Lung Cancer Diagnostics Market

Global Lung Cancer Diagnostics Market is valued at USD 16.14 Billion in 2022 and it is expected to reach USD 26.78 Billion by 2029 with a CAGR of 7.5% over the forecast period.

Global Lung Cancer Diagnostics Market: Global Size, Trends, Competitive, and Historical & Forecast Analysis, 2023-2029. The market will expand due to the increasing prevalence of lung cancer, advancements in diagnostic technologies, and government initiatives and funding for cancer research.

Scope of Global Lung Cancer Diagnostics Market Report-

Lung Cancer Diagnostics refers to the methods, techniques, and tools used to detect and diagnose lung cancer, a type of cancer that originates in the tissues of the lungs. Lung cancer is a leading cause of cancer-related deaths worldwide, and early diagnosis plays a crucial role in improving patient outcomes.

The history of lung cancer diagnostics can be traced back to the discovery of X-rays in the late 19th century, which allowed for the visualization of lung abnormalities. Over the years, advancements in imaging technologies such as computed tomography (CT) scans, magnetic resonance imaging (MRI), and positron emission tomography (PET) scans have revolutionized lung cancer diagnostics, enabling more accurate detection and staging of lung tumors.

In recent years, molecular testing techniques, such as polymerase chain reaction (PCR) and next-generation sequencing (NGS), have gained prominence in lung cancer diagnostics, allowing for the identification of specific genetic mutations and alterations in lung cancer cells.

Lung cancer diagnostics are used in various clinical settings, including hospitals, diagnostic centers, and research laboratories. These are employed for screening, diagnosis, staging, and monitoring of lung cancer. Diagnostic tests for lung cancer may include imaging tests such as chest X-rays, CT scans, MRI, and PET scans, as well as molecular testing to identify genetic mutations and alterations in lung cancer cells. The end users of lung cancer diagnostics include healthcare providers, oncologists, pathologists, radiologists, and researchers involved in lung cancer diagnosis and treatment.

The alarming rise in the prevalence of lung cancer has become a cause of concerns for numerous nations. This ailment typically results from abnormal cell growth in our lungs. Unhealthy lifestyle habits like excessive smoking along with exposure to environmental contaminants are known to be the primary factors triggering this devastating disease. Early diagnosis and management of lung cancer act as live saving entities for patients. Medical research organizations, government bodies, and public welfare associations from across the globe are making extensive efforts in developing advanced diagnostic tools and treatment therapeutics for lung cancer. Among the array of treatments available, radiation therapy has brought about a significant transformation in the lung cancer treatment therapeutics. This therapy involves the precise delivery of high-energy rays to the tumor, thereby destroying or damaging the cancer cells' DNA and inhibiting their capacity to grow and divide.

Covid-19 Impact on the Global Lung Cancer Diagnostics Market:

The Covid-19 pandemic has had a significant impact on the global healthcare industry, including the lung cancer diagnostics market. The impact of Covid-19 on lung cancer diagnostics can be both positive and negative. On the one side, the Covid-19 pandemic has accelerated the adoption of digital and telemedicine technologies for lung cancer diagnostics, allowing healthcare providers to conduct remote consultations, monitor patients, and share diagnostic information with other healthcare professionals. This has enabled greater access to lung cancer diagnostics, particularly in areas with limited healthcare infrastructure or where social distancing measures are in place.

However, on the other side, the Covid-19 pandemic has also resulted in delays or cancellations of non-urgent diagnostic procedures, including lung cancer diagnostics, as healthcare resources were diverted toward Covid-19 patients. This has led to a backlog of cases and delayed diagnoses, which could result in poorer patient outcomes.

Moreover, the COVID-19 pandemic has also disrupted global supply chains for diagnostic equipment and reagents, leading to shortages and price increases for some lung cancer diagnostic products. The pandemic has also impacted the funding and prioritization of research and development for new lung cancer diagnostic technologies, as resources have been diverted toward Covid-19 research.

