At 7.3% CAGR, the South & Central America Lung Cancer Screening Market is projected to be worth US$ 68.95 million by 2030, says Business Market Insights

According to Business Market Insights research, the South & Central America lung cancer screening market was valued at US$ 39.16 million in 2022 and is expected to reach US$ 68.95 million by 2030, registering a CAGR of 7.3% from 2022 to 2030. Rising lung cancer incidences is the critical factor attributed to the South & Central America lung cancer screening market.

One of the dominant trends in the market for lung cancer diagnostics is the use of cutting-edge technologies. Liquid biopsies and genomic profiling will become increasingly popular, allowing for the more accurate and non-invasive detection of cancer-related mutations and biomarkers. By analyzing complicated medical data and images, AI and machine learning will improve diagnostic accuracy and help radiologists spot indications to lung cancer. Additionally, multi-modal approaches that combine different diagnostic modalities for comparative assessment will receive more attention. These developments will result in earlier and more precise diagnoses of lung cancer, enabling prompt interventions and better patient outcomes.

On the contrary, high cost of lung cancer screening hampers the South & Central America lung cancer screening market.  

Based on cancer type, the South & Central America lung cancer screening market is segmented into non–small cell lung cancer (NSCLC) and small cell lung cancer. The non–small cell lung cancer (NSCLC) segment held 82.6% share of South & Central America lung cancer screening market in 2022, amassing US$ 32.36 million. It is projected to garner US$ 56.14 million by 2030 to expand at 7.1% CAGR during 2022–2030.

Based on technology, the South & Central America lung cancer screening market is segmented into chest X-ray, low dose computed tomography (LDCT), liquid biopsy, and others. The chest X-ray segment held 42.8% share of South & Central America lung cancer screening market in 2022, amassing US$ 16.78 million. It is projected to garner US$ 29.25 million by 2030 to expand at 7.2% CAGR during 2022–2030.

Based on age group, the South & Central America lung cancer screening market is segmented into 50 and older and below 50. The 50 and older segment held 89.4% share of South & Central America lung cancer screening market in 2022, amassing US$ 35.00 million. It is projected to garner US$ 61.21 million by 2030 to expand at 7.2% CAGR during 2022–2030.

Based on end user, the South & Central America lung cancer screening market is segmented into hospitals, diagnostic centers, and others. The Hospitals segment held 49.9% share of South & Central America lung cancer screening market in 2022, amassing US$ 19.54 million. It is projected to garner US$ 33.32 million by 2030 to expand at 6.9% CAGR during 2022–2030.

Based on country, the South & Central America lung cancer screening market has been categorized into Brazil, Argentina, and the Rest of South & Central America. Our regional analysis states that Brazil captured 66.7% share of South & Central America lung cancer screening market in 2022. It was assessed at US$ 26.13 million in 2022 and is likely to hit US$ 46.88 million by 2030, exhibiting a CAGR of 7.6% during 2022–2030.

Key players operating in the South & Central America lung cancer screening market are GE HealthCare, Medtronic, Canon Inc, Koninklijke Philips NV, and Siemens AG, Inc among others. 

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