Wellesley, MA (PRWEB) June 16, 2015
The lung cancer therapeutics and diagnostics market is plagued by the problem of increasing drug resistance to cancer drugs, BCC Research reveals in its new report. Non-small cell lung cancer (NSCLC), the most prevalent type of lung cancer, is intrinsically resistant to drugs. Small cell lung cancer (SCLC) tumors develop resistance to drugs over time with continued administration of the drug. As most lung cancers are diagnosed at a late stage, cancer cells have reached metastatic stage, which renders other treatment options such as surgery and radiation in applicable.
The global lung cancer market is expected to grow at a CAGR of 7.8% from 2014 to 2019, reaching $31.8 billion by end of the forecast period. Asia-Pacific is expected to be the largest and fastest-growing market owing to the rapidly developing healthcare infrastructure, increasing patient awareness levels and acceptance of technologically developed robotic surgeries in Japan and the emerging economies of India and China. The Asia-Pacific region should total almost $11.3 billion by 2019, with a CAGR of 8.5%.
Novel diagnostic and therapeutic products will drive global market growth. As of this report, over 130 drugs are in development for NSCLC and SCLC. More than 70% of the pipeline is composed of molecular targeted therapies (including therapeutic cancer vaccines). Key drug companies are working on various new molecules in collaboration with other companies or academic centers to study their effect on cancerous cells. However, the companies will find it difficult to penetrate the Asia-Pacific markets such as China and India due to issues of regulations and the high cost of their therapies.
The lung cancer market has high growth potential due to various unmet needs of proper therapies. One of the reasons for such a high mortality rate in lung cancer is late detection and diagnosis of the disease. Patients generally come in very late for diagnosis, so it is difficult to detect cancer early. Novel diagnostic and therapeutics are needed, like targeted therapies that identify specific mutated proteins. According to BCC Research analyst Vijay Laxmi, as a treatment option targeted therapies also may offer a solution to the problem of drug resistance.
“These are drugs that identify and target specific mutated proteins that are present only in tumors. Healthy non-cancerous cells do not possess these specific mutations; hence, targeted therapies can specifically target cancer cells, while leaving healthy tissue unharmed,” Laxmi explains. “This too is not a foolproof solution as cancerous cells keep evolving and develop new mutations. Therefore, scientists and drug companies need to find ways to prepare new drugs that will not cause resistance in tumor cells.”
Diagnostics and Therapeutics for Lung Cancer: Global Markets (PHM174A) This report discusses the global lung cancer market in terms of growth, size and opportunities. It also analyzes the market for diagnostics and therapeutics for lung cancer while focusing on regulations and reimbursements affecting diagnostics tests and drugs used in therapeutics.
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BCC Research publishes market research reports that make organizations worldwide more profitable with intelligence that drives smart business decisions. These reports cover today's major industrial and technology sectors, including emerging markets. For more than 40 years we've helped customers identify new market opportunities with accurate and reliable data and insight, including market sizing, forecasting, industry overviews, and identification of significant trends and key market participants. We partner with analysts who are experts in specific areas of industry and technology, providing unbiased measurements and assessments of global markets. Recently selected as the world’s greatest market research company, BCC Research is a unit of Eli Global, LLC. Visit our website at http://www.bccresearch.com. Contact us: (+1) 781-489-7301 (U.S. Eastern Time), or email firstname.lastname@example.org.