Lung Cancer Diagnostics Market is Expected to Witness Healthy Growth at 7.3% CAGR through 2031

A recent study by Fact.MR on the lung cancer diagnostics market offers a 10-year forecast for 2021 to 2031.

Bottom-up approach is always used to obtain Lung Cancer Diagnostics insightful data for the specific country/regions. The country specific data is again analyzed to derive data at a global level. Specific factors/parameters are considered related to the individual Lung Cancer Diagnostics market and quantified with insightful rationale.

Increasing prevalence of diseases across the globe is generating huge demand for advanced healthcare system. As a result, more and more technologically advanced medical devices are being employed to aid medical Practitioners and professionals in medical setups. Sales of Lung Cancer Diagnostics devices are soaring rapidly.

The Demand analysis of Lung Cancer Diagnostics Market offers a comprehensive analysis of diverse features, demand, product developments, revenue generation, and sales of Lung Cancer Diagnostics Market across the globe.

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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

Technological Innovation in Medical Devices Revolutionizing the Healthcare System

The medical device industry is a heterogeneous, innovative and dynamic sector. From telemedicine to artificial intelligence, robotic surgery and 3D printing, technology is revolutionizing the healthcare industry.

The intersection of healthcare and technology has led to numerous advancements in medical devices. New age medical technology has transformed the way doctors and patients participate and interact with each other. Introduction of advanced medical devices such as drug-device combinations (DDCs), preventive and predictive equipment’s, self-care devices is completely transforming the medical world.

Increasing investments by public and government bodies in healthcare sector is positively impacting the Lung Cancer Diagnostics market. Governments across the globe are introducing various initiatives to strength the medical device sector with major emphasis on research and development (R&D).

Lung Cancer Diagnostics manufacturing companies and healthcare service providers have started offering personalized patient care and access to complete end-to-end medical device products and services. They are focusing on developing and enhancing product prototyping and minimizing operation cost.

With the onset of COVID-19 pandemic the sales of Lung Cancer Diagnostics witnessed a huge upsurge and the trend is likely to continue in the future.

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Competitive Landscape

Prominent players are embracing innovative approaches such as ground-breaking marketing tactics, technological advances for cancer screening, mergers, and acquisitions.

In March 2021, Next-generation sequencing (NGS)-based precision oncology provider Geneseeq Technology Inc. collaborated with Illumina, Inc. to develop comprehensive in-vitro diagnostic (IVD) NGS testing kits for cancer, using Illumina’s NextSeq™ 550Dx sequencing platform.
In Jan 2017, Abbott Laboratories completed largest the acquisition of St.Jude Medical for US$ 25 Bn. Together, the company will compete in nearly every area of the $30 billion cardiovascular markets and hold the No. 1 or 2 positions across large and high-growth cardiovascular device markets

Some Notable Offerings by Fact.MR Report on Lung Cancer Diagnostics market:

We will provide you an analysis of the extent to which this Lung Cancer Diagnostics market research report acquires commercial characteristics along with examples or instances of information that helps you to understand it better.
We will also help to identify customary/ standard terms and conditions, as offers, worthiness, warranty, and others.
Also, this report will help you to identify any trends to forecast growth rates.
The analyzed report will forecast the general tendency for supply and demand.

Report Benefits & Key Questions Answered

Lung Cancer Diagnostics Category and segment level analysis: Fact MR offers detailed analysis of the factors influencing the sales prospect across key segments. Lung Cancer Diagnostics category analysis provides deep insights into customer experiences, emerging trends and growth drivers. The vital information highlighted in this section will enable market players to make timely business decision to gain competitive advantage.
Lung Cancer Diagnostics Manufacturing trend analysis: A key aspect of the study is comprehensive Lung Cancer Diagnostics manufacturing trend analysis. These insights provide vital information on how market players are coping with latest trends that are prevailing in the market.
Innovation and acquisition activity in Lung Cancer Diagnostics: The report highlights in detail the various organic and inorganic strategies adopted manufacturers in order to gain a competitive edge in Lung Cancer Diagnostics market. Adoption of various technologies are being discussed in detail.
Lung Cancer Diagnostics demand by country: The report forecasts the country wise demand for Lung Cancer Diagnostics between 2021 and 2031. By analyzing this section of the report, Lung Cancer Diagnostics manufacturers can accordingly invest in those regions where the demand is on the rise.
Post COVID consumer spending on Lung Cancer Diagnostics: The Fact.MR market survey also highlights the impact of COVID-19 on medical devices industry. These insights provide vital information on how market players are executing their manufacturing strategies to coup with the COVID-19 pandemic.

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.

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After reading the Market insights of Lung Cancer Diagnostics Report, readers can:

Understand the drivers, restraints, opportunities and trends affecting the Sales of market.
Analyze key regions holding significant share of total Lung Cancer Diagnostics market revenue.
Study the growth outlook of Lung Cancer Diagnostics market scenario, including production, consumption, history and forecast.
Learn consumption pattern and impact of each end use & supply side analysis of Lung Cancer Diagnostics market.
Investigate the recent R&D projects performed by each market player & competitive analysis of Lung Cancer Diagnostics Market Players.

How Fact.MR Assists in Making Strategic Moves For Lung Cancer Diagnostics Market Manufacturer?

The data provided in the Lung Cancer Diagnostics market report offers comprehensive analysis of important industry trends. Industry players can use this data to strategize their potential business moves and gain remarkable revenues in the upcoming period.
The report covers the price trend analysis and value chain analysis along with analysis of diverse offering by market players. The main motive of this report is to assist enterprises to make data-driven decisions and strategize their business moves.

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