Key Players of Global Lung Cancer Diagnostics Market Report-

Some major key players for the global lung cancer diagnostics market report cover prominent players like 

• Roche Diagnostics
• Thermo Fisher Scientific Inc.
• Abbott Laboratories
• Agilent Technologies Inc.
• Illumina Inc.
• GE Healthcare
• Siemens Healthineers
• Qiagen N.V.
• Bio-Rad Laboratories Inc.
• Hologic Inc.
• Cepheid Inc.
• BD (Becton, Dickinson, and Company)
• Biocept Inc.
• Genomic Health Inc.
• Foundation Medicine Inc.
• Sysmex Corporation
• Invivoscribe Inc.
• NeoGenomics Laboratories Inc.
• Janssen Diagnostics LLC
• Myriad Genetics Inc.
• Genentech Inc.
• PerkinElmer Inc.
• Koninklijke Philips N.V.
• Guardant Health Inc.
• Biocartis Group NV
• Natera Inc.
• Oncocyte Corporation
• Veracyte Inc.
• Menarini Silicon Biosystems
• Epic Sciences Inc.

Market Segmentation

By Product:

• Instruments
• Consumables & Accessories

By Test Type:

• Biomarkers Tests
  • EGFR MutationTest
  • KRAS Mutation Test
  • ALK Test
  • HER2Test
  • Others
• Imaging Test
  • X-ray
  • Computed Tomography (CT) Scan
  • Magnetic Resonance Imaging (MRI)
  • Positron Emission Tomography (PET) Scan
• Biopsy
  • Fine Needle Aspiration (FNA) Biopsy
  • Core Needle Biopsy
  • Bronchoscopy
• Liquid biopsy tests
  • Circulating Tumor DNA (Ctdna) Testing
  • Circulating Tumor Cells (Ctcs) Testing
• Others

By Cancer Type:

• Non-Small Cell Lung Cancer
• Small Cell Lung Cancer

By Technology:

• Next-generation sequencing (NGS)
• Polymerase chain reaction (PCR)
• Immunohistochemistry (IHC)
• In situ hybridization (ISH)
• Others

By End-User:

• Hospital
• Associated Labs
• Independent Diagnostic Laboratories
• Diagnostic Imaging Centers
• Cancer Research Institutes
• Others

Revenue Generation Model:

The revenue generation model of the lung cancer diagnostics market is primarily based on the sales of diagnostic tests and equipment used for the detection and diagnosis of lung cancer. This includes revenue from the sale of imaging equipment, molecular testing kits, reagents, and consumables used in lung cancer diagnostics. Additionally, service and maintenance contracts, as well as licensing and royalties from intellectual property rights associated with lung cancer diagnostic technologies, can also contribute to the revenue generation model.

Supply Chain Analysis:

The supply chain for lung cancer diagnostics typically involves several stakeholders, including manufacturers of imaging equipment, molecular testing kits, reagents, and consumables, as well as distributors, wholesalers, and healthcare providers who purchase and use these products. The supply chain also includes regulatory bodies that provide approvals and certifications for lung cancer diagnostic products, and research institutions that contribute to the development of new technologies and innovations in lung cancer diagnostics.

Value Chain Analysis:

The value chain for lung cancer diagnostics encompasses the entire process of creating, distributing, and delivering value to end users. This includes research and development of new diagnostic technologies, manufacturing, and production of diagnostic products, marketing and sales efforts to promote these products, distribution, and logistics to deliver products to end users, and after-sales services such as technical support and maintenance. Each stage of the value chain adds value to the final product and contributes to the overall value proposition for lung cancer diagnostic solutions.

Market Drivers:

Increasing prevalence of lung cancer: According to the World Health Organization (WHO), lung cancer is the most commonly diagnosed cancer and the leading cause of cancer-related deaths worldwide. In 2020, there were an estimated 2.2 million new cases of lung cancer and 1.8 million deaths from lung cancer globally.

Growing awareness about the importance of early detection and diagnosis of lung cancer has led to increased screening and testing, especially among high-risk populations such as smokers and individuals with a family history of lung cancer. The American Cancer Society (ACS) states that smoking is the most important risk factor for lung cancer, and it is responsible for about 85% of all cases of lung cancer in the United States.

