DUBLIN--(BUSINESS WIRE)--The "Lung Cancer Diagnostics - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Amid the COVID-19 crisis, the global market for Lung Cancer Diagnostics estimated at US$2.5 Billion in the year 2020, is projected to reach a revised size of US$4.3 Billion by 2027, growing at a CAGR of 8.1% over the analysis period 2020-2027.
Imaging Tests, one of the segments analyzed in the report, is projected to grow at a 8% CAGR to reach US$2.2 Billion by the end of the analysis period.After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Sputum Cytology segment is readjusted to a revised 8% CAGR for the next 7-year period. This segment currently accounts for a 10.9% share of the global Lung Cancer Diagnostics market.
The U.S. Accounts for Over 27% of Global Market Size in 2020, While China is Forecast to Grow at a 12.3% CAGR for the Period of 2020-2027
The Lung Cancer Diagnostics market in the U.S. is estimated at US$668.5 Million in the year 2020. The country currently accounts for a 27.02% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$968.2 Million in the year 2027 trailing a CAGR of 12.2% through 2027.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.4% and 7.2% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 5.3% CAGR while Rest of European market (as defined in the study) will reach US$968.2 Million by the year 2027.
Molecular Tests Segment Corners a 14% Share in 2020
In the global Molecular Tests segment, USA, Canada, Japan, China and Europe will drive the 8% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$260.7 Million in the year 2020 will reach a projected size of US$446.8 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$592.9 Million by the year 2027, while Latin America will expand at a 10.1% CAGR through the analysis period.
Select Competitors (Total 48 Featured) -
- Abbott Diagnostics - Core Laboratory
- Dr Lal PathLabs
- F. Hoffmann-La Roche AG
- Illumina Inc.
- Myriad Genetics Inc.
- NanoString Technologies
- NeoGenomics Laboratories Inc.
- PlexBio Co., Ltd.
- QIAGEN GmbH
- Quest Diagnostics
- Thermo Fisher Scientific Inc.
Key Topics Covered:
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Early Detection of Lung Cancer Takes Precedence, Driving the Demand for Lung Cancer Diagnostics
- Non-small Cell Lung Cancer - The More Prominent of the Two Lung Cancer Types
- Imaging Tests Segment Dominates the Market, Molecular Tests Category to Witness High Growth
- US Leads the Lung Cancer Diagnostics Market, Asia-Pacific to Witness Fastest Growth
- Impact of Covid-19 and a Looming Global Recession
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
- Increasing Prevalence and Incidence of Lung Cancer to Push the Demand for Early Diagnoses
- Age-Standardized Lung Cancer Rates for Select Countries
- Age-Standardized Lung Cancer Rates in Men for Select Countries
- Age Standardized Lung Cancer Rates in Women for Select Countries
- Lung Cancer-Specific Biomarkers to Spur Market Growth
- Select Lung Cancer Biomarkers
- New Potential Biomarker for Early Stage Lung Cancer Identified in a Recent NCI Study (2019)
- Advancements and Research Initiatives in Lung Cancer Diagnostics Space
- EFIRM Test for Detection of Lung Cancer-related EGFR Mutations in NSCLC Patients
- A Glance at Select Recent Launches of Lung Cancer Diagnostic Tests
- New Product Launches/Approvals in the Lung Cancer Diagnostics
- Recent Approvals
- Liquid Biopsies Grow in Value as a Diagnostic Tool Supporting Therapy Decisions in NSCLCs
- Effervescent Rate of New Innovations & Product Development Will Make Liquid Biopsy a Readily Available Option for Patients in the Coming Years
- High Cigarette Consumption/Rise in Prevalence of Smoking Increases the Incidence of Lung Cancer
- Cigarette Consumption Per Year Per Person Across Select Countries: 2016
- Top 15 Countries with the Highest Smoking Rates: 2015
- Increasing Number of Awareness Programs for Lung Cancer and Symptoms
- Growing Availability of Government/Private Funding for R&D to Develop Lung Cancer Diagnostics
- Aging Demographics & Unhealthy Lifestyles Raise the Risk of Cancer
- Cancer Prone Sites based on Age
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
For more information about this report visit https://www.researchandmarkets.com/r/75xhc5