The lung cancer screening market size is projected to reach US$ 4,363.95 million by 2030 from US$ 2,326.5 million in 2022. It is expected to register a CAGR of 8.2% from 2022 to 2030.
Analyst Perspective:
The rising incidence of lung cancer and increasing government support drive the lung cancer screening market expansion. With the high pervasiveness of lung cancer, the awareness of the disease and the associated treatment are also rising. Additionally, government initiatives provide better and more affordable screening and favorable reimbursement policies, which are expected to boost the lung cancer screening market growth. The lung cancer screening market key players are focusing on strategic initiatives by collaborations to expand their geographic reach and enhance capacities to cater to a large customer base. For instance, in November 2021, GE Healthcare and Optellum collaborated to advance precision diagnosis and treatment of lung cancer. Together, the companies seek to address one of the largest challenges in diagnosing lung cancer, helping providers determine the malignancy of a lung nodule: a suspicious lesion that may be benign or cancerous.
Lung Cancer Screening Market - Market Overview:
Lung cancer screening is a process used to detect lung cancer in otherwise healthy people with a high risk of lung cancer. Lung cancer screening is recommended for older adults who are long time smokers and who do not have any signs or symptoms of lung cancer. Doctors use a LDCT scan of the lungs to look for lung cancer. If lung cancer is detected early, it is more likely to be cured with treatment. The lung cancer screening market is segmented into technology, cancer type, age group, and end user. The report offers insights and in-depth analysis of the global lung cancer screening emphasizing on parameters such as market trends, technological advancements, market dynamics, and competitive landscape analysis of leading market players.
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Lung Cancer Screening Market: Strategic Insights
Lung Cancer Screening Market
-
CAGR (2022 - 2030)
8.2%
-
Market Size 2022
US$ 2.33 Billion
-
Market Size 2030
US$ 4.36 Billion
Market Dynamics
GROWTH DRIVERS
- Rising Lung Cancer Incidence
- Increasing Government Support
FUTURE TRENDS
- Mobile Lung Cancer Screening Truck
OPPORTUNITIES
- Structured Lung Cancer Screening Program
Key Players
- Intelerad Medical Systems Incorporated
- Nuance Communications Inc
- GE HealthCare Technologies Inc
- Medtronic Plc
- Canon Medical Systems Corp
- Koninklijke Philips NV
- Siemens AG
- CVS Health
- bioAffinity Technologies, Inc.
Regional Overview
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Market Segmentation
Cancer Type
- Non-Small Cell Lung Cancer
Technology
- Low-Dose Computed Tomography
Age Group
- 50 & Older and Below 50
End User
- Hospitals
- Diagnostic Centers
- Others
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Lung Cancer Screening Market: Strategic Insights
-
CAGR (2022 - 2030)8.2% -
Market Size 2022
US$ 2.33 Billion -
Market Size 2030
US$ 4.36 Billion
Market Dynamics
- Rising Lung Cancer Incidence
- Increasing Government Support
- Mobile Lung Cancer Screening Truck
- Structured Lung Cancer Screening Program
Key Players
- Intelerad Medical Systems Incorporated
- Nuance Communications Inc
- GE HealthCare Technologies Inc
- Medtronic Plc
- Canon Medical Systems Corp
- Koninklijke Philips NV
- Siemens AG
- CVS Health
- bioAffinity Technologies, Inc.
Regional Overview
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Market Segmentation
Cancer Type - Non-Small Cell Lung Cancer
Technology - Low-Dose Computed Tomography
Age Group - 50 & Older and Below 50
End User - Hospitals
- Diagnostic Centers
- Others
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Market Driver:
Increasing Incidence of Lung Cancer Drives Lung Cancer Screening Market
Lung cancer is among the main causes of mortality across the world. Lung cancer screening is a critical component of cancer prevention approaches. The prognosis for lung cancer patients is better when the disease is diagnosed early, so people at high risk of lung cancer are encouraged to undergo routine testing to detect the formation of cancerous growth in their lungs. According to estimates by the American Cancer Society for lung cancer in the US for 2023, about 238,340 new lung cancer cases were registered; of these, 120,790 in women and 117,550 in men were reported. Also, according to the National Center for Biotechnology Information (NCBI), each year, ~41,000 new diagnoses of lung cancers and 34,000 deaths are recorded in Italy.
As per the Cancer Australia 2023 report, ~14,529 new lung cancer cases were diagnosed in 2022; among these, 7,707 were males and 6,822 were females. Nearly 9% of registered new cancer cases were diagnosed in 2022, with an estimated 8,664 total deaths due to lung cancer.
Thus, the rising incidence of lung cancer worldwide is contributing to the initiation of lung cancer screening programs, which is, in turn, driving the lung cancer screening market growth.
Lung Cancer Screening Market - Segmental Analysis:
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Based on cancer type, the lung cancer screening market is bifurcated into non-small cell lung cancer (NSCLC) and small cell lung cancer. The NSCLC segment accounted for a larger market share in 2022 and is expected to grow at a CAGR of 8.0% during the forecast period. The market position of this segment is due to the rising cases of NSCLC across the world. NSCLC develops more slowly than small cell lung cancer. It usually spreads to other parts of the patient's body by the time it is diagnosed. Therefore, early diagnosis and treatment are crucial. According to National Foundation for Cancer Research, NSCLC accounts for nearly 9 out of every 10 diagnoses. As per the same source, large-cell undifferentiated carcinoma lung cancer accounts for ~10–15% of all NSCLC diagnoses.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Lung Cancer Screening Market - Regional Analysis:
The increasing prevalence of lung cancer has made its screening extremely important for early detection. Lung cancer screening is suggested for older adults who are long-time smokers and do not have any symptoms related to lung cancer. Physicians use a low-dose computerized tomography (LDCT) scan or X-ray for screening.
