Lung Cancer Diagnostics Market

Lung Cancer Diagnostics Market Study by CA Tests, HER2 Tests, ALK Tests, Angiogenesis Inhibitors, EGFR Mutation Tests, and KRAS Mutation Tests from 2024 to 2034

Analysis of Lung Cancer Diagnostics Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more

Lung Cancer Diagnostics Market Outlook (2024 to 2034)

Growing awareness about the importance of accurate and early diagnosis of cancer is set to drive global demand for lung cancer diagnostics, with the market reaching a value of US$ 2.98 billion in 2024. The global lung cancer diagnostics market size has been projected to expand at a CAGR of 6.1% and end up at US$ 5.4 billion by 2034.

Technological advancements taking place in diagnostic technology, including the discovery of new biomarkers and the development of various non-invasive diagnostic methods are set to generate lucrative opportunities for suppliers of lung cancer diagnostic services. Rising concentration on early detection, diagnosis, and supportive treatment for lung cancer is anticipated to positively attract lung cancer diagnostics market trends.

Rising cases of lung cancer along with the growing count of private diagnostic laboratories is estimated to increase demand for lung cancer diagnostics. Various primary care doctors and governments in developed countries are recommending tests for cancer screening for patients, which is anticipated to drive opportunities for market players.

  • Demand for lung cancer diagnostics in Canada is evaluated to increase at a CAGR of 7.5% from 2024 to 2034.
  • Hospital-associated labs are forecasted to account for 46.9% of the lung cancer diagnostics market share by the end of 2034.
  • North America is projected to lead with 37.3% share of the global market by 2034-end.

Market players are investing more in the diagnosis and development of novel therapeutic options to ensure the delivery of effective treatment options. Moreover, advancements taking place in imaging technology are set to contribute to the development of accurate imaging techniques, including low-dose CT scans, etc. These advancements are projected to help in the detection of earlier and smaller-stage tumors.

Development of innovative and new biomarkers to detect lung cancer at early stages is contributing to market dynamics. In addition, the use of these biomarkers in multiple blood tests, including liquid biopsy, etc. is estimated to improve the effectiveness and accuracy of lung cancer diagnostics and assist in developing personalized treatment.

Report Attributes Details
Lung Cancer Diagnostics Market Size (2024E) US$ 2.98 Billion
Forecasted Market Value (2034F) US$ 5.4 Billion
Global Market Growth Rate (2024 to 2034) 6.1% CAGR
Market Share of EGFR Mutation Tests (2034F) 28.2%
South Korea Market Growth Rate (2024 to 2034) 7.5% CAGR
South Asia & Pacific Market Share (2034F) 21%
Key Companies Profiled
  • NeoGenomics Laboratories, Inc.
  • Illumina, Inc.
  • Danaher Corporation
  • Abbott Laboratories
  • Roche Holding AG
  • Quest Diagnostics Incorporated
  • Myriad Genetics, Inc.
  • Thermo Fischer Scientific, Inc.
  • NanoString Technologies, Inc.

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Which Market Dynamics are Shaping the Prospects of Lung Cancer Diagnostic Solution Providers?

“Rising Spending on Treatment Offered for Lung Cancer”

In recent years, there have been numerous patients, who are spending significantly on research conducted for cancer treatment, which is set to offer remunerative opportunities for suppliers of related products and services. Further, there is a significant number of lung cancer patients, who have been diagnosed at advanced stages are not treated by surgery or some other therapeutic options. Accessibility to government and private funds for conducting R&D activities for the development of more effective tumor diagnostic tools is estimated to support the development of diagnostics to minimize the cost of screening.

“Adoption of Advanced Multimodal Diagnostic Approaches”

Adoption of some advanced multimodal diagnostic techniques is anticipated to influence lung cancer diagnostics demand positively. For example, the development of breath analysis and liquid biopsy is estimated to lead to more advanced and promising technologies, which help in detecting biomarkers related to lung cancer. AI and wearable devices are two niches, which need standardization and development for commercialization. Particles, fibers, and robots, are some of the nano-systems included in upcoming technology for detecting lung cancer.

Which Hurdles are Encountered by Providers of Lung Cancer Diagnostics?

“High Prices of Diagnostic Tests and Availability of Alternative Methods”

Cost of lung cancer diagnostics is comparatively higher than other available options. In addition, the easy availability of numerous alternative diagnostic methods at pocket-friendly prices is estimated to limit the expansion of the lung cancer diagnostics market size.

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How are New Companies Making a Name for Themselves in the Global Market?

“Higher Expenditure on R&D Activities for Product Innovation”

New market players trying to enter the market are investing in R&D activities for the development of improved and new diagnostic methods to enrich their product portfolio and increase their market share in the forecasted period.

Country-wise Insights

As mentioned in Fact.MR published research report, North America is projected to account for 37.3% share of the global market by 2034. Increasing cases of lung cancer in the region are generating demand for accurate and early diagnosis, which is further driving demand for lung cancer diagnostics. Furthermore, the presence of a well-established healthcare system is also contributing to market growth.

Why are Diagnostic Solution Providers Targeting the United States?

