Pune, India, March 13, 2022 (GLOBE NEWSWIRE) -- The global lung cancer diagnostics market size is projected to experience dynamic expansion in the upcoming years owing to the increasing prevalence of smoking, finds Fortune Business Insights™ in its report, titled “Lung Cancer Diagnostics Market, 2021-2028”.
Industry Development:
June 2019: First in vitro diagnostic immunohistochemistry (IHC) assay was launched by Roche Diagnostics with an aim to offer improved detection of lung cancer.
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Market Growth Drivers:
In recent years, there has been an increasing awareness about lung cancer among the world population due to the emergence of advanced technologies in healthcare industry and the wide availability of internet and data across the world. Thus, this is a major factor driving the growth of this market.
- Introduction of Technologically Advanced Systems to Propel Lung Cancer Diagnostics Market Growth
- Extensive Distribution Network, Strong Portfolio, and Stout Brand Presence to Boost the Market
- Rapid Shift towards Latest Technology in Developed and Emerging Countries
- Launch of Innovative and Advanced Products is Propelling the Growth of the Market
- Clinical Efficiency of New Products to Boost its Adoption during 2021-2028
- Higher Demand in COVID-19 Pandemic to Propel Market Growth
- Product Innovations and Regional Expansions to Augment Market Growth
- Growing Research & Development Investments and Increasing New Product approvals to Drive Market Growth
- Robust Product Offerings by Key Players to Propel Industry Growth
- Strategic Partnerships Coupled with Strong Brand Presence to Foster Company Growth
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Market Segments:
- On the basis of cancer type, this market is categorized into Non-Small Cell Lung Cancer (NSCLC) and Small Cell Lung Cancer (SCLC).
- Based on test, the market is divided into imaging tests, sputum cytology, biopsy, molecular tests, and other tests.
- By end-user, the Lung Cancer Diagnostics Market is classified into hospitals, specialty clinics, and others.
- Based on geography, the market is clubbed into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Regional Analysis:
North America region is anticipated to witness substantial growth in the lung cancer diagnostics market share on account of the increasing technological advancements in lung cancer treatment and the increasing prevalence of smoking in this region.
Asia Pacific region is projected to grow at a decent pace in this market owing to the improvement in the research and development of diagnostic tools in this region.
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Competitive Landscape:
The prominent companies in the lung cancer diagnostics market are focusing on the introduction of advanced devices for lung cancer treatment and early diagnosis in order to reduce the adverse impact of lung cancer. This has resulted in the increasing competition among key companies which will enable them to widen their business horizons and strengthen their market position.
List of key players:
- F. Hoffmann-La Roche Ltd
- Thermo Fisher Scientific
- AstraZeneca plc
- Illumina Inc.
- Agilent Technologies, Inc.
- Qiagen
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