According to an article titled “Lung Cancer in Germany,” published in the Journal of Thoracic Oncology, in June 2022, cancer is among the second most frequent cause of death in Germany, accounting for 25% of all deaths. In men, lung cancer ranks second after cardiovascular disease, accounting for 6.5% of all-cause mortality. With an age-standardized incidence rate of 52.1 and 32.7 and (per 100,000) in men and women, respectively, lung cancer ranks second in men and third in women (accounting for 13.3% and 9.4% of all newly diagnosed cancers, respectively). The average age of cancer diagnosis is 70 years (men) and 69 years (women); 52% of all patients present with stage IV. The incidence rates in women and men have converged since the 1990s because of long-term changes in smoking habits. Currently, every fourth man (27.0%) and every fifth woman (20.8%) in Germany smokes regularly.
The German National Cancer Plan designates organ cancer centers (lung cancer centers), oncology centers, and comprehensive cancer centers to offer general oncologic care in Germany. As of 2020, 64 lung cancer centers at 79 institutions were certified nationwide. Further, the implementation of lung cancer screening in the German healthcare system is expected in the upcoming years. For example, the HANSE, a lung check study, is primarily intended as a pilot program to provide evidence that a holistic and effective lung cancer screening program can be implemented and integrated into the current infrastructure of certified lung cancer centers in Germany. The HANSE investigates the feasibility of controlled lung cancer screening, screening for relevant cardiac and pulmonary comorbidities, and assessing potential predictive biomarkers in 5,000 high-risk candidates in the Northern German region. The screening is facilitated by a mobile CT truck rotating among three approved lung cancer centers. In addition, Germany is participating with two sites in the European “4 in the Lung Run–Study,” a prospective trial that is investigating several innovative modifications of screening, including personalized recruitment approaches, individualized screening intervals, improved radiological criteria, and others.
Thus, with rising lung cancer incidences in Germany and the implementation of lung cancer screening in the German healthcare system, the market for lung cancer screening is expected to grow.
Lung Cancer Screening Market - Key Player Analysis:
The lung cancer screening market analysis involved the study of players such as Intelerad Medical Systems Incorporated; Nuance Communications Inc; GE HealthCare Technologies Inc; Medtronic Plc; Canon Medical Systems Corp; Koninklijke Philips NV; Siemens AG; Aetna Inc; bioAffinity Technologies, Inc.; and LungLife AI, Inc. Among the players in the lung cancer screening market, Siemens AG and Medtronic Plc are the top two players owing to the diversified product portfolio offered.
Lung Cancer Screening Market - Recent Developments:
Inorganic and organic strategies such as mergers and acquisitions are highly adopted by companies in the lung cancer screening market. A few recent key market developments are listed below:
- In June 2022, Royal Philips teamed up with Biodesix, Inc. to incorporate the results of Biodesix’s Nodify Lung blood-based lung nodule risk assessment testing into Philips Lung Cancer Orchestrator lung cancer patient management system.
- In August 2022, Intelerad Medical Systems acquired PenRad Technologies, Inc., a software provider for enhancing breast imaging and lung screening productivity. The acquisition has expanded Intelerad’s product offerings for mammography and lung analytics, optimizing workflow for radiologists and boosting patient health outcomes.
- In May 2021, Genetron Holdings Limited partnered with Siemens Healthineers at the China Medical Equipment Fair. This partnership promoted the large-scale application of Genetron’s S5 platform and lung cancer 8-gene IVD assay in Chinese hospitals and provided NSCLC patients with efficient and accurate personalized diagnosis and treatment guidance.
Lung Cancer Screening Market Report Scope
| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ 2.33 Billion |
| Market Size by 2030 | US$ 4.36 Billion |
| Global CAGR (2022 - 2030) | 8.2% |
| Historical Data | 2020-2021 |
| Forecast period | 2023-2030 |
| Segments Covered |
By Cancer Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Cancer Type, Technology, Age Group, and End User
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
The lung cancer screening market majorly consists of the players such as Intelerad Medical Systems Incorporated, Nuance Communications Inc, GE HealthCare Technologies Inc, Medtronic Plc, Canon Medical Systems Corp, Koninklijke Philips NV, Siemens AG, Aetna Inc, bioAffinity Technologies, Inc., and LungLife AI, Inc., among others.
Mobile lung cancer screening truck in lung cancer screening market is likely to trend the market growth in the coming years.
Lung cancer screening is a process used to detect lung cancer in otherwise healthy people with a high risk of lung cancer. Lung cancer screening is recommended for older adults who are long time smokers and who don't have any signs or symptoms of lung cancer. Doctors use a low-dose computerized tomography (LDCT) scan of the lungs to look for lung cancer. If lung cancer is detected early, it's more likely to be cured with treatment.
Structured lung cancer screening program is likely to fuel the market growth in the coming years.
Small cell lung cancer segment is growing in the lung cancer screening market.
The factors such as rising lung cancer incidence and increasing government support drive the market growth. However, high cost of lung screening tests hinders the market growth.
The List of Companies - Lung Cancer Screening Market
- Intelerad Medical Systems Incorporated
- Nuance Communications Inc
- GE HealthCare Technologies Inc
- Medtronic Plc
- Canon Medical Systems Corp
- Koninklijke Philips NV
- Siemens AG
- CVS Health
- bioAffinity Technologies, Inc.
- LungLife AI, Inc.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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