Lung Cancer Diagnostics Market

Lung Cancer Diagnostics Market Size (2023 to 2028)

The global lung cancer diagnostics market size is estimated to be worth USD 5.39 billion by 2028 from USD 4.08 billion in 2023, growing at a CAGR of 5.75% from 2023 to 2028. 

Impact of COVID-19 on the global lung cancer diagnostics market:

Lung cancer is a prevalent type of cancer. As the lifestyles of populations become more reckless and cigarette smoking becomes a general stress relief pattern among the younger generations, a lung cancer diagnostic is needed to test the presence of cancer cells in the lungs. There were around 2.21 million cases of mung cancer registered in 2022, and the numbers are still growing. There are several ways in which lung cancer can be tested. The most common way is the imaging diagnostics like MRI, X-RAY, and C.T. scans. Some other test techniques are sputum cytology; testing the sputum for cancer cells and tissue samples; collecting the cancer tissue sample; this is done through multiple ways of biopsy like bronchoscopy, Mediastinoscopy, and needle biopsy. There are also additional diagnostic procedures to determine the stages of cancer, like positron emission tomography (PET) and bone scans, along with standard imaging tests like MRI and C.T. scans. 

Covid-19 had a significant impact on multiple industries and brought economic losses worldwide. The healthcare department was one of the most significantly impacted industries due to the lack of resources and the rapid influx of hospital patients. All the other departments of the hospitals were temporarily put on hold, and complete attention was shifted toward the covid patients. All surgeries and other diagnostic and consultation facilities were temporarily halted, leading to losses for many sectors of medicine like orthopedics, dentistry, gastroenterology, and ENT. However, the lung cancer diagnostic market remained positive and received a good impact from the pandemic due to covid-19 being a lung-related disorder and the virus accumulating in the chest area. As most of the symptoms of the disease were similar to severe cold, the need for a lung diagnostic to gauge the seriousness of the situation as patients with lung cancer were at more risk of contracting the disease. However, the market also received some set back as diagnostics procedures were not concentrated on due to a lack of personnel. 

MARKET DRIVERS:

The growing patient count suffering from lung cancer is one of the major factors propelling the lung cancer diagnostics market growth.

Lung cancer is a leading cause of death among many people across the world. The rise in the prevalence of smoking and alcohol consumption is a significant factor in lung disorders. According to an article published in the National Center for Biotechnology Information (NCBI), around 154,000 American deaths yearly are due to lung cancer, particularly in the U.S. Lung cancer is high coms due to breast and prostate cancers. World Health Organization (WHO) has established safe levels of air pollution where thousands of cities have air pollution significantly higher than the levels. As a result, billions of people are exposed to dangerous air, which is associated with an increase in lung cancer cases. According to a recent survey, around 8.5 million deaths are occurring due to exposure to air pollution. World Health Organization (WHO) stated that approximately 80% of the total population is addicted to smoking worldwide, which is a significant factor in lung cancer.

In addition, the growth of the lung cancer diagnostics market is driven by the growing incidence of cancer and the high demand for early diagnosis. Furthermore, the increased awareness among the population and the rise of public and private funds for R&D activities to get better tumor diagnostic tools favor the growth rate of the lung cancer diagnostics market. Furthermore, the growing number of deaths due to lung cancer and the growing prevalence of the development of new diagnostic procedures are supporting the market's growth rate. For instance, funded research such as the ALCHEMIST NCI trial, Lung-MAP trial, Small Cell Lung Cancer Consortium, and Lung Cancer Specialized Programs of Research Excellence support the market growth. 

The rising advancements in treatment procedures for lung cancer diagnostics support the market's growth. In addition, the growing NCI-funded research for the diagnosis and treatment of lung cancers supports the demand for the market. For example, the recent attempts for machine learning diagnostic procedures and detecting lung cancers through Ai technology promote market growth. Research has previously created an Ai technology with 97% accuracy in detecting lung cancers, showing that this procedure has high potential. The advances in treatment procedures like the immune checkpoint inhibitor, anaplastic lymphoma inhibitor, targeted therapies, EGFR inhibitors, ROS1 inhibitors, BRAF inhibitors, and others. 

MARKET RESTRAINTS:

High costs associated with treating lung cancer are one of the major factors hampering the market growth. The treatment procedures are expensive, which ordinary people cannot afford. In addition, fewer reimbursement policies in undeveloped countries and a lack of skilled professionals inhibit the market's growth rate.  

