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Oct 6, 2020 11:00 AM ET

Global Lung Cancer Diagnostics Market Set for Rapid Growth, to reach Value USD 1.96 Billion By 2025


iCrowd Newswire - Oct 6, 2020

Zion Market Research has published a new report titled “Lung Cancer Diagnostics Market by Type (Non-small Cell Lung Cancer and Small Cell Lung Cancer) and Test (Biopsy, Imaging Test, Molecular Test, Sputum Cytology, and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2019 – 2025” According to the report, global demand for lung cancer diagnostics market was valued at approximately USD 1.96 billion in 2018, and is expected to generate revenue of around USD 3.32 billion by end of 2025, growing at a CAGR of around 7.9% between 2019 and 2025.

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Lung cancer is a type of cancer which starts in the lungs. Lungs execute a vital task of taking in oxygen and discharging carbon dioxide. Lung cancer is the predominant cause of cancer demises worldwide. Cigarette smoking is a key factor that can lead to lung cancer. Passive smoking also leads to development of lung cancer in non-smokers. Other causes of lung cancer are exposure to asbestos fibers and radon gas. Non-small cell lung cancer and small cell lung cancer are the two types of lung cancer. As per statistics from the American Cancer Society, there will be about 228,000 new cases of lung cancer in the U.S. in 2019. Tests like chest x-ray, CT scan, MRI, PET scan, sputum cytology, bone scan, and biopsy are performed to diagnose lung cancer.

Factors such as development of biomarkers specific to lung cancer, high number of awareness programs undertaken by government and non-governmental organizations, efforts taken to increase the diagnosis and screening rates of lung cancer, heavy use of tobacco in some regions, and technological advancements will act as major driving factors in the growth of global lung cancer diagnostics market. Strong pipeline of biomarkers and favorable government policies in developing regions will act as an opportunity for the market players in the lung cancer diagnostics market. Nonetheless, dearth of skilled personnel, and lack of awareness regarding early screening of lung cancer in low income countries will restrict the growth of global lung cancer diagnostics market.

The global lung cancer diagnostics market has been split into type, test. Based on type, lung cancer diagnostics market has been segmented into non-small cell lung cancer and small cell lung cancer. The non-small cell lung cancer segment accounted for the highest market share in 2018 due to accessibility of new lung cancer diagnostics that enable the detection of big tumor developments.

The test segment has been segmented into biopsy, imaging test, molecular test, sputum cytology, and others. The imaging test segment accounted for the highest market share in 2018 due to repeated use of imaging techniques like x-ray, CT, and MRI.

The geographical segmentation comprises the current and forecast demand for North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America will be the leading region during the forecast period. Development of technology-enabled diagnostics, presence of leading market players, and rapid uptake of new technologies will boost the market growth in this region. Europe will be the second largest market. The key reasons are existence of skilled researchers, increase in awareness about early screening of lung cancer, and favorable reimbursement scenario. Asia Pacific will propagate at speedy rate over the forecast period due to increasing cases of lung cancer due to heavy use of tobacco and efforts taken by various agencies to create awareness regarding early diagnosis of lung cancer. Latin America market will develop at a significant rate during the forecast period. The Africa and Middle Eastern countries are likely to experience perceptible growth in the estimated time-frame.

The report also includes detailed profiles of key players such as Roche Diagnostics, bioMérieux, Thermo Fisher Scientific, Illumina Inc., Qiagen N.V., Agilent Technologies, Sanofi S.A., AstraZeneca plc, and Janssen among others.

This report segments the Global Lung Cancer Diagnostics Market as follows:

Global Lung Cancer Diagnostics Market: By Type

Non-small Cell Lung Cancer

Small Cell Lung Cancer

Global Lung Cancer Diagnostics Market: By Test

Biopsy

Imaging Test

Molecular Test

Sputum Cytology

Others

Global Lung Cancer Diagnostics Market: By Region

North America

U.S.

Europe

UK

France

Germany

Asia Pacific

China

Japan

India

Latin America

Brazil

Middle East and Africa

To view TOC of this report is available upon request @  https://www.zionmarketresearch.com/toc/lung-cancer-diagnostics-market 



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Keywords:    Lung Cancer Diagnostics Market

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