Lung Cancer Screening Market Size, Share, Growth Analysis, By Type(Non-Small Cell Lung Cancer, and Small Cell Lung Cancer), By Diagnosis Type(Low Dose Spiral CT, and Chest X-Ray), By End-User(Hospitals and Clinics), By Region - Industry Forecast 2024-2031


Report ID: SQMIG35D2256 | Region: Global | Published Date: May, 2024
Pages: 220 |Tables: 86 |Figures: 76

Lung Cancer Screening Market Insights

Global Lung Cancer Screening Market size was valued at USD 2.80 billion in 2022 and is poised to grow from USD 2.98 billion in 2023 to USD 4.78 billion by 2031, growing at a CAGR of 6.1% in the forecast period (2024-2031).

The growth of the global lung cancer screening market is primarily driven by the advancements in screening technologies, along with the increasing prevalence of tobacco consumption worldwide. For instance, according to the Food and Drug Administration (FDA), approximately 2.55 million students consumed tobacco products in 2021. Additionally, the Center for Disease Control and Prevention (CDC) reported that nearly 13 out of every 100 U.S. adults aged 18 years and older smoke cigarettes as of 2020. Moreover, the escalating incidence of lung cancer underscores the rising demand for screening devices and solutions, further strengthening the market expansion.

The market is experiencing significant growth due to the growing adoption of low dose computed tomography (CT) for lung cancer screening by healthcare professionals. Additionally, increased awareness about innovative and cost-effective screening techniques, particularly in developing countries like India and China, is driving market growth. Moreover, certain market players are leveraging collaborative strategies, such as partnerships with healthcare institutes, to raise awareness about lung cancer among the general population. For example, Nuance Communications, Inc., collaborated with Baptist Health South Florida's Miami Cancer Institute (MCI) to establish a lung cancer screening program aimed at early diagnosis and effective treatment.

However, the high cost of screening remains a notable barrier to market growth. Also, the concerns regarding radiation exposure from chest X-rays and computed tomography scans pose challenges, negatively impacting market share. Addressing these concerns through technological innovations, cost-effective solutions, and public education initiatives will be crucial for overcoming barriers and fostering sustainable growth in the lung cancer screening market.

Market Snapshot - 2024-2031

Global Market Size

USD 2.80 billion

Largest Segment

Non-Small Cell Lung Cancer

Fastest Growth

Small Cell Lung Cancer

Growth Rate

6.1% CAGR

Global Lung Cancer Screening Market ($ Bn)
Country Share for North America Region (%)

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Lung Cancer Screening Market Segmental Analysis

The global lung cancer screening market is segmented by type, application, sales channel and region. Based on type, the market can be segmented into non-small cell lung cancer (NSCLC) and small cell lung cancer. Based on Diagnosis type, the market is segmented into low-dose spiral CT and chest x-ray. Based on end-user, the market can be segmented into, oil & gas, water, chemicals, food & beverage and others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East, and Africa.

Analysis by Type

Based on type, the market can be segmented into non-small cell lung cancer (NSCLC) and small cell lung cancer. The leading segment in the global lung cancer market is typically non-small cell lung cancer (NSCLC), primarily due to its higher prevalence compared to small cell lung cancer (SCLC). NSCLC accounts for approximately 85% of all lung cancer cases and encompasses multiple subtypes, including adenocarcinoma, squamous cell carcinoma, and large cell carcinoma. NSCLC tends to grow more slowly and is often diagnosed at an earlier stage than SCLC, allowing for a wider range of treatment options such as surgery, radiation therapy, chemotherapy, targeted therapy, and immunotherapy. Additionally, advancements in precision medicine and the development of targeted therapies and immunotherapies have further expanded treatment options for NSCLC patients, contributing to its dominance in the market.

After NSCLC, the fastest-growing segment in the lung cancer market is small cell lung cancer (SCLC). While NSCLC remains the dominant subtype in terms of prevalence, SCLC is experiencing growth due to several factors. One key driver is increasing awareness and research focus on SCLC, leading to advancements in understanding its underlying biology and the development of novel treatment strategies. Additionally, emerging targeted therapies and immunotherapies specifically tailored for SCLC are expanding treatment options and improving outcomes for patients. Furthermore, efforts to enhance early detection and diagnosis of SCLC, along with improvements in supportive care measures, are contributing to its growing prominence in the lung cancer market.

