Lung Cancer PCR Panel Market Analysis – Trends & Forecast 2023-2033

Lung Cancer PCR Panel Market Outlook (2023 to 2033)

The lung cancer PCR panel market size is projected to be worth USD 513.9 million in 2023. The market is likely to surpass USD 1.1 billion by 2033 at a CAGR of 8.0% during the forecast period. Growing lung cancer incidences is aiding the market growth. Lung cancer targeted medicines and precision medicine are greatly aided by PCR panels.

These panels assist in identifying patients who may benefit from targeted medicines or immunotherapies by identifying particular genetic abnormalities, including as mutations in genes like EGFR, ALK, ROS1, and others. The need for molecular diagnostics like PCR panels has been fueled by the creation and accessibility of innovative targeted medicines.

Other Drivers Propelling the Demand for Lung Cancer PCR Panel Market include:

• Due to the rising incidence and prevalence of lung cancer worldwide, the market for lung cancer PCR panels is expanding. PCR panels provide a quick and reliable tool for identifying genetic mutations and variations linked with lung cancer, allowing for early detection and Personalised treatment options.
• In recent years, the area of molecular diagnostics, especially PCR technology, has seen considerable breakthroughs. These developments have resulted in the creation of extremely sensitive and specific PCR panels capable of detecting various genetic changes in lung cancer samples.
• Lung cancer identification is critical for improving patient outcomes. PCR panel’s aid in early detection by detecting particular mutations and changes linked to lung cancer. The emphasis on early detection and screening programs fuels the demand for PCR panels as an essential tool in lung cancer diagnosis.

Challenges for Companies /Manufacturers in the Lung Cancer PCR Panel Market:

• The cost of PCR panels can be rather costly, which makes widespread implementation difficult, particularly in resource-limited environments. Differences in healthcare systems and nations have varying reimbursement regulations and coverage for molecular diagnostic testing, including PCR panels. Obtaining favorable reimbursement and showing cost-effectiveness can be difficult tasks, limiting market penetration.
• In some circumstances, obtaining adequate lung cancer samples, such as tissue biopsies or liquid biopsies, might be difficult. The accuracy and reliability of PCR panel findings might be impacted by limited sample availability or poor sample quality.
• Compliance with regulatory standards, such as getting required permissions and certifications, may be time-consuming and expensive. It is critical to follow quality assurance and quality control procedures to ensure the reliability and repeatability of PCR panel findings.

Opportunities in the Lung Cancer PCR Panel Market Industry:

• In lung cancer diagnoses, liquid biopsy testing, which involves the measurement of circulating tumor DNA (ctDNA) or other biomarkers in the blood, is gaining traction. Because they may detect particular mutations and variations in ctDNA, PCR panels can be useful in liquid biopsy testing.
• As more targeted medicines gain regulatory approval, PCR panels may be used as companion diagnostics to guarantee optimal patient selection and medication optimization.
• The use of Next-generation sequencing (NGS) provides a chance to combine the benefits of PCR panels, such as high sensitivity and specificity, with the complete profiling capabilities of NGS, hence improving overall diagnostic capabilities in the Lung Cancer PCR Panel market.

Latest Trends in the Lung Cancer PCR Panel Market:

• In lung cancer diagnoses, there is an increasing tendency towards thorough genetic profiling. PCR panels that identify several mutations and changes in a single test are being developed, enabling for more complete genomic analysis of lung cancer samples.
• Biomarker testing, including the use of PCR panels, is becoming more common in lung cancer clinical trials. This pattern illustrates the increasing significance of biomarker-guided medicines and Personalised medicine techniques.
• The discovery of novel targetable mutations in lung cancer is a continuing trend. These new mutations are being included in PCR panels, which provides doctors with crucial information for therapeutic decision-making.

Attributes	Details
Lung Cancer PCR Panel Market Size (2023)	USD 513.9 million
Lung Cancer PCR Panel Market Projected Size (2033)	USD 1.1 billion
Value CAGR (2023 to 2033)	8.0%

2015 to 2022 Lung Cancer PCR Panel Market Demand Outlook Compared to 2023 to 2033 Forecast

From 2015 to 2022, the global lung cancer PCR panel market experienced a CAGR of 6.7%, reaching a market size of USD 513.9 million in 2023.

From 2015 to 2022, the global lung cancer PCR panel market industry witnessed steady growth due to the increased prevalence of lung cancer. Lung cancer is one of the top causes of cancer mortality globally. Because of the increased incidence and prevalence of lung cancer, there is a greater need for precise and fast diagnostic methods such as PCR panels.

The creation of PCR panels has been facilitated by advances in genomic research and understanding of the genetic underpinnings of lung cancer. These panels enable the detection of particular gene mutations or modifications linked to lung cancer, allowing for more tailored therapy regimens.

Future Forecast for Lung Cancer PCR Panel Market Industry:

Looking ahead, the global lung cancer PCR panel market industry is expected to rise at a CAGR of 6.7% from 2023 to 2033. During the forecast period, the market size is expected to reach USD 1.1 billion by 2033.

