Global Lung Cancer Diagnostics Market: Industry Analysis and Forecast (2020-2026)
Global Lung Cancer Diagnostics Market size was valued at US$ XX Bn in 2019 and the total revenue is expected to grow at 11.3% through 2020 to 2026, reaching nearly US$ 26.6 Bn.
The global Lung Cancer Diagnostics market report is a comprehensive analysis of the industry, market, and key players. The report has covered the market by demand and supply-side by segments. The global Lung Cancer Diagnostics report also provides trends by market segments, technology, and investment with a competitive landscape.
2019 is considered as a base year to forecast the market from 2021 to 2026. Due to the COVID-19, the pandemic market is not stable it’s fluctuated due to this reason we consider 2019 as a base year. Though a market forecasting through 2026 is based on real output, a demand, and a supply of 2019, 2020 numbers are also estimated on real numbers published by key players as well all-important players across the world.
Global Lung Cancer Diagnostics Market Overview:
The global lung cancer diagnostics market was valued at USD 17.2 billion in 2020 and is expected to reach USD 26.6 billion by 2026, at a CAGR of 11.3% during the forecasting period 2020-2026.
The lung cancer that begins in the lungs most often occurs in the people who smoke more. Some of the symptoms of lung cancer are caught with blood, chest pain, and weight loss. There are a lot of treatments available in hospitals. Still, the cost of that treatment is too high, so normal people do not afford that cost, so the government is decided to make government hospitals where anyone can give treatment free of cost.
Global Lung Cancer Diagnostics Market Dynamics:
Increasing the consumption of tobacco and rising cases of cervical cancer are increasing cancer cases, bolstering diagnostics prospects. Cervical cancer is the most common viral infection of the reproductive tract. Public and private associations, a joint effort to further develop a framework of analytic imaging communities, is driving a cellular breakdown in the lung of the demonstrative market. By the government and the health organization, they are trying to spread awareness about cancer globally. So it helps those people who show the same symptoms of cancer.
High cost of a diagnostic system is the restraining the growth of the market. Moreover due to insufficient experience people, it causes a challenge for the market.
Global Lung Cancer Diagnostics Market Segment Analysis:
The Global Lung Cancer Diagnostics Market is segmented into test, end-user, and indication.
On the basis of test, global lung cancer diagnostics market is sub-segmented biomarkers tests, imaging tests, and biopsy. In the Biomarkers test, it includes some test and they are EGFR Mutation Test, KRAS Mutation Test, ALK Test, HER2 Test, and others. In imaging test, also includes Computed Tomography (CT) Scan, Positron Emission Tomography (PET) Scan, Chest X-RAY, and others. The Biopsy segment also includes tests like Needle Biopsy, Bronchoscopy Biopsy, Open Biopsy, and others. Among all the tests Imaging Tests is a more important test for diagnosis of lung cancer because it is very easy to understand the position and the size of the tumor. Imaging Tests, one of the segments analyzed in the report, is projected to grow at 8% CAGR to reach US$2.2 Billion by the end of the analysis period.
Based on an end-user, the global lung cancer diagnostics market is sub-segmented into hospital associated labs, independent diagnostic laboratories, cancer research institutes, and others.
Global Lung Cancer Diagnostics Market 1
According to the MMR reports, the hospital segment held the largest shares, xx%, in 2019. As it delivers well-organized, documented, retrieved, and logistical procedures. Hence, the hospital segment is expected to show fast growth due to rising the number of private hospitals, including many facilities in the hospital, quick treatment, and professional doctors. So many consumers are turning towards hospitals.
Based on an indication, lung cancer is sub-segmented into non-small-cell lung cancer and small-cell lung cancer. Small cell cancers vary, depending on the expression of specific genes and cells. Generally, small cell cancer is more aggressive than non-small cell lung cancer. Non-small cell lung cancer (NSCLC) was identified as the largest segment, owing to the availability of novel diagnostic testing, detecting large tumor growths, and the most protuberant form in terms of occurrence, and accounting for nearly 81% of the disease. The reason behind that is the cancer virus directly attacks cells and stops flowing the blood, so due to less blood supply, people die. Nowadays, new technologies and treatments are going on, but the cost of that treatment is high.
• In May 2021 Olympus corporation launched BF-UC190F treatment model which is helpful for the recovering the lung cancer.
• In Feb 2020 Intuitive surgical Inc. acquired Orpheus Medical which is in US.
• In Oct 2020 KLS Martin Group which is in Germany they are opened a new training center for lung cancer patients at its site is in Florida.
Global Lung Cancer Diagnostics Market Regional Insights:
North America held the large share of the global lung cancer diagnostics market having xx% in 2019, and it can be attributed to the factors such as the increasing prevalence of cancer, rising recoveries in North America, and the introduction of favorable reimbursement policies, and there is some rule by the government in the US and Canada, due to all these North America lung cancer diagnostics market is growing. The data have provided by the National Cancer Institutes, which estimated the number of cases of cancer in the United Sated was 1.7 million in the year 2019, and it is expected to reach 20.3 million by 2026.
Global Lung Cancer Diagnostics Market 2
APAC has the second-largest market is had the share XX % in the year 2019. The Asia Pacific is expected to show a fastest growth rate in the global lung cancer diagnostics market in the last few years due to government policies and a rise in awareness of the manufactures about lung cancer diagnostics and their benefits.
The objective of the report is to present a comprehensive analysis of the global Lung Cancer Diagnostics market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.
PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding the global Lung Cancer Diagnostics market dynamics, structure by analyzing the market segments and project the global Lung Cancer Diagnostics market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global Lung Cancer Diagnostics market make the report investor’s guide.
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Global Lung Cancer Diagnostics Market Scope: Inquire before buying
Global Lung Cancer Diagnostics Market 3
Global Lung Cancer Diagnostics Market, by Region
• North America
• Asia Pacific
• Middle East and Africa
• South America
Global Lung Cancer Diagnostics Market Key Players
• Abbott Laboratories
• Agilent Technologies Inc.
• AMOY Diagnostics CO. LTD.
• Bio SB
• Bio-Rad Laboratories
• Biocartis NV
• bioMerieux SA
• Cancer Diagnostics Inc.
• Danaher Corporation
• DiaSorin S.P.A.
• Exact Science
• FUJIFILM Corporation
• GE Healthcare
• Hologic Inc.
• Myriad Genetics Inc.
• Quidel Corporation
• Roche Diagnostics
• Siemens Healthineers AG
• Vela Diagnostics
• Hoffmann-La Roche Ltd
• Thermo Fisher Scientific
• AstraZeneca plc
• Illumina Inc.
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