What Transformation Has the Lung Cancer Diagnostic And Screening Market Undergone?
The lung cancer diagnostic and screening market has seen considerable growth due to a variety of factors.
•The market size for lung cancer diagnosis and screening has seen significant growth in the past couple of years. The market is projected to expand from $2.34 billion in 2024 to $2.56 billion in 2025, with a compound annual growth rate (CAGR) of 9.6%.
The growth during the historical period is credited to the advancements in digital imaging, standardization of screening procedures, public health measures aimed at curbing tobacco consumption, the setting up of cancer registries, as well as progress in pathology analysis.
How Will The Lung Cancer Diagnostic And Screening Market Size Evolve In The Foreseeable Future?
The lung cancer diagnostic and screening market is expected to maintain its strong growth trajectory in upcoming years.
• Expectations are high for robust expansion in the lung cancer diagnostic and screening market over the coming years. Forecasts predict it will reach a value of $3.69 billion in 2029, with a compound annual growth rate (CAGR) of 9.5%.
This surge during the projection period can be connected to the increased occurrence of lung cancer, a growing focus on early diagnosis, the widening of high-risk screening schemes, a shift towards individualized medicine, and state initiatives and funding. Key trends anticipated during the forecast period encompass the emergence of innovative screening methods, advancements in biomarker examination, incorporation of artificial intelligence (AI), surge in the acceptance of liquid biopsy, concentration on early stage detection, and proliferation of low-dose CT screening programs.
Which Drivers Are Accelerating Growth In The Lung Cancer Diagnostic And Screening Market?
The escalating incidence of lung cancer is projected to fuel the expansion of the lung cancer diagnostic and screening market in the future. Defined by the uncontrolled growth of anomalous cells in the lung tissues, lung cancer is a deadly disease characterized by symptoms like coughing, chest discomfort, and breathing issues. Early detection of this disease in patients is facilitated by lung cancer diagnosis and screening through various tests like incisional biopsy and bronchoscopy. For instance, data from the American Cancer Society, a government organization in the US, indicated that around 238,340 new lung cancer cases emerged in the country in January 2023 (117,550 in men and 120,790 in women). Moreover, it was reported that lung cancer resulted in 127,070 deaths (67,160 in men and 59,910 in women). Thus, the escalating cases of lung cancer are propelling the growth of the lung cancer diagnostic and screening market.
What Are The Core Segments Of The Global Lung Cancer Diagnostic And Screening Market?
The lung cancer diagnostic and screening market covered in this report is segmented –
1) By Product: Instruments, Consumables And Accessories
2) By Test: Biomarkers Tests, Imaging Test, Biopsy, Blood Test, Other Tests
3) By Cancer Type: Non-Small Cell Lung Cancer, Small Cell Lung Cancer
4) By End User: Hospital, Independent Diagnostic Laboratories, Diagnostic Imaging Centers, Cancer Research Institutes, Other End-Users
Subsegments:
1) By Instruments: Imaging Devices, Biopsy Devices, Bronchoscopy Systems
2) By Consumables And Accessories: Biopsy Needles, Reagents And Assays, Imaging Contrast Agents, Patient Preparation Equipment, Sample Collection Kits, Laboratory Supplies
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Which Emerging Trends Are Reshaping The Lung Cancer Diagnostic And Screening Market Size?
Leading enterprises in the lung cancer diagnostic and screening market are pioneering technologies like lung cancer tests to amplify early detection, bolster diagnostic precision, and enable customized treatment plans for patients susceptible to the illness. Lung cancer tests are diagnostic techniques tailored to identify the existence of lung cancer through diverse procedures such as imaging, biomarker investigation, and cytological tests. For example, in December 2023, Freenome, a biotechnology firm based in the US, introduced PROACT LUNG. This trial symbolizes a significant progression in transforming lung cancer screening, possibly resulting in early recognition and enhanced patient outcomes while resolving prevalent gaps in ongoing screening methods.
Who Are the Key Players in the Lung Cancer Diagnostic And Screening Market?
Major companies operating in the lung cancer diagnostic and screening market include:
• Pfizer Inc.
• F. Hoffmann-La Roche AG
• Bristol-Myers Squibb Company
• Thermo Fisher Scientific Inc.
• AstraZeneca Plc
• Abbott Laboratories Inc.
• Danaher Corporation
• Siemens Healthcare GmbH
• FUJIFILM Corporation
• Koninklijke Philips N.V.
• GE Healthcare Bio Sciences AB
• Quest Diagnostics Incorporated
• Agilent Technologies Inc.
• Illumina Inc.
• Qiagen Inc.
• Myriad Genetic Laboratories Inc.
• NeoGenomics Laboratories Inc.
• Canon Medical Systems Corporation
• OncimmuneHoldings Plc
• Broncus Medical Inc.
• OncoCyte
• Riverain Technologies LLC
• VisionGate
• Foundation Medicine Inc.
• Biodesix
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What are the Regional Insights into the Lung Cancer Diagnostic And Screening Market?
North America was the largest region in the lung cancer diagnostic and screening market in 2024. The regions covered in the lung cancer diagnostic and screening market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
