LUNG CANCER DIAGNOSTIC AND SCREENING MARKET ANALYSIS

The global lung cancer diagnostic and screening market is estimated to be valued at US$ 2,458.7 million in 2023 and is expected to exhibit a CAGR of 10.1% during the forecast period (2023-2030).

Analysts’ Views on Global Lung Cancer Diagnostic and Screening Market:

Lung cancer is a disease caused by uncontrolled cell division in the lungs. The rising number of patient population with lung cancer is expected to increase the diagnosis and screening of lung cancer. Thus, it offers the opportunity for various manufacturers to offer innovative lung cancer diagnostic and screening methods that allow for early detection of lung cancer.

Figure 1. Global Lung Cancer Diagnostic and Screening Market Share (%), By Test Type, 2023

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Global Lung Cancer Diagnostic and Screening Market– Drivers

• Increasing Research & Development activities for early detection of cancer: Increasing Research & Development activities for early detection of cancer are expected to propel the growth of the global lung cancer diagnostic and screening market over the forecast period. For instance, in April 2020, researchers at the Massachusetts Institute of Technology (MIT) developed a nanoparticle-based approach that allows the early diagnosis of lung cancer through a simple urine test. The strategy detects biomarkers resulting from the interaction of peptide-coated nanoparticles with disease-associated proteases in the tumor microenvironment. Experiments in two different mouse models of lung cancer showed that the urine test could detect tumors as small as 2.8 mm. The researchers hope that this type of noninvasive diagnosis could reduce the number of false positives associated with an existing test method and help to detect more tumors in the early stages of the disease.
• Increasing prevalence of lung cancer due to changes in lifestyle and increasing consumption and production of tobacco: The increasing prevalence of lung cancer due to changes in lifestyle and increasing consumption and production of tobacco is expected to increase the demand for surgical equipment, thereby driving the global lung cancer diagnostic and screening market growth. When discussing and analysing long-term personal development, it is important to constantly take into account the lifestyle that people are raised in or choose when autonomously shaping their lives. Smoking constituted an important symbolic gadget, suggesting the user’s free and modern lifestyle. As was proven, smoking comes with a high price for health. Lifestyle habits are, however, multicomponent behaviors, including, diet, exercise, sleep, and alcohol and/or other substance use. On the other hand, smoking as a lifestyle has been in vogue, which makes it a global public health problem and a major cause of lung cancer. Thus, the increasing rate of smoking and tobacco consumption around the world due to change in lifestyle is expected to fuel market growth over the forecast period. In May 2022, according to a report published by the World Health Organization (WHO), tobacco kills more than 8 million people worldwide each year. Whereas more than 7 million of those deaths are the result of direct tobacco use, approximately 1.2 million are the result of non-smokers being exposed to second-hand smoke.

Figure 2. Global Lung Cancer Diagnostic and Screening Market Share (%), By Region, 2023

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Global Lung Cancer Diagnostic and Screening Market- Regional Analysis

Among regions, North America is estimated to hold a dominant position in the global lung cancer diagnostic and screening market over the forecast period. North America is estimated to hold 33.5% of the market share in 2023. The global lung cancer diagnostic and screening market is expected to witness significant growth in the coming years, driven by the high prevalence of lung cancer. The increasing prevalence of neurological disorders is contributing to the growth of the lung cancer diagnostic and screening market in the North America region. For instance, according to data published by the American Society of Clinical Oncology (ASCO) on March 3, 2023, worldwide, lung cancer is the second most commonly diagnosed cancer, while NSCLC (non-small cell lung cancer) is the most common type of lung cancer in the U.S., accounting for 81% of all lung cancer diagnoses.

Global Lung Cancer Diagnostic and Screening Market– Impact of Coronavirus (COVID-19) Pandemic

• Since the COVID-19 virus outbreak in December 2019, the disease has spread to over 100 countries across the globe, and the World Health Organization declared it a public health emergency on January 30, 2020.
• COVID-19 affected the economy in three main ways: by directly affecting the production and demand of drugs, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries, such as China, India, Saudi Arabia, the U.A.E., Egypt, and others, faced problems with the transportation of things from one place to another.
• However, the COVID-19 pandemic had a negative impact on the global lung cancer diagnostic and screening market, as patients with lung cancer had limited access to cancer treatment programs, and during the COVID-19 public health emergency, cancer research was hampered. For instance, according to a report published on February 9, 2022, by the American Association for Cancer Research, COVID-19 had disrupted all aspects of cancer research and treatment. Patients with lung cancer and weakened immune system due to their treatment are at higher risk of COVID-19 infection and severe disease. COVID-19 led to closures of research laboratories and interruptions in clinical trials, which negatively impacted career development opportunities for the science, technology, engineering, and mathematics (STEM) workforce, especially for women and minority early-stage investigators, and this resulted in significant burnout among health-care workers.

Global Lung Cancer Diagnostic and Screening Market Segmentation:

The global lung cancer diagnostic and screening market report is segmented into test type, cancer type, end user and region.

