European lung cancer therapeutics market growing

Revenues in the European lung cancer therapeutics market are set to grow at an accelerated pace due to the anticipated launch of products currently in Phase III of development and the recent introduction of targeted therapies.

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.

According to Frost & Sullivan research analyst Ranjith Gopinathan, revenues of the European lung cancer therapeutics market are expected to expand rapidly over the next five to seven years.

He said: "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," said 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 UK 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," said Gopinathan. "Hence, companies should focus on improving the survival rates for lung cancer patients with late stage of the disease."