The global breast cancer diagnostics market size was estimated at US$ 4.40 billion in 2022 and is expected to reach over US$ 8.70 billion by 2032, poised to grow at a CAGR of 7.10% from 2023 to 2032.
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The U.S. breast cancer diagnostics market size was valued at US$ 1.39 billion in 2022 and is predicted to expand over US$ 2.71 billion by 2032, at a CAGR of 7% from 2023 to 2032.
North America dominated the breast cancer diagnostics market in 2022. The presence of large players, well-established diagnostic and screening infrastructure, technological breakthroughs, strong patient awareness, and attractive reimbursement policies are all elements that contribute to the region’s dominance.
Asia-Pacific, on the other hand, is expected to develop at the fastest rate during the forecast period, as a result of the rising incidence of breast cancer and the use of better diagnostic procedures. Furthermore, the breast cancer diagnostics market expansion is likely to be supported by increasing reimbursement guidelines and expanding healthcare infrastructure.
In the glandular tissue of the breast, breast cancer develops in the living cells of the ducts or lobules. The malignant development is initially restricted to the duct or lobule, where it usually causes no symptoms and has a low risk of spreading.
The treatment for breast cancer can be quite effective, especially if the disease is detected early. The microscopic cancer that has spread from the breast tumor through the blood is generally treated with a combination of surgical removal, medication, and radiation therapy. This type of treatment, which can stop cancer from spreading and growing, save lives.
According to World Health Organization (WHO), breast cancer has affected 2.3 million women worldwide in 2020, with 6,85,000 fatalities. Breast cancer has been diagnosed in 7.8 million women in the previous 5 years as of the end of 2020, making it the most common cancer in the world. Thus, the rising prevalence of breast cancer is driving the growth of the global breast cancer diagnostics market during the forecast period.
Breast cancer tumors are one of the most difficult to diagnose and cure because they are usually discovered after they have progressed to an advanced stage. People are looking for more efficient diagnostic options to deal with the condition effectively; hence demand for early diagnosis of breast cancer is on the rise. Imaging and screening, in addition to other tests for detecting breast cancer, have seen a significant increase in popularity. Although breast cancer screening is thought to be helpful, several approaches are still being contested as to whether they are safe and accurate for long term use.
The most well-known and extensively utilized method is imaging. Due to lack of data to support their reliability, affordability, accuracy, the demand for genomic testing, next generation sequencing, and blood tests in breast cancer diagnosis is very low compared to imaging. Breast biopsy for breast cancer diagnosis is expected to grow in popularity steadily over the forecast period.
The demand for early breast cancer diagnostics in developed nations is increasing due to an increase in cancer cases. A major aspect affecting demand for breast cancer diagnostics in developing nations is the development of inexpensive and cost-effective diagnostic options.
Thus, the rising number of patients with breast cancer and breast-related disorders, the growing number of breast cancer screening programs, the prevalence of favorable government reimbursement policies, and the growth in the number of private diagnostic centers are all expected to boost the global breast cancer diagnostics market during the forecast period.
|Market Size||US$ 8.70 Billion by 2032|
|Growth Rate||CAGR of 7.10% from 2023 to 2032|
|Largest Market||North America|
|Fastest Growing Market||Asia Pacific|
|Forecast Period||2023 to 2032|
|Segments Covered||Product, End Use, Application, Region|
|Companies Mentioned||Genomic Health, NanoString Technologies Inc., Paragon Biosciences LLC, Devicor Medical Products Inc., AstraZeneca, Quest Diagnostics Incorporated, Koninklijke Philips N.V., Siemens AG, Biocept Inc., Epigenomics Inc.|
The instrument-based products had the highest revenue share in 2022. For widespread population-based screening of breast cancer patients, imaging is the first approach. All women with breast cancer undergoes a biopsy to confirm their diagnosis of the treatment.
The platform-based products segment is fastest growing segment of the breast cancer diagnostics market in 2020. Due to the increased demand of such products for targeted therapy, the platform-based products segment is expected to develop at the quickest rate throughout the projection period. The next generation sequencing, polymerase chain reaction, and other technologies are used to diagnose breast cancer.
The imaging had the highest revenue share in 2022. The segment is expected to be driven by factors such as ease of access, high number of operations, and increased effectiveness. The ultrasounds, mammograms, and magnetic resonance imaging are the most common imaging methods used for screening and diagnosis.
The blood tests segment is fastest growing segment of the breast cancer diagnostics market in 2020, as a result of a number of research projects being conducted globally by research groups and key players. The liquid biopsy tests’ excellent efficacy is predicted to propel the blood testing segment growth.
The diagnostics and predictive segment dominated the breast cancer diagnostics market in 2022. The rising popularity of genetic testing may contribute to the expansion of the segment.
The prognostic segment, on the other hand, is predicted to develop at a rapid rate over the projection period. As these tests are used to match patients with medicines, they are booming increasingly significant. As a result, the patient’s chances of survival improve dramatically.
In 2022, the hospitals and clinics segment dominated the breast cancer diagnostics market. The segment’s expansion is likely to be fueled by rising patient hospitalizations and the growing burden of disease. The patients undergo biopsies for confirmation testing in hospitals after the screening test.
The diagnostic centers and medical laboratories segment, on the other hand, is predicted to develop at the quickest rate in the future years, as a result of an increase in the number of government programs to provide various services, such as diagnostic test reimbursement.
To strengthen their product portfolio, the major market players use organic and inorganic expansion tactics. To stay competitive in the global breast cancer diagnostics market, these companies have used methods such as geographic growth, collaborations, acquisitions, investment in research and development, and manufacturing of novel breast cancer diagnostic tools in the market.
Segments Covered in the Report
By End Use
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