Company Logo

Global Lung Cancer Genomic Testing Market

Global Lung Cancer Genomic Testing Market

Dublin, June 22, 2022 (GLOBE NEWSWIRE) -- The "Lung Cancer Genomic Testing Market - A Global and Regional Analysis: Focus on Product, Technology, Panel Type, Sample Type, and End User - Analysis and Forecast, 2021-2031" report has been added to ResearchAndMarkets.com's offering.

The lung cancer genomic testing medicine market was valued at $1,262.0 million in 2020 and is expected to reach $3,279.8 million by 2031, growing at a CAGR of 8.97% during the forecast period 2021-2031.

The growth in the global lung cancer genomic testing market is expected to be driven by increasing awareness and adoption of the lung cancer genomic testing market, recent launches of novel lung cancer genomic testing, and the expanding research in the field of lung cancer with an emphasis on pharmacogenomics and development of companion diagnostics.

The global lung cancer genomic testing market is expected to be dominated by North America, generating the highest revenue of $713.5 million. This is owing to the presence of a large number of research organizations and products and services companies in the U.S.

Market Lifecycle Stage

The global lung cancer genomic testing market is still in the nascent phase. Various companies are increasing investments in research and development to facilitate the development of lung cancer genomic testing, which is expected to further increase the adoption of lung cancer genomic tests.

The shift of healthcare systems toward precision diagnostic and precision medicine will drive the adoption of lung cancer genomic testing facilitating informed treatment decision making and improving healthcare outcomes. Increasing recommendations by the international oncology societies for the use of genomic testing for lung cancer diagnosis provides major opportunities in the global lung cancer genomic testing market.

The presence of major in-vitro diagnostics (IVD) product providers of lung cancer genomic tests in regions such as North America and Europe has a major impact on the market. For instance, Qiagen provides therascreen Solid Tumor assays, a real-time polymerase chain reaction (PCR) test for EGFR detection in non-small cell lung cancer (NSCLC) patients. Additionally, Roche provides Cobas EGFR Mutation Test, a PCR-based test, and FoundationOne CDx by Foundation Medicine Inc., which is a next-generation sequencing (NGS) based assay for NSCLC.

Story continues

The presence of major laboratory developed tests (LDTs) service providers companies offer lung cancer genomic testing in regions such as North America and Europe, which has a major impact on the market. The LDTs are offered by Quest Diagnostics and Laboratory Corporation of America (Labcorp), targeting various lung cancer genes, for example, EGFR, MET, ALK, and ROS, based on Fluorescence in situ Hybridization (FISH) and NGS. The presence of these companies has a positive impact on market growth.

Impact of COVID-19

The global lung cancer genomic testing market is dominated by the utility in diagnostic laboratories, hospitals, and clinics. During the beginning of the COVID-19 pandemic, multiple countries witnessed a complete or a partial lockdown, and all elective surgeries and procedures were halted in the healthcare settings.

Since the lung cancer genomic testing is categorized under the elective procedure, the impact of the COVID-19 pandemic on the lung cancer genomic testing was negative. BIS Research analysis has concluded that the market witnessed a drop of 3.24% in the annual growth rate of global lung cancer genomic testing market.

Market Segmentation

Product Type (Products, Services)

The global lung cancer genomic testing market services segment is expected to be dominated. This is owing to the easy availability, accessibility, and adaptation of LDTs, due to lower cost when compared with the product's market consisting of IVD.

Technology (Polymerase Chain Reaction (PCR), Next-Generation Sequencing (NGS), Fluorescence In Situ Hybridization, Others)

The global lung cancer genomic testing market by polymerase chain reaction (PCR) is expected to be dominated. This is owing to the overall cost efficiency and high sensitivity of the PCR-based genomic test for the detection of disease-causing mutations in lung cancer.

Sample Type (Tissue Biopsy, Liquid Biopsy)

The global lung cancer genomic testing market by tissue biopsy sample type is expected to be dominated. This is owing to the standard healthcare practice of extracting a lung tissue biopsy for lung cancer diagnosis, which is further utilized for lung cancer genomic testing.

Panel Type (Multi-Gene Panel, Single-Gene Panel)

The global lung cancer genomic testing market by multi-gene panel type is expected to be dominated. This is owing to the standard healthcare practice and familiarity of healthcare professionals with the extraction of lung tissue biopsy for lung cancer diagnosis, which is further utilized for lung cancer genomic testing.

End User (Research Organization, Hospitals/Clinics, Diagnostic Laboratories, Other End Users)

The global lung cancer genomic testing market by research organization end user is expected to be dominated. This is owing to a large number of clinical research and academic organizations where lung cancer genomic testing is utilized for drug development, development of companion diagnostics, and enrolment of patients in clinical trials.

Recent Developments in Global Lung Cancer Genomic Testing Market

In December 2021, FDA approved Thermo Fisher Scientific's NGS-based companion diagnostic for EGFR Exon20 insertion mutant non-small cell lung cancer tumor tissue Oncomine Dx Target Test, now approved for 12 NSCLC targeted therapies globally.

In September 2021, FDA approved Thermo Fisher Scientific's tissue-based NGS companion diagnostic for Takeda's targeted therapy for NSCLC patients with EGFR Exon20 insertion mutations- Oncomine Dx Target Test now approved as CDx for five targeted NSCLC therapies in the U.S.