Analysis by Diagnosis Type

Based on Diagnosis type, the market is segmented into low-dose spiral CT and chest x-ray. The leadingand fastest-growing segment in the lung cancer market based on diagnosis type is low-dose spiral CT (LDCT). LDCT has emerged as the leading modality for lung cancer screening and diagnosis due to its superior sensitivity in detecting small lung nodules compared to chest X-ray. Multiple large-scale clinical trials, including the National Lung Screening Trial (NLST), have demonstrated the efficacy of LDCT in reducing lung cancer mortality among high-risk individuals, particularly current and former smokers. Professional guidelines and recommendations from organizations such as the U.S. Preventive Services Task Force (USPSTF) have also endorsed LDCT as the preferred screening modality for individuals at high risk of developing lung cancer. As a result, LDCT has become widely adopted in clinical practice and is considered the standard of care for lung cancer screening, thereby dominating the market segment.

After LDCT, the fastest-growing segment in the lung cancer market based on diagnosis type is chest X-ray. Despite its lower sensitivity compared to LDCT, chest X-ray remains a widely accessible and cost-effective imaging modality for initial lung cancer screening and evaluation. The growth of chest X-ray usage in lung cancer diagnosis is propelled by several factors, including its widespread availability in primary care settings, ease of use, and relatively lower radiation exposure compared to CT scans. The advancements in digital imaging technology and image interpretation algorithms have improved the sensitivity and diagnostic accuracy of chest X-ray, making it an attractive option for healthcare providers seeking to screen large populations for lung cancer, especially in resource-constrained settings or for individuals who may not meet the criteria for LDCT screening.

Analysis by End-User

Based on end-user, the market can be segmented into, oil & gas, water, chemicals, food & beverage and others. In the global lung cancer market, hospitals are the leading segment. This dominance stems since hospitals serve as comprehensive healthcare institutions equipped with advanced diagnostic facilities, specialized oncology departments, and multidisciplinary teams of healthcare professionals. They provide a wide range of services essential for the diagnosis, treatment, and management of lung cancer, including imaging, surgery, chemotherapy, radiation therapy, and supportive care. Additionally, hospitals often have the capacity to handle complex cases, emergencies, and inpatient admissions, offering patients access to specialized expertise and advanced treatment modalities under one roof. As focal points for cancer care delivery, hospitals attract a significant volume of lung cancer patients, thereby establishing themselves as the leading segment in the market.

The fastest-growing segment in the global lung cancer market is clinics. Clinics are experiencing rapid growth due to a growing emphasis on outpatient care and the shift towards decentralized healthcare delivery models, which favour the expansion of clinic-based services for lung cancer diagnosis, treatment and follow-up. Clinics offer convenience, accessibility, and personalized care options for patients, particularly in urban areas where the demand for specialized oncology services is high. Moreover, advancements in technology, such as telemedicine and remote monitoring solutions, are enabling clinics to expand their reach and provide virtual consultations and remote monitoring services, further driving growth in this segment. The establishment of specialized lung cancer clinics and multidisciplinary care centres focused on holistic patient management contributes to the rapid expansion of clinic-based services in the lung cancer market.

Global Lung Cancer Screening Market By Type

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Lung Cancer Screening Market Regional Insights

Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East, and Africa. North America stands out as the leading region in the global lung cancer screening market due to several key factors. In North America, particularly the United States, there is a high prevalence of lung cancer, driving significant demand for screening services. Secondly, the region benefits from well-established healthcare infrastructure, advanced imaging technologies, and widespread access to healthcare facilities, facilitating the implementation of screening programs. Additionally, favourable reimbursement policies, extensive research and development activities, and robust public awareness campaigns contribute to the adoption of lung cancer screening in North America. Furthermore, strategic partnerships between healthcare providers, government agencies, and industry players further strengthen the market's growth trajectory. These combined factors position North America at the leading position of the lung cancer screening market.

