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Australia Lung Cancer Screening Market is expected to reach US$ 6.12 million by 2030

Australia Lung Cancer Screening Market

By The Insight Partners

According to our new research study on “Australia Lung Cancer Screening Market Size and Forecast to 2030 – COVID-19 Impact and Country Analysis – by Cancer Type, Technology, Age Group, and End User,” the market is expected to grow from US$ 2.74 million in 2022 to US$ 6.12 million by 2030; it is estimated to record a CAGR 10.6% during 2022–2030. Factors such as increasing incidence of lung cancer and rising government support are driving the Australia lung cancer screening market growth.

Lung cancer screening is a process used to detect lung cancer in otherwise healthy people with a high risk of lung cancer. Lung cancer screening is recommended for older adults who are long time smokers and who don't have any signs or symptoms of lung cancer. Doctors use a LDCT scan of the lungs to look for lung cancer. If lung cancer is detected early, it is more likely to be cured with treatment.

Rising Government Support Drives Australia Lung Cancer Screening Market Growth

As per the Cancer Australia 2023 report, lung cancer is the most common form of cancer in Australia, accounting for the majority of the mortality rates. Furthermore, early detection of lung cancer helps improve survival rates. Also, the new screening program will help detect lung cancer during the early stages when treatment is not likely to be successful. For example, in July 2021, Cancer Australia partnered with the Department of Health and Aged Care to determine the feasibility of a lung cancer screening program in Australia.

Such rising government support, policies, and approvals by the Australian government are boosting the growth of the Australia lung cancer screening market.

Impact of COVID-19 Pandemic on Australia Lung Cancer Screening Market

With the onset of the COVID-19 pandemic, national cancer screening services were severely affected due to limited access to nonessential healthcare services and a rise in the requirement for enhanced infection control practices. As per the Public Research & Practice report, the pandemic had a major impact on Australia's established cancer screening programs and activities. Therefore, to control disruptions in healthcare services, in August 2019, the Federal Minister of Health of Australia announced the undertaking of a major national inquiry for conducting the feasibility of lung cancer screening. Also, the crisis had a significant impact on the targeted lung cancer screening properly phased in and involved low-dose computed tomography (CT) and pathology that might have been restricted in availability and access due to the pandemic.

Australia 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.; LungLife AI, Inc.; and Lung Screen Australia Pty Ltd are among the major players in the Australia 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.

The report segments the Australia Lung Cancer Screening market as follows:

The Australia lung cancer screening market is segmented on the basis of cancer type, technology, age group, and end user. Based on cancer type, the market is segmented into NSCLC and SCLC. NSCLC segment will account considerable share for Australia lung cancer screening market growth and size. By technology, the Australia lung cancer screening market is divided into chest X-ray, LDCT, liquid biopsy, and others. The chest X-ray segment will account maximum share of the Australia lung cancer screening market size. In terms of age group, the Australia lung cancer screening market is bifurcated into 50 & older and below 50. The 50 & older segment will account maximum share of the Australia lung cancer screening market. By end user, the Australia lung cancer screening market is segmented into hospitals, diagnostic centers, and others. The hospitals segment will record considerable market share during the forecast period of 2022–2030.

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