lung Cancer Screening Market Growth Opportunities, Market Shares, Future Estimations and Key Countries by 2029

[akash Arjun pingale]

lung Cancer Screening Market: size was valued at USD 2.18 Billion in 2021 and the total Lung Cancer Screening revenue is expected to grow at a CAGR of 8.32% from 2022 to 2029, reaching nearly USD 4.13 Billion.

lung Cancer Screening Market Overview: 

The lung Cancer Screening Market study gives a comprehensive view of the competition, including the market share and company profiles of the major global competitors. The scope of the research includes a full examination of the lung Cancer Screening Market, as well as the reasons for variations in the industry's growth between regions.

lung Cancer Screening Market Dynamic:

An increased focus on research and development activities of lung cancer diagnostic and screening tests is one of the major factors driving the lung cancer screening market growth. For example, in April 2020, researchers at the Massachusetts Institute of Technology (MIT) developed a nanoparticle-based method for early lung cancer detection via a simple urine test. The method identifies biomarkers produced by peptide-coated nanoparticles interacting with disease-associated proteases in the tumor microenvironment. Experiments in two distinct lung cancer mouse models revealed that the urine test may identify tumors as tiny as 2.8 mm. The researchers expect that this noninvasive diagnosis approach would lower the number of false positives associated with a current test method and allow them to discover more cancers in the early stages of illness.

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Market Scope:

Following the completion of market engineering, which included market statistics computations, market size estimations, market forecasts, market breakdown, and data triangulation, extensive primary research was done to gather information and verify and validate important numbers. To undertake market estimating and forecasting for the overall market segments and sub-segments described in this research, top-down and bottom-up tactics, as well as different data triangulation procedures, were often employed throughout the market engineering process. Extensive qualitative and quantitative analysis is performed on all data obtained during the market engineering process in order to provide essential information throughout the report.

lung Cancer Screening Market Segmentation: 

Based on Cancer Type, the Non-small Cell Lung Cancer (NSCLC) segment dominated the global lung cancer screening market with the highest market share of 78% in 2021. This segment is further expected to maintain its dominance with the highest market share of 85% at the end of the forecast period. Non-small cell lung cancer (NSCLC) is the most common type of cancer, accounting for 85% of lung cancer occurrences. However, NSCLC subtypes include large cell carcinoma, adenocarcinoma, squamous cell carcinoma, and other less common types of NSCLC. Increased screening awareness in developed and developing countries, along with an increase in NSCLC incidence globally, is expected to drive segment growth over the forecast period. As a result, during the forecast period, the segment is expected to grow at an 8.24% CAGR. According to the American Cancer Society, approximately 84% of all lung malignancies are non-small cell, while 13% are SCLC. Meanwhile, according to Cancer.Net, the five-year survival rate for NSCLC is 24%, compared to 6% for SCLC.

lung Cancer Screening Market Key Players:

• GE Healthcare (United States)
• PenRad Technologies, Inc. (United States)
• NanoString, Myriad Genetics Inc. (United States)
• OncoCyte (United States)
• Biodesix (United States)
• Broncus (United States)
• Abbott (United States)
• Illumina, Inc., (United States)
• Thermo Fischer Scientific (United States)
• Medtronic (United States)
• Nuance Communications, Inc. (United States)
• Riverain Tech (United States)
• 20/20 Gene Systems (United States)
• Danaher Corporation (United States)
• NeoGenomics (United States)
• Eon Health (United States)
• Siemens Healthineers AG (Germany‎)
• Agilent Technologies, Inc., AstraZeneca (United Kingdom)
• Insight Genetics (United Kingdom)
• Inivata (United Kingdom)
• Oncimmune (United Kingdom)

Market leaders are identified by primary and secondary research, and market revenue is calculated using primary and secondary research. The core study included in-depth interviews with key thought leaders and industry experts such as experienced front-line personnel, CEOs, and marketing executives. In-depth interviews with important thought leaders and industry experts, such as experienced front-line personnel, CEOs, and marketing executives, were conducted as part of primary research, while secondary research included a review of the major manufacturers' annual and financial reports. Secondary data is utilized to calculate percentage splits, market shares, growth rates, and global market breakdowns, which are then verified against primary data.

Regional Analysis:

Individual market influencing components and changes in market laws impacting current and future market trends are also covered in the lung Cancer Screening market analysis regional overview. Current and future trends are studied in order to evaluate the overall market potential and find profitable patterns in order to get a firmer footing. The geographical market evaluation is based on the current environment and anticipated trends.

COVID-19 Impact Analysis on lung Cancer Screening Market:

Due to a break in operations, end-user sectors where lung Cancer Screening are used suffered a drop in growth from January 2020 to May 2020 in a number of countries, including China, Italy, Germany, the United Kingdom, the United States, and Spain, France, and India. As a result, the revenues of enterprises in these industries fell significantly, as did the demand for lung Cancer Screening manufacturers, impacting the growth of the lung Cancer Screening market in 2020. Lockdowns and a surge in COVID-19 events globally have severely reduced end-user business demand for lung Cancer Screening.

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Key Questions Answered in the lung Cancer Screening Market Report are: 

• In 2021, which segment held the highest proportion of the lung Cancer Screening market?
• What is the lung Cancer Screening market's competitive landscape?
• What are the primary drivers assisting lung Cancer Screening market growth?
• Which region has the most market share in the lung Cancer Screening market?
• What will be the lung Cancer Screening market's CAGR throughout the projected period (2022-2027)?

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