Breast Cancer Diagnostics Global Market Report 2022

·4 min read

Major players in the breast cancer diagnostics market are Abbott Laboratories, Myriad Genetics Inc, Hologic Inc, Koninklijke Philips N. V, Fujifilm Holdings Corporation, GE Healthcare, Thermo Fischer Scientific Inc, Siemens AG, NanoString Technologies Inc, and C.

New York, May 24, 2022 (GLOBE NEWSWIRE) -- announces the release of the report "Breast Cancer Diagnostics Global Market Report 2022" -
R. Bard Inc.

The global breast cancer diagnostics market is expected to grow from $3.75 billion in 2021 to $4.06 billion in 2022 at a compound annual growth rate (CAGR) of 8.3%. The market is expected to grow to $5.48 billion in 2026 at a compound annual growth rate (CAGR) of 7.8%.

The breast cancer diagnostics market consists of sales of breast cancer diagnostic devices and related services by entities (organizations, sole traders, and partnerships) that produce breast cancer diagnostics devices.These devices are used to diagnose breast cancer.

Only goods and services traded between entities or sold to end consumers are included.

The main types of breast cancer diagnostics are Imaging, biopsy, genomic tests, blood tests, and others.The biopsy is the process of removing a piece of tissue or a sample of cells from the body so that it can be tested in a laboratory.

The technology involved is fluorescent in situ hybridization (fish), comparative genomic hybridization (cgh), immunohistochemical (ihc), and other technologies.The cancer types involved are brca breast cancer, er & pr breast cancer, her 2-breast cancer, egfr mutation test breast cancer, and others.

The diagnostic types involved are ionizing breast imaging technologies and non-ionizing imaging technologies. The end-users involved are hospitals and clinics, cancer research centers, diagnostic laboratories, and ambulatory surgical centers.

North America was the largest region in the breast cancer diagnostics market in 2021.Asia Pacific was the second largest region in the breast cancer diagnostics market.

The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

The increasing incidence of breast cancer will require more equipment to diagnose, which will further increase the demand for the breast cancer diagnostics market. Breast cancer is the most common form of cancer, affecting 2.1 million women every year, and causing the largest number of deaths from cancer in women. The goal of the early diagnosis is to improve the percentage of breast cancers diagnosed at an initial point so that more successful care will be used and the risk of death from breast cancer can be reduced. According to the World Health Organization (WHO), around 2.3 million women were diagnosed with breast cancer and 685,000 people died of breast cancer in 2020. Therefore, the increasing incidence of breast cancer is expected to drive the growth of the breast cancer diagnostics market.

The high cost of diagnosis of breast cancer is a key factor that hinders the growth of the market for diagnostics of breast cancer.The cost of diagnosis for breast cancer typically rose with the initiation of the diagnostic stage of the disease.

According to a 2019 study conducted by Mesothelioma Center, around 63% of respondents that comprise of people with cancer and their family members reported financial difficulties.For instance, the total cost of diagnosis for breast cancer was $353 per patient but diagnostic costs varied from $151 in some regions to $751 in others.

Therefore, the high-cost diagnosis of breast cancer makes the process a distant option and hinders the growth of the breast cancer diagnostics market.

Technological advancement is a key trend in the breast cancer diagnostics market.Several new techniques have been developed which could be used in the diagnosis and treatment of breast cancer.

The 3D mammography, also known as breast tomosynthesis, takes photographs around the breast from various angles and translates them into a 3-D model. In March 2019, Southwest Medical Center, a US-based company, launched 3D mammography services that provide patients with access to enhanced breast imaging services closer to home.

In November 2019, EXACT Sciences Corporation, a US-based molecular diagnostics company, acquired Genomic Health for $2.8 billion. Through this acquisition, Exact Sciences will be able to facilitate therapy decisions for colorectal, breast, and prostate cancers by Genomic Health’s Oncotype DX gene expression. Genomic Health is a US-based genomic diagnostics manufacturer.

The countries covered in the breast cancer diagnostics market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.

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