The global lung cancer genomic testing market size was worth around USD 1.381 Billion in 2022 and is predicted to grow to around USD 3.015 billion by 2030 with a compound annual growth rate (CAGR) of roughly 9.1% between 2023 and 2030.
???? Click Here to access The Full market Report : https://www.zionmarketresearch.com/report/lung-cancer-genomic-testing-market
➤ The increasing prevalence of lung cancer serves as a significant growth catalyst.
The global lung cancer genomic testing market is expected to expand as a result of the rising number of lung cancer cases worldwide. Smoking is the primary cause of lung cancer, but other factors also contribute to the increasing number of patients. It can also be caused by exposure to harmful chemicals at home or work, as well as various varieties of tobacco, such as cigars and pipes. If there is a family history of lung cancer, the likelihood of being diagnosed with the disease is increased.
➤ High cost to limit market expansion
The high cost of genomic testing processes is expected to result in growth restrictions in the global lung cancer genomic testing market. In certain instances, NGS can be prohibitively expensive, while the cost of other testing methods remains perpetually high, rendering it unaffordable for a significant portion of the population. The high cost is a direct result of the highly advanced, specialized, and sophisticated apparatus that is necessary to conduct the test and analyze the results. A growth barrier is imposed by the restricted availability of genome testing.
➤ The expansion of targeted therapy options will present numerous opportunities.
The community is observing a consistent increase in the research, development, and adoption of targeted therapy, which can help address a broader range of mutations in the genes of lung cancer cells. This could contribute to the increase in demand for genome testing, as favorable results are the primary factors that drive the development of any treatment in the healthcare community. Furthermore, the investments that are being made to develop new methods that can deliver more precise and rapid results at a lower cost have the potential to expand the lung cancer genomic testing industry.
➤ Heterogeneous and intricate tumors to impede market expansion
The majority of lung cancer tumors are exceedingly intricate and exhibit a substantial degree of heterogeneity. This implies that they may possess multiple mutations, which can result in challenges in the planning of treatment and diagnosis. They also exhibit a poor response to targeted treatment or therapy due to their complexity. This aspect is anticipated to pose a significant challenge for the lung cancer genomic testing industry during its growth phase.
???? Get more info : https://www.zionmarketresearch.com/buynow/su/lung-cancer-genomic-testing-market
The Global Lung Cancer Genomic Testing Market is segmented based on product, application and region
Global Lung Cancer Genomic Testing Market: Product Segment Analysis
● Services
● Products
Global Lung Cancer Genomic Testing Market: Application Segment Analysis
● Hospitals/Clinics
● Research Organization
● Diagnostic Laboratories
Click on This Below Link to see Similar Reports :
https://www.linkedin.com/pulse/oil-condition-monitoring-market-size-industry-torif/
https://www.linkedin.com/pulse/global-steam-trap-monitor-market-industry-size-mdupf/
https://www.linkedin.com/pulse/veterinary-procedure-lights-market-share-size-uhajf/
https://www.linkedin.com/pulse/global-compressor-wheel-market-analysis-drivers-dcw1f/
https://www.linkedin.com/pulse/tensioning-systemsprestressed-concrete-market-pbvzf/
https://www.linkedin.com/pulse/mining-drilling-services-market-size-industry-hfetf
https://www.linkedin.com/pulse/tampon-market-size-industry-trends-historical-ronxf/
https://www.linkedin.com/pulse/global-paper-bags-packaging-market-analysis-qznuf/
https://www.linkedin.com/pulse/lung-cancer-genomic-testing-market-size-share-5qrbf/
https://www.linkedin.com/pulse/modular-kitchen-market-share-size-industry-nq8xf/
The global Lung Cancer Genomic Testing market profiles key players such as:
● CD Genomics
● Qiagen NV
● Laboratory Corporation of America Holdings
● NeoGenomics Laboratories
● Agilent Technologies Inc.
● Illumina Inc.
● Thermo Fischer Scientific Inc.
● Abbott Laboratories Inc.
● Quest Diagnostics Inc.
● OncoDNA
● Centogene N.V.
● Admera Health
???? Recent Developments:
• Labcorp, a global leader in the life sciences sector, announced the commencement of a new testing program that had already been funded in June 2022. This action will aid patients and their respective medical professionals in making informed treatment decisions for advanced forms of non-small cell lung cancer (NSCLC).
• Enhertu (trastuzumab deruxtecan) was approved by the US Food and Drug Administration (FDA) for the treatment of NSCLC in adults in September 2022. The cancer in patients must be unresectable and in the metastatic stage in order to receive this treatment.
➤ North America is expected to experience the most significant growth during the projection period.
North America is anticipated to experience the most significant growth in the global lung cancer genomic testing market, with the United States being the region leader in this regard. The high CAGR may be attributed to the growing adoption of existing methods, which is further fueled by the increasing funding for research and development of new techniques. The country’s healthcare and medical infrastructure is highly advanced, which serves as a supportive factor in the overall adoption rate of advanced technologies.
???? Get Customization Report : https://www.zionmarketresearch.com/custom/7133
About Us :
Zion Market Research is an obligated company. We create futuristic, cutting edge, informative reports ranging from industry reports, company reports to country reports. We provide our clients not only with market statistics unveiled by avowed private publishers and public organizations but also with vogue and newest industry reports along with pre-eminent and niche company profiles. Our database of market research reports comprises a wide variety of reports from cardinal industries. Our database is been updated constantly in order to fulfill our clients with prompt and direct online access to our database.
Contact Us:
Zion Market Research 244 Fifth Avenue, Suite N202 New York, 10001, United States
Tel: +49-322 210 92714 USA/Canada Toll-Free No.1-855-465-4651
Email: [email protected]
Website: https://www.zionmarketresearch.com
Be First to Comment