BIS Research Study Highlights the Global Lung Cancer Genomic Testing Market to Reach $3.28 Billion by 2031

iCrowdNewswire May 26, 2022 9:00 AM ET

The global lung cancer genomic testing market is projected to reach $3.28 billion in terms of revenue by 2031 at a CAGR of 8.97%, reveals the premium market intelligence study by BIS Research.

Lung cancer genomic testing products and services represent a great deal of progress while mentioning clinical advancements in lung cancer.

Majority of the players in the global lung cancer genomic testing market offer products encompassing kits, assays, and services. The lung cancer genomic testing market employs the use of in-vitro diagnostic (IVDs) and laboratory-developed tests (LDTs) that include next-generation sequencing (NGS), polymerase chain reaction (PCR), and fluorescence in-situ hybridization (FISH), and immunohistochemistry (IHC) based test.

Oncology-based testing services dominated the overall lung cancer genomic testing in the year 2020, followed by the products.

To gain a holistic view of the market, data from different segments of the market has been analyzed minutely. These segments include products, technology, end-user, and region. Each of these segments is further categorized into sub-segments and micro-segments to compile an in-depth study.

The detailed study is a compilation of 08 Market Data Tables and 191 Figures spread through 244 Pages and in-depth TOC on “Lung Cancer Genomic Testing Market – Analysis and Forecast, 2021-2031”

USP of the Report

This extensive report can help in the following ways:

Offers detailed information on the future perspective of the emerging as well as established players.
Offers go-to-market strategies for the different source types.
Helps in analyzing technological substitutes and comparing the specification of various ecosystems and applications.
Offers tailor-made solutions based on the throughput of different consumers.
Assists in exploring the newer application.
Supports in analyzing the competitors’ funding scenario.
Aids in understanding the new trends in the genetic testing industry.

Analyst’s Take on the Market:

According to Nitish Kumar Singh, Principal Analyst – BIS Research, states, “North America is the leading contributor to the global lung cancer genomic testing market. It contributed approximately 56.54% to the global market value in 2020. This region is anticipated to grow at a CAGR of 9.05% during the forecast period 2021-2031 and will continue dominating the global market in 2031. However, the Asia-Pacific region is expected to grow at an impressive CAGR of 11.30% during the forecast period 2021- 2031.”

View the report from BIS Research on Global Lung Cancer Genomic Testing Market

Key Companies Operating in the Market and Competition Landscape

Key insights are drawn from in-depth interviews with the key opinion leaders of more than 15 leading companies, market participants, and vendors. The key players profiled in the report include Illumina, Inc., QIAGEN, Fulgent Genetics, F. Hoffmann-La Roche AG, Agilent Technologies Inc., OncoDNA, ARUP Laboratories, Veracyte Inc., and CD Genomics.

The study also offers strategic recommendations that can help organizations track various products, trends, and product types that are changing the dynamics of the market. The recommendations by BIS Research also offer bespoke research services to help organizations meet their objectives.

Who Should Buy This Report?

Lung cancer genomic testing products and services manufacturers who are planning to invest in one of the large established markets.
Companies involved in the ecosystem of lung cancer genomic testing products and services.
Companies in the lung cancer genomic testing market.
Companies involved in developing treatment regimens for lung cancer diagnosis.

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Key Questions Answered in the Report:

How are lung cancer genomic testing products and services revolutionizing the field of lung cancer diagnosis field?
What are the major market drivers, challenges, and opportunities in the global lung cancer genomic testing market?
What are the underlying structures resulting in the emerging trends within the global lung cancer genomic testing market?
How did the COVID-19 pandemic impact the global lung cancer genomic testing ecosystem?
What are the key development strategies that are being implemented by major players in order to sustain themselves in the competitive market?
What are the key regulatory implications in developed and developing regions pertaining to the use of lung cancer genomic testing services?
What are the potential entry barriers that are expected to be faced by companies willing to enter a particular region?
What are the growth opportunities for companies in the region of their operation?
Who are the leading players with significant offerings in the global lung cancer genomic testing market?
Which companies are anticipated to be highly disruptive in the future and why?

BIS Research Related Market Studies:

Global Companion Diagnostics Market

US Solid Tumor Testing Market

About BIS Research:

BIS Research is a global B2B market intelligence and advisory firm focusing on deep technology and related emerging trends which can disrupt the market dynamics in the near future. We publish more than 200 market intelligence studies annually that focus on several deep technology verticals.

Our strategic market analysis emphasizes on market estimations, technology analysis, emerging high-growth applications, deeply segmented granular country-level market data, and other important market parameters useful in the strategic decision-making for senior management.

BIS Research offers syndicate as well as custom studies and expert consultations to firms, providing them specific and actionable insights on novel technology markets, business models, and competitive landscape.

BIS Healthcare vertical offers intelligence in the healthcare technology market for Medical Devices, Digital Health, Life Sciences, Robotics and Imaging, Information Technology, Precision Medicine, and other emerging healthcare technologies, covering the entire industry spectrum. In the past 5 years, BIS Healthcare has published more than 50 reports under the precision medicine banner. Additionally, BIS Research has been nominating Top 25 Voices in Precision Medicine on its Insight Monk platform for the past two years successfully.

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