• Based on test type, the market is segmented into biomarkers test (EGFR Mutation Test, KRAS Mutation Test, ALK Test, HER2 Test, Others), imaging test ( Computed Tomography (CT) scan, Positron Emission Tomography (PET) scan, Chest X-Ray, Others), and biopsy. Out of which, the imaging test is expected to hold a dominant position in the global lung cancer diagnostic and screening market during the forecast period.
• Based on cancer type, the market is segmented into non-small cell lung cancer and small cell lung cancer. Out of which, non-small cell lung cancer is expected to dominate the market over the forecast period, and this is attributed to increasing prevalence of non-small cell lung cancer.
• Based on end user, the market is segmented into hospital associated labs, independent diagnostic laboratories, diagnostic imaging centers, cancer research institutes and others. Out of which, the hospital associated labs is expected to dominate the market over the forecast period, and this is attributed to the increased diagnosis and screening of cancer in hospitals.
• Among all the segmentation, the cancer type segment is expected to dominate the market over the forecast period, and this is attributed to increasing prevalence of lung cancer. According to data published by the American Society of Clinical Oncology (ASCO), on March 3, 2023, worldwide, lung cancer is the second most commonly diagnosed cancer, while NSCLC (non-small cell lung cancer) is the most common type of lung cancer in the U.S., accounting for 81% of all lung cancer diagnoses.

Global Lung Cancer Diagnostic and Screening Market- Cross Sectional Analysis:

Among all segments, test type is expected to be dominant in the North America region as key players are focusing on mergers and acquisitions for lung cancer diagnostic and screening, which is expected to boost demand for the lung cancer diagnostic and screening market in the North America region. For instance, in March 2021, Agilent Technologies, Inc., a company specializing in laboratory instruments, software, services, and consumables, announced that it had entered into a definitive agreement to acquire Resolution Bioscience Inc., a leader in the development and commercialization of next-generation sequencing (NGS)-based precision oncology solutions. The acquisition complements and expands Agilent’s capabilities in NGS-based cancer diagnostics and provides the company with innovative technology.

Global Lung Cancer Diagnostic and Screening Market: Key Developments

• On October 9, 2023, DELFI Diagnostics, a developer of accessible blood-based tests that deliver a new way to enhance cancer detection, announced the initial commercial introduction of FirstLook Lung. FirstLook is a blood test that offers a convenient, accurate, and personalized result by determining the likelihood of detecting lung cancer through low-dose CT (LDCT), with a negative predictive value (NPV) of 99.7 percent.
• On August 2023, LUNGevity Foundation, a leading lung cancer-focused nonprofit organization, announced the launch of its Early Lung Cancer Center (ELCC). The ELCC was created to accelerate the development and broad adoption of early detection and treatment options so people diagnosed with lung cancer have the best chance for long-term survival and a better quality of life.
• In May 2022, DELFI Diagnostics, a pioneering developer of next-generation high-performance, affordable liquid biopsy tests for early cancer detection, announced that it had enrolled the first participants in the CASCADE-LUNG study. CASCADE-LUNG is a prospective, multi-center trial that will enroll up to 15,000 participants at the time of their low dose CT (LDCT) lung cancer screening and will add to the clinical validation of Delfi's liquid biopsy test for lung cancer detection.
• In January 2020, Amgen Inc., a multinational biopharmaceutical company announced strategic collaborations with leading diagnostic companies Guardant Health, Inc. and QIAGEN N.V. to develop blood and tissue-based companion diagnostics (CDx), respectively, for investigational cancer treatment AMG 510. AMG 510 is the first KRASG12C inhibitor to advance to the clinic for investigation in treatment of multiple tumor types. KRAS G12C is one of the most frequently mutated oncogenes in human cancer. The agreements with both companies will initially focus on CDx tests for non-small cell lung cancer (NSCLC).

Global Lung Cancer Diagnostic and Screening Market: Key Trends

• Increasing awareness campaigns to increase the number of diagnostic and screening test: Increasing awareness campaigns to increase the number of diagnostic and screening tests for lung cancer are expected to drive the growth of the global lung cancer diagnostic and screening market over the forecast period. For instance, in November 2022, the government of Canada initiated Lung Cancer Awareness Month to raise awareness about lung cancer and the actions to help prevent it and reduce the stigma associated with this disease.

Global Lung Cancer Diagnostic and Screening Market: Restraint

High cost of diagnosis

High cost of diagnosis at later stages is expected to hinder market growth over the forecast period. For instance, in September 2022, according to the National Center for Biotechnology Information (NCBI), mean annual and cumulative healthcare costs through the year for post-cancer diagnosis were significantly higher among those diagnosed at later versus earlier cancer stages.

Key players are focusing on developing cost-effective diagnosis tests, which is expected to drive market growth over the forecast period.

Global Lung Cancer Diagnostic and Screening Market - Key Players

Major players operating in the global lung cancer diagnostic and screening market include Abbott, Amgen Inc., Illumina, Inc., Thermo Fisher Scientific Inc., Lepu Medical Technology(Beijing)Co.,Ltd., AstraZeneca, F. Hoffmann-La Roche Ltd, Laboratory Corporation of America Holdings., Agilent Technologies, Inc., QIAGEN, Quest Diagnostics Incorporated., NeoGenomics Laboratories., Myriad Genetics, Inc., GRAIL, LLC., and DELFI Diagnostics.

Definition: Lung cancer screening is a process that's used to detect the presence of lung cancer in otherwise healthy people with a high risk of lung cancer. Lung cancer screening is recommended for older adults who are longtime smokers and who don't have any signs or symptoms of lung cancer.