Asia Pacific emerges as the fastest-growing region in the global lung cancer screening market due to several compelling reasons. The region's large population base, particularly in countries like China and India, presents significant opportunities for screening initiatives. Also, the rising healthcare expenditure, improving access to healthcare services, and increasing awareness about cancer prevention drive the demand for screening programs. Additionally, technological advancements and the adoption of innovative screening modalities contribute to the region's growth. And the government initiatives, public-private partnerships and collaborations with international organizations support the expansion of lung cancer screening infrastructure and services in the Asia Pacific region, fuelling its rapid growth in the market.

Global Lung Cancer Screening Market By Type
  • Largest
  • Fastest

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Lung Cancer Screening Market Dynamics

Drivers

Increasing Incidence of Lung Cancer

  • Lung cancer remains one of the leading causes of cancer-related deaths worldwide. The rising incidence of lung cancer, particularly in developing countries, is a significant driver for the adoption of screening programs.

Growing Awareness about Early Detection

  • Public awareness campaigns and initiatives by healthcare organizations have increased awareness about the importance of early detection of lung cancer. As a result, more individuals are seeking screening services, boosting market demand.

Aging Population

  • The aging population is more susceptible to developing lung cancer, and as the global population ages, there is an increased demand for screening services among elderly individuals. This demographic trend contributes to the growth of the lung cancer screening market.

Adoption of Smoking Cessation Programs

  • Efforts to reduce smoking prevalence through smoking cessation programs have led to a greater emphasis on lung cancer screening among current and former smokers. Screening programs often target high-risk individuals, such as current and former smokers, contributing to market expansion.

Restraints

Risk of False Positives and Overdiagnosis

  • Lung cancer screening, particularly with LDCT, can result in false-positive findings that require further investigation, leading to unnecessary anxiety, additional costs, and potential complications from unnecessary procedures. Overdiagnosis, where patients are diagnosed with lung nodules that may never cause harm, can also lead to overtreatment and unnecessary interventions.

Radiation Exposure Concerns

  • LDCT scans involve exposure to ionizing radiation, albeit at lower doses compared to traditional CT scans. Concerns about radiation exposure may deter individuals from undergoing screening, particularly if they perceive the risk of radiation-induced cancer to outweigh the potential benefits of early detection.

Cost of Screening

  • Despite the importance of early detection, lung cancer screening procedures, especially those involving advanced imaging technologies like low dose computed tomography (LDCT), can be expensive. Cost constraints may limit access to screening services, particularly in regions with limited healthcare resources or without adequate insurance coverage.

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Lung Cancer Screening Market Competitive Landscape

The global lung cancer screening market exhibits a competitive landscape characterized by the presence of established MNCs and emerging players striving to gain market share. Major key players such as GE Healthcare, Siemens Healthineers and Philips Healthcare dominate the market with their extensive product portfolios, technological expertise, and global distribution networks. These companies focus on innovation, strategic collaborations, and acquisitions to strengthen their market position and offer comprehensive solutions for lung cancer screening. Additionally, the market witness's competition from specialized diagnostic companies, biotechnology firms, and startups that are driving advancements in imaging technologies, biomarker detection, and personalized screening approaches. Rising investments in research and development, along with increasing emphasis on value-based care and patient-centric solutions, contribute to the dynamic competitive landscape of the lung cancer screening market.

Top Player’s Company Profiles

  • GE Healthcare (US)
  • Siemens Healthineers (Germany)
  • Philips Healthcare (Netherlands)
  • Hitachi Medical Corporation (Japan)
  • Toshiba Medical Systems Corporation (Japan)
  • Hologic, Inc. (US)
  • Roche Diagnostics (Switzerland)
  • Thermo Fisher Scientific Inc. (US)
  • PerkinElmer, Inc. (US)
  • Fujifilm Holdings Corporation (Japan)
  • Abbott Laboratories (US)
  • Agilent Technologies, Inc. (US)
  • Bio-Rad Laboratories, Inc. (US)
  • Bruker Corporation (US)
  • Canon Medical Systems Corporation (Japan)
  • Danaher Corporation (US)
  • Esaote SpA (Italy)
  • Medtronic plc (Ireland)
  • Mindray Medical International Limited (China)
  • Varian Medical Systems, Inc. (US)

