LUNG CANCER DIAGNOSTIC AND SCREENING MARKET ANALYSIS

Market Challenges And Opportunities

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

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.