The United States Preventive Services (USPSTF) recommends annual screening for lung cancer, using low-dose computed tomography (LDCT), in adults aged 50 to 80 who have a history of or current smoking. Lung cancer occurs in people who use tobacco, are exposed to asbestos, and because of a family history of lung cancer. Lung cancer usually starts in parts of the lung, such as the alveoli or bronchioles. Small cell lung cancer and non-small cell lung cancer are the two main types of lung cancer. In small cell lung cancer, the malignant cells are small and round when viewed under a microscope. However, in non-small cell lung cancer, the malignant cells are larger under a microscope. Therefore, early detection of lung cancer can reduce the risks associated with the spread of the cancer.
The global lung cancer screening market garnered $879.6 million in 2021, and is estimated to generate $1.8 billion by 2031, manifesting a CAGR of 7.7% from 2022 to 2031. The report provides an extensive analysis of changing market dynamics, major segments, value chain, competitive scenario, and regional landscape. This research offers a valuable guidance to leading players, investors, shareholders, and startups in devising strategies for the sustainable growth and gaining competitive edge in the market.
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- The outbreak of the COVID-19 pandemic had a negative impact on the growth of the global lung cancer screening market, as the pandemic led to implementation of the global lockdown and strict following of the social distancing rules, thereby resulting in a significant decrease in demand for the lung cancer screening devices.
- The main cause of the interruption experienced by patients getting screening tests done from the hospitals.
- In addition, significant disruption in lung cancer screening led to decrease in new patients screened, thus reducing the demand for lung cancer screening solution and devices in 2020.
- However, the market is likely to recover soon in the post-pandemic.
The research provides detailed segmentation of the global lung cancer screening market based on type, age group, end user, and region. The report analyzes the segments and their sub-segments in detail with the help of tables and figures. Market players and investors can design strategies based on the highest revenue generating and fastest growing segments mentioned in the report.
By type, the low-dose computed tomography (LDCT) segment had the highest share in 2021, accounting for nearly three-quarters of the global lung cancer screening market, and is expected to maintain its leadership throughout the year. reference period. Furthermore, the same segment is expected to experience the highest CAGR of 8.0% between 2022 and 2031. The report also looks at the X-ray segment. By age group, the 50+ segment accounted for the largest share in 2021, contributing nearly three-quarters of the global lung cancer screening market and is expected to maintain its revenue leadership for the forecast period . Furthermore, the same segment is expected to exhibit the highest CAGR of 7.9% from 2022 to 2031. The report also analyzes segments below 50.
Based on end user, the diagnostic centers segment accounted for the highest share in 2021, holding more than half of the global lung cancer screening market, and is expected to continue its leadership status during the forecast period. The report also discusses segments including hospitals and others.
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Based on region, North America held the largest share in 2021, contributing to nearly half of the global lung cancer screening market share, and is projected to maintain its dominant share in terms of revenue in 2031. In addition, the Asia-Pacific region is expected to manifest the fastest CAGR of 9.4% during the forecast period. The research also analyzes regions including Europe and LAMEA.
Leading market players of the global lung cancer screening market analyzed in the research include Canon Medical Systems Corporation, Eon Health, FUJIFILM Holdings Corporation, General Electric incorporated (GE Healthcare), Koninklijke Philips N.V., Medtronic plc, Nuance Communications, Inc., Penrad Technologies Inc, Siemens AG (Siemens Healthineers AG), Volpara Solutions Limited
The report provides a detailed analysis of these key players of the global lung cancer screening market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.