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Increasing incidence of lung cancer, in turn, rising demand for early diagnosis is a key factor driving lung cancer screening market revenue growth

VANCOUVER, B.C., CANADA, April 5, 2023 /EINPresswire.com/ -- The global lung cancer screening market size was USD 2.80 Billion in 2021 and is expected to register a revenue CAGR of 8.1% during the forecast period, according to latest analysis by Emergen Research. High cigarette consumption increasing incidence of lung cancer is a major factor driving market revenue growth.

Lung cancer is one of the main causes of cancer death, accounting for around 25% of all cancer fatalities. Cigarette smoking has been identified as a significant risk factor for developing Non-Small Cell Lung Cancer (NSCLC), along with other environmental and genetic risk factors. Approximately 80% of lung cancer fatalities are caused by smoking, with remaining being caused by secondhand smoke exposure. According to World Health Organization, rise in worldwide tobacco consumption, particularly in Asia, is responsible for a continued rise in lung cancer mortality.

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In addition, lung cancer cases has been increased due to factors such as water pollution, age, radiation exposure, air pollution (polycyclic aromatic hydrocarbons), and prolonged exposure to certain chemicals, gases, or pollutants including asbestos, beryllium, arsenic, nickel, and chromium. With the advent of genetic and biomarker testing, which has several potential prospects in the market, certain mutations have been found for better-personalized target treatment for patients, thus, there is a rise in demand for lung cancer screening for early diagnosis, which is driving revenue growth of the market.

How will this Report Benefit you?

The 250-page report by Emergen Research contains 194 tables and 189 charts and graphs. Anyone in need of a commercial, in-depth assessment of the global Lung Cancer Screening market and comprehensive market segment analysis can benefit from our new research. With the latest research, you can estimate the entire Lung Cancer Screening regional and global markets. To grow your market share, get financial analysis of the entire market and its various segments. We believe there is great potential for fast-growing energy storage technology in this industry. Find out how to leverage current and potential revenue streams in this area. Research also helps you make better strategic decisions, allowing you to formulate growth strategies, enhance competitive analysis, and improve business productivity.

Some Key Highlights From the Report

The Non-Small Cell Lung Cancer (NSCLC) segment accounted for largest revenue share in 2021. In Asian countries, rapid industrial expansion and suburbanization are factors contributing to rising frequency of NSCLC and increasing need for therapy. Early-stage diagnosis can increase 5-year survival to 80%, which is expected to have significant benefits for outlook of NSCLC, as a result, there is an increasing demand for lung screening technology for early diagnosis, which is driving revenue growth of this segment.

The Low Dose spiral CT (LDCT) scan segment accounted for largest revenue share in 2021. Since the development of LDCT scan, 80%–90% of instances of early-stage, invasive stage I lung cancer can be identified reducing mortality from lung cancer. According to Radiological Society of North America (RSNA) and American College of Radiology (ACR), an LDCT scan uses 90% less ionizing radiation than a conventional chest CT scan to provide high-quality pictures that aid in detection of minor abnormalities.

The diagnostic centers segment accounted for a moderate revenue share in 2021. For elderly people, diagnostic centers are an ideal alternative since they offer individualized treatment and reduce need for repeated hospital visits. In addition to having more control over scheduling of procedures, outpatient surgery facilities can be 45%–60% less expensive than hospitals, which benefits patients, insurance, and taxpayers equally. As a consequence, compared to unexpected hospital events, very few surgeries may need to be postponed or rescheduled.

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The report is an investigative study of the technological developments and product advancements, along with a regional analysis for each product and application offered in the market. The fundamental objective of the report is to give an insight into the workings of the Lung Cancer Screening industry. It provides an accurate and strategic outlook of the market with a thorough assessment of the segments and sub-segments of the market. It provides a panoramic view of the industry to offer a deeper understanding of the global industry.

Emergen Research has segmented the global lung cancer screening market based on cancer type, diagnosis type, end-use, and region:

Cancer Type Outlook (Revenue, USD Billion; 2019-2030)

Non-small Cell Lung Cancer (NSCLC)

Small Cell Lung Cancer

Diagnosis Type Outlook (Revenue, USD Billion; 2019-2030)

Low Dose Spiral CT Scan

Chest X-Ray

End-use Outlook (Revenue, USD Billion; 2019-2030)

Hospitals & Clinics

Diagnostic Centers

Competitive Landscape:

Furthermore, the report includes an in-depth analysis of the competitive landscape. The segment covers a comprehensive overview of the company profiles along with product profiles, production capacities, products/services, pricing analysis, profit margins, and manufacturing process developments. The report also covers strategic business measures undertaken by the companies to gain substantial market share. The report provides insightful information about recent mergers and acquisitions, product launches, collaborations, joint ventures, partnerships, agreements, and government deals.

Some major companies in the global market report include Koninklijke Philips N.V., Siemens Healthcare GmbH, Canon Medical Systems Corporation, General Electric Company, FUJIFILM Holdings Corporation, Medtronic, Nuance Communications, Inc., Eon, PenRad Technologies Inc., and Volpara Health Limited.

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Regional Landscape section of the Lung Cancer Screening report offers deeper insights into the regulatory framework, current and emerging market trends, production and consumption patterns, supply and demand dynamics, import/export, and presence of major players in each region.

Regional Analysis:

The report further examines the market in the key regions of the world with regard to production and consumption patterns, import/export, supply and demand ratio, revenue generation, market share and size, and presence of prominent players in the regions. The report also covers the expansion plans undertaken by companies in the regions under the regional analysis section.

Key regions in the market include:

North America

U.S.

Canada

Europe

U.K.

Italy

Germany

France

Rest of EU

Asia Pacific

India

Japan

China

South Korea

Australia

Rest of APAC

Latin America

Chile

Brazil

Argentina

Rest of Latin America

Middle East & Africa

Saudi Arabia

A.E.

South Africa

Rest of MEA

Objectives of the Report:

Study of the global Lung Cancer Screening market size by key regions, types, and applications with reference to historical data (2019-2020) and forecast (2022-2030)

Industrial structure analysis of the Lung Cancer Screening market by identification of various sub-segments

Extensive analysis of key market players along with their SWOT analysis

Competitive landscape bench marking

Analysis of Lung Cancer Screening market based on growth trends, futuristic outlook, and contribution to the total growth of the market

Analysis of drivers, constraints, opportunities, challenges, and risks in the global Lung Cancer Screening market

Comprehensive analysis of competitive developments such as expansions, agreements, new product launches, and other strategic alliances

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