The lung cancer PCR panel market industry is expected to continue its growth trajectory from 2023 to 2033. Precision oncology seeks to give targeted medicines based on an individual's tumor's genetic composition. The need for PCR panels for precise molecular profiling and detection of targetable genetic abnormalities is projected to rise as precision oncology gains importance.

Early identification and diagnosis of lung cancer improves patient outcomes significantly. PCR panels offer the ability to detect genetic changes in early-stage lung cancer, allowing for earlier intervention and better survival rates. The emphasis on early diagnosis is anticipated to drive future demand for PCR panels.

Country-Wise Insights

Lung Cancer PCR Panel Market to Surge in the United States Due to Rising Prevalence of Lung Cancer.

Country	The United States
Market Size (USD Million) by End of Forecast Period (2033)	USD 223.2 million
CAGR % 2023 to End of Forecast (2033)	3.7%

The lung cancer PCR panel market industry in the United States is expected to reach a market size of USD 223.2 million by 2033, expanding at a CAGR of 3.7%. Due to the increasing incidence of lung cancer nationwide the market is on the rise.

Lung cancer affects a large number of people in the United States. Because of the high frequency of lung cancer, there is a significant market for PCR panels as a diagnostic tool to help in early identification, therapy selection, and disease monitoring. Furthermore, the availability of sophisticated molecular diagnostic technologies, such as PCR panels, boosts the growth of the country's lung cancer PCR panel market.

Rising Demand for Lung Cancer PCR Panel Market is Due to the Growing Increasing Awareness and Screening Programs.

Country	The United Kingdom
Market Size (USD Million) by End of Forecast Period (2033)	USD 29.2 million
CAGR % 2023 to End of Forecast (2033)	3.8%

The lung cancer PCR panel market industry in the United Kingdom is expected to reach a market share of USD 29.2 million, expanding at a CAGR of 3.8% during the forecast period. The public's knowledge of lung cancer and the need of early diagnosis has grown in the United Kingdom. Screening programs and early detection measures aid in the growth of the lung cancer PCR panel market in the United Kingdom.

The UK has a strong research infrastructure and collaborative efforts between academia, research institutions, and the industry. These collaborations foster the development of advanced diagnostic technologies, including PCR panels, for lung cancer, driving market growth.

Notable Growth Expected in China's Lung Cancer PCR Panel Market as Increasing Government Initiatives And Investments.

Country	China
Market Size (USD Million) by End of Forecast Period (2033)	USD 36.5 million
CAGR % 2023 to End of Forecast (2033)	6.4%

The lung cancer PCR panel market industry in China is anticipated to reach a market size of USD 36.5 million, moving at a CAGR of 6.4% during the forecast period. The lung cancer PCR panel market industry in China is expected to grow prominently due to the increasing government initiatives and investments. The Chinese government has prioritized healthcare development and has invested in innovative diagnostic technology. Policies that encourage research and cooperation between academia and business all contribute to the growth of the lung cancer PCR panel market in China. Furthermore, the rising prevalence of lung cancer is driving demand for PCR panels as a diagnostic tool in China.

Advanced Healthcare Infrastructure to Drive Market Growth in Japan

Country	Japan
Market Size (USD Million) by End of Forecast Period (2033)	USD 48.7 million
CAGR % 2023 to End of Forecast (2033)	6.2%

The lung cancer PCR panel market industry in Japan is estimated to reach a market size of USD 48.7 million by 2033, thriving at a CAGR of 6.2%. The market in Japan is predicted to grow because of its advanced healthcare infrastructure. Japan has a sophisticated medical technology and a well-developed healthcare system. The availability of improved diagnostic facilities, as well as a strong emphasis on early diagnosis and personalized medication, all contribute to the expansion of the lung cancer PCR panel market.

Demand for Lung Cancer PCR Panel Market is Rising Due to Increasing Technological Advancements.

Country	South Korea
Market Size (USD Million) by End of Forecast Period (2033)	USD 6.5 million
CAGR % 2023 to End of Forecast (2033)	6.0%

The lung cancer PCR panel market industry in South Korea is expected to reach a market size of USD 6.5 million, expanding at a CAGR of 6.0% during the forecast period. South Korea is well-known for its technology breakthroughs and healthcare innovation. The country's strong emphasis on research and development, along with a favorable regulatory framework, leads to the growth of the lung cancer PCR panel market by allowing the development and commercialization of improved diagnostic technologies.

Category-Wise Insights

Adenocarcinoma to Dominate Lung Cancer PCR Panel Market Industry with 55.0% Market Share in 2022

The Adenocarcinoma dominated the lung cancer PCR panel market industry with a market share of 55.0% in 2022. PCR panels play a significant role in the treatment of adenocarcinoma, which is the most common type of lung cancer. These panels help identify specific genetic mutations or alteration in tumor samples, allowing for personalized treatment strategies and improved patient outcomes. Moreover, the targeted therapies of the PCR panels have shown improved efficacy and better outcome compared to traditional chemotherapy in patients with the specific alterations. These therapies are gaining traction in lung cancer treatment as a result, the market is on the rise.