“Supportive Policies Leading to Development of Advanced Cancer Treatment”

Attribute United States
Market Value (2024E) US$ 915 Million
Growth Rate (2024 to 2034) 5.8% CAGR
Projected Value (2034F) US$ 1.6 Billion

The United States is approximated to hold 85.1% share of the market in North America by the end of 2034. Constant efforts by various private as well as government associations to implement supportive initiatives are projected to generate opportunities for players. The easy availability of funds for researchers for researching to develop ways for quick analysis of data collected from gene sequencing and identification of mutations in genes of lung cancer are attracting market trends. These research activities are forecasted to pave the way for finding novel treatments against lung cancer.

Why is China a Key Market in East Asia?

“Rising Cases of Non-small Cell Lung Cancer Generating Treatment Requirements”

Attribute China
Market Value (2024E) US$ 233.9 Million
Growth Rate (2024 to 2034) 9.6% CAGR
Projected Value (2034F) US$ 586.7 Million

China is evaluated to contribute 55.8% share of the market in East Asia by 2034. NSCLC (non-small cell lung cancer) is a commonly diagnosed cancer in China, which is contributing to increased demand for effective treatment options. Continuous uptake along with anticipated approvals for inhibitors of immune checkpoints is estimated to drive market growth there.

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Category-wise Insights

As mentioned in the research report published by Fact.MR, a market research and competitive intelligence provider, demand for non-small-cell lung cancer diagnostics is projected to increase at a CAGR of 5.9% and reach a market value of US$ 4.41 billion by the end of the forecast period in 2034.

Why are EGFR Mutation Tests Preferred More by Healthcare Providers?

“Convenience and Efficiency of EGFR Mutation Testing”

Attribute EGFR Mutation Tests
Segment Value (2024E) US$ 879.3 Million
Growth Rate (2024 to 2034) 5.6% CAGR
Projected Value (2034F) US$ 1.52 Billion

EGFR mutation tests are forecasted to hold 28.2% share of global market revenue by the end of 2034. The rising prominence of these tests is attributed to the convenience offered to healthcare providers. Clinicians are provided with two options using either plasma or tissue as biopsy samples. Moreover, this test makes the entire processing of collected samples more efficient and convenient.

Which End User Accounts for High Lung Cancer Diagnostics Market Growth Decisively?

“High Popularity of Hospital-associated Labs among Patients”

Attribute Hospital Associated Labs
Segment Value (2024E) US$ 1.5 Billion
Growth Rate (2024 to 2034) 5.3% CAGR
Projected Value (2034F) US$ 2.53 Billion

Hospital-associated labs are calculated to enjoy a share of 46.9% of the global market by 2034-end. The rising count of cancer patients visiting hospitals along with increasing incidences of in-house diagnostics processes conducted in hospitals is contributing to the preference to hospital-associated labs. Furthermore, growing awareness related to early diagnosis is also contributing to increased demand for lung cancer diagnostics in hospital-associated labs.

Competitive Landscape

New product development, maintaining supply chain systems, and quality control are some of the prominent strategies adopted by players to retain existing customers and generate new leads. Leading market players are embracing various innovative approaches, including technological advancements for cancer screening, acquisitions, mergers, and ground-breaking marketing tactics.

For instance :

  • Geneseeq Technology Inc. is one of the prominent providers of NGS (next-generation sequencing) precision oncology. In March 2021, it entered into a collaboration with Illumina, Inc. for the development of a comprehensive IVD (in-vitro diagnostic) NGS testing kit for cancer with the use of the sequencing platform of Illumina.

Key players in the lung cancer diagnostics market are NeoGenomics Laboratories, Inc., Illumina, Inc., Danaher Corporation, Abbott Laboratories, Roche Holding AG, Quest Diagnostics Incorporated, Myriad Genetics, Inc., Thermo Fischer Scientific, Inc., NanoString Technologies, Inc., and QIAGEN N.V.

Segmentation of Lung Cancer Diagnostics Market Research

  • By Test Type :

    • CA Tests
    • HER2 Tests
    • ALK Tests
    • Angiogenesis Inhibitors
    • EGFR Mutation Tests
    • KRAS Mutation Tests
  • By End User :

    • Hospital-Associated Labs
    • Independent Diagnostic Laboratories
    • Cancer Research Institutes
  • By Indication :

    • Non-small-cell Lung Cancer
    • Small-cell Lung Cancer
  • By Region :

    • North America
    • Europe
    • East Asia
    • Latin America
    • Middle East & Africa
    • South Asia & Oceania

- FAQs -

How big is the size of the lung cancer diagnostics market in 2024?

The global lung cancer diagnostics market is poised to reach US$ 2.98 billion in 2024.

What is the sales outlook for lung cancer diagnostics for 2034?

Worldwide revenue from lung cancer diagnostics is projected to reach US$ 5.4 billion by 2034.

What is the projected growth rate for the global market?

The global market is forecasted to advance at 6.1% CAGR from 2024 to 2034.

What is the contribution of North America to global market revenue?

North America is anticipated to hold 37.3% of global market share by 2034.

What is the demand projection for lung cancer diagnostics in South Korea?

Demand for lung cancer diagnostics in South Korea is estimated to increase at a 7.5% CAGR from 2024 to 2034.

How much share of the global market is anticipated to be held by hospital-associated labs?

Hospital-associated labs are calculated to account for 46.9% share of global market revenue by 2034.

What is the best diagnostic for lung cancer?

Low-dose computed tomography (LDCT or low-dose CT scan) is one of the most effective screening tests used against lung cancer.

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