Lung Cancer Screening Market 2023 Size, Share, Revenue Trends and Growth Drivers
The Lung Cancer Screening Market 2023 Size Forecast to 2030 research provides accurate economic, global, and country-level predictions and analyses. It provides a comprehensive perspective of the competitive market as well as an in-depth supply chain analysis to assist businesses in identifying major changes in industry practices. The market report also examines the current state of the industry, as well as predicted future growth, technological advancements, investment prospects, market economics, and financial data.
The global lung cancer screening market size was USD 2.61 billion in 2020. The global impact of COVID-19 has been unprecedented and staggering, with lung cancer screening solutions witnessing a slight negative impact on demand across all regions amid the pandemic. Based on our analysis, the market exhibited a moderate growth of 7.0% in 2020 as compared to the average year-on-year growth during 2017-2019. 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. The rise in CAGR is attributable to this market’s demand and growth, returning to pre-pandemic levels once the pandemic is over. Lung Cancer Screening Market Size, Share & COVID-19 Impact Analysis, By Cancer Type (Non-small Cell Lung Cancer (NSCLC), and Small Cell Lung Cancer); By Diagnosis Type (Low Dose Spiral CT Scan, and Chest X-ray), By End-user (Hospitals & Clinics, and Diagnostic Centres), and Regional Forecast, 2021-2028
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Market Growth Drivers:
The rising prevalence of cancer across the globe, increasing healthcare expenditure, and growing diagnosis present a large patient pool undergoing screening procedures. These are the factors responsible for the growth of the market in the near future.
The burden of this diseases is rising globally, owing to various factors such as obesity, smoking, and lifestyle changes. Smoking and vaping are expected to increase the incidences of lung cancer among the general population. The surge in the incidence is anticipated to increase the demand for effective screening tests and solutions globally.
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Who are the Major Lung Cancer Screening Market Vendors?
- 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
Market Share Analysis:
The Market Share Analysis offers the analysis of vendors considering their contribution to the overall market. It provides the idea of its revenue generation into the overall market compared to other vendors in the space. It provides insights into how vendors are performing in terms of revenue generation and customer base compared to others. Knowing market share offers an idea of the size and competitiveness of the vendors for the base year. It reveals the market characteristics in terms of accumulation, fragmentation, dominance, and amalgamation traits.
Competitive Strategic Window:
The Competitive Strategic Window analyses the competitive landscape in terms of markets, applications, and geographies to help the vendor define an alignment or fit between their capabilities and opportunities for future growth prospects. It describes the optimal or favourable fit for the vendors to adopt successive merger and acquisition strategies, geography expansion, research & development, and new product introduction strategies to execute further business expansion and growth during a forecast period [2022 – 2029].
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