Which End User Is Widely Adopted In the Market?

The dermatology clinics is dominating the lung cancer PCR panel market with the market share of 42.0% in 2022. Patients commonly visit specialty hospitals for rapid and efficient care, as the need for specialist treatments grows, fueling the segment's growth. Furthermore, due to the global increase in squamous cell carcinoma (SCC) and large cell carcinoma the more people are seeking treatment and care at hospitals.

How Key Players Stay Competitive in the Lung Cancer PCR Panel Market Industry?

The lung cancer PCR panel sector is fiercely competitive, with many companies fighting for market dominance. To stay ahead of the competition in such a circumstance, essential players must employ smart techniques.

Key Strategies Used by the Participants

• Product Innovation

Key players focus on developing and introducing innovative products to address unmet needs in the market. They invest in research and development to improve existing formulations, delivery systems, and enhance the efficacy and safety of the products

• Strategic Partnerships and Collaborations

Key players often form strategic partnerships and collaborations with other companies, research institutes, or healthcare organizations, these partnerships allow for knowledge sharing, joint research and development efforts, and access to complementary technologies or expertise.

• Expansion into Emerging Markets

Key players strive to expand their presence in different geographic regions to tap into new markets and reach a wider customer base. They may establish subsidiaries, distribution networks. Or strategic alliances in various countries to strengthen their market position.

• Mergers and Acquisitions

Companies in the market may engage in mergers or acquisitions to consolidate their product portfolio, acquire new technologies, these strategic moves allow companies to enter new market segments, gain access to novel products or intellectual property, and achieve synergies in terms of research, manufacturing, or distributions.

Key Players in the Lung Cancer PCR Panel Market Industry

• Amoy Diagnostics Co., Ltd.
• ATRiDA B.V.
• Diagnóstica Longwood
• Paragon Genomics, Inc.
• EntroGen’s
• Jiangsu Mole Bioscience Co., Ltd.
• Lepu Medical Technology (Beijing) Co., Ltd.

Key Developments in the Lung Cancer PCR Panel Market:

• In August 18, 2021, The Amoy Diagnostics lung cancer diagnostic panel has been approved by the government's Ministry of Labour, Health, and Social Affairs (MHLW) of Japan as a companion diagnostic.
• On February 24, 2022, the manufacturing and marketing authorization for the AmoyDx Pan Lung Cancer PCR Panel was partially revised, by Amoy Diagnostics Co., Ltd.

Table of Content

• 1. Executive Summary
• 2. Market Overview
• 3. Key Market Trends
• 4. Value Added Insights
• 5. Market Background
• 6. Global Market Volume (in Units) Analysis 2015 to 2022 and Forecast, 2023 to 2033
• 7. Global Market - Pricing Analysis
• 8. Global Market Demand (in Value or Size in US$ Mn) Analysis 2015 to 2022 and Forecast, 2023 to 2033
• 9. Global Market Analysis 2015 to 2022 and Forecast 2023 to 2033, By Application
  • 9.1. Adenocarcinoma
  • 9.2. Squamous Cell Carcinoma (SCC)
  • 9.3. Large cell carcinoma
• 10. Global Market Analysis 2015 to 2022 and Forecast 2023 to 2033, By End User
  • 10.1. Hospitals
  • 10.2. Cancer Research Institutes
  • 10.3. Specialty Clinics
  • 10.4. Research & Educational Institutes
• 11. Global Market Analysis 2015 to 2022 and Forecast 2023 to 2033, by Region
  • 11.1. North America
  • 11.2. Latin America
  • 11.3. Europe
  • 11.4. South Asia
  • 11.5. East Asia
  • 11.6. Oceania
  • 11.7. Middle East and Africa (MEA)
• 12. North America Market Analysis 2015 to 2022 and Forecast 2023 to 2033
• 13. Latin America Market Analysis 2015 to 2022 and Forecast 2023 to 2033
• 14. Europe Market Analysis 2015 to 2022 and Forecast 2023 to 2033
• 15. South Asia Market Analysis 2015 to 2022 and Forecast 2023 to 2033
• 16. East Asia Market Analysis 2015 to 2022 and Forecast 2023 to 2033
• 17. Oceania Market Analysis 2015 to 2022 and Forecast 2023 to 2033
• 18. Middle East and Africa Market Analysis 2015 to 2022 and Forecast 2023 to 2033
• 19. Market Structure Analysis
• 20. Competition Analysis
  • 20.1. Amoy Diagnostics Co., Ltd.
  • 20.2. ATRiDA B.V.
  • 20.3. Diagnóstica Longwood
  • 20.4. Paragon Genomics, Inc.
  • 20.5. EntroGen’s
  • 20.6. Jiangsu Mole Bioscience Co., Ltd.
  • 20.7. Lepu Medical Technology (Beijing) Co.,Ltd.
• 21. Assumptions and Acronyms Used
• 22. Research Methodology