Advancements in diagnostic technologies: The development and adoption of advanced diagnostic technologies, such as molecular diagnostics, next-generation sequencing (NGS), liquid biopsy, and imaging techniques, have improved the accuracy and efficiency of lung cancer diagnostics.

For example; in 2020, the FDA granted accelerated approval to the Guardant360 CDx liquid biopsy assay, developed by Guardant Health, Inc., for comprehensive genomic profiling of patients with advanced non-small cell lung cancer (NSCLC) to detect genetic mutations that may guide targeted therapy selection. These advancements have enabled early detection, precise diagnosis, and personalized treatment selection, driving the demand for lung cancer diagnostics.

Government initiatives and funding for cancer research: The increasing investments in cancer diagnostics by various companies and institutions for research, development, and commercialization of innovative diagnostic technologies is also driving the market growth. For example; in 2021, Illumina announced a $1.4 billion investment in GRAIL, a company focused on developing liquid biopsy-based cancer diagnostic tests. This investment aimed to support the advancement of liquid biopsy technologies for early cancer detection. Government initiatives, funding, and collaborations with research institutions and healthcare providers are driving the development and adoption of lung cancer diagnostics.

Market Restraints:

High cost of diagnostics: Some advanced lung cancer diagnostic technologies can be expensive, making them less accessible to certain patient populations or healthcare systems with limited resources. The high cost of diagnostics may hinder the widespread adoption of advanced lung cancer diagnostic technologies, especially in developing regions.

Limited reimbursement policies: Reimbursement policies for lung cancer diagnostics can vary across different countries and regions, and may not always fully cover the cost of certain diagnostic tests or technologies. Limited reimbursement policies can create financial barriers for patients and healthcare providers, impacting the demand for lung cancer diagnostics.

Market Opportunities:

Growing Adoption of Precision Medicine: Precision medicine, which involves tailoring treatments based on individual patient characteristics, including molecular profiling, is gaining traction in cancer care, including lung cancer. This trend creates opportunities for the development of companion diagnostics that can identify specific biomarkers for targeted therapies, guiding personalized treatment decisions.

Increasing adoption of minimally invasive procedures: Minimally invasive diagnostic procedures, such as image-guided biopsies and bronchoscopy, are gaining popularity due to their advantages such as reduced morbidity, quicker recovery, and improved patient comfort. The increasing adoption of minimally invasive procedures is expected to create opportunities for lung cancer diagnostic tools and technologies that support these procedures.

Market Trend:

Product and Technology Development:

Liquid Biopsies: Liquid biopsies, which involve the analysis of circulating tumor DNA (ctDNA) or other biomarkers in blood, are gaining popularity as a non-invasive and convenient method for early detection, monitoring treatment response, and detecting resistance mutations in lung cancer. There is a growing trend toward the development of liquid biopsy-based lung cancer diagnostics, including blood-based tests for genetic mutations, gene rearrangements, and other molecular alterations.

Next-Generation Sequencing (NGS): NGS is a rapidly evolving technology that enables the simultaneous detection of multiple genetic mutations, gene fusions, and other alterations in a single test. NGS-based lung cancer diagnostics are gaining prominence due to their ability to provide comprehensive and actionable information for treatment decision-making, as well as their potential for detecting rare mutations and resistance mechanisms.

Customer Trends:

Non-Invasive Testing: Patients and healthcare providers are also showing a preference for non-invasive testing methods, such as liquid biopsies, as they offer convenience, minimal discomfort, and reduced risk of complications compared to invasive procedures like tissue biopsies. There is a growing demand for non-invasive lung cancer diagnostics that can provide accurate and reliable results from easily accessible samples, such as blood or urine.

Integration of Digital Health Solutions: Patients and healthcare providers are increasingly leveraging digital health solutions, such as telemedicine, remote monitoring, and mobile apps, for managing lung cancer care. This trend is driving the demand for lung cancer diagnostics that can be seamlessly integrated into digital health platforms, enabling remote access to test results, data sharing, and decision-making.

