Lung Cancer Diagnostic Kits Size shall reach a value of $xx Million in 2028, growing with a CAGR of 9.1% during the forecast period of 2021 to 2028.
Lung Cancer Diagnotic kits Market Growth and Trends
The global lung cancer diagnostic kits market holds a market value of US$ 300 million in 2020 and is expected to grow at a CAGR of 8% to a projected market value of US$ 1.6 billion by 2025. The increasing healthcare technology is the major driving factor behind the growth of the lung cancer diagnostic kits market.
The increasing urbanization has lead to a rise in the number of lung cancer occurrences. This has significantly increased the need for diagnostic tests and analysis modes for the lung cancer. The increasing degenerative lifestyle changes among the rising population such as smoking and consumption of tobacco and alcohol, infections, and pollution has propelled the market growth. The consumption of tobacco alone results in the death of 6 million people every year by inducing lung cancer.
The increasing awareness has resulted in the need for early lung cancer diagnosis among end-users. This has been the major contributor to propel the lung cancer diagnostic kit market forward as only 15% of the cases of lung cancer get diagnosed at early stages while the other cases remain undiagnosed until it develops to more critical end-stages.
The introduction of innovative technologies in detecting malignancies is a major growth factor for the diagnostic kit market. The existing need for more precise and accurate diagnosis of lethal lung cancer cases is positively influencing the market growth for the lung cancer diagnostic kits market. The molecular tests segment is forecasted to witness high growth with a CAGR of 10% by 2025. The updating and advancing molecular diagnostic technology have added more advantages to the development of molecular-based diagnostic test kits. The imaging tests segment is presently holding the major market share and is forecasted to remain the most contributors to the global revenue for the next decade. The molecular tests and biopsy segments are expected to share a similar market share in the coming years. The sputum cytology segment closely follows the former in the market share values.
The highly invested R&D sector is establishing constant technological advancements in the lung cancer diagnostic testing kits. Governments and private institutes are investing high funds to the R&D sector for developing and updating diagnostic kits. The strategic marketing employed by the top market players by merging and collaborating is expected to fuel the market growth for lung cancer diagnostic test kits.
Lung Cancer Diagnotic kits Industry Regional Analysis
Lung Cancer Diagnotic kits Market Research Report Scope/Definition
Lung Cancer Diagnotic kits Market Share and Competition Key companies operating in this industry are: Roche Diagnostics, bioMérieux, Qiagen N.V., Agilent Technologies, Thermo Fisher Scientific, AstraZeneca plc, Illumina Inc., Janssen Pharmaceuticals, Inc., and Sanofi S.A.
Lung Cancer Diagnotic kits Market Research Report Analysis Highlights
• Historical data available (as per request)
• Estimation/projections/forecast for revenue and unit sales (2021 – 2028)
• Data breakdown for every market segment (2021 – 2028)
• Gross margin and profitability analysis of companies
• Price analysis of each product type
• Business trend and expansion analysis
• Import and export analysis
• Competition analysis/market share
• Supply chain analysis
• Client list and case studies
• Market entry strategy
Industry Segmentation and Revenue Breakdown
Type Analysis (Revenue, USD Million, 2021 - 2028)
• Small Cell Lung Cancer
• Non-small Cell Lung Cancer
Application Analysis (Revenue, USD Million, 2021 - 2028)
• Imaging Test
• Sputum Cytology
• Molecular Test
Region Analasis (Revenue, USD Million, 2021 - 2028)
• United States
• United Kingdom
• South Korea
• Middle East
• Rest of World
Lung Cancer Diagnotic kits Industry Companies
• Roche Diagnostics,
• Qiagen N.V.,
• Agilent Technologies,
• Thermo Fisher Scientific,
• AstraZeneca plc,
• Illumina Inc.,
• Janssen Pharmaceuticals, Inc.,
• Sanofi S.A.
Available Versions of Lung Cancer Diagnotic kits Market: -
United States Industry Research Report
Europe Industry Research Report
Asia Pacific Industry Research Report
India Industry Research Report