Global Lung Cancer Therapeutics Market Outlook, 2031

The global lung cancer therapeutics industry covers medicines used to treat lung cancer, the leading cause of cancer death worldwide, responsible for about 1.8 million deaths a year according to the International Agency for Research on Cancer. About 85% of cases are non-small cell lung cancer, including adenocarcinoma and squamous cell carcinoma, and about 15% are small cell lung cancer. Treatment has been transformed by targeted therapies for tumours with specific genetic alterations and by immunotherapy. Targeted drugs include EGFR inhibitors such as AstraZeneca's Tagrisso and Johnson & Johnson's Lazcluze; ALK inhibitors such as Pfizer's Lorbrena, Roche's Alecensa and Takeda's Alunbrig; drugs targeting ROS1, KRAS G12C, BRAF, MET, RET, NTRK and HER2; and bispecific antibodies such as Johnson & Johnson's Rybrevant. Immune checkpoint inhibitors, led by Merck's Keytruda, Bristol Myers Squibb's Opdivo, Roche's Tecentriq and AstraZeneca's Imfinzi, are used across early and advanced disease. Antibody-drug conjugates such as AstraZeneca and Daiichi Sankyo's Datroway and Enhertu, and bispecific T-cell engagers such as Amgen's Imdelltra for small cell lung cancer, represent newer classes. Chemotherapy remains widely used. Other important companies include Novartis, Lilly, Boehringer Ingelheim, Regeneron, BeiGene, Hengrui, Innovent, Akeso and its partner Summit Therapeutics.

Lung cancer treatment has advanced rapidly since 2020, particularly in earlier stages of disease. Immunotherapy and targeted therapy moved into early-stage lung cancer, with Tagrisso approved as adjuvant treatment after surgery for EGFR-mutated tumours, Alecensa for ALK-positive tumours in 2024, and perioperative immunotherapy regimens combining treatment before and after surgery approved for Keytruda, Opdivo and Imfinzi. In advanced EGFR-mutated disease, Johnson & Johnson's combination of Rybrevant and Lazcluze was approved in August 2024, and AstraZeneca extended Tagrisso's use with chemotherapy. New targeted drugs reached patients in 2025, including Boehringer Ingelheim's zongertinib for HER2-mutated lung cancer and Dizal's sunvozertinib for EGFR exon 20 insertion mutations, and Datroway was approved in June 2025 for previously treated EGFR-mutated lung cancer. Amgen's Imdelltra, approved in May 2024, became the first bispecific T-cell engager for small cell lung cancer. Merck's subcutaneous Keytruda Qlex was approved in September 2025 ahead of Keytruda's patent expiry later in the decade. The most closely watched new class is PD-1 and VEGF bispecific antibodies, led by Akeso and Summit's ivonescimab, which outperformed Keytruda in a Chinese trial in 2024 and has a US regulatory decision due in November 2026 for EGFR-mutated disease, prompting large licensing deals for similar drugs by Pfizer, Merck and Bristol Myers Squibb.

Market Dynamics Market Drivers • High Incidence and Rising DetectionLung cancer is the most commonly diagnosed cancer worldwide, with about 2.5 million new cases a year, driven by smoking, air pollution and ageing populations. Lung cancer among non-smokers, particularly women in Asia, is increasingly recognised. Low-dose CT screening programmes in the United States, the UK, China, South Korea and Taiwan detect more cancers at early stages, increasing the number of patients eligible for surgery and adjuvant or perioperative drug treatment.
• Precision Oncology and Immunotherapy InnovationGenomic testing identifies actionable mutations in a large share of non-small cell lung cancers, particularly adenocarcinomas, allowing treatment with targeted drugs that extend survival. Immunotherapy has become standard for most patients without targetable mutations. New drug classes, including antibody-drug conjugates, bispecific antibodies and new-generation targeted therapies, continue to improve outcomes and expand the number of treatment lines, increasing the value of the market.

Market Challenges • Drug Resistance and Limited Benefit for Some PatientsMost patients with advanced lung cancer eventually develop resistance to targeted therapies and immunotherapy, and treatment options after progression are limited. Many patients do not benefit from immunotherapy, and small cell lung cancer remains highly lethal despite recent advances. Side effects, including pneumonitis, immune-related toxicities and interstitial lung disease with some antibody-drug conjugates, require careful management.
• High Costs and Unequal Access to Testing and TreatmentTargeted drugs and immunotherapies cost more than USD 100,000 a year in the United States, and combination regimens add to costs. Many patients, particularly in low- and middle-income countries, do not receive genomic testing or access to modern treatments. Patent expiries, including for Keytruda and Opdivo later in the decade, and price negotiation under the US Inflation Reduction Act are expected to reduce revenue from major brands.