REPORT COVERAGE

This market research report on the global lung cancer diagnostics market has been segmented based on the technology, application, and region.

Lung Cancer Diagnostics Market – By Type:

• Small cell
• Non-small cell

Based on the type, the non-small cell segment is estimated to account for the largest share of the global lung cancer diagnostics market during the forecast period. The growing R&D activities and an increasing geriatric population promote the market's growth rate. Along with this, the rising demand to lower the risk due to lung cancer by diagnosing it at an early stage is merely to leverage the market's growth rate. 

However, the small cell type is also expected to grow as 15% of all lung cancers are small cell lung cancers. It is a very deadly type of lung cancer and requires intense treatment procedures through multiple therapies and sittings, leading to market growth. Additionally, the growing research in the field also supports segment growth. For example, NCI-funded research, like the Small Cell Lung Cancer Consortium, is expected to support the segment's growth. 

Lung Cancer Diagnostics Market – By Test:

• Imaging test
• Sputum cytology
• Biopsy
• Molecular testing

Based on the test segment, the imaging test segment is predicted to lead the market during the forecast period due to increasing incidences of chronic diseases and growing awareness of the availability of treatment procedures. In addition, adopting the latest technologies in imaging systems is leveraging the market's growth rate. 

Molecular testing is holding second place in ruling the shares of the market. However, ongoing research in developing effective diagnostic procedures to find the abnormalities at an early stage is prompting the growth rate of this segment to the extent.

Lung Cancer Diagnostics Market – By Region:

• North America
  • The United States
  • Canada
  • Rest of North America
• Europe
  • United Kingdom    
  • Germany
  • Spain
  • Italy
  • France
  • Rest of Europe
• Asia Pacific
  • India
  • China
  • Japan
  • ANZ
  • South Korea
  • Rest of APAC
• Latin America
  • Mexico
  • Brazil
  • Argentina
  • Chile
  • Rest of Latin America
• Middle East
• Africa

Geographically, the North American region led the market in 2022 and will continue the same flow in the foreseen years. Factors like rising initiative steps by the government and the adoption of advanced technology are majorly propelling the market demand in this region. Additionally, adopting sedentary lifestyles and food habits changes are likely to fuel the market's direction. The U.S. has the dominant share of the market. However, an increasing number of patients diagnosed with lung cancer is leveling up the market's growth rate. In the U.S., around 215,951 million people were diagnosed with lung cancer disease, and 155,526 people lost their lives due to this disease. Europe is next to North America, leading the highest shares of the market by constant economic growth and rising disposable income.

Europe is projected to grow at a healthy CAGR during the forecast period. Also, government investments in developing new products are ascribed to boost lung cancer diagnostics market growth. In addition, rising healthcare expenditure and the growing need to diagnose diseases at the initial stages are likely to propel market growth.

The Asia Pacific is expected to grow at a higher rate in the coming years with the increasing geriatric population and the demand to promote quality treatment procedures. China is the primary country to contribute the highest shares of the market. China is growing at a CAGR of 11.4% from 2020 to 2025. Increasing incidences of chronic illness and rising public and private organizations' support are anticipated to set growth opportunities for the market. India is deemed to have high growth opportunities in the coming years with the increasing population and growing funds from the government in the healthcare sector. 

KEY MARKET PARTICIPANTS:

Roche Diagnostics, bioMérieux, Qiagen N.V., Thermo Fisher Scientific, Agilent Technologies, and Sanofi S.A. are noteworthy companies dominating the lung cancer diagnostics market.

RECENT MARKET HAPPENINGS:

• In 2020, a COVID-19 screening test named ''Droplet Digital PCR' was launched by Biodesix Inc. This diagnostic tool has received approval from the food and drug administration. The launch of this product has increased the product portfolio of the company.
• In February 2020, Cepheid announced that it signed an agreement with Sherlock Biosciences to introduce effective and innovative diagnostic test kits for the oncology department. 
• In February 2023, the Massachusetts Institute of Technology (MIT) and Mass General Hospital (MGH) created a deep learning technology called “Sybil” that is expected to predict lung cancer from only one C.T. scan. This Ai system that can detect lung cancer is deemed extremely important for the future of the diagnostic market.