Lung Cancer Screening Market Size, Share, Growth by 2030

The lung cancer screening market is projected to expand from US$ 2,326.5 million in 2022 to US$ 4,363.95 million by 2030, reflecting a compound annual growth rate (CAGR) of 8.2% during the period from 2022 to 2030.

The growth of the lung cancer screening market can be attributed to the increasing incidence of lung cancer and enhanced government initiatives. Nevertheless, the high costs associated with lung cancer screening tests pose a challenge to market expansion.

Lung cancer screening is a method employed to identify lung cancer in individuals who are otherwise healthy but are at a heightened risk. It is particularly recommended for older adults with a significant smoking history who exhibit no symptoms of lung cancer. Physicians typically utilize low-dose computed tomography (LDCT) scans to detect lung cancer. Early detection significantly increases the chances of successful treatment and potential cure.

Government Initiatives are Catalyzing Lung Cancer Screening Market Growth

The United States Preventive Services Task Force advises that individuals aged 55 to 80 with a smoking history of 30 pack-years (equivalent to smoking 20 cigarettes daily for 30 years) who are either current smokers or have quit within the last 15 years should undergo annual LDCT screening for lung cancer.

According to the 2023 report from Cancer Australia, lung cancer is the most prevalent cancer type in Australia, contributing to a significant portion of cancer-related deaths. Moreover, early detection is crucial for improving survival rates. A new screening initiative aims to identify lung cancer at earlier stages when treatment is more likely to be effective. For instance, in July 2021, Cancer Australia collaborated with the Department of Health and Aged Care to explore the feasibility of implementing a lung cancer screening program in Australia.

Such increasing governmental support, along with favorable policies and approvals from various governments, is propelling the growth of the lung cancer screening market.

Lung Cancer Screening Market - Insights by Cancer Type

The lung cancer screening market is categorized based on cancer type into non-small cell lung cancer (NSCLC) and small cell lung cancer. The NSCLC segment held the largest market share in 2022 and is anticipated to grow at a CAGR of 10.3% throughout the forecast period. This segment's dominance is due to the rising global incidence of NSCLC, which typically progresses more slowly than small cell lung cancer. By the time NSCLC is diagnosed, it often has spread to other areas of the body, making early detection and treatment essential. The National Foundation for Cancer Research indicates that NSCLC accounts for nearly 90% of lung cancer diagnoses, with large-cell undifferentiated carcinoma representing about 10-15% of all NSCLC cases.

Lung Cancer Screening Market - Insights by Technology

In terms of technology, the lung cancer screening market is divided into LDCT, chest X-ray, liquid biopsy, and other methods. LDCT dominated the market in 2022 and is expected to grow at a CAGR of 8.0% during the forecast period.

Lung Cancer Screening Market - Insights by Age Group

The lung cancer screening market is also segmented by age group into those aged 50 and older and those below 50. The segment for individuals aged 50 and older represented the largest market share in 2022, while the segment for those under 50 is projected to grow at a CAGR of 8.9% during the forecast period.

Lung Cancer Screening Market - Insights by End User

The market is further segmented by end user into hospitals, diagnostic centers, and others. The hospitals segment accounted for the largest share in 2022, while the 'others' category is expected to grow at a CAGR of 8.7% during the forecast period.

Lung Cancer Screening Market - Recent Developments:

Companies in the lung cancer screening market are actively pursuing both inorganic and organic growth strategies, including mergers and acquisitions. Some notable recent developments include:

In November 2021, GE Healthcare partnered with Optellum to enhance precision in lung cancer diagnosis and treatment. This collaboration aims to tackle one of the significant challenges in lung cancer diagnosis, specifically in assessing the malignancy of lung nodules.

In June 2022, Royal Philips collaborated with Biodesix, Inc. to integrate the results of Biodesix's Nodify Lung blood-based risk assessment tests into Philips' Lung Cancer Orchestrator system. This integration aims to improve diagnostic efficiency for cancer care centers managing an increasing number of lung nodule cases by utilizing proteomics data alongside existing radiologic and patient history data.

In May 2021, Genetron Holdings Limited formed a partnership with Siemens Healthineers at the China Medical Equipment Fair, focusing on promoting the widespread application of Genetron's S5 platform and lung cancer 8-gene IVD assay in Chinese hospitals to provide effective and precise personalized diagnosis and treatment guidance for NSCLC patients.