Breast Cancer Diagnostics Market Growth Prospects, Competitive Analysis, Upcoming Trend and Forecast 2027

The global breast cancer diagnostics market is forecasted to reach USD 8,738.9 Million by 2027, according to a new report by Reports and Data. The breast cancer diagnostics market is observing high growth due to the rising occurrences of breast cancer across the globe. Breast cancer is the most common type of cancer occurring in women. There were more than 2 million new cases of breast cancer in 2018. Belgium, Luxembourg, and the Netherlands are the countries with the highest rates of occurrences of breast cancer in the year 2018 across the globe.

According to Global Health Estimates, WHO 2013, it is projected that more than 508,000 women deceased in 2011 owing to breast cancer. It has been found that around 50% of breast cancer cases and nearly 58% of deaths happen in less developed economies as compared to developed economies. The global survival rates from the disease vary greatly, ranging from around 80% in North America, Japan, and Sweden to nearby 60% in middle-income nations and lower than 40% in low-income nations. Hence, the implementation of breast diagnostics to screen and detect malignant cells in the human breast is driving the growth of the market.

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Further key findings from the report suggest

    • Mammography contributed to a significant market share in 2019. Mammography screening often enables the detection of cancers at an early stage of development, whereby treatment may be done without chemotherapy.
    • The market is dominated by the female population, with male patients contributing to less than 1.0% of the market share in 2019
    • Hospitals dominated the breast cancer diagnostics market in 2019. The factors including well-resourced operating & diagnostic rooms, higher purchasing power, the existence of highly skilled healthcare professionals, and improved health coverage for hospital-based healthcare services from several private and group insurance plans, among others, are responsible for the high market share of hospitals.
    • North America contributed to the largest breast cancer diagnostics market share in 2019. The market dominance is owing to the higher acceptance of advanced technologies, well-established healthcare diagnostic facilities, the surging incidence of the disease, and the enactment of numerous initiatives for raising awareness about the disease in the region.

The ongoing pandemic is significantly changing the dynamics of the pharma and healthcare sector. Various countries are facing challenges such as shortage of medicines, vaccines, healthcare devices in hospitals. This is expected to open lucrative growth opportunities for market players in the coming years.

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Competitive Landscape:

The global market comprises various market players operating at regional and global levels. These key players are adopting various strategies such as R&D investments, license agreements, partnerships, merger and acquisitions, collaborations, and joint ventures to gain robust footing in the market.

Top Companies Profiled in the Report:

Myriad Genetics Inc., Hologic Inc., Danaher Corporation, CR Bard Inc., Genomic Health, NanoString Technologies Inc., Becton, Dickinson, and Company, Koninklijke Philips NV, Devicor Medical Products Inc., and Abbott Laboratories, among others.

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Breast Cancer Diagnostics Market Segmentation:

Test Type Outlook (Revenue, USD Billion; 2017-2027)

  • Imaging
  • Biopsy
  • Genomic Test
  • Blood Test
  • Others

Breast Cancer Type Outlook (Revenue, USD Billion; 2017-2027)

  • Ductal Carcinoma In Situ
  • Invasive Ductal Carcinoma
  • Inflammatory Breast Cancer
  • Metastatic Breast Cancer

Regional Outlook:

  • North America (U.S., Canada, Mexico)
  • Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
  • Asia Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
  • Latin America (Brazil, Rest of LATAM)
  • Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

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This study aims to define market sizes and forecast the values for different segments and countries in the coming eight years. The study aims to include qualitative and quantitative perspectives about the industry within the regions and countries covered in the report. The report also outlines the significant factors, such as driving factors and challenges, that will determine the market’s future growth.

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