The global breast cancer diagnostics market was valued at US$ 4.8 Bn in 2018 and is projected to expand at a high CAGR from 2019 to 2027.
Wilmington, Delaware, United States, Transparency Market Research Inc. – The global breast cancer diagnostics market was valued at US$ 4.8 Bn in 2018 and is projected to expand at a high CAGR from 2019 to 2027. High prevalence and increase in incidence rate of breast cancer across the globe and technological advancements in diagnostic techniques are anticipated to fuel the growth of the global breast cancer diagnostics market.
Breast cancer is the most common form of cancer observed among women across the globe and accounts for around 12.3% of all the cancer cases reported. Breast cancer starts in breast tissues when the cells in the breast begin to grow out of control.
Breast cancer starts in the milk ducts that carry milk to the nipple. It could also start in the milk glands and other tissues of the breast. Symptoms of breast cancer are the formation of new lump or mass in the breast, swelling, pain, and nipple retraction. The two basic types of breast cancer are invasive breast cancer and non-invasive breast cancer. Around 80% of breast cancers are invasive.
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Breast cancer can be diagnosed using different techniques, from physical examination to CT/PET scan. Mammography systems are used as the first line of diagnosis of breast cancer. The other breast cancer diagnostic tools are breast ultrasound systems, breast magnetic resonance imaging, computed tomography (CT scan), positron emission tomography (PET scan), breast biopsy, and molecular testing.
The global breast cancer diagnostics market is expected to be driven by high prevalence and increase in incidence rate of breast cancer across the globe. According to the World Cancer Research Fund Organization, 2,088,849 cases of breast cancer were reported globally in 2018. The organization estimated that the number of breast cancer cases would reach to 5.5 million across the world by the end of 2030.
Presently, R&D on cancer diagnosis is primarily focused on liquid biopsy. Market players and research institutes are conducting extensive clinical trials to develop highly sensitive biopsy platform. In May 2018, Grail, a U.S.-based biotechnology company, raised US$ 1 Bn in VC funding and embarked on a 120,000-patient study for early breast cancer detection. Extensive research on biopsy aimed at promoting early diagnosis of cancer is likely to drive the global breast cancer diagnostics market during the forecast period.
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Breast Cancer Diagnostics Market: Segmentation
The global breast cancer diagnostics market has been segmented based on technique, cancer type, end user, and region
In terms of technique, the global breast cancer diagnostics market has been categorized into imaging, breast biopsy tests, and molecular testing. The imaging segment is projected to lead the global breast cancer diagnostics market during the forecast period. Imaging tests are most preferred for the initial diagnosis of breast cancer and are comparatively costlier than other tools. This can be attributed to the segment’s market dominance in 2018. The imaging segment has been classified into mammography systems, breast ultrasound systems, MRI scan, and PET/CT scan.
Based on cancer type, the global breast cancer diagnostics market has been bifurcated into ductal carcinoma in situ (DCIS) and invasive breast cancer. The invasive breast cancer segment accounted for the largest share of the global market in 2018 and the trend is anticipated to continue during the forecast period.
In terms of end user, the global breast cancer diagnostics market has been divided into hospitals & ambulatory surgery centers, diagnostic laboratories, and research & academic institutes. The hospitals & ambulatory surgery centers segment dominated the global breast cancer diagnostics market in 2018 and the trend is expected to continue from 2019 to 2027.
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Breast Cancer Diagnostics Market: Regional Segmentation
In terms of region, the global breast cancer diagnostics market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
North America dominated the global market in 2018 and is likely to gain market share by the end of 2027. The region’s dominance in terms of market share can be attributed to high prevalence and increase in incidence of breast cancer in the U.S. and Canada, and well-established healthcare facilities. High per capita healthcare expenditure, favorable medical reimbursement policies, and early adoption of technologically advanced products are attributed to the region’s large share of the global breast cancer diagnostics market in 2018.
Asia Pacific is projected to be the fastest growing market for breast cancer diagnostics during the forecast period. Japan dominated the market in the region in 2018. The market in India is anticipated to expand at a high CAGR during the forecast period.
The breast cancer diagnostics market in Latin America and Middle East & Africa is expected to expand at a high CAGR, owing to increase in demand for early diagnosis of breast cancer and focus of manufacturers on addressing unmet medical needs.
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Breast Cancer Diagnostics Market: Major Players
Companies such as Siemens Healthineers, GE Healthcare, and Hologic, Inc. accounted for major share of the global breast cancer diagnostics market in 2018. Other global players in the market include
- Abbott Laboratories
- Koninklijke Philips N.V., C. R. Bard, Inc.
- F. Hoffmann-La Roche Ltd.
- Fujifilm Holding Corporation
- Leica Biosystems Nussloch GmbH
- bioTheranostics, Inc.
- Myriad Genetics, Inc.
These players focus on adopting organic and inorganic growth strategies to strengthen product portfolio. These companies have adopted strategies such as collaborations & acquisitions, expansion of geographic footprint, investment in research & development, and manufacture of novel breast cancer diagnostic tools in order to be competitive in the global breast cancer diagnostics market.
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