North America Lung Cancer Therapy Market

The North America lung cancer therapy market was valued at US$ 15,105.92 million in 2022 and is expected to reach US$ 38,556.55 million by 2030; it is estimated to grow at a CAGR of 12.4% from 2022 to 2030.

Increase in Cases of Lung Cancer Drives North America Lung Cancer Therapy Market

Lung cancer is among the main causes of mortality across the world. This type of cancer can be treated more effectively if it is diagnosed early. Therefore, people at a high risk of lung cancer need to undergo routine testing to detect the formation of cancerous growth inside their lungs. Globally lung cancer is the most common cancer in men and the second most common cancer in women. According to the World Health Organization (WHO), lung cancer is the leading cause of cancer-related deaths globally, in both men and women. As per the World Cancer Research Fund International, ~2.2 million new lung cancer cases were registered worldwide in 2020. According to the American Cancer Society's estimates for lung cancer in the US, ~238,340 new lung cancer cases are likely to be registered in 2023, including 120,790 women and 117,550 men. According to estimates from the Canadian Cancer Society, 31,000 Canadians are expected to be diagnosed with lung and bronchus cancer. This will represent 13% of all new cancer cases in 2023. In addition, lung and bronchus cancer will result in the death of 20,600 Canadian citizens. Of all cancer-related deaths in 2023, this accounts for 24%. Thus, the rising incidence of lung cancer worldwide is contributing to the research and development activities for lung cancer therapy, which is, in turn, driving the market growth.

North America Lung Cancer Therapy Market Overview

The growth of the North America lung cancer therapy market in the US is mainly driven by the increasing incidence of lung cancer cases, product launches, and government initiatives. Lung cancer is the second most common cancer in the US. As per the American Cancer Society, Inc., as of 2023, ~238,340 adults (117,550 men and 120,790 women) in the US have been diagnosed with lung cancer; also, ~127,070 (67,160 in men and 59,910 in women) have succumbed to death due to the disease. Lung cancer accounts for 1 in 5 of all cancer deaths, making it a leading cause of cancer death in the US. As per the same source, NSCLC accounts for 81% of all lung cancer diagnoses. Thus, the increasing incidence of lung cancer in the country fuels the growth of the US lung cancer therapy market.

Various product launches for the treatment of lung cancer by companies are also bolstering the market growth. For instance, in May 2021, the US FDA approved Lumakras (sotorasib) as the first targeted therapy for adult non-small cell lung cancer patients. This is the first targeted therapy that is approved for tumors with KRAS mutation, which reports ~25% of mutations in non-small cell lung cancer (NSCLC). Moreover, in May 2021, the US FDA granted accelerated approval to amivantamab-vmjw (Rybrevant), a bispecific antibody directed against epidermal growth factor (EGF) and MET receptors, for adult patients with locally advanced or metastatic NSCLC that comprises EGFR exon 20 insertion mutations.

As per the report published in the whitehouse.gov, the official website of the White House, managed by the Office of Digital Strategy in May 2023, the Association of Community Cancer Centers (ACCC) and AstraZeneca entered into a partnership for the development and implementation of person-centered and sustainable approaches to drive lung cancer screening in rural America through "Rural Appalachian Lung Cancer Screening Initiative." The cancer mortality rate in the Appalachian region, including all of West Virginia and a few parts of 12 other states, is 10% higher than that of the rest of the US. This initiative aims to double the five-year survival rate for lung cancer. Such initiatives are contributing to the growth of the North America lung cancer therapy market in the US.

North America Lung Cancer Therapy Market Revenue and Forecast to 2030 (US$ Million)

North America Lung Cancer Therapy Market Segmentation

The North America lung cancer therapy market is segmented based on therapy type, indication, end user, and country.

Based on therapy type, the North America lung cancer therapy market is bifurcated into noninvasive and minimally invasive. The noninvasive segment held a larger share in 2022. The minimally invasive segment is further subsegmented into radiofrequency ablation, microwave ablation, thermal ablation, cryoablation, chemical ablation, photodynamic ablation, and others.

By indication, the North America lung cancer therapy market is bifurcated into non-small cell lung cancer and small cell lung cancer. The non-small cell lung cancer segment held a larger share in 2022.

By end user, the North America lung cancer therapy market is segmented into hospitals, oncology clinics, research centers, and others. The hospitals segment held the largest share in 2022.

Based on country, the North America lung cancer therapy market is segmented into the US, Canada, and Mexico. The US dominated the North America lung cancer therapy market in 2022.

Medtronic Plc, RF Medical Co Ltd, Johnson & Johnson, Merck KGaA, Sun Pharmaceutical Industries Ltd, Bioventus Inc, Olympus Corp, Meiji Seika Pharma Co Ltd, and Advanz Pharma Corp are some of the leading companies operating in the North America lung cancer therapy market.

North America Lung Cancer Therapy Strategic Insights

Strategic insights for the North America Lung Cancer Therapy provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

North America Lung Cancer Therapy Report Scope

North America Lung Cancer Therapy Regional Insights

The geographic scope of the North America Lung Cancer Therapy refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.