Lung Cancer Genomic Testing Market by Technology, Sample Type, Panel Type, End User

List of Tables

The Lung Cancer Genomic Testing Market was valued at USD 1.01 billion in 2023, expected to reach USD 1.07 billion in 2024, and is projected to grow at a CAGR of 8.00%, to USD 1.73 billion by 2030.

Lung cancer genomic testing is a crucial segment within personalized medicine, aiding in the identification of genetic mutations associated with lung cancer. The need for genomic testing in lung cancer is driven by its ability to tailor treatments, predict disease progression, and enhance patient outcomes, serving oncologists, healthcare providers, and researchers. The application scope encompasses diagnostic labs, hospitals, and research institutes focusing on precision medicine. Key growth factors include the rising prevalence of lung cancer, advancements in sequencing technologies, and increasing awareness of personalized treatment options. Emerging opportunities are

KEY MARKET STATISTICS
Base Year [2023]	USD 1.01 billion
Estimated Year [2024]	USD 1.07 billion
Forecast Year [2030]	USD 1.73 billion
CAGR (%)	8.00%

Market Dynamics: Unveiling Key Market Insights in the Rapidly Evolving Lung Cancer Genomic Testing Market

The Lung Cancer Genomic Testing Market is undergoing transformative changes driven by a dynamic interplay of supply and demand factors. Understanding these evolving market dynamics prepares business organizations to make informed investment decisions, refine strategic decisions, and seize new opportunities. By gaining a comprehensive view of these trends, business organizations can mitigate various risks across political, geographic, technical, social, and economic domains while also gaining a clearer understanding of consumer behavior and its impact on manufacturing costs and purchasing trends.

Market Drivers
- Rising number of cancer incidences across the world
- Government initiatives to expand access to lung cancer treatment
- Growing number of research activities and collaborations to expand cancer care and prevention
Market Restraints
- High cost of genetic testing services and the lack of reimbursement
Market Opportunities
- Advancements in next-generation genome sequencing
- Inclination toward adoption of personalized medicine and biomarker testing
Market Challenges
- Stringent regulations concerning genetic and molecular testing

Porter's Five Forces: A Strategic Tool for Navigating the Lung Cancer Genomic Testing Market

Porter's five forces framework is a critical tool for understanding the competitive landscape of the Lung Cancer Genomic Testing Market. It offers business organizations with a clear methodology for evaluating their competitive positioning and exploring strategic opportunities. This framework helps businesses assess the power dynamics within the market and determine the profitability of new ventures. With these insights, business organizations can leverage their strengths, address weaknesses, and avoid potential challenges, ensuring a more resilient market positioning.

PESTLE Analysis: Navigating External Influences in the Lung Cancer Genomic Testing Market

External macro-environmental factors play a pivotal role in shaping the performance dynamics of the Lung Cancer Genomic Testing Market. Political, Economic, Social, Technological, Legal, and Environmental factors analysis provides the necessary information to navigate these influences. By examining PESTLE factors, businesses can better understand potential risks and opportunities. This analysis enables business organizations to anticipate changes in regulations, consumer preferences, and economic trends, ensuring they are prepared to make proactive, forward-thinking decisions.

Market Share Analysis: Understanding the Competitive Landscape in the Lung Cancer Genomic Testing Market

A detailed market share analysis in the Lung Cancer Genomic Testing Market provides a comprehensive assessment of vendors' performance. Companies can identify their competitive positioning by comparing key metrics, including revenue, customer base, and growth rates. This analysis highlights market concentration, fragmentation, and trends in consolidation, offering vendors the insights required to make strategic decisions that enhance their position in an increasingly competitive landscape.

FPNV Positioning Matrix: Evaluating Vendors' Performance in the Lung Cancer Genomic Testing Market

The Forefront, Pathfinder, Niche, Vital (FPNV) Positioning Matrix is a critical tool for evaluating vendors within the Lung Cancer Genomic Testing Market. This matrix enables business organizations to make well-informed decisions that align with their goals by assessing vendors based on their business strategy and product satisfaction. The four quadrants provide a clear and precise segmentation of vendors, helping users identify the right partners and solutions that best fit their strategic objectives.

Strategy Analysis & Recommendation: Charting a Path to Success in the Lung Cancer Genomic Testing Market

A strategic analysis of the Lung Cancer Genomic Testing Market is essential for businesses looking to strengthen their global market presence. By reviewing key resources, capabilities, and performance indicators, business organizations can identify growth opportunities and work toward improvement. This approach helps businesses navigate challenges in the competitive landscape and ensures they are well-positioned to capitalize on newer opportunities and drive long-term success.

Key Company Profiles

The report delves into recent significant developments in the Lung Cancer Genomic Testing Market, highlighting leading vendors and their innovative profiles. These include Abbott Laboratories, Admera Health, Agilent Technologies, Inc., BGI, CD Genomics, CeGaT GmbH, Centogene N.V., F. Hoffmann-La Roche AG, Illumina, Inc., Laboratory Corporation of America Holdings, NeoGenomics Laboratories, OncoDNA, OPKO Health, Inc., QIAGEN N.V., Quest Diagnostics Incorporated, Thermo Fisher Scientific, Inc., and Veracyte, Inc..