Market Trends • PD-1/VEGF Bispecific Antibodies and Next-Generation ImmunotherapyBispecific antibodies that block both PD-1 and VEGF, such as ivonescimab, have shown promising results and prompted major deals, including Pfizer's licensing of a PD-1/VEGF bispecific from 3SBio and Bristol Myers Squibb's partnership with BioNTech in 2025. Companies are testing these drugs against Keytruda in first-line lung cancer. Subcutaneous checkpoint inhibitors, such as Keytruda Qlex and Tecentriq Hybreza, are also changing how immunotherapy is delivered.
• Antibody-Drug Conjugates and Treatment in Earlier StagesAntibody-drug conjugates targeting TROP2, HER2, HER3, c-Met and B7-H3 are being developed across lung cancer, with Datroway and Enhertu approved in specific settings and many others in trials. Targeted therapies and immunotherapy continue to move into early-stage disease, both before and after surgery, and circulating tumour DNA testing is being studied to decide who needs treatment after surgery. Combinations of targeted drugs and chemotherapy are becoming first-line standards for some mutations.



Segment Analysis Immunotherapy and targeted therapy account for the largest share of lung cancer drug value, while antibody-drug conjugates and bispecific antibodies are the fastest-growing drug classes. Immune checkpoint inhibitors, including pembrolizumab, nivolumab, atezolizumab, durvalumab and cemiplimab, together with CTLA-4 inhibitors such as ipilimumab and tremelimumab, generate the largest share of lung cancer drug revenue, with Keytruda the world's best-selling medicine. They are used in first-line advanced disease, after chemotherapy and radiation in stage III disease, and before and after surgery in early disease. Targeted therapies, including EGFR inhibitors such as osimertinib and lazertinib, ALK inhibitors such as alectinib, lorlatinib and brigatinib, ROS1 inhibitors such as repotrectinib, KRAS G12C inhibitors such as sotorasib and adagrasib, MET inhibitors, RET inhibitors, BRAF and MEK inhibitors, NTRK inhibitors and HER2-targeted drugs such as zongertinib, form the second largest category and are standard for tumours with these alterations. Bispecific antibodies, including amivantamab targeting EGFR and MET and tarlatamab targeting DLL3 in small cell lung cancer, are growing rapidly, with PD-1/VEGF bispecifics in late development. Antibody-drug conjugates, including datopotamab deruxtecan and trastuzumab deruxtecan, are approved for specific groups and in many trials. Chemotherapy, including platinum drugs, pemetrexed, taxanes and etoposide, remains part of many regimens. Anti-angiogenic drugs such as bevacizumab and ramucirumab are used in some combinations.

Non-small cell lung cancer accounts for the vast majority of lung cancer drug value, while small cell lung cancer is a smaller segment that has begun to benefit from new therapies. Non-small cell lung cancer accounts for about 85% of lung cancer cases and most drug spending. Adenocarcinoma, the most common subtype, often carries actionable mutations such as EGFR, ALK, KRAS, ROS1, MET, RET, BRAF and HER2, making it the main market for targeted therapies, while squamous cell carcinoma rarely has targetable mutations and is treated mainly with immunotherapy and chemotherapy. EGFR-mutated lung cancer, which is especially common in East Asian patients and non-smokers, is one of the most valuable segments, with Tagrisso, Rybrevant and Lazcluze and newer agents. ALK-positive lung cancer patients often live many years on successive ALK inhibitors. Patients without actionable mutations receive immunotherapy with or without chemotherapy, depending on PD-L1 levels. Small cell lung cancer accounts for about 15% of cases, grows rapidly and is usually diagnosed at an advanced stage; it is treated with chemotherapy and immunotherapy, and tarlatamab, lurbinectedin and serplulimab have added options. By stage, early-stage disease treated with surgery and adjuvant or perioperative therapy is a growing segment, stage III disease is treated with chemoradiation followed by durvalumab or osimertinib, and advanced disease accounts for most drug spending.

Intravenous therapies account for the largest share of lung cancer drug value because of infused immunotherapy and chemotherapy, while oral targeted therapies represent a large and growing segment and subcutaneous formulations are expanding. Intravenous infusions are used for immune checkpoint inhibitors, chemotherapy, antibody-drug conjugates, bispecific antibodies such as amivantamab and tarlatamab, and anti-angiogenic antibodies, administered in hospitals, cancer centres and infusion clinics every one to six weeks. Oral targeted therapies, including EGFR, ALK, ROS1, KRAS, MET, RET, BRAF and HER2 inhibitors, are taken daily at home, often for years, and account for a large share of revenue. Subcutaneous formulations are increasingly available, including subcutaneous atezolizumab approved in 2024, subcutaneous pembrolizumab approved in September 2025 and subcutaneous amivantamab, reducing administration time from hours to minutes and freeing infusion capacity. Subcutaneous versions also help companies extend product life ahead of patent expiry. Radiotherapy, although not a drug, is often combined with drug treatment. Supportive care drugs, including antiemetics, growth factors and bone-strengthening agents, are given by various routes. The balance between intravenous and subcutaneous delivery of immunotherapy is expected to shift significantly over the forecast period as subcutaneous versions gain adoption.

