About Lung Cancer Diagnostics
A lung cancer diagnosis can be defined as a set of tests and diagnostic procedures used in the treatment of lung cancer, including imaging, tumor screening, sputum cytology tests, and biopsy. According to the World Health Organization (WHO), at least 6 million people die from tobacco consumption every year. Tobacco, the leading cause of lung cancer, may lead the lung cancer diagnostic market to grow. Other factors such as alcohol consumption, infectious agents such as human papillomavirus (HPV), environmental pollution, and occupational carcinogens also contribute to increased lung cancer patients. The need for more efficient diagnostic systems is that only 15% of lung cancers are diagnosed, while the remaining undiagnosed cancers develop into more aggressive forms, bringing the 5-year survival rate in these detected patients to just 4% reduces late-stage lung cancer. An estimated 14 million adults have been diagnosed with the disease worldwide, with the prevalence expected to reach 21.7 million by 2030. Increased exposure to radon, asbestos, secondhand smoke, air pollution, or other factors causes lung cancer in nonsmokers. Genetics also plays an important role in the occurrence of disease in non-smokers. Occupational exposures to diesel fumes, asbestos, and other chemicals increase the risk of cancer. Increasing technological advances such as the development of specific biomarkers facilitate the tailored treatment approach for malignant lung diseases that ultimately drives the market for lung cancer diagnostics over the forecast period. The increasing awareness of the population and the availability of state funds and private funds for research and development of better tumor diagnosis tools are driving the growth of the industry further.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The companies are now exploring the market by adopting mergers & acquisitions, expansions, investments, new developments in existing products, and collaborations as their preferred strategies. The players are also exploring new geographies and industries through expansions and acquisitions so as to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Lung Cancer Diagnostics market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Roche Diagnostics (Switzerland), BioMérieux (France), Qiagen (Germany), Agilent Technologies (United States), AstraZeneca (United Kingdom), Sanofi (France), Janssen Pharmaceuticals (Belgium), GE Healthcare (United States), Hologic (United States), Koninklijke Philips N.V (Netherlands), Danaher (United States), Illumina, Inc. (United States), Abbott Laboratories (United States), Thermo Fisher Scientific, Inc. (United States), Quest Diagnostics (United States), Courtagen Life Sciences, Inc. (United States), DiagnoCure Inc. (Canada), BioMark Diagnostics Inc. (Canada), HalioDx SAS (France) and NeoGenomics (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are NanoString Technologies, Inc. (United States), Myriad Genetics, Inc. (United States), BioTheranostics, Inc. (United States) and EXACT Sciences Corporation (United States).
Segmentation Overview
AMA Research has segmented the market of Global Lung Cancer Diagnostics market by Type (CA Test, HER2 Tests, ALK Tests, Angiogenesis Inhibitor, KRAS Mutation Tests and Others), Application (Hospital Associated Labs, Independent Diagnostic Laboratories, Cancer Research Institutes and Others) and Region.
On the basis of geography, the market of Lung Cancer Diagnostics has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Indication, the sub-segment i.e. Non-Small-Cell Lung Cancer [Large Cell Carcinoma, Adenocarcinoma, Squamous Cell Carcinoma, Others] will boost the Lung Cancer Diagnostics market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Imaging Techniques, the sub-segment i.e. MRI will boost the Lung Cancer Diagnostics market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
A Rising Trend in Campaigning For Increasing Awareness of the Symptoms of Lung Cancer and The Rise in Accessibility of Private and Government Funds for R&D to Develop Better Tumor Diagnostic Tools
Market Growth Drivers:
A Rise in the Prevalence of Smoking, The Increasing Awareness Levels amongst the Population, The Presence of a Favorable Reimbursement Framework and The Rising Penetration of the Advanced Lung Cancer Diagnostic Tools
Challenges:
Lack of Skilled Personnel
Restraints:
A Dearth of Awareness in Under Developed Regions
Opportunities:
Introduction of Technological Advancements With Regard To Accuracy and The Increasing Health Care Expenditure
Market Leaders and their expansionary development strategies
In March 2024, Maverix Medical that it has closed its acquisition of Cirrus Bio, which it is incorporating into a new diagnostics arm, Maverix Dx, with plans to bring to market a suite of lung cancer diagnostics via additional investment and acquisitions. Financial terms of the deal were not disclosed.
In July 2020, Roche had announced the CE-IVD launch of its automated digital pathology algorithm, the uPath PD-L1 (SP263) image analysis for non-small cell lung cancer (NSCLC). The algorithm enabled pathologists to automatically evaluate scanned slide images that are objective, reproducible, and can aid diagnosis and ultimately targeted treatment options for patients. The algorithm was faster, and more accurate diagnoses are crucial in non-small cell lung cancer, which accounts for about 85 percent of all lung cancer cases.
Key Target Audience
Providers of Lung Cancer Diagnostics, Potential Technology Investors, Regulatory & Government Bodies, End Users, Downstream Vendors and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.