In September 2020, Laboratory Corporation of America Holdings entered into a commercial partnership with Resolution Bioscience; the company rolled out Resolution ctDx lung liquid biopsy test.

In May 2021, Qiagen launched the first FDA-approved tissue companion diagnostic to identify the KRAS G12C mutation in NSCLC tumors and expanded precision medicine options in lung cancer.

In January 2020, Qiagen built a global collaboration with Amgen for companion diagnostic development in non-small cell lung cancer.

Key Market Players and Competition Synopsis

QIAGEN N.V.

Agilent Technologies, Inc.

Thermo Fisher Scientific, Inc.

Quest Diagnostics Incorporated

Laboratory Corporation of America Holdings

CENTOGENE N.V.

BGI

CeGaT GmbH

Illumina, Inc.

F. Hoffmann-La Roche Ltd.

Abbott Laboratories

CD Genomics

NeoGenomics Laboratories

Admera Health

OncoDNA

OPKO Health, Inc.

Invitae Corporation

Veracyte, Inc.

Key Topics Covered:

1 Markets

2 Market Overview2.1 Introduction2.2 Global Prevalence of Lung Cancer2.3 Significance of Genomic Testing in Lung Cancer2.4 COVID-19 Impact on Lung Cancer Genomic Testing Market2.4.1 Disruption in Global Lung Cancer Genomic Testing Market: Pre- and Post-COVID-19 Market Analysis2.4.2 COVID-19 Affecting Supply Chain of Global Lung Cancer Genomic Testing Market2.4.3 Interruption in Research and Clinical Development and Commercial Operation2.4.4 Navigating Crisis Recovery and Looking to the Future

3 Industry Analysis3.1 Global Legal Requirements and Regulations3.1.1 Legal Requirements and Frameworks in the U.S.3.1.1.1 Centers for Medicare & Medicaid Services Regulation3.1.2 Legal Requirements and Frameworks in Europe3.1.3 Legal Requirements and Frameworks in Asia-Pacific3.1.4 Latin America (Brazil and Mexico)3.2 Patent Landscape3.2.1 Patent Filing Trend3.2.2 Patent Analysis by Country3.2.3 Patent Analysis by Technology

4 Market Dynamics4.1 Overview4.2 Impact Analysis4.3 Market Driving Factors4.3.1 High Lung Cancer Mortality Rate4.3.2 Advancements in the Next-Generation Technologies for Genomic Testing4.3.3 Increasing Number of Targeted Therapies4.3.4 Decreasing Cost of Genetic Testing Globally4.4 Market Restraining Factors4.4.1 Uncertain Regulatory Scenario for Genomic Testing4.4.2 Lack of Viable Tissue Biopsy Sample4.4.3 Uneven Reimbursement Scenario for Genomic Testing4.5 Market Opportunities4.5.1 Improving Global Recommendations for Lung Cancer Genomic Testing4.5.1.1 American Society of Clinical Oncology (ASCO) Recommendations4.5.1.2 European Society of Clinical Oncology (ESMO) Recommendations4.5.1.3 Pan-Asia Clinical Practical Guidelines4.5.2 Rising Investment in Research and Development4.5.3 Emerging Economies

5 Competitive Landscape5.1 Key Strategies and Developments5.1.1 Synergistic Activities5.1.2 Regulatory Approvals5.1.3 Product Launches and Upgradations5.1.4 Mergers and Acquisitions5.1.5 Business Expansion5.1.6 Investment, Funding, and Joint Venture5.1.7 Market Share Analysis by Company5.1.8 Growth-Share Analysis by Company

6 Global Lung Cancer Genomic Testing Market, (by Product Type), $Million, 2020-20316.1 Overview6.1.1 Products6.1.2 Services

7 Global Lung Cancer Genomic Testing Market, (by Technology), $Million, 2020-20317.1 Overview7.2 Next-Generation Sequencing7.3 Polymerase Chain Reaction (PCR)7.4 Fluorescence In Situ Hybridization (FISH)/In Situ Hybridization (ISH)7.5 Others

8 Global Lung Cancer Genomic Testing Market, (by Panel Type), $Million, 2020-20318.1 Overview8.2 Single-Gene8.3 Multi-Gene Panel

9 Global Lung Cancer Genomic Testing Market, (by Sample Type), $Million, 2020-20319.1 Overview9.2 Tissue Biopsy9.3 Liquid Biopsy9.3.1 cfDNA9.3.2 ctDNA

10 Global Lung Cancer Genomic Testing Market, (by End User), $Million, 2020-203110.1 Overview10.2 Research Organization10.3 Hospitals/Clinics10.4 Diagnostic Laboratories10.5 Other End Users

11 Global Lung Cancer Genomic Testing Market (by Region), $Million, 2020-203111.1 Overview

12 Company Profiles12.1 Company Overview12.2 Role in the Global Lung Cancer Genomic Testing Market12.3 Key Competitors12.4 Key Customers12.5 Financials12.6 Corporate Strategies12.7 SWOT Analysis

For more information about this report visit https://www.researchandmarkets.com/r/ngy4vz

Attachment

Originally posted here:
Global Lung Cancer Genomic Testing Markets, 2021-2022 & 2031: Increasing Number of Targeted Therapies & Decreasing Cost of Genetic Testing...

Comments are closed.