Analysis of Breast Cancer Diagnostics market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
The global breast cancer diagnostics market is likely to acquire a market value of US$ 4 Bn in 2022 and is expected to register a CAGR of 7% by accumulating a market value of US$ 7.9 Bn in the forecast period 2022-2032.
Market Size Value in 2022
US$ 4 Bn
Project Market Forecast Value in 2032
US$ 7.9 Bn
Global Growth Rate (2022-2032)
Market Share of North America
Key Companies Profiled
Increasing prevalence of breast cancer, reoccurrence of the same and availability of different test is positively influencing the demand for breast cancer diagnostics. Moreover, growing inclination towards early detection of breast cancer diagnosis is driving the demand for breast cancer diagnostics.
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As per Fact.MR’s report, from 2017 to 2021, the global breast cancer diagnostics domain experienced an uptick at around 6% CAGR. Rising prevalence of malignant genes amongst women across generations and fear of passing on the same gene across families led to an increase in the service.
In 2021, WHO stated that, globally, breast cancer is the most common type of cancer, with as much as more than 2.3 Mn new cases being recorded. This increasing instance of breast cancer is largely shaping demand for early breast cancer diagnosis. Rising awareness about breast cancer via various government initiatives and various cancer organizations is boosting market growth.
Screening procedures temporarily dwindled during the worst of the COVID-19 pandemic. As healthcare providers raced to accommodate the exponentially rising caseloads, other diagnostic procedures were put on hold. However, as the incidence receded, prospects rebounded. From 2022 to 2032, breast cancer diagnostics are expected to surpass US$ 7.9 Bn by registering a CAGR of 7% in the assessment period.
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The number of breast cancer cases across the globe is rising rapidly and has become the most common type of cancer in 2021. Early detection of breast cancer tumours is one of the major challenges in diagnosis and treatment, as in most cases, they are detected after they have grown to an advanced stage.
Demand for early detection of breast cancer is seeing a major rise as people are seeking more efficient diagnostic solutions to deal with the disease effectively. Apart from other tests to detect breast cancer, imaging and screening have also seen substantial rise in popularity. Screening for breast cancer is deemed effective, but some methods are still being debated whether they are safe and accurate for prolonged use.
Breast cancer diagnostic PCR tests, biopsy for breast cancer diagnostics, and application of microarray in breast cancer diagnostics are some of the trends that are expected to be witnessed over the decade.
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As research on the detection of breast cancer increases, new and innovative diagnostic methods are being adopted and applied. Most of these methods are not used extensively, but as research is backing their credibility, these methods are expected to become mainstream over the years.
Imaging is the most prominent and widely used among these. Demand for genomic tests in breast cancer diagnostics, demand for next-generation sequencing in breast cancer diagnostics, and demand for blood tests in breast cancer diagnostics are relatively low in comparison to imaging due to lack of research to back their credibility, accuracy, and in some cases, even affordability.
Breast biopsy for breast cancer diagnostics is anticipated to see a steady rise in popularity over the decade.
Demand for breast cancer diagnostics in the U.S. is anticipated to increase at a high CAGR owing to rising cases across the nation. Well-established diagnostic infrastructure, technological advancements, increasing healthcare expenditure, and rising awareness about breast cancer are some of the prime factors that are shaping market growth in the country.
Thus, North America is anticipated to account for more than 45% of global breast cancer diagnostics market share in the forecast period 2022-2032.
Demand in the APAC region is expected to be driven by nations such as China and India, where instances of breast cancer are increasing. Demand for breast cancer diagnostics at independent diagnostic laboratories in the APAC region is expected to see an increase as breast cancer diagnosis instruments become more affordable.
Moreover, the number of women diagnosed with breast cancer has been increasing in India, and this is common across rural as well as urban areas. Breast cancer accounts for nearly 14% of all cancers found in Indian women. In addition, rising instances of cancer is driving demand for early breast cancer diagnostics in the nation. Development of affordable and cost-effective diagnostic solutions is a major factor influencing demand in India. Thus, Asia Pacific is expected to account for more than 40% market share for breast cancer diagnostics market growth through 2032.
Rising hospitalization of patients, increasing instances of breast cancer, and rise in demand for biopsy procedure in breast cancer diagnostics are some of the prime factors driving the hospital-associated labs segment.
Thus, adoption of breast cancer diagnostics at hospital-associated labs is high and is expected to account for nearly 50% revenue share of the global market in 2032.
As research to find better diagnostic solutions increases, so will demand for breast cancer diagnostics at cancer research institutes. Innovative and early diagnostics solutions for breast cancer are constantly being researched on and the trend is expected to be prevalent through the decade.
Demand for CEA tests for breast cancer is anticipated to witness the highest CAGR. This is due to the test’s capacity to check the probability of reoccurrence of cancer cells. Thus, inclination towards CEA test has increased in recent years. Due to the reasons mentioned above, CEA test are expected to hold more than 45% market share for Breast Cancer Diagnostics.
Prime providers of breast cancer diagnostics are striving to come up with diagnostic solutions that offer early detection of breast cancer. Key market players are also investing in the research & development of diagnostic solutions that are fast, accurate, and cost-efficient.
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As of 2022, the market for breast cancer diagnostics will reach nearly US$ 4 Bn
The breast cancer diagnostics industry is expected to surpass a CAGR of 7% from 2022-2032.
The breast cancer diagnostics market is expected to reach nearly US$ 7.9 Bn by 2032
Availability of multiple tests along with accurate results and technological advancements are the key trends driving breast cancer diagnostics sales.
Bio-Rad Laboratories Inc, Illumina Inc, Biocept Inc, Epigenomics AG, AstraZeneca plc, Myriad Genetics Inc and Quest Diagnostics Incorporated are prominent breast cancer diagnostics market players.
CEA test are expected to hold more than 45% market share for Breast Cancer Diagnostics.
Hospital based labs are expected to hold more than 50% market share for breast cancer diagnostics market.
The breast cancer diagnostics industry is expected to possess nearly 45% market share throughout North America.
The breast cancer diagnostics industry is expected to possess nearly 40% market share throughout Asia Pacific.
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