According to a recent report by Fact.MR, the global lung cancer diagnostics market is anticipated to register 7.3% CAGR throughout the forecast period 2017 to 2022. Growth of the global lung cancer diagnostics market is mainly attributed to surging developments in the lung cancer-specific biomarkers. Diagnostic tools, such as these, will facilitate personalized treatment approach for lung malignancies. Numerous biomarkers are in the research pipeline. Epigenomics AG has launched a new test which is based on blood by utilizing DNA methylation biomarkers, and their developments are in process. Initial results of these tests have guaranteed early diagnosis of lung cancer. These incidences are most likely to increase demand for diagnosis of lung cancer across the globe.
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The growth of the global market for lung cancer diagnostics is primarily attributed to increasing developments in lung cancer-specific biomarkers. These diagnostic tools are expected to facilitate personalized treatment approach towards lung malignancies. A number of biomarkers exist in the research pipeline. In the recent past, Epigenomics AG launched a new test based on blood utilizing DNA methylation biomarkers, whose developments are in the process. The initial results obtained from these tests have promised early diagnosis of lung cancer. Such incidences are expected to increase demand for lung cancer diagnostics across the globe.
The report on the global market for lung cancer discusses such key factors that govern the economics of lung cancer diagnostics across the globe. Some of the key influences for the growth of global lung cancer diagnostics market include:
rising presence of carcinogenic elements in common consumables
surging exposure to toxic substances in factories & industrial settings
lack of awareness related to causes, symptoms, and preventive measures for lung cancer
high healthcare costs, deterring lung cancer patients from seeking optimum diagnosis
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With growing incidence of lung cancer, the future generations will witness a more accessible, affordable, and diagnosis-associated treatment for lung cancer. As lung cancer research organizations & societies struggle to develop effective medications in tight-budgeted capitals, governments are deploying initiatives that boost the awareness of lung cancer.
On the basis of indication, although non-small cell lung cancer is expected to remain sought-after in the market, small cell-lung cancer is expected to exhibit the fastest expansion through 2022. Revenue from non-small cell lung cancer is expected to remain largest during the forecast period. In contrast, revenue from small cell lung cancer will continue to be low in the global lung cancer diagnostics market.
Novel product launches for lung cancer diagnostics is a key strategy adopted by leading players in the global market, in order to increase their product portfolio. Fact.MR’s report profiles key market players, which include Illumina, Inc., Abbott Laboratories, Thermo Fischer Scientific, Inc., QIAGEN N.V., Quest Diagnostics Incorporated, NeoGenomics Laboratories, Inc., NanoString Technologies, Inc., Myriad Genetics, Inc., Roche Holding AG, and Danaher Corporation.
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