Lung Cancer Diagnostics Market Size, Impact of COVID-19, Global Forecast 2022-2027

Globally, lung cancer occurs when cells divide in the lungs uncontrollably—further causing tumours to grow, which reduces a person’s ability to breathe and spread to other parts of the body. Moreover, lung cancer is amongst the most common cancer and the leading cause of cancer-related death worldwide. Smoking is a significant risk factor, though everyone who develops lung cancer does not have a smoking history. Lung cancer can be fatal. Nevertheless, effective diagnoses and treatments are improving the outlook. According to the Renub Research, Lung Cancer Diagnostics Market is projected to reach US$ 3.6 Billion by 2027.

Types of Lung Cancer Prevailing in the Global Market

The two chief types of lung cancer are small-cell lung cancer and non-small cell lung cancer, depending on their appearance under a microscope. Small cell lung cancer (SCLC) spreads promptly in the body, making detecting this cancer at an early stage. However, only about 10% of the fatalities are small cell lung cancers. There are two dominant subtypes of SCLC, combined small-cell lung carcinoma and small-cell lung carcinoma.

Non-small cell lung cancer (NSCLC) is the unique form of cancer and accounts for 85% of lung cancer cases. Moreover, multiple subtypes of NSCLC include large cell carcinoma, adenocarcinoma, squamous cell carcinoma, and other less frequent types of NSCLCs. As per our analysis, non-small cell lung cancer dominates small cell lung cancer around the world.

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Worldwide Lung Cancer Diagnosis Industry will grow with a CAGR of 7.75% during 2021 to 2027

Imaging tests activity is the primary screening technique used for lung cancer diagnosis. Imaging tests assist as the initial screening mechanism for lung cancer diagnostics and are helpful throughout the treatment period. Wherein the high usage rates of various imaging techniques, including X-rays, Magnetic resonance imaging (MRI) scans (which use magnetic fields), Ultrasound (which uses sound waves) and Nuclear tests (which use radioactive substances to trace) are involved. Moreover, if cancer has spread, imaging tests can also reveal changes to bones and other organs. Consequently, helping to track treatment progress and capture the highest market share in the Lung Cancer Diagnostics Market.

Global Lung Cancer Diagnostics Market Size was US$ 2.3 Billion in 2021

Globally, lung cancer patients visit the hospitals & clinics for cancer-related and unrelated reasons more often than patients visiting diagnostics centres and research institutes with their lung cancer-related issues. Further, this results in the dominance of the hospitals & clinics dealing in admissions and lung cancer diagnosis. Moreover, as the patients frequently require emergency medical care due to acute unbearable symptoms and life-threatening conditions, hospitals & clinics serve as immediate help. As per our analysis, hospitals dominate the end-user segment in the Lung Cancer Diagnostics Market.

North America is the largest Lung Cancer Diagnosis Market and expected to remain its dominance in forecast period

North America, Europe and the Asia Pacific are analyzed at the regional forefront in our report. As per our analysis, North America is identified as the largest regional market with the highest market share throughout the forecasted period. The largest market share is attributed to the increased market invasion rates of technologically advanced products, the increasing patient awareness, and the growing smoking prevalence level in the region.

In addition, the presence of a favourable reimbursement framework (wildly succeeding the implementation of the Affordable Care Act) and sophisticated healthcare infrastructure is expected to promote the usage rates of diagnostics devices in North America. Initiatives, such as smoking suspension programs administered by the American Lung Association (ALA) and campaigns to enhance knowledge of the symptoms of lung cancer, are anticipated to boost the regional market growth further.

Besides, Asia Pacific is projected to capture a lucrative growth in market share during the projection period. Major factors accountable for the fastest growth exhibited in the Asia Pacific include the rising penetration of advanced lung cancer diagnostic tools in the region and the increasing awareness about the disease symptoms.

Competitive Landscape Existing in the Market

The lung cancer diagnostics market is highly fragmented, with a large number of local and international players. Key players adopt different growth policies to magnify their market presence, including partnerships, agreements, collaborations, new product launches, geographical augmentations, mergers and acquisitions. Some of the chief players in the industry are Illumina, Inc., Abbott Laboratories, Thermo Fisher Scientific, Inc, QIAGEN N.V. and Roche Holding AG.

Recent Launches in Lung Cancer Diagnosis Field

In September 2020, Illumina acquired GRAIL, a healthcare company concentrated in multi-cancer early apprehension, for about USD 8 billion. The acquisition will also combine the company’s latest product, Galleri multi-cancer screening test.

In June 2020, Roche announced to launch ‘uPath PD-L1 (SP263), a CE-IVD marked automated digital pathology algorithm for detecting non-small cell lung cancer. It is an image analyzer that supports diagnosing non-small cell lung cancer.

COVID-19 Pandemic affect on the Lung Cancer Diagnostics

At the origin of the COVID-19 pandemic, elective medical procedures, including lung cancer screening, were principally put on hold to prioritize urgent necessities and reduce the risk of the spread of COVID-19 in healthcare settings at the beginning of 2021. One effect of this has been a significant drop in the lung cancer diagnostics industry compared to 2020 as the pandemic started spreading at a rapid pace in H1 of 2021. Most healthcare facilities were offering elective procedures again, including lung cancer diagnostic declining the all over market in 2021.

Renub Research latest report “Lung Cancer Diagnostic Market, Global Forecast By Diagnosis Test Type (Imaging Test, Biopsy, Sputum Cytology, Molecular Test and Others), Lung Cancer Type (Small-cell Lung Cancer Diagnostics and Non-Small-cell Lung Cancer Diagnostics), End-User (Hospitals & Clinics, Diagnostic Centers, Research Institute and Others), Region (North America, Europe, Asia Pacific and Rest of World), Companies (Illumina, Inc., Abbott Laboratories, Thermo Fisher Scientific, Inc, QIAGEN N.V. and Roche Holding AG)” provides a detailed analysis of Lung Cancer Diagnostic Industry.

Follow the link for the full report with detailed TOC and list of figures and tables: https://www.renub.com/lung-cancer-diagnostics-market-p.php

Diagnosis Test Type – Global Lung Cancer Diagnostics Market has been covered from 5 viewpoints:

1.    Imaging Test

2.    Biopsy

3.    Sputum Cytology

4.    Molecular Test

5.    Others

Lung Cancer Type – Global Lung Cancer Diagnostics Market has been covered from 2 viewpoints:

1.    Small-cell Lung Cancer Diagnostics

2.    Non-Small-cell Lung Cancer Diagnostics

Non-Small-cell Lung Cancer Diagnostics has been segmented into 4 viewpoints:

1.    Adenocarcinoma

2.    Squamous Cell Carcinoma

3.    Large cell carcinoma

4.    Others and not otherwise specified

End-User – Global Lung Cancer Diagnostics Market has been covered from 4 viewpoints:

1.    Hospitals & Clinics

2.    Diagnostic Centers

3.    Research Institute

4.    Others

Regions – Global Lung Cancer Diagnostics Market has been covered from 4 viewpoints:

1.    North America

2.    Europe

3.    Asia Pacific 

4.    ROW

Company Insights:

•    Overviews

•    Recent Developments

•    Revenues

Company Analysis:

1.    llumina, Inc.

2.    Abbott Laboratories

3.    Thermo Fisher Scientific, Inc

4.    QIAGEN N.V.

5.    Roche Holding AG.

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