8.2% CAGR for Lung Cancer Screening Market Worth $4.36Bn by 2030 with NSCLC Segment (8% CAGR) Driving Growth During 2022-2030 | The Insight Partners

Pune, India, July 06, 2023 (GLOBE NEWSWIRE) — According to Recently Published Report by The Insight Partners, “Lung Cancer Screening Market Size Report and Forecast to 2030 – COVID-19 Impact and Global Analysis By Cancer Type, Technology, Age Group, and End User”; the market size is projected to reach $4.36 billion by 2030 from $2.32 billion in 2022; it is expected to register a CAGR of 8.2% from 2022 to 2030. According to estimates by the American Cancer Society for lung cancer in the US for 2023, about 238,340 new lung cancer cases were registered; of these, 120,790 in women and 117,550 in men were reported.

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Global Lung Cancer Screening Market – Report Scope:

Browse key market insights spread across 188 pages with 110 list of tables & 69 list of figures from the report, “Lung Cancer Screening Market Size and Forecast to 2030 – COVID-19 Impact and Global Analysis by Cancer Type [Non-Small Cell Lung Cancer (NSCLC) and Small Cell Lung Cancer], Technology [Low-Dose Computed Tomography (LDCT), Chest X-Ray, Liquid Biopsy, and Others], Age Group (50 & Older and Below 50), and End User (Hospitals, Diagnostic Centers, and Others)” in detail along with the table of contents: https://www.theinsightpartners.com/reports/lung-cancer-screening-market

Global Lung Cancer Screening Market: Competitive Landscape and Key Developments
Intelerad Medical Systems Incorporated; Nuance Communications Inc; GE HealthCare Technologies Inc; Medtronic Plc; Canon Medical Systems Corp; Koninklijke Philips NV; Siemens AG; Aetna Inc; bioAffinity Technologies, Inc.; and LungLife AI, Inc. are among the key companies operating in the lung cancer screening market. Leading players adopt strategies such as the launch of new products, expansion and diversification of their market presence, and expansion of new customer base for tapping prevailing business opportunities. Market players are adopting organic and inorganic growth strategies to expand their footprint in the lung cancer screening market by accounting largest share.

In May 2021, Genetron Holdings Limited announced a strategic partnership 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 NSCLC patients with efficient and accurate personalized diagnosis and treatment guidance.

In November 2021, GE Healthcare and Optellum collaborated to advance precision diagnosis and treatment of lung cancer. Together, the companies seek 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.

Global Lung Cancer Screening Market: End User Overview
The lung cancer screening market, based on end user, is segmented into hospitals, diagnostic centers, and others. The hospitals segment held the largest share of the lung cancer screening market in 2022. Hospitals are the fastest-growing end users of the lung cancer screening market. Hospitals are the primary healthcare centers patients seek for their first aid and treatment. The number of patients visiting hospitals is more than other healthcare centers. These centers offer various services and good-quality treatment. The treatment fee is reimbursed; also, medicines are available quickly in these healthcare centers.

The cost of medical facilities has seen a spike in the past few decades. Advanced diagnostic technologies have paved the way for early and improved detection of disease as well as supported research for disease treatment. Increasing affordability and awareness among people is expected to continue to spur the medical services. It is evident in many countries, as it contributes significantly toward GDP growth.

Hospitals are complex organizations that provide healthcare services such as disease screening, diagnosis, and treatment with the help of modernized equipment. The increasing number of hospital admissions, coupled with high prevalence of lung cancer, is projected to drive the lung cancer screening market growth for the hospital segment during the forecast period.

Global Lung Cancer Screening Market: Segmentation Overview
Based on cancer type, the lung cancer screening market is bifurcated into non-small cell lung cancer (NSCLC) and small cell lung cancer (SCLC). The NSCLC segment held a larger share of the market in 2022 and SCLC is anticipated to register a higher CAGR in the market during the forecast period. NSCLC occurs when abnormal cells proliferate in the lung tissues. There are three primary forms of NSCLC cancer—adenocarcinoma, squamous cell carcinoma, and large cell carcinoma. Adenosquamous carcinoma and sarcomatoid carcinoma are other subtypes of NSCLC, which are substantially less frequent. 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. It can begin in any part of the lung and is known to grow and spread quickly. The aforementioned factors are responsible for driving the lung cancer screening market for the segment.

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Likewise, SCLC usually initiates in the bronchi or the airways, which lead from the trachea and enter the lungs and then branch off progressively into tiny air sacs called alveoli. After affecting the bronchi, SCLC quickly proliferates and spreads to other body parts, including the lymph nodes. According to National Foundation for Cancer Research, this type of lung cancer represents less than 20% of lung cancers and is commonly caused by tobacco smoking. SCLC is categorized into small cell carcinoma and combined small cell carcinoma. These two categories differ in the small cells when scanned under a microscope. Small cell carcinoma is the prevalent type of SCLC and appears flat under a microscope, resembling oats. Combined small cell carcinoma refers to a tumor comprising small cell carcinoma cells and a small number of NSCLC cells. The aforementioned factors are responsible for accounting maximum CAGR for the segment during the forecast period from 2022 to 2030.

Go through further research published by The Insight Partners: (Purchase with 10% Instant Discount):

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