Global Breast Cancer Diagnostics Market Insights Forecasts to 2030

• The Breast Cancer Diagnostics Market was valued at USD 5.3 Billion in 2021.
• The Market is growing at a CAGR of 7.9% from 2022 to 2030
• The Worldwide Breast Cancer Diagnostics Market is expected to reach USD 7.9 Billion by 2030
• Asia Pacific is expected to grow the fastest during the forecast period

The Global Breast Cancer Diagnostics Market is expected to reach USD 7.9 Billion by 2030, at a CAGR of 7.9% during the forecast period 2022 to 2030.

Breast cancer is a common medical problem in the people which mainly occurs in women with proliferative diseases. The cancer specifically develops in the breast tissues. Some of the symptoms of breast cancer are a difference in size and shape of the breast, lumps present in the breast, discharge from the nipples, scaly red patches in the breast, and irritation on the skin. If the cancer is detected at an early age, it helps patients to recover faster and further prevent cancer cells from spreading to other body parts and do the treatment with new drugs available in the market.

Impact of COVID 19 On Global Breast Cancer Diagnostic Market

The COVID 19 pandemic has caused severe disruption the elective healthcare sector related to pre cancer, breast screening, and management of abnormal screening results. This is due to the fact that the increasing prevalence of breast cancer cases exacerbating existing health inequalities. In fact, key market players are taking various decision to conduct research and development activities to come up with new products and do strategic partnership in order to improve technology as well as test results related to the market.

Key Driving Factors

Increasing prevalence of breast cancer to drive the market growth

As per the report presented by World Health Organization (WHO), around 2.3 million women were affected due to breast cancer across the world in the year 2020 with 6,85,000 fatalities. Hence, the increasing prevalence of breast cancer cases is booming the global breast cancer diagnostic market over the forecast period. Furthermore, technological advancements in imaging are creating improvements and opportunities in early detection and screening of the disease. One of the advanced technologies is 3-D mammography which is also known as tomosynthesis. This test takes images from various angles of the breast and develops them into a 3D shape.

Key Challenging Factors

Adverse impacts of breast cancer therapeutics to restrain the market growth

Screening means looking the sign of a cancer before the person has any symptoms of it. This will help detect the cancer at an early stage. In fact, if an abnormal tissue or a cancer is detected at an early stage, it will can be treated easily. If the symptoms started to appear, the cancer might started to spread. There are various screening tests which are done to detect breast cancers such as diagnostic mammogram, breast magnetic resonance imaging, and biopsy. Although these tests are compulsory to be done in order to detect breast cancer, they also carry risks such as false positive results, false negative results, side effects like excessive exposure to radiation, psychological stress, and spread of cancerous cells.

Market Segmentation

Type Insights

Imaging segment holds the largest revenue share over the forecast period

On the basis of type, the global breast cancer diagnostics market is segmented into imaging, biopsy, genomic tests, blood tests, and others. Among these, the imaging segment holds the largest revenue share over the forecast period. The growth is attributed to certain elements like the volume of operations, simplicity of access, advanced efficacy. Some of the most popular imaging techniques for screening as well as diagnosis are mammography, ultrasonography and magnetic resonance imaging.

Application Insights

Diagnostic and predictive category holds the highest market share over the forecast period

Based on the application, the global breast cancer diagnostic market is segmented into screening, diagnostic and predictive, prognostic, and others. Among these, diagnostic and predictive segment is dominating the market with the largest market share over the forecast period due to the increasing acceptance of genetic testing. Prognostic segment, on the other hand is witnessing the fastest market growth over the projection period because these procedures are very important because they help in matching patients and medications. Hence, the chances of survival for the patients increase rapidly.

End Use Insights

Hospitals & Clinics segment is dominating the market over the forecast period

On the basis of end use, the global breast cancer diagnostics market is segmented into hospitals and clinics, diagnostic centers and medical laboratories, and others. Among these, the hospitals and clinics segment is dominating the market over the predicted timeframe. The growth is attributed by the increasing number of hospitalizations and rise in the burden of diseases. Once the screening test is done, individuals are taken to biopsis at hospitals for the final confirmations due to which diagnostic centers and laboratories segment is witnessing the fastest market growth.

Regional Insights

North America is dominating the market with the largest market share over the forecast period

North America is dominating the market with the largest market share over the forecast period due to the strong presence of the key market players, technological breakthroughs, established diagnostic and screening infrastructure, favourable reimbursement rules, and high patient awareness which are contributing towards the regional market growth.

Asia Pacific, on the other hand is witnessing the fastest market growth due to the increasing prevalence of breast cancer cases and the adoption of cutting edge diagnostic methods which are anticipated to drive the regional market growth. In addition, various reimbursement processes and building healthcare infrastructure in this region is also driving the regional market growth.

Key Market Developments

• In January 2021, Hologic Inc. acquired Somatex Medical Technologies GmbH and Biotheranostics in order to diversify its line of breast health products.
• In September 2020, Thermo Fisher Scientific, Inc. collaborated with AstraZeneca and the University of Nebraska Medical Center to develop clinical biomarkers.

List of Key Companies

• Genomic Health
• NanoString Technologies Inc.
• Paragon Biosciences LLC
• Siemens AG
• Quest Diagnostics Incorporated
• