Lung Cancer Diagnostic and Screening Market is Estimated to Witness High Growth Owing to Increasing Investments in Development of Noninvasive Diagnostic Techniques

Lung Cancer Diagnostic and Screening Market


Lung cancer diagnostic and screening involves identification of abnormalities or cancer in the lungs through various imaging techniques and biomarkers. Computed Tomography (CT) scans and low-dose computed tomography (LDCT) are commonly used for lung cancer screening as they can detect small nodules in the lungs at an early stage. Moreover, advances in genetic biomarkers, molecular testing, and imaging techniques are facilitating noninvasive diagnosis and better screening of lung cancer.


The Global Lung Cancer Diagnostic and Screening Market is estimated to be valued at US$ 2243.98 Mn in 2023 and is expected to exhibit a CAGR of 42.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Opportunity:
There is significant opportunity for growth in the lung cancer diagnostic and screening market owing to increasing investments by companies as well as governments for development of noninvasive diagnostic techniques. Noninvasive diagnosis methods reduces the need for invasive biopsy procedures. Researchers are focusing on development of blood tests, breath analysis, and imaging methods like PET scans that can detect cancer at an early stage from blood or breath samples noninvasively. This reduces the risk, cost, and trauma of lung biopsy for patients. Growing demand for early and noninvasive diagnosis is expected to drive market growth over the forecast period.

Porter's Analysis

Threat of new entrants: The lung cancer diagnostic and screening market requires large scale R&D investments and well established distribution channels limiting threat of new entrants.

Bargaining power of buyers: Buyers have moderate bargaining power due to availability of substitutes however differentiated products and services limit impact on pricing.

Bargaining power of suppliers: Suppliers have low to moderate bargaining power due to availability of substitutes and differentiated inputs required.

Threat of new substitutes: Threat of substitutes is low as lung cancer diagnostics requires specialized expertise and technology.

Competitive rivalry: The market sees intense competition due to strategic partnerships and technological innovations.

SWOT Analysis

Strength: Advanced technologies such as imaging, pathology and fluid analysis enable accurate diagnosis. Growing reimbursement and initiatives increase access and adoption.

Weakness: High capital requirements and costs limit access in low income regions. Shortage of skilled professionals poses challenges.

Opportunity: Rising incident of lung cancer due to smoking and pollution presents opportunities. Untapped potential in developing countries.

Threats: Stringent regulations increase compliance cost. Reimbursement cuts and policy changes impact revenues.

Key Takeaways

Global Lung Cancer Diagnostic and Screening Market Insights is expected to witness high growth on account of increasing incidence of lung cancer cases worldwide. Market is estimated to be valued at US$ 2243.98 Mn in 2023 and is expected to exhibit a CAGR of 42.% over the forecast period 2023 to 2030.

The market in North America currently dominates globally supported by advanced healthcare facilities, awareness initiatives and favorable reimbursement scenario in the region. The Asia Pacific region is expected to offer lucrative growth opportunities owing to rising healthcare expenditure, large patient pool and growing medical tourism. Countries like China and India are projected to be among the fastest growing markets in the region.

Key players operating in the lung cancer diagnostic and screening market are ABB, ANSYS, Inc., Autodesk Inc., AVEVA Group plc, Amazon Web Services, Inc., Dassault Systèmes, GE DIGITAL, General Electric, Hexagon AB, IBM Corporation, Microsoft Corporation, PTC Inc., Rockwell Automation, SAP SE and Siemens AG. Strategic collaborations, M&A and new product launches have been common strategies by major players to strengthen presence and gain competitive advantage in the market.

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