PUBLISHER: DataM Intelligence | PRODUCT CODE: 1138359
PUBLISHER: DataM Intelligence | PRODUCT CODE: 1138359
Breast Cancer Diagnostics Market is expected to grow at a CAGR of 7.7% during the forecasting period (2022-2029).
Breast cancer is characterized by a malignant tumor formed in breast cells. It is the most common invasive cancer in women, and the second main cause of cancer death in women, after lung cancer.
The breast cancer diagnostics market growth is driven by several factors, such as the rising incidence of breast cancer globally, technological advancement in diagnosis, and increasing government initiatives toward awareness about breast cancer.
The increasing burden of breast cancer and different awareness campaigns drive global market growth.
Per the WHO, breast cancer is the most frequent cancer among women, impacting 2.3 million women in 2020, and has claimed 685 000 deaths worldwide. By the end of 2020, around 7.8 million women were living with diagnosed breast cancer in the last half-decade, making it the world's most prevalent cancer. While breast cancer rates in women from more developed regions are higher, rates are also increasing in nearly every region worldwide. Early detection by diagnosis and screening is crucial to improving breast cancer outcomes and survival. Hence, the demand for diagnosis of breast cancer is rising globally. Furthermore, the increased efforts against breast cancer are fueling market growth. For instance, WHO promotes comprehensive breast cancer control programs as part of national cancer control plans, also Estee Lauder Company's Breast Cancer Campaign 2021 raised more than $99 million globally for lifesaving research, education, and medical services, with more than $80 million funding 321 medical research grants through the Breast Cancer Research Foundation (BCRF).
The costly follow-ups and high false positive cancer diagnoses are restraining the global breast cancer diagnostics growth.
The costly follow-ups for diagnosis, limited availability and stringent regulatory framework are some factors hindering the growth of the breast cancer diagnostics market globally. For instance, mammography costs around $200 and approx. 50% of women are poorly diagnosed. There is also limited access to current cancer screening methods in Eastern Europe, Asia and Africa due to the high cost of diagnostic imaging equipment. High false positive cancer diagnosis rate and indeterminate mammograms that require follow-up with MRI, 3D mammography and biopsies are challenges to the breast diagnostics market. Global Breast Cancer Diagnostics Market-Industry analysis.
The global breast cancer diagnostics report will provide an in-depth analysis of the market based on various industry factors such as porter`s five forces, innovations, new product launches, pricing Etc.
COVID-19 has negatively impacted the global market during the outbreak since, to prevent the COVID-19 infection spread, various restrictions and regulations were employed, making it difficult for people to perform mammography and other breast cancer diagnostic tests affecting the market. Furthermore, a retrospective study of cases diagnosed by a reference service in the public health system of Campinas, SP, Brazil, concluded that Amid the COVID-19 pandemic, breast cancer diagnoses declined. Moreover, the cases detected indicated a worsened prognosis as early detection was not performed.
The imaging test market is expected to have a greater grasp of the breast cancer diagnostics market during the forecast period (2022-2029)
The imaging test market held a significant market share in 2021 and is expected to have a large market share in the forecast period (2022-2029). Developments and advancements drive growth in the global mammography market in the imaging test market. A mammogram is an x-ray that allows a qualified specialist to examine the breast tissue for any suspicious areas. In a diagnostic mammogram, more x-rays are taken, providing views of the breast from multiple vantage points. Mammography is less likely to reveal breast tumors in women younger than 50 years than in older women because younger women have denser breast tissue that appears white on a mammogram. Mammography facilities in the United States and its territories (including military bases) are subject to the Mammography Quality Standards Act (MQSA). The act requires annual inspections and accreditation every 3 years through an FDA-approved body. Furthermore, the advancements in imaging diagnostics techniques ensure its dominance over the global market. For instance, the advancement in artificial intelligence (AI) and its augmentation for particularly improving cancer detection and workflow, also the through the ongoing efforts for improving cancer detection, contrast-enhanced imaging has been introduced into diagnostic mammography, helping augment morphologic data with physiological information for better understanding of a lesion of concern is growing.
North America is dominating the global Breast Cancer Diagnostics market.
North America dominated the breast cancer diagnostics market in 2021. It is estimated to hold the largest market size over the forecast period (2022-2029) owing to rising breast cancer cases and increasing technological advancements in cancer diagnosis. For instance, as per the statistics from Breastcancer.org, as of January 2022, over 3.8 million women with a history of breast cancer in the U.S. and about 1 in 8 U.S. women (about 13%) in their lifetime will develop invasive breast cancer. In 2022, around 287,850 new cases of invasive breast cancer will be diagnosed in U.S. women, also 51,400 new cases of non-invasive (in situ) breast cancer. In 2022 About 2,710 new cases of invasive breast cancer are expected to be detected in men. Over About 43,250 women in the U.S. are expected to die in 2022 from breast cancer. In addition, increasing development by manufacturers in breast cancer diagnostics is driving the market growth in this region. For instance, on August 16, 2021, Fujifilm and ScreenPoint Medical Partnered to Offer Providers an AI Solution Designed for Early Breast Cancer Detection.
The Breast Cancer Diagnostics market is highly fragmented, with many local and international players. Some of the major players in the Breast Cancer Diagnostics market are 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, Hologic Inc., Koninklijke Philips N.V., FUJIFILM Holdings Corporation, and Toshiba Corporation. The key players are adopting various growth strategies such as product launches, mergers & acquisitions, partnerships, and collaborations which are contributing to the growth of the Breast Cancer Diagnostics market globally. For instance, on October 15, 2020, FUJIFILM Medical Systems U.S.A., Inc. and Volpara Solutions Expand Partnership to Enable Personalized, High-Quality Breast Cancer Screenings. Also, on 07.12.2021, Roche introduced its newest artificial intelligence (AI) to improve the evaluation of breast cancer markers, Ki-67, ER and PR by pathologists.
Siemens AG is a leading industrial manufacturing company founded in 1847 and is headquartered in Munich. At present, Siemens has fifty-five subsidiaries enlisted under the German Commercial Code. The company deals with Industry Solutions, Energy Solutions, Healthcare Solutions (Siemens Healthineers), and Infrastructure & City Solutions.
The product portfolio of Siemens AG for breast cancer diagnostics has MAMMOMAT Revelation, MAMMOMAT Inspiration, MAMMOMAT Fusion and Mammomat Select.
The global breast cancer diagnostics report would provide access to approximately 40+ market data tables, 45+ figures, and in the range of 200 (approximate) pages.