According to Nova one advisor, the global Breast Cancer market was valued at USD 31.99 billion in 2022 and it is expected to hit around USD 70.61 billion by 2030 with a CAGR of 10.50% during the forecast period 2022 to 2030.
According to Nova one advisor, the global Breast Cancer market was valued at USD 31.99 billion in 2022 and it is expected to hit around USD 70.61 billion by 2030 with a CAGR of 10.50% during the forecast period 2022 to 2030.
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Key Takeaways:
- The imaging segment held the largest revenue share in 2022 and the blood tests segment is expected to grow at the fastest rate
- By product, the instrument-based products segment accounted for the largest revenue share in 2022 due to government initiatives such as mandatory screening in developed countries such as the U.S., Canada, and the U.K. for women above 45 years of age, increasing the overall testing and screening of breast cancer
- The platform-based products segment is expected to witness the fastest growth over the forecast period. These tests are mostly used for assessing the efficacy of chemotherapy and targeted therapy in women
- By application, the diagnostic and predictive segment dominated the market in 2022 and the prognostic segment is expected to witness the fastest CAGR over the forecast period due to increasing collaborations and efforts for advancements in diagnostics
- The hospitals and clinics segment dominated the market in 2022
- The medical labs and diagnostics centers segment is expected to witness the fastest CAGR over the forecast period due to an increase in platform-based testing such as NGS, and PCR
Report Scope of the Breast Cancer Market
| Report Coverage | Details |
| Market Size | USD 70.61 Billion by 2030 |
| Growth Rate | CAGR of 10.50% from 2022 to 2030 |
| Largest Market | Asia Pacific |
| Fastest Growing Market | North America |
| Base Year | 2021 |
| Forecast Period | 2022 to 2030 |
| Segments Covered | Type, product, application, end-use and Region |
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The growth is largely attributable to the increasing geriatric population exposed to the risk of breast cancer and early detection coupled with increasing awareness about breast cancer.
The introduction of 3D mammography or digital breast tomosynthesis, which is more accurate than 2D mammography, supports market growth. This advanced technology can detect 40.0% more cancers than 2D mammograms and reduce patient recalls. Rapid technological advancements are a major factor expected to drive the market over the coming years.
Companies are adopting strategies that allow them to use their resources to aid in the development of new products, as well as enhance their supply chain. In November 2019, Exact Sciences Corporation announced the acquisition of Genomic Health, which was expected to help enhance the company’s market position and offerings by acquiring its product portfolio. In January 2021, Hologic Inc. announced that it has agreed to acquire Biotheranostics for approximately US$ 230 million. Biotheranostics is a commercial-stage molecular diagnostics provider for breast and metastatic cancers.
The increasing launch of predictive and companion diagnostic tests for breast cancer is expected to boost the market growth. Recent launches in the segment include BRACAnalysis CDx by Myriad Genetics, which received FDA approval in 2018 as breast cancer companion diagnostics. In May 2019, QIAGEN introduced therascreen PIK3CA RGQ PCR Kit as a companion diagnostic for Novartis proprietary PIQRAY in guiding treatment decisions from tissue and liquid biopsy.
In January 2019, the Fujifilm Holdings Corporation introduced its Tomosynthesis Biopsy option for ASPIRE Cristalle mammography system. This technique was expected to enable physicians to detect breast cancers more efficiently compared to others by providing an enhanced 3D image and a digital mammogram.
However, there are specific risk factors associated with these imaging procedures. They involve administering high doses of fluorescent and barium contrast agents, as well as radiation exposure in the case of imaging and endoscopic procedures, which can cause several adverse effects such as nausea or diarrhea. The risks of ionizing radiation exposure associated with the use of CT, MRI, and X-rays, as well as the use of radioactive tracer injections in PET can limit the adoption of such screening procedures. Therefore, factors such as adverse effects of imaging act as a challenge for the companies in this market.
Regional Insights
North America dominated the breast cancer diagnostics market and accounted for the largest revenue share of 46.9%, in 2022. The major factors contributing to the dominance of this region are the presence of major players, well-established diagnostic and screening infrastructure, technological advancements, high patient awareness, and favorable reimbursement policies.
In Asia Pacific, the market for breast cancer diagnostics is expected to witness the highest CAGR during the forecast period owing to the increasing incidence of breast cancer and the adoption of advanced diagnostic techniques. Additionally, the improving reimbursement guidelines and rising healthcare infrastructure are also expected to support market growth.
Some of the prominent players in the Breast Cancer Market include:
- Hologic Inc.
- Genomic Health (Exact Sciences Corporation)
- BD
- Danaher
- Koninklijke Philips N.V.
- QIAGEN
- Thermo Fisher Scientific Inc.
- Myriad Genetics
- Argon Medical Devices, Inc.
- F. Hoffmann-La Roche Ltd.
Segments Covered in the Report
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Nova one advisor, Inc. has segmented the global Breast Cancer market
- Type
- Imaging
- Biopsy
- Genomic Tests
- Blood Tests
- Others
- Product
- Platform-based Products
- Next-generation Sequencing
- Microarrays
- PCR
- Others
- Instrument-based Products
- Imaging
- Biopsy
- Platform-based Products
- Application
- Screening
- Diagnostic and Predictive
- Prognostic
- Research
- End-use
- Hospitals & Clinics
- Diagnostic Centers and Medical Laboratories
- Others
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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