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DUBLIN--(BUSINESS WIRE)--Oct 31, 2022--
The "Global Lung Cancer Genomic Testing Market by Component, Technology, Panel Type, Sample Type, End-user, and Region: Competition Forecast and Opportunities to 2027" report has been added to ResearchAndMarkets.com's offering.
The global lung cancer genomic testing market is still at an early stage and is anticipated to witness a steady CAGR in the forecast period, 2023-2027. Factors such as growing awareness and adoption of lung cancer genomic testing and the high prevalence of lung cancer worldwide are the primary drivers for the global lung cancer genomic testing market.
The other factors include the high-end investments by the private and public players to facilitate research and development activities to cure lung cancer and the favorable government policies and campaigns to create awareness about different cancer types. Also, the rapid shift of the healthcare system towards precision medicine and diagnostics technology is expected to boost the adoption of lung cancer genomic testing by healthcare facilities to help them make informed decisions.
Increased Awareness about Lung Cancer Genomic Testing Drives the Market Growth
The growing popularity of personalized medicine in the healthcare industry is expected to transform the way diseases such as lung cancer are being treated in healthcare facilities. Personalized medicine involves the study of cells obtained from biopsy and observing if there are any genetic mutations that can be linked with the cancer suffering patient. As certain chemotherapy drugs are either more or less effective than the others with specific mutations, genomic testing or molecular analysis can be used to determine which therapies can benefit an individual suffering from cancer. Genetic information obtained through genomic testing is useful to predict the chances of cancer returning to the human body and make other important decisions about surgery or radiation therapy. Samples obtained from people with lung cancer are checked by studying the genetic mutations known to be vital in the development of the disease. Treatment can be personalized, which can prove to be useful for patients and increase the effectiveness of treatment. Therefore, increased awareness about personalized medicine and the benefits obtained from genomic testing is expected to accelerate the global lung cancer genomic testing market growth over the forecast period.
High Prevalence of Lung Cancer Boosts the Market Growth
The rising prevalence of lung cancer, and the large number of patients undergoing screening and treatment are increasing the demand for lung cancer genomic testing services worldwide. Lung cancer, including both small cell and non-small cell, is one of the most common kinds of cancer. According to The American Cancer Society, the estimates for lung cancer in the United States in 2022 are about 236,740 new cases of lung cancer and about 130,180 deaths from lung cancer. It generally occur in the old age population and in the people who smoke on a daily basis. Also, according to World Health Organization, cancer is the leading cause of death and accounted for nearly 10 million deaths in 2020, with which lung cancer death cases were 1.80 million across the globe. Therefore, there is a massive demand for technologies that can lower cancer incidence and mortality rate, and the reliability and benefits of genomic testing are expected to propel global lung cancer genomic testing market growth over the next five years.
Report Scope
In this report, global lung cancer genomic testing market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Lung Cancer Genomic Testing Market, by Component:
Lung Cancer Genomic Testing Market, by Technology:
Lung Cancer Genomic Testing Market, by Panel Type:
Lung Cancer Genomic Testing Market, by Sample Type:
Lung Cancer Genomic Testing Market, by End-user:
Lung Cancer Genomic Testing Market, by Region:
Key Topics Covered:
1. Service Overview
2. Research Methodology
3. Executive Summary
4. Impact of COVID-19 on Global Lung Cancer Genomic Testing Market
5. Voice of Customer
6. Clinical Trial Analysis
7. Patent Analysis
8. Global Lung Cancer Genomic Testing Market Outlook
9. North America Lung Cancer Genomic Testing Market Outlook
10. Europe Lung Cancer Genomic Testing Market Outlook
11. Asia-Pacific Lung Cancer Genomic Testing Market Outlook
12. South America Lung Cancer Genomic Testing Market Outlook
13. Middle East and Africa Lung Cancer Genomic Testing Market Outlook
14. Market Dynamics
15. Market Trends & Developments
16. SWOT Analysis: Global Lung Cancer Genomic Testing Market
17. Competitive Landscape (Inclusive of SWOT Analysis of Players Profiled)
18. Strategic Recommendations
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/tjmqcp
View source version on businesswire.com:https://www.businesswire.com/news/home/20221031005382/en/
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KEYWORD:
INDUSTRY KEYWORD: BIOTECHNOLOGY HEALTH ONCOLOGY
SOURCE: Research and Markets
Copyright Business Wire 2022.
PUB: 10/31/2022 07:15 AM/DISC: 10/31/2022 07:16 AM
http://www.businesswire.com/news/home/20221031005382/en