The rising incidence of lung cancer is one of the significant factors influencing the growth of diagnostic procedures for the disease.
Market Size – USD 2,320.2 Million in 2019,
Market Growth – CAGR of 7.7%,
Market Trends – Increasing focus on early diagnosis.
The lung cancer diagnostics market is estimated to be worth USD 4,215.5 million by 2027. The market is observing an elevation in demand due to the rapidly rising cases of lung cancer globally. This life-threatening disease incidence is increasing due to several reasons, including exposure to toxic gases, genetic, and smoking. The American Cancer Society projects the disease’s high occurrence among men than women. It is the most prominent cause of fatality in men and women, losing their lives due to lung cancer.
Growing number of people developing non-small cell lung cancer is the primary factor fueling the market’s growth. Other risk factors involved such as cigarette smoking, air pollution, occupational exposure, and passive smoking are increasing the rate of this fatal disease incidence globally. Recent drug approvals combined with strong drug pipeline is another crucial factor accelerating growth of the industry. Moreover, new innovation in drugs and their approvals for the disease treatment are also impacting the market’s growth.
The pandemic has created an impact on the hospitals to change the operation rooms into intensive care units, accommodating beds for critical patients. In this scenario, cancer patients’ treatment has been less prioritized and the diagnosis has been non-urgent. Although, the psychological influence on the delayed diagnosis resulting in improving patients’ health, if the psychological, social, and physical health are handled positively. The survival chances have also been increased. The negative impact of COVID-19 on cancer research and treatment has made the cancer patients’ management a priority, ensuing a new patient health emergency.
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Further key findings from the report suggest
- Almost 90% cases of lung cancer are caused by smoking. Constant exposure to polluted air and drinking arsenic-rich water have increased the occurrence of the disease.
- Squamous cell carcinomas, adenocarcinomas, and large cell carcinomas are the common types of non-small cell lung cancer.
- Hospitals & clinics segment has dominated the overall industry in the year 2019. Several factors including increasing purchasing power, well-resourced diagnostic & operating rooms, enhanced hospital services, and the availability of skilled professionals are influencing the growth of this segment.
- North America hold the largest industry share in the year 2019, due to fast adoption of advanced technologies, rising prevalence of lung cancer, well-established healthcare facilities, and the enactment of several initiatives for rising awareness regarding the frequency of the disease.
- Several renowned players Agilent Technologies, Qiagen NV, Roche Diagnostics, Merck KGaA, Thermo Fisher Scientific, Abbott Laboratories, Dickinson, Becton, Illumina Inc., Myriad Genetics, and Genomic Health, among others.
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For the purpose of this report, Reports and Data has segmented the Global Lung Cancer Diagnostics Market on the basis of lung cancer type, test type, end-user, and region:
Lung Cancer Type Outlook (Revenue, USD Billion; 2017-2027)
- Small Cell Lung Cancer
- Non-Small Cell Lung Cancer
Test Type Outlook (Revenue, USD Billion; 2017-2027)
- Sputum Cytology
- Molecular Testing
End-User Outlook (Revenue, USD Billion; 2017-2027)
- Hospitals & Clinics
- Diagnostic Centers
- Research Institutes
Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- Rest of MEA
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Table of Contents
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2019-2027
Chapter 3. Indicative Metrics
Chapter 4. Lung Cancer Diagnostics Market Segmentation & Impact Analysis
4.1. Lung Cancer Diagnostics Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
22.214.171.124. Rising occurrences of lung cancer
126.96.36.199. Growing geriatric population
188.8.131.52. Increased investments in the field of lung cancer diagnostics
184.108.40.206. Growing awareness for early detection of lung cancer
4.2.3. Market restraints analysis
220.127.116.11. Cost prohibitive lung cancer diagnostics
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