CHICAGO, Aug. 30, 2022 (GLOBE NEWSWIRE) -- Data Bridge Market research has recently issued comprehensive industry research on “Global Lung Cancer Screening Software Market” which includes growth analysis, regional marketing, challenges, opportunities, and drivers analysed in the report. The premium Lung Cancer Screening Software Market report is bifurcated into several attributes which include manufacturers, region, type, application, market status, market share, opportunities, challenges, emerging trends, and distributors which are again detailed in the report as required to describe the topic and provide maximum information for better decision making. A market research analysis and estimations carried out in the persuasive Lung Cancer Screening Software Market report aids businesses in gaining knowledge about what is already there in the market, what market looks forward to, the competitive background and steps to be followed for outdoing the rivals. This market study has been analysed and takes into account the CAGR of the market, valuation, volume, revenue including historical and forecast, sales (current and future), and other significant factors related to the global market.
Data Bridge Market Research analyzes that the global lung cancer screening software market is expected to reach the value of USD 115,027.61 thousand by 2029, at a CAGR of 19.4% during the forecast period.
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REPORT METRIC
Forecast Period - 2022 to 2029
Base Year – 2021
Historic Years - 2020 (Customizable to 2014 - 2019)
Industry Overview:-
Control of lung cancer death rates is one of the major concerns for healthcare facilities. Public and private organizations are taking initiatives to launch screening programs to control the death rates. In addition, companies are launching advanced software to ease the management of patients’ data and provide better care with strict data privacy guidelines.
Increase in prevalence of lung cancer, rising awareness among people about lung cancer, increasing government initiatives and growing number of screening programs are some of the major factors driving the growth of the market. In addition, advancement in Artificial Intelligence (AI)-based solutions and strategic initiatives by key market players are creating opportunities in the field of lung cancer screening software.
Lung cancer screening is identifying stages of lung cancer using different technologies and software. Lung cancer screening using CT is the most recommended technique for screening lung cancer. The rising use of this technique is expected to accelerate the need for advanced software for lung cancer screening. This software helps to manage patients’ participation in lung screening programs and provides an efficient way for healthcare professionals to collect, curate and transfer data to clinicians and patients. In addition, this software enables in the identification of patients at risk and automates the flow of data with integrated electronic health records.
Top Companies Listed Here:
- PenRad Technologies Inc.,
- Koninklijke Philips N.V,
- Volpara Health Limited,
- Thynk Health,
- Nuance Communications, Inc.,
- Siemens Healthcare GmbH,
- MyCareWare, Inc.,
- MagView,
- MeVis Medical Solutions AG,
- Canon Medical Informatics, Inc.,
- General Electric Company,
- Epic Systems Corporation,
- Lungview,
- Eon,
- Medtronic,
- Coreline Soft Co., Ltd.,
- Optellum Ltd,
- HealthMyne,
- Oncocyte Corporation,
- Genesystem,
- REVEALDX,
- FUJIFILM Holdings Corporation,
- F. Hoffmann-La Roche Ltd,
- Median Technologies,
- AstraZeneca and
- Aidence.com
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Recent Developments
- In July 2022, GE Healthcare launched their latest product and most advanced ultrasound, the next-generation Voluson Expert 22. This latest addition to GE Healthcare’s award-winning Women’s Health portfolio utilizes graphic-based beam former technology, which produces higher quality images and offers greater flexibility in imaging functions. With this product, the company made its position much stronger in the area of products and service providers to healthcare institutions.
- In October 2021, Thynk Health announced a partnership with Infervision, to fight lung cancer with the world’s most advanced technologies. It offers an opportunity for lung cancer screening and pulmonary nodule management. With this partnership, the company increased its market presence.
Opportunity
- Rising collaborations, mergers & acquisitions among the market players
The companies operating in the market are adopting several strategies, including mergers and acquisitions, product launches, agreements, pipeline development, collaborations and market expansion among others, to boost their business in various dimensions. These strategic decisions by the companies are expected to offer significant opportunities for the market players operating in the market.
