Pharmaceutical and biotech companies are investing significant amounts of money in R&D in this sector.
Current chemotherapeutic regimens provide poor survival benefits and the unmet clinical need among lung cancer patients is very high. The prognosis is very bleak since most patients are diagnosed with lung cancer at a late stage.
"Revenues of the European lung cancer therapeutics market will expand rapidly over the next five to seven years," notes Frost & Sullivan (pharma.frost.com) Research Analyst Ranjith Gopinathan. "The emergence of targeted therapies like Avastin will reinforce market expansion."
Globally, approximately 1.2 million people are diagnosed with lung cancer annually. It is one of the most common forms of cancer in Europe and has the highest mortality rate of all cancers.
"Drugs with enhanced survival benefits will achieve rapid penetration and command premium prices," adds Gopinathan. "Moreover, cancer drugs are easier to market, considering the target population of oncologists in Europe is limited."
However, the considerable number of generic drugs in chemotherapeutic regimens has led to substantial price erosion. Moreover, late-stage diagnosis lowers treatment options.
In addition, the deadlocked negotiations between companies and state health service providers on issues related to cost versus survival benefits are delaying the launch of targeted therapies. For instance, the introduction of Avastin for lung cancer indication has been delayed in the United Kingdom due to the cost versus survival benefit conundrum with the NHS.
"Considering the poor survival rates of lung cancer patients, even a slight improvement would lead to faster acceptance and penetration of the drug," concludes Gopinathan. "Hence, companies should focus on improving the survival rates for lung cancer patients with late stage of the disease."
If you are interested in a virtual brochure, which provides manufacturers, end users and other industry participants with an overview of the European Lung Cancer Therapeutics Markets, then send an email to Patrick Cairns, Corporate Communications, at pcairns_pr[.]frost.com, with your full name, company name, title, telephone number, company email address, company website, city, state and country. Upon receipt of the above information, an overview will be sent to you by email.
European Lung Cancer Therapeutics Markets is part of the Pharmaceutical and Biotechnology Growth Partnership Services Programme, which also includes research in the following markets: European Urinary Incontinence Therapeutics Markets, European Endometriosis Therapeutics Markets, Blockbusters Going Off-patent: Opportunities for Generics Manufacturers in Europe, European Osteoarthritis Market, European Head and Neck Cancer Therapeutics Markets, European Breast Cancer Therapeutics Markets and European Non-Hodgkin's Lymphoma Therapeutics Markets. All research included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants. Interviews with the press are available.
Frost & Sullivan, the Growth Partnership Company, partners with clients to accelerate their growth. The company's TEAM Research, Growth Consulting and Growth Team Membership™ empower clients to create a growth-focused culture that generates, evaluates and implements effective growth strategies. Frost & Sullivan employs over 45 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from more than 30 offices on six continents.
European Lung Cancer Therapeutics Markets - M20A