International Lung Most cancers Genomic Testing Market
Dublin, June 22, 2022 (GLOBE NEWSWIRE) — The “Lung Most cancers Genomic Testing Market – A International and Regional Evaluation – Deal with Product, Know-how, Panel Sort, Pattern Sort and Finish Person – Evaluation and Forecast, 2021-2031” Report has been added to ResearchAndMarkets.com providing.
The lung most cancers genomics testing drug market was valued at $1,262.0 million in 2020 and is predicted to succeed in $3,279.8 million by 2031, rising at a CAGR of 8.97% over the interval forecast 2021-2031.
Development within the international lung most cancers genomic testing market is predicted to be pushed by elevated consciousness and adoption of the lung most cancers genomic testing market, current launches of recent lung most cancers genomic testing, and increasing analysis within the subject of lung most cancers with emphasis on pharmacogenomics and growth of complementary diagnostics.
The worldwide lung most cancers genomic testing market is predicted to be dominated by North America, producing the best income of $713.5 million. That is as a result of presence of a lot of analysis organizations and product and repair firms within the US.
Market life cycle stage
The worldwide marketplace for genomic lung most cancers assessments remains to be in its infancy. A number of firms are rising investments in analysis and growth to facilitate the event of genomic lung most cancers assessments, which is predicted to additional improve the adoption of genomic lung most cancers assessments.
The shift of healthcare programs towards precision medication and diagnostics will drive the adoption of genomic testing for lung most cancers, facilitating knowledgeable remedy selections and bettering healthcare outcomes. The rising suggestions of the worldwide oncology societies for the usage of genomic assessments for the analysis of lung most cancers provide nice alternatives within the international marketplace for genomic lung most cancers assessments.
The presence of main lung most cancers genomic testing in vitro diagnostic (IVD) product suppliers in areas reminiscent of North America and Europe has a significant impression in the marketplace. For instance, Qiagen offers therascreen Strong Tumor Assays, a real-time polymerase chain response (PCR) take a look at for the detection of EGFR in sufferers with non-small cell lung most cancers (NSCLC). As well as, Roche offers Cobas EGFR Mutation Check, a PCR-based take a look at, and Basis Medication Inc.’s FoundationOne CDx, which is a next-generation sequencing (NGS)-based assay for NSCLC.
The presence of main Laboratory Developed Testing (LDT) service supplier firms providing lung most cancers genomic testing in areas like North America and Europe, having an excellent impression in the marketplace. LDTs are supplied by Quest Diagnostics and Laboratory Company of America (Labcorp), focusing on varied lung most cancers genes, eg, EGFR, MET, ALK, and ROS, primarily based on fluorescent in situ hybridization (FISH) and NGS. The presence of those firms has a constructive impression on the expansion of the market.
Affect of COVID-19
The worldwide lung most cancers genomic testing market is dominated by utility in diagnostic laboratories, hospitals, and clinics. Throughout the starting of the COVID-19 pandemic, a number of international locations witnessed a full or partial lockdown, with all elective surgical procedures and procedures halted in healthcare settings.
Since lung most cancers genomic testing is assessed within the elective process, the impression of the COVID-19 pandemic on lung most cancers genomic testing was unfavourable. Evaluation by BIS Analysis has concluded that the market witnessed a 3.24% drop within the annual development price of the worldwide lung most cancers genomic testing market.
Product kind (Merchandise, Companies)
The worldwide lung most cancers genomic testing market companies phase is predicted to be dominated. That is as a result of straightforward availability, accessibility and adaptation of LDTs, as a result of decrease price in comparison with the market of the product consisting of IVD.
Know-how (Polymerase Chain Response (PCR), Subsequent Technology Sequencing (NGS), Fluorescent In Situ Hybridization, Others)
It’s anticipated to dominate the worldwide marketplace for lung most cancers genomic testing utilizing polymerase chain response (PCR). That is as a result of general cost-effectiveness and excessive sensitivity of the PCR-based genomic take a look at for detection of disease-causing mutations in lung most cancers.
Pattern kind (tissue biopsy, liquid biopsy)
It’s anticipated to dominate the worldwide lung most cancers genomic testing market by tissue biopsy pattern kind. That is as a result of normal medical care observe of taking a biopsy of lung tissue for lung most cancers analysis, which can be used for lung most cancers genomic testing.
Panel kind (multi-gene panel, single-gene panel)
It’s anticipated to dominate the worldwide lung most cancers genomic testing market by multi-gene panel kind. That is as a result of normal observe of medical care and the familiarity of well being professionals with the extraction of biopsy of lung tissue for the analysis of lung most cancers, which can be used for genomic testing of lung most cancers.
Finish consumer (analysis group, hospitals/clinics, diagnostic laboratories, different finish customers)
The worldwide marketplace for lung most cancers genomic testing by analysis group end-user is predicted to be dominated. This is because of a lot of educational and medical analysis organizations the place lung most cancers genomic testing is used for drug growth, growth of companion diagnostics, and affected person enrollment in medical trials.
