Report Overview

The South Korea lung cancer market size stood at around USD xx billion in 2019 and is projected to reach xx billion by 2028, exhibiting a CAGR of around 7.6% during the forecast period.

Lung cancer is a type of cancer which decreases the efficiency of lungs to supply oxygen to the bloodstream. This is one of the most common forms of cancers which accounts for the highest mortality rates. Cigarette smoking is the principal risk factor for the development of lung cancer. Prolonged exposure to tobacco smoke can also cause lung cancer. According to the estimates of GLOBOCAN, South Korea had 28,651 new cases of lung cancer in 2020 and highest death rate of 23.1% of all other cancer sites.



Market Drivers

Incidence rate of lung cancer in South Korea according to GLOBOCAN was 12.4% (second highest) in 2020. High incidence rate is one of the propelling factor for the market growth.

The US Food and Drug Administration (FDA) is implementing an accelerated approval system that shortens clinical trials for serious diseases. This system establishes clinical proxy indicators that have a strong causal relationship with the treatment of diseases and grants approval if they are met. Currently, there are 16 indications for accelerated approval and 28 clinical surrogate indicators have been established. Of these, 12 are anticancer drugs, and 6 are solid cancers that include non-small cell lung cancer. As such, regulatory agencies are providing incentives for the development of anticancer drugs, so anticancer drug research is expected to expand further and drive the market growth.