Market Segmentation Overview:
By Mode of Delivery (Cloud Based Solutions, On-Premise Solutions and Web Based Solutions)
By Product (Lung Cancer Screening Radiology Solution, Lung Cancer Screening Patient Management Software, Nodule Management Software, Data Collection and Reporting, Patient Coordination and Workflow, Lung Nodule Computer Aided Detection, Pathology and Cancer Staging, Statistical Audit Reporting, Screening PACs, Practice Management and Audit Log Tracking)
By Type (Computer-Assisted Screening and Traditional Screening), Application (Non-Small Cell Lung Cancer (NSCLC) and Small Cell Lung Cancer (SCLC)), Platform (Standalone and Integrated)
By Purchase Mode (Institutional and Individual)
By End User (Oncology Centers, Hospitals, Ambulatory Surgical Centers and Others)
By Distribution Channel (Direct Tender and Third Party Distributors)
The investment made in the study would provide you access to information such as:
- Regional level split [North America, Europe, Asia Pacific, South America, Middle East & Africa]
- Country wise Market Size Split [of important countries with major market share]
- Market Share and Revenue/Sales by leading players
- Market Trends – Emerging Technologies/products/start-ups, PESTEL Analysis, SWOT Analysis, Porter's Five Forces, etc.
- Market Size
- Market Size by application/industry verticals
- Market Projections/Forecast
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Geographical scope:
The countries covered in Lung Cancer Screening Software Market Report are U.S., Canada, Mexico, Germany, U.K., France, Italy, Spain, Netherlands, Russia, Switzerland, Turkey, Belgium, rest of Europe, China, South Korea, Japan, India, Australia, Singapore, Malaysia, Indonesia, Thailand, Philippines, rest of Asia-Pacific, Brazil, Argentina, rest of South America, U.A.E., Saudi Arabia, Israel, Egypt, South Africa, and rest of Middle East and Africa.
North America region is expected to dominate the market and is the fastest-growing region owing to the factors such as increasing number of screening programs, growing adoption of software solutions for patient management, rise in the demand for screening with chest radiography and the presence of large number of screening centers.
Lung Cancer Screening Software Market Dynamics
Drivers
- Increase in prevalence of lung cancer cases globally
Lung cancer is a leading cause of death in men and women. According to World Cancer Research Fund International, lung cancer is the second most common cancer worldwide. It is the most common cancer in men and second most common in women. There were more than 2.2 thousand new cases of lung cancer in 2020. Increasing prevalence of lung cancer cases creates need to adopt lung cancer screening software for early diagnosis and thus, acts as a driving factor for the market growth.
- Increase in awareness regarding the benefits of early diagnosis and frequent screening
The rising awareness programs of lung cancer by public, non-profit and private organizations are anticipated to boost the market growth. These initiatives aim to prevent diseases, reduce stigma and prejudice and promote research. The awareness among the population regarding lung cancer has increased. Because there are many awareness programs by different organizations, people know about lung cancer that can be cured if diagnosed early. Thus, raising awareness among populations is driving the market growth.
- Government initiatives were undertaken to implement screening programs for various diseases
The burden of cancer continues to increase globally and has great financial, emotional and physical stress on health systems, products, families and individuals. In countries with strong health systems, the survival rate of many types of cancer is improved due to survivorship, quality care, increased awareness and accessible early detection. Centers for Disease Control and Prevention, U.S., tribes and the U.S.-Pacific islands and territories through the National Comprehensive Cancer Control Program (NCCCP) are to form or support alliances to combat cancer in their communities. Due to these initiatives, more audiences are educated and more consciously dispersed, pushing the global audience to take further precautions and practice preventive examinations, promoting the market.
- Growing number of screening programs across the globe
Screening is an effective method of detecting early-stage cancer. There is an increasing trend in lung cancer incidences in developing countries. Although there are regular recommendations for screening for breast and cervical cancer, it is not the same in case of lung cancer. Most countries or institutions have initiated the feasibility and disease screening of Low-Dose Computed Tomography (LDCT) for lung cancer. The increasing number of lung cancer screening has created an opportunity for the market players. Hence, the increasing diagnostic rate acts as a driving factor for market growth.
Key market analysis features of Lung Cancer Screening Software market report:
- A proficient data and brilliant forecasting techniques used in this report are very accurate and correct.
- This market report is a perfect guide to achieve an information or key data about market, emerging trends, product usage, motivating factors for customers, competitor strategies, brand positioning, customer preferences, and customer behaviour.
- Lung Cancer Screening Software market research report endows with the numerous insights and business solutions that will assist to stay ahead of the competition.
- The most advanced tools and techniques are applied to generate Lung Cancer Screening Software market report which gives the best experience to the business or the user.
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