Impact of Covid-19 on Healthcare Industry
With the pandemic plaguing maximum countries across the globe, healthcare industry is witnessing its fair share of ‘ups and downs’. The COVID-19 has placed an enormous strain on the healthcare sector’s workforce, facilities and infrastructure. Despite the endless pressure, healthcare sector is growing at a moderate pace due to the improvement in infrastructure and advancement in technology, healthcare sector is delivering a healthy performance.
According to a recent report by Fact.MR, the global demand for lung cancer diagnostics is anticipated to register 7.3% CAGR throughout the forecast period 2017 to 2022.
Growth of the global lung cancer diagnostics market is mainly attributed to surging developments in the lung cancer-specific biomarkers. Diagnostic tools, such as these, will facilitate personalized treatment approach for lung malignancies.
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Numerous biomarkers are in the research pipeline. Epigenomics AG has launched a new test which is based on blood by utilizing DNA methylation biomarkers, and their developments are in process. Initial results of these tests have guaranteed early diagnosis of lung cancer. These incidences are most likely to increase demand for diagnosis of lung cancer across the globe.
10 Key Takeaways from Fact.MR’s Report on the Global Lung Cancer Diagnostics Market
- North America is expected to remain dominant in the global lung cancer diagnostics market, with revenues expected to surpass US$ 1,000 Mn by 2022-end.
- Europe will continue to be the second most lucrative region for growth of the market, expanding at a high single-digit CAGR through 2022.
- CA tests will remain the largest adopted tests for diagnosis of lung cancer. Revenue from CA tests is expected to reach US$ 889.3 Mn by the end of 2022.
- Angiogenesis inhibitor tests will exhibit the fastest expansion in the global market for lung cancer diagnostics, followed by HER 2 tests. However, revenue from ALK tests to diagnose lung cancer is estimated to be low in the market throughout the forecast period.
- Hospital-associated labs are expected to remain the most lucrative among end-users in the global lung cancer diagnostics market.
- Cancer research institutes are expected to register the fastest growth in the global market for lung cancer diagnostics.
- Independent diagnostic laboratories are expected to be the second largest end-users of lung cancer diagnostics throughout the forecast period.
- Based on indication, even though non-small cell lung cancer will remain sought-after, small cell-lung cancer will exhibit the fastest growth through 2022. Non-small cell lung cancer will continue to account for the largest revenues during the forecast period.
- Revenue from small cell lung cancer will continue to be low in the global lung cancer diagnostics market.
Fact.MR’s report profiles key market players, which include
Illumina, Inc.
Abbott Laboratories
Thermo Fischer Scientific Inc.
QIAGEN N.V.
Quest Diagnostics Incorporated
NeoGenomics Laboratories, Inc.
NanoString Technologies, Inc.
Myriad Genetics, Inc.
Roche Holding AG
Danaher Corporation.
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Global Lung Cancer Diagnostics Market: Segmentation
For clearer understanding of the Lung Cancer Diagnostics Market, analysts have segmented the market. The segmentation has been done on the basis of application, technology, and users. Each segment has been further explained with the help of graphs figures. This breakdown of the market gives the readers an objective view of the global Lung Cancer Diagnostics Market, which is essential to make sound investments.
Market Taxonomy
| Test Type | End User | Indication |
| CA Test | Hospital Associated Labs | Non Small-cell Lung Cancer |
| HER2 Tests | Independent Diagnostic Laboratories | Small-cell Lung Cancer |
| ALK Tests | Cancer Research Institutes | |
| Angiogenesis Inhibitor | Others | |
| EGFR Mutation Tests | ||
| KRAS Mutation Tests | ||
| Others |
A market research study is incomplete without regional analysis, and we are well aware of it. That is why, the report includes a comprehensive and all-inclusive study that solely concentrates on the geographical growth of the global Lung Cancer Diagnostics Market. The study also includes accurate estimations about market growth at the global, regional, and country levels. It empowers you to understand why some regional markets are flourishing while others are seeing a decline in growth. It also allows you to focus on geographies that hold the potential to create lucrative prospects in the near future.
Segmentation:
Test Type
- CA Test for Lung Cancer Diagnostics
- HER2 Tests for Lung Cancer Diagnostics
- ALK Tests for Lung Cancer Diagnostics
- Angiogenesis Inhibitor for Lung Cancer Diagnostics
- EGFR Mutation Tests for Lung Cancer Diagnostics
- KRAS Mutation Tests for Lung Cancer Diagnostics
- Others
End-User
- Lung Cancer Diagnostics for Hospital Associated Labs
- Lung Cancer Diagnostics for Independent Diagnostic Laboratories
- Lung Cancer Diagnostics for Cancer Research Institutes
- Others
Indication
- Non-Small-cell Lung Cancer Diagnostics
- Small-cell Lung Cancer Diagnostics
Following Questions Answers Covered in the Report are:
- How will the global Lung Cancer Diagnostics Market perform during the forecast period? What will be the market size in terms of value and volume?
- Which segment will drive the global Lung Cancer Diagnostics Market? Which regional market will show extensive growth in the future? What are the reasons?
- How will the market dynamics change because of the impact of future market opportunities, restraints, and drivers?
- What are the key strategies adopted by players to sustain themselves in the global Lung Cancer Diagnostics Market?
- How will these strategies influence the market growth and competition?
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Regional analysis includes
- North America (U.S., Canada)
- Latin America (Brazil, Mexico, Argentina, Chile, Peru, Rest of LATAM)
- EU – (Germany, France, Italy, Spain), UK, BENELUX (Belgium, Netherlands, Luxemburg), NORDIC (Norway, Denmark, Iceland, Sweden), Eastern Europe (Poland, Ukraine, Czech Rep. etc.), Rest of Europe
- CIS & Russia
- Japan
- Asia Pacific Excluding Japan (Greater China, India, S. Korea, ASEAN Countries, Rest of APEJ)
- Middle East and Africa (GCC Countries, Turkey, Iran, Israel, South Africa , Rest of MEA)
The Report Covers Exhaustive Analysis On:
- Market Segments
- Market Dynamics
- Market Size & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Technology
- Value Chain
The Lung Cancer Diagnostics Market report answers the following queries:
- What is the largest share held by key players in the market?
- What strategies have proven most advantageous in the Lung Cancer Diagnostics Market?
- Which region promises largest opportunity for new investors during the forecast period 2021 to 2031?
- What factors will most likely present challenges to growth during the forecast period?
- What will be the value of total revenues, and at what CAGR will the growth compound during the forecast period 2021 to 2031?
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