The Best Approach to Lung Cancer Screening Market for Every Personality Type | Updated Case Study

The U.S. Preventive Services (USPSTF) recommends annual screening for lung cancer by using low-dose computed tomography (LDCT), in adults aged between 50-80 years who have a smoking history or currently smoke. Lung cancer occurs in people who consume tobacco, are exposed to asbestos, and due to family history of lung cancer. Lung cancer typically starts in the parts of lung, such as alveoli or bronchioles. Small cell lung cancer and non-small cell lung cancer are the two main types of lung cancer. In small cell lung cancer, malignant cells are small and round when observed under microscope. However, in non-small cell lung cancer, malignant cells are larger under a microscope. Thus, early stage screening for lung cancer may reduce the risks associated with the caner spread.

Factors that drive the growth of global lung cancer screening market include, increase in prevalence of non-small cell lung cancer, rise in obesity, lifestyle changes, and rise in smoking population that are more prone to develop lung cancer. For instance, according to the American Society of Clinical Oncology (ASCO), about 235,000 adults in U.S. were affected by lung cancer in 2020.

In addition, technological innovations in screening methods and rise in R&D activities by market key players for developing advanced products contribute towards the growth of the lung cancer screening market share. Furthermore, increase in awareness regarding early stage screening and its benefits is the key factor expected to create lucrative growth opportunities for lung cancer screening market size during the forecast period.

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The global lung cancer screening market garnered $879.6 million in 2021, and is estimated to generate $1.8 billion by 2031, manifesting a CAGR of 7.7% from 2022 to 2031. The report provides an extensive analysis of changing market dynamics, major segments, value chain, competitive scenario, and regional landscape. This research offers a valuable guidance to leading players, investors, shareholders, and startups in devising strategies for the sustainable growth and gaining competitive edge in the market.

Covid-19 Scenario:
• The outbreak of the COVID-19 pandemic had a negative impact on the growth of the global lung cancer screening market, as the pandemic led to implementation of the global lockdown and strict following of the social distancing rules, thereby resulting in a significant decrease in demand for the lung cancer screening devices.
• The main cause of the interruption experienced by patients getting screening tests done from the hospitals.
• In addition, significant disruption in lung cancer screening led to decrease in new patients screened, thus reducing the demand for lung cancer screening solution and devices in 2020.
• However, the market is likely to recover soon in the post-pandemic.

The research provides detailed segmentation of the global lung cancer screening market based on type, age group, end user, and region. The report discusses segments and their sub-segments in detail with the help of tables and figures. Market players and investors can strategize according to the highest revenue-generating and fastest-growing segments mentioned in the report.

Based on type, the low-dose computed tomography (LDCT) segment held the highest share in 2021, accounting for nearly three-fourths of the global lung cancer screening market, and is expected to continue its leadership status during the forecast period. Moreover, the same segment is expected to register the highest CAGR of 8.0% from 2022 to 2031. The report also discusses X-ray segment.

Based on age group, the 50 and older segment accounted for the highest share in 2021, contributing to nearly three-fourths of the global lung cancer screening market, and is expected to maintain its lead in terms of revenue during the forecast period. Moreover, the same segment is expected to manifest the highest CAGR of 7.9% from 2022 to 2031. The report also discusses below 50 segment.

Based on end user, the diagnostic centers segment accounted for the highest share in 2021, holding more than half of the global lung cancer screening market, and is expected to continue its leadership status during the forecast period. The report also discusses segments including hospitals and others.

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Based on region, North America held the largest share in 2021, contributing to nearly half of the global lung cancer screening market share, and is projected to maintain its dominant share in terms of revenue in 2031. In addition, the Asia-Pacific region is expected to manifest the fastest CAGR of 9.4% during the forecast period. The research also analyzes regions including Europe and LAMEA.

Leading market players of the global lung cancer screening market analyzed in the research include
Canon Medical Systems Corporation,
Eon Health,
FUJIFILM Holdings Corporation,
General Electric incorporated (GE Healthcare),
Koninklijke Philips N.V.,
Medtronic plc,
Nuance Communications, Inc.,
Penrad Technologies Inc,
Siemens AG (Siemens Healthineers AG),
Volpara Solutions Limited

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