Lung cancer therapeutics market to grow by $10.52b until 2028

The targeted therapy segment is projected to witness significant market share growth within the forecast period.

The global market for lung cancer therapeutics is expected to grow by $10.52b until 2028 at a compound annual growth rate (CAGR) of 7.69%, according to Technavio.

The report revealed that the growth is driven by ongoing research and development efforts, and advanced technologies, including artificial intelligence (AI) and machine learning.

“Currently, chemotherapy, immunomodulators, and biological drugs are the primary treatments. Targeted therapies, such as immunomodulators, are effective but do not guarantee a cure,” The report said.

“To address the rising lung cancer prevalence, research is ongoing to develop regenerative therapies, including gene therapies,” It added.

By therapy, the targeted therapy segment is projected to witness significant market share growth within the period after being valued at $9.39b in 2018.

The segment’s growth is attributed to a rising prevalence of chronic diseases such as heart disease, stroke, lower respiratory infections, and diabetes, which are considered risk factors for lung cancer.