Pune, Sept. 26, 2023 (GLOBE NEWSWIRE) -- “The SNS Insider report indicates that in 2022, the Lung Cancer Screening Market had a valuation of USD 2.81 billion. It is projected to achieve a value of USD 5.13 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 7.8% during the forecast period from 2023 to 2030.”
Market Overview
Lung cancer screening is a medical procedure designed to detect lung cancer at an early stage, often before symptoms become apparent. This proactive approach to healthcare is especially important because lung cancer is known for its potential to advance rapidly, making early detection crucial for successful treatment and improved patient outcomes. Lung cancer screening has proven to be an effective tool in reducing lung cancer mortality rates, especially among high-risk populations, such as current or former heavy smokers. It offers the advantage of detecting lung cancer in its early stages when it is more treatable and often curable.
Market Analysis
The lung cancer screening market has witnessed significant growth in recent years, driven by various factors that are reshaping the healthcare landscape. Technological advancements have led to the development of more accurate and less invasive screening methods, such as low-dose computed tomography (LDCT) scans. These advancements make screening more accessible and appealing to both patients and healthcare providers. Public awareness campaigns and initiatives by healthcare organizations and governments have played a crucial role in promoting lung cancer screening. Increased awareness has led to higher patient participation and early detection. Government policies and healthcare reforms in some countries have included lung cancer screening as a part of preventive healthcare services. This policy support has increased the accessibility of screening programs.
Get a Free Sample Report of Lung Cancer Screening Market@ https://www.snsinsider.com/sample-request/3392
Major Players Listed in this Report Are:
- Koninklijke Philips
- Siemens Healthcare
- GE Healthcare
- Canon Medical Systems
- Medtronic
- EON
- PenRAD Technologies
- Volpara Solutions Limited
- Nuance Communications
- Fujifilm Holdings Corporation & Other Players
Lung Cancer Screening Market Report Scope:
| Report Attributes | Details |
| Market Size in 2022 | US$ 2.81 Bn |
| Market Size by 2030 | US$ 5.13 Bn |
| CAGR | CAGR of 7.8% From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2019-2021 |
| Key Regional Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
Key Takeaway from Lung Cancer Screening Market Study
- The landscape of lung cancer screening is rapidly evolving, and one key driver in this transformation is the pivotal role played by hospitals and clinics. These healthcare institutions have emerged as the backbone of lung cancer screening efforts, providing a vital platform for early detection and intervention.
- Among the various screening methods available for lung cancer, chest X-rays hold a prominent position. Chest X-rays are readily available in hospitals, clinics, and even smaller healthcare facilities, making them a cost-effective and accessible screening option. This accessibility ensures that a broader population can undergo regular screenings, potentially catching lung cancer at an earlier, more treatable stage.
Recent Developments
- Mercy BioAnalytics, a pioneering company dedicated to revolutionizing early cancer detection, has announced a significant milestone in its journey to combat one of humanity's most formidable adversaries. The company has successfully secured $41 million in a Series A funding round, highlighting the growing recognition of its groundbreaking approach to cancer diagnostics.
- Median Technologies, a leading innovator in medical imaging and data analytics, has marked a significant milestone by successfully completing the Q-Submission phase with the U.S. Food and Drug Administration (FDA) for its groundbreaking iBiopsy® Lung Cancer diagnostic solution.
Do you have any specific queries or need any customization research on Lung Cancer Screening Market, Enquiry Now@ https://www.snsinsider.com/enquiry/3392
Market Dynamics Analysis
The lung cancer screening market is characterized by a complex interplay of drivers, restraints, challenges, and threats. On the driver's side, the increasing incidence of lung cancer, particularly among smokers and individuals exposed to environmental carcinogens, fuels the demand for screening services. Advances in medical imaging technologies, such as low-dose CT scans, have also improved the accuracy of early-stage cancer detection, further propelling market growth. However, the market faces several restraints and challenges. High costs associated with screening procedures and equipment, as well as the need for skilled healthcare professionals to administer and interpret the tests, limit accessibility to these services for a significant portion of the population. Additionally, concerns about radiation exposure from CT scans and false-positive results leading to unnecessary anxiety and follow-up procedures can deter individuals from seeking screening.
Lung Cancer Screening Market Key Segmentation:
By Cancer Type
- Non-Small Cell Lung Cancer
- Small Cell Lung Cancer
By Diagnosis Type
- Low Dose Spiral CT scan
- Chest X-Ray
By End User
- Hospitals & Clinics
- Diagnostics Centres
Key Regional Developments
North America has one of the largest lung cancer screening markets due to its well-developed healthcare infrastructure and a high prevalence of smoking-related lung cancer cases. Lung cancer screening programs vary across European countries. Some countries, like the Netherlands, have well-established nationwide screening programs, while others are still in the early stages of implementation. In countries like China and India, where smoking rates are high, the potential market for lung cancer screening is substantial but largely untapped.
Impact of Recession on Lung Cancer Screening Market Growth
The ongoing recession has introduced several challenges to the lung cancer screening market, including decreased demand, reduced insurance coverage, delayed procedures, and constraints on public funding. The long-term effects will depend on the duration and severity of the recession and the ability of the healthcare industry to adapt to these economic challenges. Additionally, advancements in telemedicine and changes in healthcare priorities may reshape the market dynamics in the post-recession period.
Buy Single-User PDF of Lung Cancer Screening Market Report 2023-2030@ https://www.snsinsider.com/checkout/3392
Table of Contents
1. Introduction
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Lung Cancer Screening Market, By Cancer Type
9. Lung Cancer Screening Market, By Diagnosis Type
10. Lung Cancer Screening Market, By End User
11. Regional Analysis
12. Company profile
13. Competitive Landscape
14. Use Case and Best Practices
15. Conclusion
Access Complete Report Details@ https://www.snsinsider.com/reports/lung-cancer-screening-market-3392
[For more information or need any customization research mail us at info@snsinsider.com]
About Us:
SNS Insider is one of the leading market research and consulting agencies that dominates the market research industry globally. Our company's aim is to give clients the knowledge they require in order to function in changing circumstances. In order to give you current, accurate market data, consumer insights, and opinions so that you can make decisions with confidence, we employ a variety of techniques, including surveys, video talks, and focus groups around the world.
Browse Adjacent Markets: Information and Communication Technology Market Research or Healthcare Market Research Reports and Consulting
