Market Research Report
Attractions for Korean companies in the Global Lung Cancer Diagnostics and Therapeutics market in 2019-2020
|Published by||Bizwit Research & Consulting LLP||Product code||763614|
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|Attractions for Korean companies in the Global Lung Cancer Diagnostics and Therapeutics market in 2019-2020|
|Published: December 17, 2018||Content info:||
Japanese manufacturers have been focusing on the cancer segment since last few decades. USA remains the biggest market, globally. However, potential markets such as India, China, UK, Canada and few others cannot be ignored.
The report looks into the top 10 global cancer hospitals, gaps between the demand and supply of lung cancer diagnostics and therapeutics in major markets such as USA, Russia, Germany, UK, China, India and Australia. Diagnostic/ screening test are conducted to find abnormality, if any. Some of the common techniques are Imaging test; X-ray scan helps to find abnormal nodules and mass, while low-dose computed tomography (CT) scan reveals small lesion that might not be found in X-ray scan. Sputum cytology examines the sputum under microscope to detect cancer cells. Thoracentesis uses fine needle to remove fluid from the gap between the lung and the chest lining. This fluid is then viewed under a microscope to find cancer cells. Finally, Biopsy is one of the most recommended procedure to procure abnormal cells sample. The different ways of biopsy are; bronchoscopy, mediastinoscopy and fine-needle aspiration (FNA) biopsy.
Currently, only 16% of lung cancers are diagnosed while the tumor is still in its earliest stages of growth (localized). One of the reasons that could be the reason for low detection is that the conventional X rays are not able to detect them. The prognosis of lung cancer remains poor. Up to 85% of patients are diagnosed at an advanced stage. Despite all efforts at management, prognosis of lung cancer patients is unsatisfactory, with a median survival of ~1 year and a 5-year survival rate of only 16% and largely depends on the stage and age of the diagnosed patient. This makes the market attractive.
The opportunities in this market are based on therapeutic areas for Non small cell lung cancer (NSCLC) and SCLC and different therapeutics and their market share has been discussed. Targeted therapy market is estimated to grow at 8.28% CAGR from 2019-2025 and grow up to a size of 29.87 Billion USD. However, Lung cancer screening and diagnostic market is expected to grow faster at a CAGR at 14.87% in between 2019-2025, globally. With major companies entering into lung cancer market, it is one of the most attractive segments for investors in 2019.