Lung cancer or lung carcinoma is malignant maturation of lung tumor, caused by uncontrolled growth of cells & tissues in the lung. Lung cancer diagnostics can be defined as an umbrella of tests & diagnosis procedures used in treatment of lung cancer, which includes methods such as imaging, tumor screening, sputum cytology tests, and biopsy.
Fact.MR, in its recent report, estimates the global lung cancer diagnostics market to register an impressive 7.3% CAGR during the forecast period 2017 to 2022.
The growth of the global market for lung cancer diagnostics is primarily attributed to increasing developments in lung cancer-specific biomarkers. These diagnostic tools are expected to facilitate personalized treatment approach towards lung malignancies. A number of biomarkers exist in the research pipeline. In the recent past, Epigenomics AG launched a new test based on blood utilizing DNA methylation biomarkers, whose developments are in the process. The initial results obtained from these tests have promised early diagnosis of lung cancer. Such incidences are expected to increase demand for lung cancer diagnostics across the globe.
Increasing Awareness Programs for Lung Cancer to Drive Growth of the Market
A number of awareness programs associated with lung cancer and its related symptoms have been initiated in order to enhance the diagnosis and screening rates of individuals with high risks of developing lung malignancies. For example – In the United Kingdom, November is considered to be the lung cancer awareness month, and is supported by Roy Castle Lung Cancer Foundation. Such initiatives help in raising awareness about early detection and diagnosis of lung cancer.
CA tests will continue to be the most lucrative tests for lung cancer diagnostics in the market. Revenue from CA tests will account for US$ 889.3 Mn by 2022-end. Angiogenesis inhibitor is expected to witness the fastest expansion among test type in the market, followed by HER 2 tests. Revenue from ALK tests for lung cancer diagnostics will continue to remain low in the market.
Market Taxonomy
|
Test Type |
End User |
Indication |
|
CA Test |
Hospital Associated Labs |
Non Small-cell Lung Cancer |
|
HER2 Tests |
Independent Diagnostic Laboratories |
Small-cell Lung Cancer |
|
ALK Tests |
Cancer Research Institutes |
|
|
Angiogenesis Inhibitor |
Others |
|
|
EGFR Mutation Tests |
||
|
KRAS Mutation Tests |
||
|
Others |
(Additional information, including cross-sectional data and country-wise analysis & forecast is available in the report)
Hospital-associated Labs to Remain the Most Lucrative End-Users of Lung Cancer Diagnostics
Hospital-associated labs will remain the most lucrative end-users of lung cancer diagnostics in the global market, with revenues estimated to reach nearly US$ 1,500 Mn by 2022-end. Cancer research institutes will continue to exhibit the fastest expansion in the global lung cancer diagnostics market, followed by independent diagnostic laboratories. In addition, independent diagnostic laboratories are expected to be the second largest end-users of lung cancer diagnostics throughout the forecast period.
On the basis of indication, although non-small cell lung cancer is expected to remain sought-after in the market, small cell-lung cancer is expected to exhibit the fastest expansion through 2022. Revenue from non-small cell lung cancer is expected to remain largest during the forecast period. In contrast, revenue from small cell lung cancer will continue to be low in the global lung cancer diagnostics market.
Competition Tracking
Novel product launches for lung cancer diagnostics is a key strategy adopted by leading players in the global market, in order to increase their product portfolio. Fact.MR’s report profiles key market players, which include Illumina, Inc., Abbott Laboratories, Thermo Fischer Scientific, Inc., QIAGEN N.V., Quest Diagnostics Incorporated, NeoGenomics Laboratories, Inc., NanoString Technologies, Inc., Myriad Genetics, Inc., Roche Holding AG, and Danaher Corporation.
Note: The insights mentioned here are of the respective analysts, and do not reflect the position of Fact.MR
Medical organizations as well as leaders in the global pharmaceuticals industry are stepping up their efforts towards development of profound diagnosis for lung cancer. Rising number of deaths caused by lung cancer is taking a toll on governments as people are demanding precision diagnosis and a cure-all for this terminal disease. In a bid to adapt to the urban rat race, millions of consumers have adopted lifestyles that are stemming the occurrence of lung cancer. For public administration authorities, compelling people to avoid such lifestyles is like challenging the status quo. The burden of controlling the incidence of lung cancer gets passed on to hospitals & medical research organizations as they strive to develop novel diagnostic and therapeutic procedures.
The report on the global market for lung cancer discusses such key factors that govern the economics of lung cancer diagnostics across the globe. Some of the key influences for the growth of global lung cancer diagnostics market include:
- rising presence of carcinogenic elements in common consumables
- surging exposure to toxic substances in factories & industrial settings
- lack of awareness related to causes, symptoms, and preventive measures for lung cancer
- high healthcare costs, deterring lung cancer patients from seeking optimum diagnosis
With growing incidence of lung cancer, the future generations will witness a more accessible, affordable, and diagnosis-associated treatment for lung cancer. As lung cancer research organizations & societies struggle to develop effective medications in tight-budgeted capitals, governments are deploying initiatives that boost the awareness of lung cancer.
Need for Premeditated Lung Cancer Patient Compliance
Lung cancer patients are often riddled with confusing options for diagnosis. Choosing the right screening test can become a dilemma for the patient and his/her family. Companies manufacturing medical instruments and devices for diagnosis of lung cancer are expected to mitigate such difficulties by facilitating a well-laid patient compliance regime.
The global market for lung cancer diagnostics is anticipated to witness significant impact from diagnosis-associated patient compliance trials. Positive attitudes of patients towards certain diagnosis alternatives is decisive in changing future undertakings. Prominent diagnostic tools are likely to be replaced with their upgraded variants. The report has highlighted the influence of government undertakings in offering a better compliance for diagnosis of lung cancer patients.
Key players in the global lung cancer diagnostics market are collaborating with regional health ministries and medical administrators for gauging the impact of therapeutic diagnosis on lung cancer patients. Such cooperative efforts are of paramount importance in the global lung cancer diagnostics market, where overlooking the plausible aftereffects of diagnostic procedures can cost lives.
Lung Cancer diagnostics market – Regional Overview & Competitive Backdrop
A comprehensive section on the regional analysis of global lung cancer diagnostics market is included in the report. North America, Europe, Japan, Asia-Pacific excluding Japan (APEJ), Latin America, and Middle East & Africa are key regions into which the expansion of global lung cancer diagnostics market is studied. Developed markets with robust healthcare infrastructures are deemed lucrative for patients seeking diagnosis for lung cancer. On the other hand, higher resource availability, cheap wages, and lenient manufacturing regulations in developing regions attract the attention of manufacturers of lung cancer diagnosis instruments.
In the report, there is an elaborate section on the competitive landscape of global lung cancer diagnostics market. This part profiles key players in the global market, which includes leading manufacturers of diagnostic devices and related medical apparatus. The scalability employed in profiling these players includes criteria such as the company’s contribution to global lung cancer diagnostics market revenues, recent mergers & acquisitions involving the company, and new product launches. Through this report, companies can also understand the investment standpoint in the global lung cancer diagnostics market, which can be further inferred while taking insightful actions.
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Lung Cancer Diagnostics Market Forecast, Trend Analysis & Competition Tracking: Global Market insights 2017 to 2022