Global Lung Cancer Diagnostics Market Size, Share, Growth Report 2030

Lung Cancer Diagnostics Market

global demand for lung cancer diagnostics market was valued at approximately USD 1.96 billion in 2018, and is expected to generate revenue of around USD 3.32 billion by end of 2025, growing at a CAGR of around 7.9% between 2019 and 2025.

The report covers forecast and analysis for the lung cancer diagnostics market on a global and regional level. The study provides historic data from 2016 along with a forecast from 2019 to 2025 based on revenue (USD Billion). The study includes drivers and restraints for the lung cancer diagnostics market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the lung cancer diagnostics market on a global as well as regional level.

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In order to give the users of this report a comprehensive view on the lung cancer diagnostics market we have included competitive landscape and analysis of Porter’s Five Forces model for the market. The study encompasses a market attractiveness analysis, wherein product and services segment is benchmarked based on their market size, growth rate and general attractiveness.

The report provides company market share analysis in order to give a broader overview of the key players in the lung cancer diagnostics market. In addition, the report also covers key strategic developments of the market including acquisitions & mergers, new product launch, agreements, partnerships, collaborations & joint ventures, research & development, regional expansion of major participants involved in the lung cancer diagnostics market on global and regional basis.

Lung cancer is a form of cancer that originates in the lungs. Lungs perform a vital function of taking in oxygen and releasing carbon dioxide. Lung cancer is the prominent cause of cancer deaths globally. Cigarette smoking is a major factor that can cause lung cancer. Passive smoking can also lead to development of lung cancer in non-smokers. Other causes of lung cancer are exposure to asbestos fibers and radon gas. Non-small cell lung cancer and small cell lung cancer are the two types of lung cancer. As per statistics from the American Cancer Society, there will be about 228,000 new cases of lung cancer in the U.S. in 2019. Tests like chest x-ray, CT scan, MRI, PET scan, sputum cytology, bone scan, and biopsy are performed to diagnose lung cancer.

Factors such as development of biomarkers specific to lung cancer, high number of awareness programs undertaken by government and non-governmental organizations, efforts taken to increase the diagnosis and screening rates of lung cancer, heavy use of tobacco in some regions, and technological advancements will act as major driving factors in the growth of global lung cancer diagnostics market. Strong pipeline of biomarkers and favorable government policies in developing regions will act as an opportunity for the market players in the lung cancer diagnostics market. Nonetheless, dearth of skilled personnel, and lack of awareness regarding early screening of lung cancer in low income countries will restrict the growth of global lung cancer diagnostics market.

The global lung cancer diagnostics market has been split into type, test, and region. Based on type, lung cancer diagnostics market has been segmented into non-small cell lung cancer and small cell lung cancer. The non-small cell lung cancer segment accounted for the highest market share in 2018 due to accessibility of new lung cancer diagnostics that enable the detection of big tumor developments. The test segment has been segmented into biopsy, imaging test, molecular test, sputum cytology, and others. The imaging test segment accounted for the highest market share in 2018 due to repeated use of imaging techniques like x-ray, CT, and MRI.

North America will be the leading region during the forecast period. Development of technology-enabled diagnostics, presence of leading market players, and rapid uptake of new technologies will boost the market growth in this region. Europe will be the second largest market. The key reasons are existence of skilled researchers, increase in awareness about early screening of lung cancer, and favorable reimbursement scenario. Asia Pacific will propagate at speedy rate over the forecast period due to increasing cases of lung cancer due to heavy use of tobacco and efforts taken by various agencies to create awareness regarding early diagnosis of lung cancer. Latin America market will develop at a significant rate during the forecast period. The Africa and Middle Eastern countries are likely to experience perceptible growth in the estimated time-frame.

The report also includes detailed profiles of key players such as Roche Diagnostics, bioMérieux, Thermo Fisher Scientific, Illumina Inc., Qiagen N.V., Agilent Technologies, Sanofi S.A., AstraZeneca plc, and Janssen among others.

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This report segments the Global Lung Cancer Diagnostics Market as follows:

Global Lung Cancer Diagnostics Market: By Type