Recent Developments

  • In November 2023, Aidence, Incepto, and Thirona collaboratly launched a clinical solution aimed at supporting the expansion of lung cancer screening in Europe. This collaborative effort signifies a strategic move to enhance screening capabilities and contribute to advancements in detecting and managing lung cancer across the continent.
  • In July 2022, GE Healthcare strengthened its position in the healthcare sector by launching the Voluson Expert 22, the most advanced ultrasound in its Women’s Health portfolio. Utilizing graphic-based beam former technology, this product offers superior imaging quality and enhanced flexibility, reinforcing GE Healthcare's commitment to providing cutting-edge products and services to healthcare institutions
  • In October 2021, Thynk Health announced a strategic collaboration with Infervision, leveraging the world's most advanced technologies to combat lung cancer. This collaboration not only facilitates advanced lung cancer screening but also strengthens Thynk Health's market presence, positioning the company as a key player in pulmonary nodule management and innovative healthcare solutions

Lung Cancer Screening Key Market Trends

  • Personalized Screening Approaches: Tailoring screening strategies based on individual risk factors, including smoking history, occupational exposures, and genetic predisposition, could enhance the effectiveness of screening programs. Personalized approaches may involve risk stratification algorithms to identify high-risk populations and optimize resource allocation for screening interventions.
  • Expansion of Screening Infrastructure: Investing in the expansion of screening infrastructure, including the establishment of dedicated lung cancer screening centers and mobile screening units, could improve access to screening services, particularly in underserved communities and rural areas. Public-private partnerships and community outreach initiatives can facilitate the deployment of screening resources to high-risk populations.
  • Collaborative Research and Clinical Trials: Collaborative research efforts and participation in clinical trials enable the evaluation of emerging screening modalities, risk prediction models, and intervention strategies. Engaging in multinational research consortia and data-sharing initiatives facilitates the generation of robust evidence to inform best practices in lung cancer screening and management.
  • Healthcare Policy and Advocacy: Advocacy for evidence-based policies that support reimbursement for lung cancer screening services and implementation of quality assurance measures can promote the widespread adoption of screening programs. Policy initiatives aimed at raising public awareness, reducing disparities in access to care, and integrating screening into comprehensive cancer control plans are essential for maximizing the impact of screening interventions.

Lung Cancer Screening Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.

According to our Global Lung Cancer Screenings market analysis, the global lung cancer market exhibits a dynamic landscape shaped by various drivers, including segmentation by diagnosis type, regional insights, and the competitive landscape. Based on type, the non-small cell lung cancer is the leading the market. Low-dose spiral CT emerges as the leading segment, driven by its superior sensitivity and efficacy in lung cancer screening, supported by professional guidelines and widespread adoption in clinical practice. Similarly, hospitals are leading the global market over clinics, as they serve as the comprehensive healthcare institution with advance equipment. However, chest X-ray remains a fast-growing segment, fuelled by its accessibility, cost-effectiveness, and technological advancements enhancing diagnostic accuracy. Regionally, North America dominates the market, attributed to advanced healthcare infrastructure, favourable reimbursement policies, and early adoption of screening technologies. Meanwhile, the Asia Pacific region emerges as the fastest-growing market, driven by rising healthcare expenditure, improving access to care, and government initiatives. The competitive landscape is characterized by established players such as GE Healthcare, Siemens Healthineers, and Philips Healthcare, alongside emerging companies focusing on innovation and collaboration to address unmet needs in lung cancer diagnosis and management. As the market continues to evolve, strategic partnerships, technological advancements, and emphasis on early detection and personalized care will remain pivotal in driving advancements and improving outcomes in lung cancer management globally.

