Global Lung Cancer Diagnostic and Screening Market, by Test Type (Biomarkers Test (EGFR Mutation Test, KRAS Mutation Test, ALK Test, HER2 Test, Others), Imaging Test ( Computed Tomography (CT) scan, Positron Emission Tomography (PET) scan, Chest X-Ray, Others), Biopsy (Needle Biopsy, Bronchoscopy Biopsy, Open Biopsy, Others), By Cancer Type (Non-small cell lung cancer and Small Cell Lung Cancer), by End User (Hospital Associated Labs, Independent Diagnostic Laboratories, Diagnostic Imaging Centers, Cancer Research Institutes and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), is estimated to be valued at US$ 1,931.0 million in 2021 and is expected to exhibit a CAGR of 7.8% during the forecast period (2021-2028), as highlighted in a new report published by Coherent Market Insights.
Global Lung Cancer Diagnostic and Screening Market- Impact of Coronavirus (COVID-19) Pandemic
Lockdown in various countries due to the pandemic has placed an economic burden on the private healthcare sector. Healthcare providers are facing challenges with regards to declining outpatient’s visits, manpower, equipment, consumables, and other resources to ensure safety in treatment of patients with other diseases.
For instance, in December 2020, according to the Southern Surgical Association article, Low-Dose Computed Tomography (LDCT) screening reduces lung cancer mortality by at least 20%. The COVID-19 pandemic required an unprecedented shutdown in institutional low dose computed tomography (LDCT) programs. LDCT screenings was suspended on March 13, 2020 and 818 screenings were cancelled in US. Full reopening of screening was on June 1, 2020. After the opening it was seen new patient LDCTs were significantly decreased during the COVID-19 period. Thus, COVID-19 caused significant disruption in lung cancer screening, leading to a decrease in new patients screened and an increased in proportion of lung nodules for malignancy once screening resumed.
The increasing number of product launches, collaborations, and partnership strategies adopted by key players are the major factors are expected to drive growth of the global lung cancer screening market during the forecast period.
The increasing launch of lung cancer diagnostic test is expected to drive the global lung cancer diagnostic and screening market growth. For instance, in June 2019, Roche, launched in-vitro lung cancer diagnostic test VENTANA ROS1 (SP384) to target ROS1 positive lung cancer. Mutations of the ROS1 gene are present in some non-small cell lung cancer (NSCLC) cases and can help indicate, which patients would respond with a targeted treatment. These types of cancer are rare, found in up to 2% of non-small cell lung cancer cases.
Key players in the global lung cancer diagnostic and screening market are focused on adopting inorganic growth strategies such as collaborations and partnerships, which are expected to drive growth of the market during the forecast period. For instance, in March 2020, Thermo Fisher Scientific entered into a partnership with Janssen Biotech, a part of Johnson & Johnson to develop lung cancer companion diagnostic. Under the partnership, Thermo Fisher will work with Janssen Research & Development to identify and validate multiple biomarkers for Thermo Fisher’s Oncomine Dx Target Text. This will be utilized to identify variant-positive patients for clinical trials for non-small cell lung cancer (NSCLC).
Increasing collaboration and partnerships are expected to drive growth of global lung cancer diagnostic and screening market during the forecast period. For instance, in July 2020, AnchorDx, a leading biotechnology company developing novel NGS-based early cancer detection and disease monitoring tests, entered into a multi-year collaboration with the Lung Cancer Initiative at Johnson & Johnson to conduct a lung cancer study. The study is designed to enable the early detection and diagnosis of lung cancer. The collaboration was facilitated by Johnson & Johnson Innovation LLC.
Browse 35 Market Data Tables and 35 Figures spread through 210 Pages and in-depth TOC on Global Lung Cancer Diagnostic and Screening Test Market, by Test Type (Biomarkers Test, Imaging Test, Biopsy, and Others), by Cancer Type (Non-small cell lung cancer and Small Cell Lung Cancer), by End User (Hospital Associated Labs, Independent Diagnostic Laboratories, Diagnostic Imaging Centers, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Forecast to 2027"
To know the latest trends and insights related to Global Lung Cancer diagnostic and screening market, click the link below:
The rising adoption of inorganic growth strategies such as mergers and acquisitions by major companies are expected to drive growth of the global lung cancer diagnostic and screening market. For instance, on 2nd March 2021 Agilent Technologies Inc., entered into a definitive agreement to acquire Resolution Bioscience Inc., a leader in the development and commercialization of next-generation sequencing (NGS)-based precision oncology solutions. This acquisition helped Agilent Technologies Inc. to strengthen its product portfolio and expands its capabilities in NGS-based cancer diagnostics and provides the company with innovative technology to further serve the needs of the fast-growing precision medicine market.
Key Takeaways of the Global Lung Cancer Diagnostic and Screening Market:
Joining thousands of companies around the world committed to making the Excellent Business Solutions.