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Lung Cancer Screening Market is expected to reach US$ 4,363.95 million by 2030

The global Lung Cancer Screening market size is projected to grow from USD 2,326.5 million in 2022 to USD 4,363.95 million by 2030.

By The Insight Partners

According to our new research study on “Lung Cancer Screening Market Size and Forecast to 2030 – COVID-19 Impact and Global Analysis – by Cancer Type, Technology, Age Group, and End User,” the market is expected to grow from US$ 2,326.5 million in 2022 to US$ 4,363.95 million by 2030; it is estimated to record a CAGR 8.2% during 2022–2030. Factors such as increasing incidence of lung cancer and rising government support are driving the 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.

To get free sample copy of the report, along with the TOC, Statistics, and Tables please visit @ https://www.theinsightpartners.com/brochure/TIPRE00029996

Rising Government Support Drives Lung Cancer Screening Market Growth

The United States Preventive Services Task Force recommends people aged 55–80 with a 30-pack-year (equivalent to smoking 20 cigarettes per day for 30 years) smoking history who are presently smoking or have quit within the last 15 years to undergo annual low-dose computed tomography (LDCT) screening for lung cancer.

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. 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 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 several governments are boosting the lung cancer screening market growth. 

Impact of COVID-19 Pandemic on Lung Cancer Screening Market

The COVID-19 pandemic disrupted the lung cancer screening market and decreased the number of new patients screening worldwide. According to a study published in the Journal of Immunotherapy of Cancer, in Europe, 60% of cancer screenings were halted, and most reported that initiation visits had to be conducted remotely. Due to the similarity in indication of lung cancer and COVID-19, patients self-isolated to prevent the spread of infectious disease. Moreover, public health organizations’ advice to stay at home resulted in hesitation to attend healthcare services. As a result, the lung cancer screening industry was hampered severely during the pandemic.

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. Also, the crisis had a significant impact on the targeted lung cancer screening properly phased in and involved low-dose computed tomography (LDCT) and pathology that might have been restricted in availability and access due to the pandemic.

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 major players 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.

Lung Cancer Screening Market - Recent Developments: 

Inorganic and organic strategies such as mergers and acquisitions are highly adopted by companies in the lung cancer screening market. A few recent key market developments are listed below:

In June 2022, Royal Philips teamed up with Biodesix, Inc. to incorporate the results of Biodesix’s Nodify Lung blood-based lung nodule risk assessment testing into Philips Lung Cancer Orchestrator lung cancer patient management system.

In August 2022, Intelerad Medical Systems acquired PenRad Technologies, Inc., a software provider for enhancing breast imaging and lung screening productivity. The acquisition has expanded Intelerad’s product offerings for mammography and lung analytics, optimizing workflow for radiologists and boosting patient health outcomes.

The report segments the lung cancer screening market as follows:

The 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 lung cancer screening market growth. By technology, the lung cancer screening market is divided into chest X-ray, LDCT, liquid biopsy, and others. The LDCT segment will account maximum share of the lung cancer screening market during the forecast period. In terms of age group, the lung cancer screening market is bifurcated into 50 & older and below 50. The 50 & older segment will dominate the lung cancer screening market during the forecast period. In terms of end user, the 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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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

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