At 10.3% CAGR, the Middle East & Africa Lung Cancer Therapy Market is Projected to be Worth US$ 2,116.99 Million by 2030, Says Business Market Insights
According to Business Market Insights research, the Middle East & Africa lung cancer therapy market was valued at US$ 964.67 million in 2022 and is expected to reach US$ 2,116.99 million by 2030, registering a CAGR of 10.3% from 2022 to 2030. Growing demand for targeted therapy and increase in cases of lung cancer are among the critical factors attributed to the Middle East & Africa lung cancer therapy market expansion.
Targeted therapy, a type of personalized medicine, is a combination of two or more drugs, designed to directly target the cancerous cells. Therapies such as ablation and chemotherapy destroy healthy cells along with infected cells, which can affect the overall patient condition. Targeted therapy is designed in a way to selectively kill cancerous cells, keeping the function of healthy cells unhampered. With recent developments in medical technologies, focus on the use of targeted therapy for the treatment of lung cancer is increasing notably. Scientists are focusing on studying lung cancer cell mutations that are responsible for driving the uncontrolled growth of cancerous cells. The companies are using biomarkers such as EGFR, ALK, ROS1, and KRAS to develop targeted therapies, which help detect the type of mutation in the cancerous cells. Thus, the increasing focus of companies on the development of targeted therapies, coupled with the growing awareness about their benefits to lung cancer patients, is expected to bring new trends in the lung cancer therapy market in the coming years.
On the contrary, high cost of lung cancer therapy hampers the growth of Middle East & Africa lung cancer therapy market.
Based on therapy type, the Middle East & Africa lung cancer therapy market is bifurcated into noninvasive and minimally invasive. The noninvasive segment held 81.3% share of the Middle East & Africa lung cancer therapy market in 2022, amassing US$ 784.27 million. It is projected to garner US$ 1,693.97 million by 2030 to expand at 10.1% CAGR during 2022-2030. The minimally invasive segment is further subsegmented into radiofrequency ablation, microwave ablation, thermal ablation, cryoablation, chemical ablation, photodynamic ablation, and others.
By indication, the Middle East & Africa lung cancer therapy market is bifurcated into non-small cell lung cancer and small cell lung cancer. The non-small cell lung cancer segment held 88.2% share of the Middle East & Africa lung cancer therapy market in 2022, amassing US$ 850.87 million. It is projected to garner US$ 1,884.27 million by 2030 to expand at 10.4% CAGR during 2022-2030.
By end user, the Middle East & Africa lung cancer therapy market is segmented into hospitals, oncology clinics, research centers, and others. The hospitals segment held 49.4% share of the Middle East & Africa lung cancer therapy market in 2022, amassing US 476.79 million. It is projected to garner US$ 1,020.80 million by 2030 to expand at 10.0% CAGR during 2022-2030.
Based on country, the Middle East & Africa lung cancer therapy market is segmented into Saudi Arabia, South Africa, the UAE, and the Rest of Middle East & Africa. Saudi Arabia held 29.6% share of Middle East & Africa lung cancer therapy market in 2022, amassing US$ 285.83 million. It is projected to garner US$ 605.25 million by 2030 to expand at 9.8% CAGR during 2022-2030.
Key players operating in the Middle East & Africa lung cancer therapy market are Bioventus Inc, Johnson & Johnson, Medtronic Plc, Merck KGaA, Olympus Corp, RF Medical Co Ltd, and Sun Pharmaceutical Industries Ltd, among others.
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