report by Future Market Insights, revolves around an in-depth and an all-inclusive analysis of Global Ultrasound Systems Market, reveals a strong growth of the market due to upgraded services provided to the patients and also the easier approach to the internal body examination witnessed with the usage of ultrasound systems.

According to the outcomes of global forecast mentioned in the report titled ‘Ultrasound Systems Market – Global Industry Analysis 2012 – 2021 and Opportunity Assessment 2022 – 2028’, the global ultrasound systems market is expected to reach a market value of over US$ 13.2 Bn by the end of 2028, growing at an impressive CAGR of 5.5% during the forecast period.

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Hospitals to hold largest share in Ultrasound Systems Market with highest demand for application in Radiology

Hospitals shift toward more value-oriented products, they need to operate more efficiently and productively. Similarly, a quality shift has occurred with patients, who more proactively involved in their care. Trends from the shift to value-based care include data integration and population health management. An influx of data combined with advancements in imaging helps leverage these data to not only bring further value but also apply it to broader populations. Along with the clearer and high definition pictures that are a part of ultrasound systems, there has also been an introduction to the portable machines. These are the more handy and easy to move form of ultrasound systems that have come into existence not long ago. Although the developed nations are already familiar with the technology, the market may find a higher prospects of growth in the developing regions. The market analysis has shown that hospitals hold the highest market share in the Global Ultrasound Systems Market, however diagnostics imaging and surgical centers are expected to raise a higher demand for the systems in the coming years. In terms of application the market is also dominated by Radiology as the key application area for ultrasound systems and is expected to continue growing further at a CAGR of 6.3% during the forecast period, as analyzed by FMI.

Favourable Government Policies to Benefit Start-up Companies and Independent diagnostic centers

As a move to encourage start-up companies, government of various regions like Asia Pacific and MEA have bolstered the initiatives to support the new start-ups who are entering the healthcare and medical device industry. It includes exemption of taxes for the first three years, subsidizing patent protection cost etc. The move is intended to boost the overall market for medical devices. Specifically the medical imaging market has also taken an independent position in the global market. With the betterment in services and advanced facilities related to ultrasound or any other imaging techniques, the global market is expected to witness a higher volume of independent imaging centers. The companies have also independently introduced handy and user-friendly devices in the market. GE, Philips, Samsung, Fukuda, Mindray, Hitachi, Toshiba, and Siemens, all these companies offer their own particular models.

The coming years will showcase more advanced ultrasound systems, which will provide an image clearer than 3D or 4D pictures.

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Key Market Segments Covered in Ultrasound systems Market Research

By Modality:

Cart/Trolley Based
Compact/Hand Held
By Application:

Obstetrics & Gynaecology
By End User:

Hospitals & Clinics
Diagnostic Imaging & Surgical Centers
About FMI:

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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About FMI:

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

This release was published on openPR.

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