The global Lung Cancer Diagnostic and Screening Market Growth Accelerated by Early Detection Measures



Lung Cancer Diagnostic and Screening Market

Lung cancer is one of the most common and deadly types of cancers, affecting people's quality of life. Factors such as exposure to secondhand smoke, genetics, chemicals also contribute to the rise in lung cancer cases. Early detection through screening and diagnostic tests plays a crucial role in improving patient outcomes and survival rates. Low-dose Computed Tomography (LDCT) scans help detect small lung nodules not visible on chest X-rays. Biomarker tests analyze sputum or blood samples for indications of cancer.

The global Lung Cancer Diagnostic and Screening Market is estimated to be valued at US$ 2,585.07 Mn in 2024 and is expected to exhibit a CAGR of 4.1% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market Key Trends
The increased emphasis on early detection measures in lung cancer care is one of the primary drivers fueling the growth of the lung cancer diagnostic and screening market. Governments and healthcare organizations worldwide are promoting the use of LDCT screening for high-risk patients through favorable reimbursement policies and raising awareness. For instance, Medicare, the national health insurance program for elderly Americans, started covering the cost of annual LDCT lung cancer screening for eligible older adults. Rising lung cancer incidence especially in developing nations also creates demand for advanced diagnostic tools and screening programs for early detection. However, the high cost associated with LDCT scans, biomarker tests, and other screening methods remains a key challenge.

Segment Analysis

Global Lung Cancer Diagnostic And Screening Market Size is dominated by the non-small cell lung cancer sub-segment. Non-small cell lung cancer accounts for around 85% of all lung cancer cases. It generally grows and spreads more slowly than small cell lung cancer. Therefore, non-small cell lung cancer is often more treatable if it's detected early through screening and diagnosed promptly.

Key Takeaways

The global Lung Cancer Diagnostic and Screening market is expected to witness high growth. The global Lung Cancer Diagnostic and Screening Market is estimated to be valued at US$ 2,585.07 Mn in 2024 and is expected to exhibit a CAGR of 4.1% over the forecast period 2024 to 2031.

Regional analysis shows that North America currently dominates the market. Factors such as increasing healthcare expenditure, growing awareness about lung cancer, and rapid technological advancements in the field of diagnostic and screening are driving market growth in the region. Asia Pacific is expected to be the fastest growing market during the forecast period. Rising per capita incomes, growing medical tourism industry, and expansion of private healthcare systems are some factors supporting market growth in Asia Pacific.

Key players operating in the Lung Cancer Diagnostic and Screening market are ExxonMobil, Chevron Phillips Chemical Company, SABIC, China National Petroleum Corporation (CNPC), BASF. ExxonMobil specializes in innovative diagnostic imaging technology to detect lung cancer at early stages. Chevron Phillips Chemical Company offers a wide range of lungs cancer diagnostic tests like CT imaging, biopsies, bronchoscopy etc to facilitate accurate screening and diagnosis. SABIC manufactures PET scanners that play a crucial role in lung cancer staging and chemotherapy response monitoring. China National Petroleum Corporation (CNPC) provides lung cancer biomarker tests to aid early detection. BASF develops lung cancer diagnostic kits based on novel bio-markers and genetic profiling techniques.

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