lung cancer screening Market

The lung cancer screening market size is expected to grow from US$ 2,326.5 million in 2022 to US$ 4,363.95 million by 2030; it is estimated to record a CAGR of 8.2% from 2022 to 2030.

The lung cancer screening market growth is attributed to the rising lung cancer Incidence and increasing government support. However, the high cost of lung screening tests is hampering the growth of the lung cancer screening market.

Lung cancer screening is a process used to detect lung cancer in otherwise healthy people with a high risk of lung cancer. Lung cancer screening is recommended for older adults who are long time smokers and who don't have any signs or symptoms of lung cancer. Doctors use a LDCT scan of the lungs to look for lung cancer. If lung cancer is detected early, it's more likely to be cured with treatment.

Rising Government Supportis Boosting The Growth Of The Lung Cancer Screening Market

The United States Preventive Services Task Force recommends people aged 55-80 with a 30-pack-year (equivalent to smoking 20 cigarettes per day for 30 years) smoking history who are presently smoking or have quit within the last 15 years to undergo annual low-dose computed tomography (LDCT) screening for lung cancer.

As per the Cancer Australia 2023 report, lung cancer is the most common form of cancer in Australia, accounting for the majority of the mortality rates. Furthermore, early detection of lung cancer helps improve survival rates. Also, the new screening program will help detect lung cancer during the early stages when treatment is not likely to be successful. For example, in July 2021, Cancer Australia partnered with the Department of Health and Aged Care to determine the feasibility of a lung cancer screening program in Australia.

Such rising government support, policies, and approvals by several governments are boosting the growth of the lung cancer screening market.

Lung Cancer Screening Market - Cancer Type Insights

Based on cancer type, the lung cancer screening market is bifurcated into NSCLC and small cell lung cancer. The NSCLC segment accounted for the largest market share in 2022 and is expected to grow at a CAGR of 10.3% during the forecast period. The market position of this segment is due to the rising cases of NSCLC over the globe. NSCLC develops more slowly than small cell lung cancer. It usually spreads to other parts of the patient's body by the time it is diagnosed. Therefore, early diagnosis and treatment are crucial. According to National Foundation for Cancer Research, NSCLC accounts for nearly 9 out of every 10 diagnoses. As per the same source, large-cell undifferentiated carcinoma lung cancer accounts for approximately 10-15% of all NSCLC diagnoses.

Lung Cancer Screening Market - Technology Insights

Based on technology, the Lung cancer screening market is segmented into LDCT, chest X-ray, liquid biopsy, and others. The LDCT accounted for the largest market share in 2022 and same is expected to grow at a CAGR of 8.0% during the forecast period.

Lung Cancer Screening Market - Age Group Insights

Based on age group, the lung cancer screening market is bifurcated into 50 & older and below 50. The 50 & older segment accounted for the largest market share in 2022, however, the below 50 is expected to grow at a CAGR of 8.9% during the forecast period.

Lung Cancer Screening Market - End User Insights

Based on end user, the lung cancer screening market is segmented into hospitals, diagnostic centers, and others. The hospitals segment accounted for the largest market share in 2022, however, the others is expected to grow at a CAGR of 8.7% during the forecast period.

Lung Cancer Screening Market - Recent Developments:

Inorganic and organic strategies such as mergers and acquisitions are highly adopted by companies in the lung cancer screening market. A few recent key market developments are listed below:

In November 2021, GE Healthcare and Optellum collaborated to advance precision diagnosis and treatment of lung cancer. Together, the companies are seeking to address one of the largest challenges in diagnosing lung cancer, helping providers to determine the malignancy of a lung nodule: a suspicious lesion that may be benign or cancerous.

In June 2022, Royal Philips teamed up with Biodesix, Inc. to incorporate the results of Biodesix?s Nodify Lung blood-based lung nodule risk assessment testing into Philips Lung Cancer Orchestrator lung cancer patient management system. The incorporation of proteomics data - along with the radiologic and patient history data currently used to determine treatment decisions can help create diagnostic efficiency for cancer care centers in the management of a growing number of lung nodule cases via the contextual launch of Biodesix Nodify Lung application within Lung Cancer Orchestrator.

In May 2021, Genetron Holdings Limited has partnered with Siemens Healthineers at the China Medical Equipment Fair. This partnership aims to promote the large-scale application of Genetron?s S5 platform and lung cancer 8-gene IVD assay in Chinese hospitals to provide non-small cell lung cancer (NSCLC) patients with efficient and accurate personalized diagnosis and treatment guidance.