Market Competition Nature:

Competition in the lung cancer diagnostics market is fierce, with key market players employing various strategies to gain a competitive edge. Some past and future strategies that have been or could be employed by key market players include:

Product Innovation: Key market players strive to develop and launch innovative lung cancer diagnostic products that offer improved accuracy, sensitivity, and specificity. This includes the development of new biomarkers, molecular diagnostic assays, and imaging techniques to enhance the detection and characterization of lung cancer.

Strategic Collaborations and Partnerships: Key market players may form collaborations and partnerships with other companies, academic institutions, or research organizations to access new technologies, expertise, and resources for lung cancer diagnostics. This can help to accelerate product development, expand market reach, and gain a competitive advantage.

Mergers and Acquisitions: Key market players may engage in mergers or acquisitions to expand their product portfolio, enter new markets, or gain access to proprietary technologies or intellectual property related to lung cancer diagnostics. This can provide them with a competitive advantage by enhancing their capabilities, customer base, and market share.

Focus on Customer Needs: Key market players may focus on understanding and addressing the specific needs and preferences of their customers, such as healthcare providers, patients, and payers. This may involve the customization of products or services, providing excellent customer support, and offering value-added services to differentiate themselves from competitors.

Geography Analysis:

North America:

North America is expecetd to show a significant growth in the global lung cancer diagnostics market. The high prevalence of lung cancer in North America, along with favorable reimbursement policies and government initiatives for cancer screening and early detection, has driven the demand for lung cancer diagnostic tests.

For example; in 2021, it was estimated that there would be about 235,760 new cases of lung cancer and approximately 131,880 deaths from lung cancer in the United States alone. Additionally, the presence of key market players, advanced technologies, and strong R&D activities in the region further contribute to the growth of the lung cancer diagnostics market in North America.

Furthermore, the increasing adoption of advanced diagnostic technologies, such as molecular diagnostics and imaging techniques, in North America has led to improved accuracy, sensitivity, and specificity of lung cancer diagnostics. The use of biomarkers, genetic testing, and liquid biopsy for lung cancer detection has gained significant traction in the region, leading to earlier diagnosis and personalized treatment approaches.

For example; in 2021, Illumina, partnered with the American Lung Association to launch a research initiative called "LUNGevity" to accelerate the development of liquid biopsy tests for early detection of lung cancer.

Europe:

Europe is a significant market for lung cancer diagnostics, owing to the increasing prevalence of lung cancer, and high healthcare expenditure. Europe is home to a large population of smokers and has a high prevalence of lung cancer cases, making lung cancer diagnostics a critical area of focus for healthcare providers and policymakers. According to the European Commission, smoking-related healthcare costs and lost productivity due to premature deaths and illnesses related to smoking were estimated to be over €100 billion per year in the EU.

The European market for lung cancer diagnostics is characterized by the presence of established key players, including major multinational companies and local players. These companies are actively engaged in research and development (R&D) to develop innovative lung cancer diagnostic products, including molecular diagnostics, imaging techniques, and other advanced diagnostic tools.

In recent years, there has been a growing emphasis on personalized medicine in lung cancer diagnostics, with the integration of molecular diagnostics, genomic profiling, and targeted therapies.

A study published in the European Respiratory Journal in 2020 titled "The European Initiative for Quality Management in Lung Cancer Care" emphasized the importance of personalized medicine in lung cancer diagnostics. This trend has led to the development of precision medicine approaches for lung cancer, where diagnostic tests are used to identify specific genetic mutations or biomarkers to guide treatment decisions, leading to improved patient outcomes.

Key Benefits of Global Lung Cancer Diagnostics Market Report–

• Global Lung Cancer Diagnostics Market report covers in-depth historical and forecast analysis.
• Global Lung Cancer Diagnostics Market research report provides detailed information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market Opportunities, Competitive Analysis, and Regional and Country Level.
• Global Lung Cancer Diagnostics Market report helps to identify opportunities in the marketplace.
• Global Lung Cancer Diagnostics Market report covers an extensive analysis of emerging trends and the competitive landscape.