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 awareness about disease diagnosis at an early stage.
The global Lung Cancer Diagnostics Market is forecasted to reach USD 4,215.5 Million by 2027, according to a new report by Reports and Data. The lung cancer diagnostics market is observing demand attributed to the rising incidence of lung cancer. It may occur due to various reasons, including smoking, genetic, and exposure to toxic gases. The American Cancer Society projects over 228,000 lung cancer cases in the year 2020, with the occurrence of the disease being higher in men than women. It is a significant cause of death in both US men and women dying due to cancer.
The rise in the number of people suffering from non-small cell lung cancer is one of the major factors driving the global market growth. The risk factors such as air pollution, cigarette smoking, passive smoking, and occupational exposure are increasing the incidence of the disease globally. One of the major drivers of the disease is a strong drug pipeline and recent drug approvals. The innovation of new drugs and their approvals for the treatment of the disease is anticipated to fuel the growth of the market.
Furthermore, the report is furnished with the latest impact of the COVID-19 pandemic on the market. The pandemic has affected every segment of the market, along with bringing disruption in the supply chain, demands & trends, and financial difficulties. The report covers the initial and future assessment of the COVID-19 impact on the market.
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Geographical Segmentation:
The report essentially evaluates the significant presence of the global Lung Cancer Diagnostics market across the world’s major regions. The global Lung Cancer Diagnostics market has been categorized into several key geographical regions. North America, Asia Pacific, Europe, Latin America, and the Middle East & Africa are the leading Lung Cancer Diagnostics market regions. In this section of the report, the authors have examined the market share, market size, revenue contribution, sales network, distribution channels, and numerous other aspects of each geographical segment.
Reports and Data’s latest report sums up the significant changes in the global business sector that followed the COVID-19 outbreak. The pandemic has also had an enormous impact on the global Lung Cancer Diagnostics market, disrupting the market dynamics and trends. The global health crisis has gravely affected the Lung Cancer Diagnostics industry, disrupting the global supply chains and bringing about volatility in prices and product demand. However, industry experts believe that the global Lung Cancer Diagnostics market will regain traction in the post-COVID scenario. The report further offers a preliminary and a future assessment of the pandemic’s impact on this lucrative business space.
Key findings of the report:
Smoking causes ~90% of lung cancer cases. Constant exposure to a high level of air pollution and drinking water with a high level of arsenic increases the odds of the disease.
The most common type of non-small cell lung cancer are adenocarcinomas, squamous cell carcinoma, and large cell carcinomas.
Hospitals & clinics dominated the market in 2019. The factors including well-resourced operating & diagnostic rooms, higher purchasing power, the existence of highly skilled healthcare professionals, and improved health coverage for hospital-based healthcare services from several private and group insurance plans, among others, are responsible for the high market share of hospitals.
North America contributed to the largest market share in 2019. The market dominance is owing to the higher acceptance of advanced technologies, well-established healthcare diagnostic facilities, the surging incidence of lung cancer, and the enactment of numerous initiatives for raising awareness about the disease in the region.
Key participants Qiagen NV, Agilent Technologies, Roche Diagnostics, Thermo Fisher Scientific, Merck KGaA, Abbott Laboratories, Becton, Dickinson, and Company, Illumina Inc., Genomic Health, and Myriad Genetics, among others.
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For the purpose of this study, the global Lung Cancer Diagnostics market has been segmented on the basis of disease type, application, distribution channel, 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)
Imaging
Biopsy
Sputum Cytology
Molecular Testing
Others
End-User Outlook (Revenue, USD Billion; 2017-2027)
Hospitals & Clinics
Diagnostic Centers
Research Institutes
Others
Table Of Contents:
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.3. Methodology
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
4.2.2.1. Rising occurrences of lung cancer
4.2.2.2. Growing geriatric population
4.2.2.3. Increased investments in the field of lung cancer diagnostics
4.2.2.4. Growing awareness for early detection of lung cancer
4.2.3. Market restraints analysis
4.2.3.1. Cost prohibitive lung cancer diagnostics
4.3. Technological Insights
4.4. Regulatory Framework
4.5. ETOP Analysis
4.6. Porter’s Five Forces Analysis
4.7. Competitive Metric Space Analysis
4.8. Price trend Analysis
4.9. Customer Mapping
4.10. Covid-19 Impact Analysis
4.11. Global Recession Influence
Continued…
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