Lung Cancer Genomic Testing Market Size, Share, Trends, Growth 2030

Lung Cancer Genomic Testing Industry Prospective:

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.

The report analyzes the global lung cancer genomic testing market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the lung cancer genomic testing market.

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Lung Cancer Genomic Testing Market: Overview

Lung cancer is one of the most common forms of cancer across the world. It is, currently, the third most common type of cancer in the United States. The chances of a man getting diagnosed with lung cancer in a lifetime stand at 1:16 whereas the same ratio in women is 1:17. Lung cancer genomic testing refers to the process involving the tests of different types of genetic makeup that can cause tumors of lung cancer. The retrieved information is used to make treatment-related decisions. The global industry stands on the analysis of the cancer cell Deoxyribonucleic acid (DNA) that further helps to identify various associated mutations that cause cell growth. The data obtained have been used significantly to provide customized or tailor-made treatments depending on the genetic makeup of the tumor. This helps to improve the overall efficiency of the treatment and aids in the reduction of treatment-induced side effects.

Key Insights 

• As per the analysis shared by our research analyst, the global lung cancer genomic testing market is estimated to grow annually at a CAGR of around 9.1% over the forecast period (2023-2030)
• In terms of revenue, the global lung cancer genomic testing market size was valued at around USD 1.381 billion in 2022 and is projected to reach USD 3.015 billion, by 2030.
• The market is projected to grow at a significant rate due to growing cases of lung cancer
• Based on sample type segmentation, the liquid biopsy was predicted to show maximum market share in the year 2022
• Based on type segmentation, services were the leading type in 2022
• On the basis of region, North America was the leading revenue generator in 2022

Lung Cancer Genomic Testing Market: Growth Drivers

Growing cases of lung cancer to act as a major growth propeller

The global lung cancer genomic testing market is projected to grow owing to the increasing cases of lung cancer across the world. The number one cause of lung cancer is smoking while other factors also contribute to the rising number of patients. It can also be caused by various types of tobacco including cigars and pipes or being exposed to harmful chemicals at home or work. A person is more likely to be diagnosed with the disease in case there is a history of lung cancer in the family. As per the official information by the World Health Organization, more than 22.3% of the population worldwide used some form of tobacco in 2020 out of which 7.8% were women and 37.7% were men. Since the disease is a highly prevalent form of cancer, the importance of its detection and accurate treatment is on the rise.

Lung Cancer Genomic Testing Market: Restraints

High cost to restrict market expansion

The global lung cancer genomic testing market is projected to witness growth restrictions owing to the high cost of the genomic testing processes. NGS can be extremely expensive in certain cases while the cost for other testing methods remains perpetually high rendering it unaffordable by a large segment of the population. The high cost is driven by the extremely advanced, specialized, and sophisticated piece of equipment required to conduct the test and analyze the results. The availability of genome testing is limited which acts as a growth barrier.

Lung Cancer Genomic Testing Market: Opportunities

Growth in targeted therapy options to provide multiple expansion opportunities

The community is witnessing a steady rise in the research, development, and adoption of targeted therapy which can assist in dealing with a wider set of mutations in the lung cancer cell genes. This could aid the growth in the demand for genome testing as favorable results are the key driving factors for the growth of any treatment in the healthcare community. Additionally, the investments directed toward advancements of new methods that can provide more accurate and faster results at reduced cost could open new doors for growth in the lung cancer genomic testing industry.

Lung Cancer Genomic Testing Market: Challenges

Heterogeneous and complex tumors to challenge market growth

In most cases, tumors corresponding to lung cancer are extremely complex and show a high degree of heterogeneity. This means that they can have multiple mutations which translate to difficulty in diagnosis and treatment planning. The complexity also causes them to respond poorly to targeted treatment or therapy. This aspect is expected to act as a major challenge during the growth period for the lung cancer genomic testing industry.

Lung Cancer Genomic Testing Market: Segmentation

The global lung cancer genomic testing market is segmented based on sample type, technology, type, end-user, and region

Based on sample type, the global market is divided into liquid biopsy and tissue biopsy.

• In 2022, the global market registered the highest growth in the tissue biopsy segment which is anticipated to lead in the coming years as well
• The growth is driven by the standard procedure in which most of the testing centers rely on tissue biopsy for the diagnosis of lung cancer
• The average cost of a biopsy in the US costs between USD 1000 to USD 5000

Based on technology, the lung cancer genomic testing industry divisions are next-generation sequencing (NGS), polymerase chain reaction (PCR), and fluorescence in situ hybridization

Based on type, the global market is segmented into services and products.

• The global market registered the highest CAGR in the services segment in 2022 mainly due to the increased accessibility, and availability along with the adoption rate of laboratory-developed tests (LDTs) in comparison to in-vitro diagnostics (IVDs)
• The latter is most significantly used in the product segment
• As per official statistics, 1 in every 16 US citizens is expected to be diagnosed with lung cancer once in a lifetime

Based on end-user, the global market segments are hospitals/clinics, research organization, and diagnostic laboratories

Recent Developments:

• In June 2022, Labcorp, a world leader in life sciences, announced the launch of a new already-financed testing program. The move will assist in providing help to the patients suffering from advanced forms of non-small cell lung (NSCLC) cancer and their corresponding medical physicians in making informed decisions related to treatment
• In September 2022, the US Food and Drugs Administration (FDA) approved the use of Enhertu (trastuzumab deruxtecan) for treating NSCLC in adults. To receive this treatment, cancer in patients should be in the metastatic stage along with being unresectable
• In June 2021, FDA approved sotorasib, a new drug. It can be used to effectively treat genetic mutation-induced lung cancer. The drug has also shown results in reducing tumor size and is anticipated to increase survival rate in patients

Lung Cancer Genomic Testing Market: Report Scope:

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Lung Cancer Genomic Testing Market: Regional Analysis

North America to lead with the highest growth during the projection period

The global lung cancer genomic testing market is projected to witness the highest growth in North America with the US leading the regional growth. The high CAGR may be driven by the increasing funding in the research & development of new techniques further propelled by the growing adoption of the already existing methods. The healthcare and medical infrastructure of the country is highly advanced which acts as a supportive aspect of the overall adoption rate of advanced technologies. Furthermore, the excellent medical reimbursement policies, higher product and service awareness amongst the population, along with the presence of skilled medical professionals who have a strong hold over the practical application of the analysis could act as regional growth driving factors. The growing investments from the private and the government sector in the regional market are primary drivers of the expansion.

Lung Cancer Genomic Testing Market: Competitive Analysis

The global lung cancer genomic testing market is led by players like:

• 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
• CeGaT GmbH
• OPKO Health Inc.
• F. Hoffmann-La Roche AG.

The global lung cancer genomic testing market is segmented as follows:

By Sample Type

• Liquid Biopsy
• Tissue Biopsy

By Technology

• Next-Generation Sequencing (NGS)
• Polymerase Chain Reaction (PCR)
• Fluorescence in Situ Hybridization

By Type

• Services
• Products

By End-User

• Hospitals/Clinics
• Research Organization
• Diagnostic Laboratories

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa