Global Demand for Lung Cancer Diagnostics Will Cultivate at A CAGR of Around 7% by 2031

By 2031, the global market for lung cancer diagnostics is expected to generate US$ 4 billion, a 2x increase over 2020. Demand for lung cancer diagnostics is expected to increase due to the increased development of lung cancer-specific biomarkers. By the end of 2031, CA test revenue will total US$ 1 billion.The rising number of cancer cases, which is increasing at a rate of about 12% annually, is one of the many factors attributed to the rising demand for lung cancer diagnostics. A greater emphasis is being placed on early identification, diagnosis, and supportive treatment, which contrasts with the background of the emerging image of disease severity.

Additionally, accessibility of private and government funds for R&D to develop better tumour diagnostic tools, organizations such as NCI are supporting diagnostic developments to reduce the cost of screening open new doors for the manufacturers to expand the market size. However, for cancer relief CA tests will continue to be the most lucrative tests for lung cancer diagnostics in the market.

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Market Players: –

• lucia, inc.
• Abbot Laboratories
• Thermo Fischer Scientific, Inc.
• QIAGEN NV
• Built-in Quest Diagnostics
• NeoGenomics Laboratories, Inc.
• NanoString Technologies, Inc
• Myriad Genetics, Inc.
• Roche Holding AG
• Danher Corporation.

Segmentation:

What do you get in a Fact.MR study?

• Factors affecting the overall development of the global Lung Cancer Diagnostics market
• Factor that could restrain the growth of the global market in the coming years of the forecast period.
• What is the current competitive scenario of the global Lung Cancer Diagnostics market and its intricate details regarding the potential business prospects of the key market players
• Pricing strategies of different market players in the global Lung Cancer Diagnostics market

Regional analysis includes

• North America (USA, Canada)
• Latin America (Brazil, Mexico, Argentina, Chile, Peru, Rest of LATAM)
• EU – (Germany, France, Italy, Spain), UK, BENELUX (Belgium, Netherlands, Luxembourg), NORDIC (Norway, Denmark, Iceland, Sweden), Eastern Europe (Poland, Ukraine, Czech Rep. etc.), Rest of Europe
• CIS and Russia
• Japan
• Asia Pacific Ex-Japan (Greater China, India, South Korea, ASEAN Countries, Rest of EPAJ)

How does Fact.MR help you make strategic moves?

The data provided in the Lung Cancer Diagnostics Market report offers a comprehensive analysis of important trends in the industry. Business traders can use this data to plan their potential business moves and make substantial income in the upcoming period.

The report covers the analysis of the price trend and the analysis of the value chain along with the analysis of the diversified supply by the market players. The main reason for this report is to help companies make data-driven decisions and strategize their business moves.

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