Report Metric Details
Market size value in 2022 USD 2.80 billion
Market size value in 2031 USD 4.78 billion
Growth Rate 6.1%
Base year 2023
Forecast period 2024-2031
Forecast Unit (Value) USD Billion
Segments covered
  • Type
    • Non-Small Cell Lung Cancer, and Small Cell Lung Cancer
  • Diagnosis Type
    • Low Dose Spiral CT, and Chest X-Ray
  • End-User
    • Hospitals and Clinics
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • GE Healthcare (US)
  • Siemens Healthineers (Germany)
  • Philips Healthcare (Netherlands)
  • Hitachi Medical Corporation (Japan)
  • Toshiba Medical Systems Corporation (Japan)
  • Hologic, Inc. (US)
  • Roche Diagnostics (Switzerland)
  • Thermo Fisher Scientific Inc. (US)
  • PerkinElmer, Inc. (US)
  • Fujifilm Holdings Corporation (Japan)
  • Abbott Laboratories (US)
  • Agilent Technologies, Inc. (US)
  • Bio-Rad Laboratories, Inc. (US)
  • Bruker Corporation (US)
  • Canon Medical Systems Corporation (Japan)
  • Danaher Corporation (US)
  • Esaote SpA (Italy)
  • Medtronic plc (Ireland)
  • Mindray Medical International Limited (China)
  • Varian Medical Systems, Inc. (US)
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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Lung Cancer Screening Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Lung Cancer Screening Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Lung Cancer Screening Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Lung Cancer Screening Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Lung Cancer Screening Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Lung Cancer Screening Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

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FAQs

Lung Cancer Screening Market size was valued at USD 2.80 billion in 2022 and is poised to grow from USD 2.98 billion in 2023 to USD 4.78 billion by 2031, growing at a CAGR of 6.1% in the forecast period (2024-2031).

The lung cancer screening market exhibits a competitive landscape characterized by the presence of established MNCs and emerging players striving to gain market share. Major key players such as GE Healthcare, Siemens Healthineers and Philips Healthcare dominate the market with their extensive product portfolios, technological expertise, and distribution networks. These companies focus on innovation, strategic collaborations, and acquisitions to strengthen their market position and offer comprehensive solutions for lung cancer screening. Additionally, the market witness's competition from specialized diagnostic companies, biotechnology firms, and startups that are driving advancements in imaging technologies, biomarker detection, and personalized screening approaches. Rising investments in research and development, along with increasing emphasis on value-based care and patient-centric solutions, contribute to the dynamic competitive landscape of the lung cancer screening market. 'GE Healthcare (US)', 'Siemens Healthineers (Germany)', 'Philips Healthcare (Netherlands)', 'Hitachi Medical Corporation (Japan)', 'Toshiba Medical Systems Corporation (Japan)', 'Hologic, Inc. (US)', 'Roche Diagnostics (Switzerland)', 'Thermo Fisher Scientific Inc. (US)', 'PerkinElmer, Inc. (US)', 'Fujifilm Holdings Corporation (Japan)', 'Abbott Laboratories (US)', 'Agilent Technologies, Inc. (US)', 'Bio-Rad Laboratories, Inc. (US)', 'Bruker Corporation (US)', 'Canon Medical Systems Corporation (Japan)', 'Danaher Corporation (US)', 'Esaote SpA (Italy)', 'Medtronic plc (Ireland)', 'Mindray Medical International Limited (China)', 'Varian Medical Systems, Inc. (US)'

Lung cancer remains one of the leading causes of cancer-related deaths worldwide. The rising incidence of lung cancer, particularly in developing countries, is a significant driver for the adoption of screening programs.

Personalized Screening Approaches: Tailoring screening strategies based on individual risk factors, including smoking history, occupational exposures, and genetic predisposition, could enhance the effectiveness of screening programs. Personalized approaches may involve risk stratification algorithms to identify high-risk populations and optimize resource allocation for screening interventions.

Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East, and Africa. North America stands out as the leading region in the lung cancer screening market due to several key factors. In North America, particularly the United States, there is a high prevalence of lung cancer, driving significant demand for screening services. Secondly, the region benefits from well-established healthcare infrastructure, advanced imaging technologies, and widespread access to healthcare facilities, facilitating the implementation of screening programs. Additionally, favourable reimbursement policies, extensive research and development activities, and robust public awareness campaigns contribute to the adoption of lung cancer screening in North America. Furthermore, strategic partnerships between healthcare providers, government agencies, and industry players further strengthen the market's growth trajectory. These combined factors position North America at the leading position of the lung cancer screening market.

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