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The global lung cancer screening market size was valued at USD 2.61 billion in 2020 and is projected to grow from USD 2.80 billion in 2021 to USD 4.85 billion in 2028, exhibiting a CAGR of 8.1% in the 2021-2028 period. 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 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. 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 is one of the major types of cancer. It is caused by the uncontrolled growth of cells in the lungs. The occurrence of this cancer is closely related to the consumption of tobacco. In the majority of the cases, tobacco consumption is the primary reason for growing incidence of this type of cancer among general population.
The market is thriving owing to the surge in the incidence of this type of cancer due to the increasing smoking population, technological advancements in screening, and increasing government support for the early detection of cases. Moreover, strategic collaborations and updated recommendations and guidelines on screening are also likely to boost the market growth in the near future.
The Outbreak of COVID-19 Hampered Growth Backed by Lockdowns and Travel Bans
The emergence of the pandemic initially impacted the screening programs globally, especially in the developed countries, owing to travel restrictions and lockdowns imposed by governments. This led to a decline in the number of people screened for this type of cancer. However, resumption of services during later stages of Q2 and in H2 2020 led to an increase in the number of patients screened. This increase compensated for the decline in patients during H1 2020.
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Technological Advancements in Screening Techniques is a Prominent Trend
Key players in the medical devices industry are engaged in the development of advanced products. The screening and diagnosis sector is going through significant technological advancements to cater to the unmet needs of customers. Major players operating in the market along with research-based start-ups are seeking funding for research and clinical testing of screenings solutions for lung cancer. The growing incidence and prevalence is responsible for influencing market players to develop efficient and cost-effective diagnostic and screening tools.
Additionally, the strong growth of the medical devices industry is pushing existing leading players and domestic companies to expand their product portfolio. This is creating huge competition between market players to gain a competitive advantage over other players by introducing innovative solutions for segments, including lung screening.
Rising Prevalence of Lung Cancer and Surging Use of Cigarettes to Fuel Market Growth
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.
High Cost of Tests to Restrict Market Growth
The cost of screening is higher, which makes it unaffordable for the general population, especially in the low-income category. Moreover, the lack of awareness regarding screening in developing economies is also likely to hamper market growth.
Moreover, the scarcity of radiologists, radiology technicians, laboratory practitioners in developing and underdeveloped countries is anticipated to hamper the number of screening tests in the forecast period.
Hence, all the above factors restrict the adoption of lung screening solutions and are expected to hamper further the growth of the market in the forecast period.
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Non-small Cell Lung Cancer (NSCLC) Segment to Hold Dominant Share Market
Based on cancer type, the global market is segmented into non-small cell lung cancer (NSCLC) and small cell lung cancer.
The non-small cell lung cancer (NSCLC) segment generated the highest revenue worldwide, driven by the increasing awareness about screening in developed and developing countries combined with the growing cases of NSCLC across the globe. As a result, the segment is expected to register an 8.2% CAGR during the forecast period.
On the other hand, the small cell lung cancer segment held a significant market share during the forecast period. The surge in the increasing prevalence combined with the rising initiatives by government and non-profit organizations towards early screening and diagnosis, are expected to support the market growth.
Rising Adoption of Low Dose Spiral CT Scan to Help This Segment Dominate
Based on diagnosis type, the global market is segmented into low-dose spiral CT scans and chest x-ray.
The low dose spiral CT scan segment dominated the global market in 2020. The segment's dominance is due to the favorable reimbursement policies about cancer screening and the growing adoption of low dose spiral CT scan in the screening of this type of cancer. Additionally, increasing awareness about mortality benefits associated with low dose spiral CT scan screening. It is anticipated to influence the market growth during the forecast period.
On the other hand, the chest x-ray segment is anticipated to register lower CAGR during the forecast period due to customers' growing preference towards low dose spiral CT scans.
Hospitals & Clinics Segment Held a Dominant Share in 2020
Based on end-user, the market is segmented into hospitals & clinics and diagnostic centers based on end-user. The hospitals & clinics held the largest market share during the forecast period due to the growing preference of patients towards hospitals for cancer screening, the rising number of hospitals in emerging countries, along the strong network of hospitals in the developed countries. Additionally, the growing awareness among general population, and the growing number of screening programs in healthcare facilities, are also likely to support the lung cancer screening market growth in the near future.
Moreover, the diagnostic centers segment is anticipated to register a comparatively higher CAGR attributed to the growing collaborations between healthcare providers & payers with diagnostic facilities to offer screening programs and the rising number of diagnostic centers in developed countries worldwide.
North America Lung Cancer Screening Market Size, 2020 (USD Billion)
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The North American region dominated the global market with USD 1.38 billion revenue contribution in 2020. The growing cases of lung cancer, strong implementation of screening programs, and rising adoption of technologically advanced solutions are some of the factors responsible for the dominance of North America in 2020.
Europe held the second-largest share in the global market. The presence of a well-established healthcare sector in European countries, the rising prevalence of this condition, with an increasing smoking population, and the accessibility to advanced screening devices in the healthcare facilities would aid growth.
On the other hand, Asia-pacific recorded a significant share in the market, and registered the highest CAGR during the forecast period. The high rate of smoking and tobacco consumption among the Asian population, increased initiatives by market players and government institutes to endorse the adoption of screening devices, and efforts of national government agencies to establish a strong framework for lung cancer screening are responsible for the market growth.
Latin America is projected to hold a comparatively lower share in the global market due to the lack of awareness and limited access to screening. The strong focus on hospital and healthcare infrastructure development in the gulf region, rising government investments for the development of healthcare facilities, and entry of private players in the healthcare sector in the Middle East and Africa are set to provide favorable conditions for the growth of the market during the forecast period.
Strong Distribution Network, Robust Portfolio, and New Product Launches to Help Key Players Lead
The global market is consolidated with key players, including General Electric Company, Koninklijke Philips N.V., Siemens Medical Solutions, and Canon Medical Systems Corporation. These players hold a significant share in the global lung cancer screening market. The dominance of these companies is attributed to the robust distribution network, strong product portfolio of screening devices, mergers and acquisitions, and introduction of new products in the market.
Moreover, other providers such as FUJIFILM Holdings Corporation, Volpara Solutions Limited, PenRad Technologies, Inc., Eon, Nuance Communications, Inc., are continuously engaged in strategic expansion initiatives to establish their footprints in emerging regions. A few players, such as Qiagen N.V., are also involved in developing companion diagnostic tests for lung cancer. These players are collaborating with leaders in the cancer diagnostics market to develop an efficient workflow from screening to diagnosis and personalized medicine for patients suffering from cancer.
An Infographic Representation of Lung Cancer Screening Market
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The global lung cancer screening market research report provides a detailed analysis of the market. It focuses on key aspects such as competitive landscape, cancer type, and diagnosis type. Besides this, it offers insights into the market trends and highlights key industry developments. In addition to the factors mentioned above, the report encompasses several factors that have contributed to the growth of the market over recent years.
Value (USD Billion)
By Cancer Type
By Diagnosis Type
Fortune Business Insights says that the global market stood at USD 2.61 billion in 2020 and is projected to reach USD 4.85 billion by 2028.
In 2020, the market size in North America was USD 1.38 billion.
The market will exhibit strong growth at a CAGR of 8.1% during the forecast period (2021-2028).
By cancer type, the non-small cell lung cancer (NSCLC) segment will lead the market.
The rising prevalence and advancements in screening tests and partnerships & strategic collaborations among industry players are set to fuel growth.
General Electric Company, Koninklijke Philips N.V., Siemens Medical Solutions, and Canon Medical Systems Corporation are the top players in the market.
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