Lung Cancer Diagnostic And Screening Industry Insights 2025 – Market Forecast for Executives and Planners
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How Has the Lung Cancer Diagnostic And Screening Market Size Changed, over the years?
In recent times, the market size for lung cancer diagnosis and screening has seen a significant expansion. The market, projected to rise from $2.34 billion in 2024 to $2.56 billion in 2025, is set to have a compound annual growth rate (CAGR) of 9.6%. The former growth can be attributed to the influence of factors like the emergence of digital imaging, the standardizing of screening procedures, public health campaigns against tobacco consumption, the creation of cancer registries, and advancements in the field of pathology analysis.
How Much Will the Lung Cancer Diagnostic And Screening Market Be Worth in 2029?
In the coming years, it is anticipated that the market size of lung cancer diagnostics and screenings will experience robust growth. This growth is projected to reach a value of $3.69 billion by 2029, marking a compound annual growth rate (CAGR) of 9.5%. The projected growth during this forecast period is mainly due to factors such as an increase in lung cancer incidence, a growing concentration on early detection, the enlargement of high-risk screening programs, a move towards individualized medicine, and governmental support and funding. The forecast period is also expected to see major trends like the advent of innovative screening methods, advancements in biomarker testing, the incorporation of artificial intelligence (AI), a surge in the adoption of liquid biopsy, a focus on early stage detection, and an expansion of low-dose CT screening programmes.
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Which is the Largest Company in the Lung Cancer Diagnostic And Screening Market?
Major companies operating in the lung cancer diagnostic and screening market include Pfizer Inc., F. Hoffmann-La Roche AG, Bristol-Myers Squibb Company, Thermo Fisher Scientific Inc., AstraZeneca Plc, Abbott Laboratories Inc., Danaher Corporation, Siemens Healthcare GmbH, FUJIFILM Corporation, Koninklijke Philips N.V., GE Healthcare Bio Sciences AB, Quest Diagnostics Incorporated, Agilent Technologies Inc., Illumina Inc., Qiagen Inc., Myriad Genetic Laboratories Inc., NeoGenomics Laboratories Inc., Canon Medical Systems Corporation, OncimmuneHoldings Plc, Broncus Medical Inc., OncoCyte, Riverain Technologies LLC, VisionGate, Foundation Medicine Inc., Biodesix,
What Are the Main Market Drivers in the Lung Cancer Diagnostic And Screening Industry?
The anticipated growth of the lung cancer diagnostic and screening market is largely influenced by the rising occurrence of lung cancer. This aggressive disease, characterized by the unruly growth of abnormal cells in the lung tissues, manifests symptoms such as cough, chest pain, and difficulty in breathing. Lung cancer diagnosis and screening facilitate early detection of the disease, utilizing various tests such as the incisional biopsy and bronchoscopy. For example, the American Cancer Society, a governmental organization in the US, reported approximately 238,340 new lung cancer cases (comprising 117,550 men and 120,790 women) in January 2023. Furthermore, lung cancer claimed approximately 127,070 lives, with 67,160 men and 59,910 women. Consequently, the escalating incidence of lung cancer has been instrumental in fuelling the growth of the lung cancer diagnostic and screening market.
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How Is the Lung Cancer Diagnostic And Screening Market Segments Structured?
The lung cancer diagnostic and screening market covered in this report is segmented –
1) By Product: Instruments, Consumables And Accessories
2) By Test: Biomarkers Tests, Imaging Test, Biopsy, Blood Test, Other Tests
3) By Cancer Type: Non-Small Cell Lung Cancer, Small Cell Lung Cancer
4) By End User: Hospital, Independent Diagnostic Laboratories, Diagnostic Imaging Centers, Cancer Research Institutes, Other End-Users
Subsegments:
1) By Instruments: Imaging Devices, Biopsy Devices, Bronchoscopy Systems
2) By Consumables And Accessories: Biopsy Needles, Reagents And Assays, Imaging Contrast Agents, Patient Preparation Equipment, Sample Collection Kits, Laboratory Supplies
What Strategic Trends Are Transforming the Lung Cancer Diagnostic And Screening Market?
Leading corporations in the domain of lung cancer diagnosis and screening are focusing on creating innovations such as tests for lung cancer. The goal is to foster early detection, boost the precision of diagnosis and enable individualized treatment plans for patients who are at an elevated likelihood of contracting the disease. Lung cancer screenings are diagnostic processes developed to reveal the existence of lung cancer utilizing a variety of methods encompassing imaging, analysis of biomarkers, and cytological tests. For example, in December 2023, Freenome, a biotech firm based in the US, introduced PROACT LUNG. This trial acts as a hopeful indication of transformative changes in lung cancer screening, potentially triggering faster detection and improved results for patients. It also aims to address present shortcomings in the existing screening protocols.
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Which Global Regions Offer the Highest Growth in the Lung Cancer Diagnostic And Screening Market?
North America was the largest region in the lung cancer diagnostic and screening market in 2024. The regions covered in the lung cancer diagnostic and screening market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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This Report Delivers Insight On:
1. How big is the lung cancer diagnostic and screening market, and how is it changing globally?
2. Who are the major companies in the lung cancer diagnostic and screening market, and how are they performing?
3. What are the key opportunities and risks in the lung cancer diagnostic and screening market right now?
4. Which products or customer segments are growing the most in the lung cancer diagnostic and screening market?
5. What factors are helping or slowing down the growth of the lung cancer diagnostic and screening market?
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