Lung cancer diagnostic and screening includes medical tests and procedures to detect and diagnose lung cancer. The major products include imaging tests such as X-ray, CT scan, PET scan and biopsy. These tests are conducted to detect abnormal growths in the lungs at an early stage. Early detection improves chances of effective treatment and survival.

The global Lung Cancer Diagnostic And Screening Market is estimated to be valued at US$ 2458.7 Mn in 2023 and is expected to exhibit a CAGR of 10.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:
The growth of the lung cancer diagnostic and screening market is attributed to rising risk factors such as smoking, growing geriatric population and technological advancements in diagnostic tests. As per WHO, globally over 1.8 million new cases occur each year. Advancing age is a major risk factor, with 80-90% cases occurring in individuals over 50 years. Increasing median age results in rising risk. Technological advancements have improved imaging capabilities for early detection. Developments such as low-dose computed tomography scan (LDCT or low-dose CT) provide high resolution images while exposing patients to lower radiation. It has emerged as a standard screening tool owing to its high sensitivity and is increasingly adopted. Moreover, growing number of programs for lung cancer screening are undertaken to promote early detection.

SWOT Analysis

Strengths: Lung Cancer Diagnostic And Screening Market has three main strengths. It has highly advanced screening and diagnostic technologies that help detect lung cancer at an early stage. These include low-dose CT scanning, molecular testing and tumor biomarkers. Early detection greatly improves the chances of successful treatment. Furthermore, increasing awareness about lung cancer and availability of lung cancer screening programs are encouraging more people to go for regular checkups.

Weaknesses: However, the market also has some weaknesses. First, lung cancer screening is a lengthy and expensive process involving multiple tests and scans. This high cost deters many people from opting for regular screening. Additionally, not all screening tests are fully covered by insurance policies, imposing significant out-of-pocket costs on patients.

Opportunities: The market has two major growth opportunities. Growing consumption of tobacco, which is a primary cause of lung cancer, is increasing the potential patient population. There is also a rise in pollution and other environmental risk factors for lung cancer. Further research into disease genetics and development of new biomarkers provide scope for more accurate screening and diagnosis.

Threats: Two key threats face this market. Alternative screening methods with comparable accuracy but lower costs are being developed, threatening market share of existing technologies. Also, various social initiatives to curb tobacco use can lower incidence of lung cancer over the long run, reducing potential patient numbers.

Key Takeaways:

The Global Lung Cancer Diagnostic And Screening Market Size is expected to witness high growth, exhibiting CAGR of 10.1%  over the forecast period, due to increasing incidence of lung cancer worldwide. Rapid urbanization, surge in pollution levels and growing tobacco consumption are major drivers propelling the lung cancer epidemic.

Regional analysis: North America currently dominates the global market, owing to high awareness, favorable reimbursement policies and significant per capita healthcare spending. However, Asia Pacific is emerging as the fastest growing region on back of rising environmental pollution, large patient population and improving access to screening services in major countries like China and India.

Key players: Key players operating in the Lung Cancer Diagnostic And Screening market are Abbott, Illumina, Inc., Thermo Fischer Scientific, QIAGEN, Quest Diagnostics Incorporated, NeoGenomics, NanoString, Myriad Genetics Inc. , F. Hoffmann-La Roche Ltd, Danaher, Agilent Technologies, Inc., AstraZeneca, Sanof

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