Market Segmentation & Coverage

This research report categorizes the Lung Cancer Genomic Testing Market to forecast the revenues and analyze trends in each of the following sub-markets:

Based on Technology, market is studied across Fluorescence In Situ Hybridization, Next-Generation Sequencing, and Polymerase Chain Reaction.
Based on Sample Type, market is studied across Liquid Biopsy and Tissue Biopsy.
Based on Panel Type, market is studied across Multi-Gene Panel and Single-Gene Panel.
Based on End User, market is studied across Diagnostic Laboratories, Hospitals/Clinics, and Research Organization.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom.

The report offers a comprehensive analysis of the market, covering key focus areas:

1. Market Penetration: A detailed review of the current market environment, including extensive data from top industry players, evaluating their market reach and overall influence.

2. Market Development: Identifies growth opportunities in emerging markets and assesses expansion potential in established sectors, providing a strategic roadmap for future growth.

3. Market Diversification: Analyzes recent product launches, untapped geographic regions, major industry advancements, and strategic investments reshaping the market.

4. Competitive Assessment & Intelligence: Provides a thorough analysis of the competitive landscape, examining market share, business strategies, product portfolios, certifications, regulatory approvals, patent trends, and technological advancements of key players.

5. Product Development & Innovation: Highlights cutting-edge technologies, R&D activities, and product innovations expected to drive future market growth.

The report also answers critical questions to aid stakeholders in making informed decisions:

1. What is the current market size, and what is the forecasted growth?

2. Which products, segments, and regions offer the best investment opportunities?

3. What are the key technology trends and regulatory influences shaping the market?

4. How do leading vendors rank in terms of market share and competitive positioning?

5. What revenue sources and strategic opportunities drive vendors' market entry or exit strategies?

Product Code: MRR-7C31448F0BA8

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Rising number of cancer incidences across the world
  - 5.1.1.2. Government initiatives to expand access to lung cancer treatment
  - 5.1.1.3. Growing number of research activities and collaborations to expand cancer care and prevention
- 5.1.2. Restraints
  - 5.1.2.1. High cost of genetic testing services and the lack of reimbursement
- 5.1.3. Opportunities
  - 5.1.3.1. Advancements in next-generation genome sequencing
  - 5.1.3.2. Inclination toward adoption of personalized medicine and biomarker testing
- 5.1.4. Challenges
  - 5.1.4.1. Stringent regulations concerning genetic and molecular testing
5.2. Market Segmentation Analysis
5.3. Porter's Five Forces Analysis
- 5.3.1. Threat of New Entrants
- 5.3.2. Threat of Substitutes
- 5.3.3. Bargaining Power of Customers
- 5.3.4. Bargaining Power of Suppliers
- 5.3.5. Industry Rivalry
5.4. PESTLE Analysis
- 5.4.1. Political
- 5.4.2. Economic
- 5.4.3. Social
- 5.4.4. Technological
- 5.4.5. Legal
- 5.4.6. Environmental

6. Lung Cancer Genomic Testing Market, by Technology

6.1. Introduction
6.2. Fluorescence In Situ Hybridization
6.3. Next-Generation Sequencing
6.4. Polymerase Chain Reaction

7. Lung Cancer Genomic Testing Market, by Sample Type

7.1. Introduction
7.2. Liquid Biopsy
7.3. Tissue Biopsy

8. Lung Cancer Genomic Testing Market, by Panel Type

8.1. Introduction
8.2. Multi-Gene Panel
8.3. Single-Gene Panel

9. Lung Cancer Genomic Testing Market, by End User

9.1. Introduction
9.2. Diagnostic Laboratories
9.3. Hospitals/Clinics
9.4. Research Organization

10. Americas Lung Cancer Genomic Testing Market

10.1. Introduction
10.2. Argentina
10.3. Brazil
10.4. Canada
10.5. Mexico
10.6. United States

11. Asia-Pacific Lung Cancer Genomic Testing Market

11.1. Introduction
11.2. Australia
11.3. China
11.4. India
11.5. Indonesia
11.6. Japan
11.7. Malaysia
11.8. Philippines
11.9. Singapore
11.10. South Korea
11.11. Taiwan
11.12. Thailand
11.13. Vietnam

12. Europe, Middle East & Africa Lung Cancer Genomic Testing Market

12.1. Introduction
12.2. Denmark
12.3. Egypt
12.4. Finland
12.5. France
12.6. Germany
12.7. Israel
12.8. Italy
12.9. Netherlands
12.10. Nigeria
12.11. Norway
12.12. Poland
12.13. Qatar
12.14. Russia
12.15. Saudi Arabia
12.16. South Africa
12.17. Spain
12.18. Sweden
12.19. Switzerland
12.20. Turkey
12.21. United Arab Emirates
12.22. United Kingdom

13. Competitive Landscape

13.1. Market Share Analysis, 2023
13.2. FPNV Positioning Matrix, 2023
13.3. Competitive Scenario Analysis
13.4. Strategy Analysis & Recommendation

Companies Mentioned

1. Abbott Laboratories
2. Admera Health
3. Agilent Technologies, Inc.
4. BGI
5. CD Genomics
6. CeGaT GmbH
7. Centogene N.V.
8. F. Hoffmann-La Roche AG
9. Illumina, Inc.
10. Laboratory Corporation of America Holdings
11. NeoGenomics Laboratories
12. OncoDNA
13. OPKO Health, Inc.
14. QIAGEN N.V.
15. Quest Diagnostics Incorporated
16. Thermo Fisher Scientific, Inc.
17. Veracyte, Inc.