Lung Cancer Screening Market Expected to Reach $1,853.04 million by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Lung Cancer Screening Market," The lung cancer screening market size was valued at $879.59 million in 2021, and is estimated to reach $1,853.04 million by 2031, growing at a CAGR of 7.7% from 2022 to 2031.

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.

However, lack of awareness and limited access to screening methods in low cost countries hampers the growth of the lung cancer screening industry.

Depending on type, the lung cancer screening market analysis is bifurcated into low-dose computed tomography (LDCT) and X-ray. The low-dose computed tomography (LDCT) exhibited the highest growth in 2021, and is expected to register fastest growth during the forecast period owing to increase in awareness about screening methods in developed countries and growing adoption of low-dose computed tomography in the screening of lung cancer.

On the basis of age group, the market is segmented into 50 and older and below 50. The 50 and older segment exhibited the highest growth in 2021, and is expected to register a fastest CAGR during the forecast, owing to rise in prevalence of non-small cell lung cancer in patients aged over 50.

On the basis of end user, the lung cancer screening industry is classified into hospitals, diagnostic centers, and others. The diagnostic centers segment dominated the market in 2021 and is expected to remain dominant during the forecast period. The market growth of this segment driven by growing preference of patients towards diagnostic centers for cancer screening. However, others segment expected to exhibit fastest growth during the forecast period, owing to adoption of cancer diagnostic equipment in cancer research institutes.

Region-wise, North America had the highest lung cancer screening market share in 2021, and is expected to maintain its lead during the forecast period, owing to growing cases of lung cancer and increase in adoption of technologically advanced screening solutions. Moreover, North America advances due to well established healthcare infrastructure. However, Asia-Pacific is expected to register a highest CAGR during the lung cancer screening market forecast period, owing to increasing smoking population and accessibility to advanced screening solutions in the healthcare facility.

KEY FINDINGS OF THE STUDY

• By type, the low-dose computed tomography (LDCT) segment dominated the market in 2021.
• By age group, the 50 and older dominated the market in 2021, and is expected to continue this lung cancer screening market trends during the forecast period
• By end user, the diagnostic centers dominated the market in 2021
• Region-wise, North America generated the largest revenue share in 2021, however, Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.