Latest Developments within the International Lung Most cancers Genomic Testing Market
In December 2021, the FDA authorised Thermo Fisher Scientific’s NGS-based companion diagnostic for the Oncomine Dx Goal take a look at for EGFR Exon20 insertion-mutant non-small cell lung most cancers tumor tissue, now authorised for 12 NSCLC-targeted therapies internationally.
In September 2021, the FDA authorised Thermo Fisher Scientific’s Tissue-Primarily based NGS Companion Diagnostic for Takeda’s Focused Remedy for NSCLC sufferers with EGFR Exon20 insertion mutations. The Oncomine Dx Goal Check is now CDx-approved for 5 focused therapies for NSCLC within the US.
In September 2020, Laboratory Company of America Holdings entered right into a industrial partnership with Decision Bioscience; The corporate launched the Decision ctDx liquid lung biopsy take a look at.
In Might 2021, Qiagen launched the primary FDA-approved companion tissue diagnostics to determine the KRAS G12C mutation in NSCLC tumors and expanded precision medication choices in lung most cancers.
In January 2020, Qiagen entered into a world collaboration with Amgen for the event of companion diagnostics in non-small cell lung most cancers.
Overview of key market gamers and competitors
Agilent Applied sciences, Inc.
ThermoFisher Scientific, Inc.
Quest built-in diagnostics
Laboratory Company of America Holdings
F. Hoffmann-La Roche Ltda.
Admera well being
OPKO Well being, Inc.
Key Matters Lined:
2 Market Overview
2.2 World prevalence of lung most cancers
2.3 Significance of genomic testing in lung most cancers
2.4 Affect of COVID-19 on the Lung Most cancers Genomic Testing Market
2.4.1 International Lung Most cancers Genomic Testing Market Disruption: Pre- and Publish-COVID-19 Market Evaluation
2.4.2 COVID-19 Affecting the Provide Chain of the International Lung Most cancers Genomic Testing Market
2.4.3 Interruption in Analysis and Scientific Improvement and Industrial Operation
2.4.4 Navigating disaster restoration and looking out forward
3 Business evaluation
3.1 International authorized necessities and laws
3.1.1 US authorized frameworks and necessities
18.104.22.168 Rules of the Facilities for Medicare and Medicaid Companies
3.1.2 Necessities and authorized frameworks in Europe
3.1.3 Authorized frameworks and necessities in Asia-Pacific
3.1.4 Latin America (Brazil and Mexico)
3.2 Patent Panorama
3.2.1 Patent Submitting Development
3.2.2 Evaluation of patents by nation
3.2.3 Evaluation of patents by expertise
4 Market Dynamics
4.2 Affect evaluation
4.3 Market Driving Elements
4.3.1 Excessive mortality price from lung most cancers
4.3.2 Advances in next-generation applied sciences for genomic testing
4.3.3 Growing variety of focused therapies
4.3.4 Lowering price of genetic testing globally
4.4 Market restraining components
4.4.1 Unsure regulatory state of affairs for genomic testing
4.4.2 Lack of viable tissue biopsy pattern
4.4.3 Unequal reimbursement state of affairs for genomic assessments
4.5 Market alternatives
4.5.1 Enhancing international suggestions for lung most cancers genomic testing
22.214.171.124 Suggestions of the American Society of Scientific Oncology (ASCO)
126.96.36.199 Suggestions of the European Society of Scientific Oncology (ESMO)
188.8.131.52 Pan-Asia Scientific Apply Tips
4.5.2 Growing funding in analysis and growth
4.5.3 Rising economies
5 Aggressive Panorama
5.1 Methods and key developments
5.1.1 Synergistic actions
5.1.2 Regulatory Approvals
5.1.3 Product releases and updates
5.1.4 Mergers and Acquisitions
5.1.5 Industrial Growth
5.1.6 Funding, Financing and Joint Enterprise
5.1.7 Evaluation of market share by firm
5.1.8 Evaluation of shared development by firm
6 International Lung Most cancers Genomic Testing Market, (By Product Sort), USD Million, 2020-2031
7 International Lung Most cancers Genomic Testing Market, (By Know-how), USD Million, 2020-2031
7.2 Subsequent technology sequencing
7.3 Polymerase Chain Response (PCR)
7.4 Fluorescent In Situ Hybridization (FISH)/In Situ Hybridization (ISH)
8 International Lung Most cancers Genomic Testing Market, (By Panel Sort), USD Million, 2020-2031
8.2 Single gene
8.3 Multi-gene panel
9 International Lung Most cancers Genomic Testing Market, (By Pattern Sort), USD Million, 2020-2031
9.2 Tissue biopsy
9.3 Liquid biopsy
10 International Lung Most cancers Genomic Testing Market, (by Finish Person), USD Million, 2020-2031
10.2 Group of the investigation
10.4 Diagnostic laboratories
10.5 Different Finish Customers
11 International Lung Most cancers Genomic Testing Market (By Area), USD Million, 2020-2031
12 firm profiles
12.1 Firm overview
12.2 Function in International Lung Most cancers Genomic Testing Market
12.3 Key opponents
12.4 Key prospects
12.6 Company methods
12.7 SWOT Evaluation
For extra info on this report, go to https://www.researchandmarkets.com/r/ngy4vz
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