Lung Cancer Screening Market Prognosticated For A Ravishing Growth By 2030 | Koninklijke Philips N.V., Siemens Healthcare GmbH

Lung Cancer Screening Market Prognosticated For A Ravishing Growth By 2030 | Koninklijke Philips N.V., Siemens Healthcare GmbH
Lung Cancer Screening Market | Emergen Research
Increasing incidence of lung cancer, in turn, rising demand for early diagnosis is a key factor driving lung cancer screening market revenue growth

The global lung cancer screening market size was USD 2.80 Billion in 2021 and is expected to register a revenue CAGR of 8.1% during the forecast period, according to latest analysis by Emergen Research. High cigarette consumption increasing incidence of lung cancer is a major factor driving market revenue growth.

Lung cancer is one of the main causes of cancer death, accounting for around 25% of all cancer fatalities. Cigarette smoking has been identified as a significant risk factor for developing Non-Small Cell Lung Cancer (NSCLC), along with other environmental and genetic risk factors. Approximately 80% of lung cancer fatalities are caused by smoking, with remaining being caused by secondhand smoke exposure. According to World Health Organization, rise in worldwide tobacco consumption, particularly in Asia, is responsible for a continued rise in lung cancer mortality.

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In addition, lung cancer cases has been increased due to factors such as water pollution, age, radiation exposure, air pollution (polycyclic aromatic hydrocarbons), and prolonged exposure to certain chemicals, gases, or pollutants including asbestos, beryllium, arsenic, nickel, and chromium. With the advent of genetic and biomarker testing, which has several potential prospects in the market, certain mutations have been found for better-personalized target treatment for patients, thus, there is a rise in demand for lung cancer screening for early diagnosis, which is driving revenue growth of the market. 

However, rising incidence of false diagnosis is expected to restrain market growth. According to research, screening by Chest X-rays has a false-positive incidence of between 5% and 10%. False-positive tests might lead to unnecessary and intrusive diagnostic procedures, hence screening process will probably lead to doctors treating patients who don’t require treatment, resulting in some patients receiving unnecessary chemotherapy, radiation, and surgery. 

The latest research report named ‘Global Lung Cancer Screening Market – Forecast to 2030’, entails a comprehensive review of the global Lung Cancer Screening market’s present and future trends. The report gathers viable information on the most established industry players, sales and distribution channels, regional spectrum, estimated market share and size, and revenue estimations over the forecast timeframe. The study is inclusive of a profound analysis of this business sphere focuses on the overall remuneration of the market over the projected period.

The report also discusses key players involved in the market, such as Koninklijke Philips N.V., Siemens Healthcare GmbH, Canon Medical Systems Corporation, General Electric Company, FUJIFILM Holdings Corporation, Medtronic, Nuance Communications, Inc., Eon, PenRad Technologies Inc., and Volpara Health Limited and others as well as new entrants in the market. The competitive analysis also includes regional analysis of major geographical regions. The report covers regions such as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

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Emergen Research has segmented the global lung cancer screening market based on cancer type, diagnosis type, end-use, and region:

Cancer Type Outlook (Revenue, USD Billion; 2019-2030)

Non-small Cell Lung Cancer (NSCLC)

Small Cell Lung Cancer

Diagnosis Type Outlook (Revenue, USD Billion; 2019-2030)

Low Dose Spiral CT Scan

Chest X-Ray

End-use Outlook (Revenue, USD Billion; 2019-2030)

Hospitals & Clinics

Diagnostic Centers

Key Questions Answered in the Report:

What is the anticipated Lung Cancer Screening market growth rate until 2030?

Who are the market’s leading vendors, distributors, and producers?

What factors will propel and impede the Lung Cancer Screening market’s growth over the course of the forecast?

What are the Lung Cancer Screening market’s present and foreseeable market trends?

What are the product’s sales and price analyses by categories, uses, and geographical areas?

What opportunities are anticipated for businesses and new entrants in the upcoming years?

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At Emergen Research, we believe in advancing with technology. We are growing market research and strategy consulting company with an exhaustive knowledge base of cutting-edge and potentially market-disrupting technologies that are predicted to become more prevalent in the coming decade.

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