SAN FRANCISCO, June 13, 2016 /PRNewswire/ -- The global lung cancer diagnostics market is expected to reach USD 3,644.6 million by 2024, according to a new report by Grand View Research Inc. The development of lung cancer-specific biomarkers is one of the primary factors for the growth of the lung cancer diagnostics market over the forecast period. These diagnostic tools facilitate the personalized treatment approach of lung malignancies.
Various biomarkers are present in the research pipeline. For instance, in November 2015, Epigenomics AG announced the launch of a new blood-based test using DNA methylation biomarkers, the development of which is underway. The initial results of this test revealed a promising outcome in the early diagnosis of lung cancer.
Furthermore, various awareness programs focusing on lung cancer and its associated symptoms are initiated in an attempt to elevate the screening and diagnosis rates inindividuals at a high risk of developing lung malignancies. For instance, November is considered as a lung cancer awareness month across the UK, which is supported by the Roy Castle Lung Cancer Foundation.
Access full research report at: http://www.grandviewresearch.com/industry-analysis/lung-cancer-diagnostics-market
- The small cell lung cancer segment accounted for around 15% market share in 2015. This is an aggressive subtype of the lung malignancies, which has proven to be fatal within a short period of time if left undiagnosed.
- Non-small cell lung cancer was identified as the largest segment in 2015 with revenue of over USD 1,300.0 million. This is majorly due to the availability of novel lung cancer diagnostics that facilitate the detection of large tumor growths.
- The imaging tests segment was identified as the largest revenue generating segment in 2015 with a market share of around 50%. Major factors responsible for the large market share include the frequent use of various imaging techniques such as CT scan, X-ray, and MRI in the detection of lung malignancies coupled with the increased availability of the diagnostic tools.
- The introduction of novel molecular testing techniques coupled with the development of biomarker-based molecular testing in lung cancer detection is expected to foster market demand.
- Type Outlook (Revenue, USD Million, 2016 – 2024)
- Small Cell Lung Cancer
- Non-small Cell Lung Cancer
- Test Outlook (Revenue, USD Million, 2016 – 2024)
- Imaging Test
- Sputum Cytology
- Molecular Test
- Regional Outlook (Revenue, USD Million, 2016 – 2022)
- North America
- Asia Pacific
- Latin America
- South Africa
- North America
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services.
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SOURCE Grand View Research, Inc.