Breast cancer is cancer that develops when cells and tissues in the breast begin to grow out of control. Usually forming into a tumor, breast cancer is visible as a lump surrounding the internal breast tissues. Breast cancer tumor is malignant, and occurs almost entirely in women, apart from exceptional occurrences in men.
Fact.MR, in its latest report, estimates the global breast cancer diagnostics market to register a moderate expansion at 4.7% CAGR during the forecast period 2017 to 2022.
Screening Practices of Breast Cancer Witnessed to Alter Early Detection Practices
Breast cancer has become the most common type of cancer for women across the globe. The number of women suffering from breast cancer is witnessing a surge. This has led to the necessity for efficient early detection of breast cancer.
Mammography screening, an established method adopted across several countries, has been recently been observed to offer inconclusive test results. Risk-adapted, personalized therapy and screening are predicted to resolve these difficulties. In addition, tomosynthesis, a new imaging technology, has been seen to overcome the drawbacks of mammography.
Screening options for breast cancer have been witnessing a rise, and have been altering practices of early detection across industrialized economies. Moreover, countries such as Brazil, India, and China are focusing on the development of cost-effective screening strategies capable of being adapted as per requirements.
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Introduction of Hybrid Imaging Instruments Offering Enhanced Accuracy to Drive Growth of the Market
The global breast cancer diagnostics market has been witnessing a robust transformation on the back of several technological advancements in the diagnostic platforms.
The market has witnessed the introduction of hybrid imaging instruments which offer an enhanced accuracy.
These advancements have been augmenting growth of the global breast cancer diagnostics market. Increasing incidences of breast cancer and growth in older female population are expected to create lucrative growth opportunities for breast cancer diagnostics.
In contrast, shortage of skilled and trained personnel is expected to pose a major challenge to the market growth of breast cancer diagnostics.
By test type, BRCA is expected to remain dominant in the market, with sales poised to surpass US$ 500 Mn by 2022-end. CA tests for breast cancer are expected to exhibit the highest CAGR in the market through 2022, followed by ER & PR tests. However, revenue from CA and ER & PR tests will remain low during the forecast period.
HER 2 test will remain the second-largest test type segment in the global breast cancer diagnostics market. Revenue from EGFR mutation tests will continue to be low in the global breast cancer diagnostics market.
Hospital-associated Labs to Remain the Largest End-Users in Breast Cancer Diagnostics Market
Hospital-associated labs are expected to remain the largest end-users of breast cancer diagnostics in the global market.
Breast cancer diagnostics in hospital-associated labs will account for the largest revenues by 2022-end, followed by independent diagnostic laboratories. Cancer research institutes are expected to register the highest CAGR through 2022.
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Key market players mentioned in Fact.MR’s report includes
- Abbott Laboratories
- Roche Holding AG
- Thermo Fischer Scientific Inc.
- Siemens AG
- Bio-Rad Laboratories Inc.
- Illumina Inc.
- Biocept Inc.
- Epigenomics AG
- AstraZeneca plc
- Myriad Genetics Inc.
- Quest Diagnostics Incorporated.
|End User||Hospital Associated Labs
Independent Diagnostic Laboratories
Cancer Research Institutes
(Additional information, including cross-sectional data and country-wise analysis & forecast is available in the report)
Medical organizations as well as leaders in the global pharmaceuticals industry are stepping up their efforts towards development of profound diagnosis for breast cancer.
Rising number of deaths caused by breast cancer is taking a toll on governments as people are demanding precision diagnosis and a cure-all for this terminal disease. In a bid to adapt to the urban rat race, millions of consumers have adopted lifestyles that are stemming the occurrence of breast cancer.
For public administration authorities, compelling people to avoid such lifestyles is like challenging the status quo.
The burden of controlling the incidence of breast cancer gets passed on to hospitals & medical research organizations as they strive to develop novel diagnostic and therapeutic procedures.
The report on the global market for breast cancer discusses such key factors that govern the economics of breast cancer diagnostics across the globe. Some of the key influences for the growth of the global breast cancer diagnostics market include:
- rising presence of carcinogenic elements in common consumables
- surging exposure to toxic substances in factories & industrial settings
- lack of awareness related to causes, symptoms, and preventive measures for breast cancer
- high healthcare costs, deterring breast cancer patients from seeking an optimum diagnosis
With the growing incidence of breast cancer, future generations will witness a more accessible, affordable, and diagnosis-associated treatment for breast cancer.
As breast cancer research organizations & societies struggle to develop effective medications in tight-budgeted capitals, governments are deploying initiatives that boost the awareness of breast cancer.
Need for Premeditated Breast Cancer Patient Compliance
Breast cancer patients are often riddled with confusing options for diagnosis. Choosing the right screening test can become a dilemma for the patient and his/her family.
Companies manufacturing medical instruments and devices for the diagnosis of breast cancer are expected to mitigate such difficulties by facilitating a well-laid patient compliance regime.
The global market for breast cancer diagnostics is anticipated to witness significant impact from diagnosis-associated patient compliance trials. Positive attitudes of patients towards certain diagnosis alternatives are decisive in changing future undertakings.
Prominent diagnostic tools are likely to be replaced with upgraded variants. The report has highlighted the influence of government undertakings in offering better compliance for the diagnosis of breast cancer patients.
Key players in the global breast cancer diagnostics market are collaborating with regional health ministries and medical administrators for gauging the impact of the therapeutic diagnosis on breast cancer patients.
Such cooperative efforts are of paramount importance in the global breast cancer diagnostics market, where overlooking the plausible aftereffects of diagnostic procedures can cost lives.
Breast Cancer diagnostics market – Regional Overview & Competitive Backdrop
A comprehensive section on the regional analysis of global breast cancer diagnostics market is included in the report. North America, Europe, Japan, Asia-Pacific excluding Japan (APEJ), Latin America, and Middle East & Africa are key regions into which the expansion of global breast cancer diagnostics market is studied.
Developed markets with robust healthcare infrastructures are deemed lucrative for patients seeking diagnosis for breast cancer. On the other hand, higher resource availability, cheap wages, and lenient manufacturing regulations in developing regions attract the attention of manufacturers of breast cancer diagnosis instruments.
In the report, there is an elaborate section on the competitive landscape of the global breast cancer diagnostics market. This part profiles key players in the global market, which includes leading manufacturers of diagnostic devices and related medical apparatus.
The scalability employed in profiling these players includes criteria such as the company’s contribution to global breast cancer diagnostics market revenues, recent mergers & acquisitions involving the company, and new product launches.
Through this report, companies can also understand the investment standpoint in the global breast cancer diagnostics market, which can be further inferred while taking insightful actions.
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