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Increasing incidence of lung cancer, in turn, rising demand for early diagnosis is a key factor driving lung cancer screening market revenue growth

VANCOUVER, BC, CANADA, February 15, 2023 /EINPresswire.com/ -- The Global Lung Cancer Screening Market size was USD 2.80 Billion in 2021 and is expected to register a revenue CAGR of 8.1% during the forecast period, according to latest analysis by Emergen Research. High cigarette consumption increasing incidence of lung cancer is a major factor driving market revenue growth.

Lung cancer is one of the main causes of cancer death, accounting for around 25% of all cancer fatalities. Cigarette smoking has been identified as a significant risk factor for developing Non-Small Cell Lung Cancer (NSCLC), along with other environmental and genetic risk factors. Approximately 80% of lung cancer fatalities are caused by smoking, with remaining being caused by secondhand smoke exposure. According to World Health Organization, rise in worldwide tobacco consumption, particularly in Asia, is responsible for a continued rise in lung cancer mortality. In addition, lung cancer cases has been increased due to factors such as water pollution, age, radiation exposure, air pollution (polycyclic aromatic hydrocarbons), and prolonged exposure to certain chemicals, gases, or pollutants including asbestos, beryllium, arsenic, nickel, and chromium. With the advent of genetic and biomarker testing, which has several potential prospects in the market, certain mutations have been found for better-personalized target treatment for patients, thus, there is a rise in demand for lung cancer screening for early diagnosis, which is driving revenue growth of the market.

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However, rising incidence of false diagnosis is expected to restrain market growth. According to research, screening by Chest X-rays has a false-positive incidence of between 5% and 10%. False-positive tests might lead to unnecessary and intrusive diagnostic procedures, hence screening process will probably lead to doctors treating patients who don’t require treatment, resulting in some patients receiving unnecessary chemotherapy, radiation, and surgery. Along with this diagnosis and therapy, they will also experience negative physical and psychological impacts. Moreover, detection of anything during screening that turns out not to be cancer (false positives) might lead to more scans, possibly invasive biopsies, surgery, and unneeded suffering and radiation exposure. Furthermore, even though contemporary CT scanners emit less radiation, they nevertheless raise chance of acquiring cancer in the future.

Key Players Included in this report are:
Koninklijke Philips N.V., Siemens Healthcare GmbH, Canon Medical Systems Corporation, General Electric Company, FUJIFILM Holdings Corporation, Medtronic, Nuance Communications, Inc., Eon, PenRad Technologies Inc., and Volpara Health Limited., Others

Some Key Highlights From the Report
The Non-Small Cell Lung Cancer (NSCLC) segment accounted for largest revenue share in 2021. In Asian countries, rapid industrial expansion and suburbanization are factors contributing to rising frequency of NSCLC and increasing need for therapy. Early-stage diagnosis can increase 5-year survival to 80%, which is expected to have significant benefits for outlook of NSCLC, as a result, there is an increasing demand for lung screening technology for early diagnosis, which is driving revenue growth of this segment.

The diagnostic centers segment accounted for a moderate revenue share in 2021. For elderly people, diagnostic centers are an ideal alternative since they offer individualized treatment and reduce need for repeated hospital visits. In addition to having more control over scheduling of procedures, outpatient surgery facilities can be 45%–60% less expensive than hospitals, which benefits patients, insurance, and taxpayers equally. As a consequence, compared to unexpected hospital events, very few surgeries may need to be postponed or rescheduled.

The Low Dose spiral CT (LDCT) scan segment accounted for largest revenue share in 2021. Since the development of LDCT scan, 80%–90% of instances of early-stage, invasive stage I lung cancer can be identified reducing mortality from lung cancer. According to Radiological Society of North America (RSNA) and American College of Radiology (ACR), an LDCT scan uses 90% less ionizing radiation than a conventional chest CT scan to provide high-quality pictures that aid in detection of minor abnormalities. In addition, this kind of scan is painless, noninvasive, and leaves no residual ionizing radiation in the body. A contrast agent is not necessary for LDCT lung cancer screening, which is driving revenue growth of this segment.

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What can be explored with the Lung Cancer Screening Market Study?
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Lung Cancer Screening Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Lung Cancer Screening Market
Understand the Competitive Scenarios
Track Right Markets
Identify the Right Verticals

Market Segmentation Analysis
Players can concentrate on high-growth regions and, if necessary, modify their business plan according to the research report. The Lung Cancer Screening Market is divided into a variety of categories, uses, and geographical areas. Players gain from the report's regional segmentation research since it offers pertinent data and insights into important geographic marketplaces.

For the purpose of this report, Emergen Research has segmented the global lung cancer screening market based on cancer type, diagnosis type, end-use, and region:

Cancer Type Outlook (Revenue, USD Billion; 2019-2030)
Non-small Cell Lung Cancer (NSCLC)
Small Cell Lung Cancer

Diagnosis Type Outlook (Revenue, USD Billion; 2019-2030)
Low Dose Spiral CT Scan
Chest X-Ray

End-use Outlook (Revenue, USD Billion; 2019-2030)
Hospitals & Clinics
Diagnostic Centers

Regional Outlook (Revenue, USD Billion; 2019–2030)
North America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Benelux
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Rest of APAC
Latin America
Brazil
Rest of LATAM
Middle East & Africa
Saudi Arabia
UAE
South Africa
Turkey
Rest of Middle East & Africa

COVID-19 Impact Analysis
The post-COVID-19 phase has undergone substantial change, and Lung Cancer Screening Market research highlights the opportunities and difficulties that still exist. This study report thoroughly examines the effects of the COVID-19 pandemic on the global economy and post-pandemic market behaviour.

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Regional Outlook
We carefully examined each division, regional classification, national study, and subject-specific data set during the market research. This Lung Cancer Screening Market research report's goal is to look at growth patterns, promising futures, important obstacles, and expected results. Information on significant market participants, strategic alliances, plans, new product launches, and joint ventures are all included in the research.

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