The study on the Global Lung Cancer Diagnostics Market Insights published by Fact.MR is a comprehensive analysis of the key factors that are likely to determine the growth of Lung Cancer Diagnostics Market Insights in the upcoming years. Further, the study dives deep to investigate the micro and macro-economic parameters that are expected to influence the global scenario of the Lung Cancer Diagnostics Market Insights during the forecast period (2021-2031).

The report examines the current trends, growth opportunities, restraints, and market drivers that are projected to influence the overall dynamics of the Lung Cancer Diagnostics Market Insights in the assessment period.

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Segmentation:

• By 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
• By End-User :
  • Lung Cancer Diagnostics  for Hospital Associated Labs
  • Lung Cancer Diagnostics for Independent Diagnostic Laboratories
  • Lung Cancer Diagnostics for Cancer Research Institutes
  • Others
• By Indication :
  • Non-Small-cell Lung Cancer Diagnostics
  • Small-cell Lung Cancer Diagnostics

Key Takeaways from Market Study

• By test type, CA lung cancer diagnostic tests to reign supreme, clocking US$ 1 Bn by 2031
• Hospital-associated labs set to reach around US$ 1.6 Bn until 2031
• Treatment for non-small cell lung cancer (NSCLC) to comprise over 50% of total demand
• Cancer research institutes to make significant use of lung cancer diagnostics, expanding at 6% CAGR
• Angiogenesis inhibitors is the fastest growing segment followed by HER2 tests
• U.S to acquire around 27% market share in the global lung cancer diagnostics industry
• China is expected to register a CAGR of around 8% until 2031, with NSCLC treatment gaining traction

“Rapid technological advancements with respect to human diagnostics is prompting lung cancer diagnostics service providers to leverage key advancements, including AI and automation, opening lucrative growth frontiers,” comments a Fact.MR analyst.

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.