Hospital pharmacies and cancer centres account for most lung cancer drug value, while specialty pharmacies distribute a large share of oral targeted therapies. Hospital pharmacies and cancer centres supply intravenous immunotherapy, chemotherapy, antibody-drug conjugates and bispecific antibodies, and they coordinate multidisciplinary care including surgery, radiotherapy and drug treatment. Large academic centres run many clinical trials that give patients access to investigational drugs. Community oncology practices in the United States administer many treatments and prescribe oral therapies, sometimes through in-house medically integrated pharmacies. Specialty pharmacies dispense oral targeted drugs, managing insurance approvals, patient education and adherence monitoring. Retail pharmacies play a smaller role, mainly for supportive medications. Molecular testing laboratories, including companies such as Foundation Medicine, Guardant Health and Caris, are closely linked to treatment choice because testing determines eligibility for targeted drugs. In Europe, hospitals supply most cancer drugs through national procurement and reimbursement systems. In China, national reimbursement negotiations have greatly expanded access to targeted therapies and domestic PD-1 inhibitors at lower prices. Patient assistance programmes and access schemes support patients who cannot afford treatment in low- and middle-income countries.

Regional Analysis North America leads the lung cancer therapeutics market because of high drug prices, broad use of immunotherapy and targeted therapies, and early adoption of new treatments, while Asia-Pacific has the largest number of patients and is the fastest-growing region. North America, led by the United States, accounts for the largest share of lung cancer drug revenue. The United States has high rates of genomic testing, broad use of immunotherapy and rapid adoption of new approvals, and the FDA approved several lung cancer drugs between 2024 and 2025, including Rybrevant with Lazcluze, Imdelltra, Datroway for EGFR-mutated disease, zongertinib, sunvozertinib and subcutaneous Keytruda. Lung cancer screening with low-dose CT is recommended for high-risk adults but uptake remains low. Keytruda and Opdivo patent expiries later in the decade and Medicare price negotiation are expected to change the market. Canada has similar treatment patterns with lower prices. Europe is the second largest market, with high use of immunotherapy and targeted therapy, national lung cancer screening programmes being introduced in the UK, Croatia, Poland and other countries, and health technology assessment affecting access to new drugs. Asia-Pacific has the largest number of lung cancer patients, driven by high smoking rates and air pollution in China and a high share of EGFR-mutated cancers in East Asian patients. China is the largest lung cancer market by patients and has a strong domestic industry, with companies such as Hengrui, Innovent, BeiGene, Junshi and Akeso developing PD-1 inhibitors, bispecifics and targeted drugs, and ivonescimab was approved in China in 2024. Japan, South Korea and Taiwan have high use of targeted therapies. India has a growing lung cancer burden with limited access to advanced drugs. Latin America, the Middle East and Africa face rising incidence, with access to immunotherapy and targeted therapy limited mainly to private and urban hospitals.

Key Developments January 2026: The FDA accepted Summit Therapeutics' application for ivonescimab with chemotherapy in EGFR-mutated non-small cell lung cancer after targeted therapy, with a decision date of November 2026.
September 2025: Merck's subcutaneous pembrolizumab was approved across Keytruda's solid tumour indications, including lung cancer, reducing administration time compared with intravenous infusion.
August 2025: Boehringer Ingelheim's Hernexeos became an oral targeted therapy for previously treated non-small cell lung cancer with HER2 mutations.
June 2025: AstraZeneca and Daiichi Sankyo's datopotamab deruxtecan received accelerated approval for previously treated EGFR-mutated non-small cell lung cancer.
August 2024: Johnson & Johnson's amivantamab plus lazertinib was approved as a first-line chemotherapy-free treatment for EGFR-mutated advanced non-small cell lung cancer.
May 2024: Amgen's tarlatamab became the first bispecific T-cell engager approved for extensive-stage small cell lung cancer after chemotherapy.

Considered in this report
• Historic Year: 2020
• Base Year: 2025
• Estimated Year: 2026
• Forecast Year: 2031

Aspects covered in this report
• Global Lung Cancer Therapeutics Market with its value and forecast along with its segments
• Various drivers and challenges
• Ongoing trends and developments
• Top profiled companies
• Strategic recommendation

By Drug Class
• Immune Checkpoint Inhibitors
• Targeted Therapies
• Antibody-Drug Conjugates
• Bispecific Antibodies
• Chemotherapy
• Anti-Angiogenic Agents

By Cancer Type
• Non-Small Cell Lung Cancer
• Small Cell Lung Cancer

By Route of Administration
• Intravenous
• Oral
• Subcutaneous

By Distribution Channel
• Hospital Pharmacies and Cancer Centres
• Specialty Pharmacies
• Retail Pharmacies
• Online Pharmacies