Global Lung Cancer Diagnostic and Screening Test Market to Surpass US$ 3,515.9 Million by 2028, Says Coherent Market Insights (CMI)

According to Coherent Market Insights, the global lung cancer diagnostic and screening market is estimated to be valued at US$ 1,931.0 million in 2021 and is expected to exhibit a CAGR of 7.8% during the forecast period (2022-2028).

Key Trends and Analysis of the Global Lung Cancer Diagnostic and Screening Market:

The increasing number of screening test approvals from regulatory bodies is expected to drive growth of the lung cancer diagnostic and screening market during the forecast period. For instance, in February 2021, the U.S. Food and Drug Administration (FDA) announced approval for Amgen’s Sotorasib, for the treatment of patients with locally advanced or metastatic non-small cell lung cancer (NSCLC) with KRAS G12C mutation.

Similarly, in October 2020, F. Hoffmann-La Roche Ltd received approval from the U.S. FDA for the cobas EGFR Mutation test v2 as a companion diagnostic (CDx) for a broader group of therapies in the treatment of non-small cell lung cancer (NSCLC). This expansion allows the test to be used as a CDx for all five currently US FDA-approved epidermal growth factor receptor (EGFR) tyrosine kinase inhibitor (TKI) therapies targeting EGFR mutations L858R and Exon 19 Deletions in accordance with the approved therapeutic product labelling.

Request for Sample pages of this Report @ https://www.coherentmarketinsights.com/insight/request-sample/4434

Various companies are entering the market through inorganic growth strategies such as collaborations and partnerships. For instance, in June 2020, Thermo Fisher Scientific and Daiichi Sankyo have expanded their partnership by signing a new agreement to co-develop a companion diagnostic (CDx) that will utilize Thermo Fisher's next-generation sequencing (NGS)-based Oncomine Dx Target Test. The CDx will be designed to identify non-small cell lung cancer (NSCLC) patients with human epidermal growth factor receptor 2 (HER2) mutations, who may be eligible for Enhertu, a HER2 directed antibody drug conjugate (ADC), which is currently in global phase 2 development for HER2 mutated or HER2 overexpressing NSCLC.

The increasing number of companion diagnostic approvals from regulatory bodies is expected to drive growth of the global lung cancer diagnostic and screening test market. For instance, in November 2017, F. Hoffmann- La Roche Ltd., announced that it gained the U.S. Food and Drug Administration (FDA) approval for the VENTANA ALK (D5F3) CDx Assay as a companion diagnostic to identify ALK-positive non-small cell lung cancer (NSCLC) patient’s eligible for treatment with the Roche’s medicine ALECENSA.

Key Market Takeaways:

The North America lung cancer diagnostic and screening market is expected to hold dominant position during the forecast period (2022-2028), owing to the rising number of screening approvals are major factors that propel growth of the North America lung cancer diagnostic and screening test market. For instance, in August 2015 GE Healthcare announced to be the first company with a low dose computed tomography (CT) lung cancer screening option that is cleared by the U.S. FDA for lung cancer screening.

Buy-Now this Research Report @ https://www.coherentmarketinsights.com/insight/buy-now/4434

Competitive Landscape:

Key players operating in the global lung cancer diagnostic and screening market include Abbott, Illumina, Inc., Thermo Fischer Scientific, QIAGEN, Quest Diagnostics Incorporated, NeoGenomics, NanoString, Myriad Genetics Inc ., F. Hoffmann-La Roche Ltd, Danaher, Agilent Technologies, Inc., AstraZeneca, Sanofi, and Janssen Pharmaceuticals, Inc.

Market Segmentation:

• By Test Type:
  • Biomarkers Tests
    • EGFR Mutation Test
    • KRAS Mutation Test
    • ALK Test
    • HER2 Test
    • Others
  • Imaging Tests
    • Computed Tomography (CT) Scan
    • Positron Emission Tomography (PET) Scan
    • Chest X-RAY
    • Others
  • Biopsy
    • Needle Biopsy
    • Bronchoscopy Biopsy
    • Open Biopsy
    • Others

• By Cancer Type:
  • Non-small cell lung cancer
  • Small Cell Lung Cancer

• By End User:
  • Hospital Associated Labs
  • Independent Diagnostic Laboratories
  • Diagnostic Imaging Centers
  • Cancer Research Institutes

• By Region:
  • North America
    • U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • Italy
    • Spain
    • France
    • Russia
    • Rest of Europe
  • Asia Pacific
    • Australia
    • India
    • China
    • Japan
    • ASEAN
    • South Korea
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Argentina
    • Rest of Latin America
  • Middle East
    • GCC
    • Israel
    • Rest of Middle East
  • Africa
    • South Africa
    • Central Africa
    • North Africa

About Us:

Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. Our client base includes players from across various business verticals in over 57 countries worldwide.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210506005752/en/

Global lung cancer diagnostic and screening market is projected to grow at a CAGR of 7.8% during the forecast period 2022-2028, Says Coherent Market Insights