The lung cancer therapeutics market has been forecast to increase at a compound annual growth rate (CAGR) of 13.26% through to 2016, driven by the significant growth of the lung cancer therapeutics in the US, along side the increase in the number of mergers and acquisitions.
Lung cancer is one of the most common types of cancers across the world, which not only increases mortality rates but also enhances the financial burden on the society.
The global market for lung cancer therapeutics is driven by factors such as line extensions for existing products, introduction of innovative products, and advancements in biotechnology.
Cytotoxics such as cisplatin, carboplatin, docetaxel (Taxotere), paclitaxel and gemcitabine (Gemzar) continue to dominate the lung cancer pharmaceuticals market, although targeted therapies have begun to create an impact on the market.
The lack of data proving the clinical efficacy of targeted drugs contributes to the continued use of cytotoxics for lung cancer treatment.
Tarceva is expected to continue its dominance in the global market for lung cancer therapeutics, while the approvals of Avastin, Erbitux, Zactima, as well as other novel therapies are expected to offer enhanced growth opportunities.
The US was the major contributor to this market; accounting for 67% of the total sales of lung cancer drugs in 2010.
Players are implementing various growth strategies in the market to gain a competitive edge. New product launches, product pipelines, agreements and collaborations, clinical trials, and acquisitions were some of the major strategies adopted by the players over the past five years.
Key players currently dominating the lung cancer therapeutics market include AstraZeneca plc, Bristol-Myers Squibb Co., Eli Lilly and Co., GlaxoSmithKline plc, Hoffmann-La Roche Ltd., and Novartis AG.
For more information on the lung cancer therapeutics market, see the latest research: Lung Cancer Therapeutics Market
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