Lung Cancer Screening Market By Industry Demand, Worldwide Research, Prominent Players, Emerging Trends and Revenue Expectation till 2028
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions
The globalLung Cancer Screening Marketsize was USD 2.61 billion in 2020. The market is projected to grow from USD 2.80 billion in 2021 to USD 4.85 billion in 2028 at a CAGR of 8.1% in the 2021-2028 period. This report is provided by Fortune Business Insights™ in its report titled, “Lung Cancer Screening Market, 2021-2028.”
The market is flourishing owing to the rising smoking populace, technological progressions in cancer screening, and surging government backing for the early detection of this type of cancer. This is expected to stimulate the lung cancer screening market growth during the forecast period.
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Drivers and Restraints
Technological Developments in Lung Cancer Screening to Sustain Market Growth
Significant players in the clinical equipment industry are involved in the expansion of advanced products. The lung cancer screening and diagnosis segment is experiencing important technological advancements to satisfy the unfulfilled requirements of patients and consumers. Chief players are functioning in the market alongside the research-based start-ups that are in quest of finance for research and medical analysis of screenings solutions. The rising occurrence of cancer cases are accountable for encouraging market players to improve resourceful and cost-effective analytical and screening devices.
We have executed a unique research approach that includes statistics triangulation based on the celebrated bottom-up and top-down approaches. Our researchers have lead thorough principal research to validate the estimated size of the lung cancer screening industry. The data operated to portray the shares for multiple segments at the national, regional, and global levels is extracted from all-inclusive interviews with numerous investors. Our analysts have also achieved information from professional records, industry journals, SEC filings, and many other comparable resources.
List of Key Players Covered in this Market Report
- Koninklijke Philips N.V. (Amsterdam, Netherlands)
- Siemens Healthineers AG (Munich, Germany)
- Canon Medical Systems Corporation (Tochigi, Japan)
- GE Healthcare (Chicago, U.S.)
- FUJIFILM Holdings Corporation (Tokyo, Japan)
- Medtronic (Dublin, Ireland)
- Nuance Communications, Inc. (Burlington, U.S.)
- Eon (Denver, U.S.)
- PenRad Technologies, Inc. (Minnesota, U.S.)
- Volpara Solutions Limited. (Wellington, New Zealand)
- Other Prominent Players
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On the basis of cancer type, the market is divided into Non-Small Cell Lung Cancer (NSCLC) and small cell lung cancer. The NSCLC segment produced the maximum revenue across the globe, directed by the surging consciousness about lung cancer screening in established as well as emerging countries pooled with the rising cases of NSCLC across the world.
By application, the market is segregated into low-dose spiral CT scans and chest X-rays. On the basis of end-user, the market is further classified into hospitals and clinics and diagnostic centers. In terms of geography, the market is branched into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Increasing Prevalence of Lung Cancer to Aid Growth in North America
North America held the highest lung cancer screening market share in the global market and made a USD 1.38 billion worth of income contribution in 2020. The rising cases of lung cancer, robust application of cancer screening courses, and increasing implementation of technologically advanced solutions are a few of the aspects accountable for the domination of North America in 2020.
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Major Points from Table of Contents:
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Industry Developments - Merger, Acquisitions, and Partnerships
- Porter’s Five Forces Analysis
- SWOT Analysis
- Technological Developments
- Value Chain Analysis
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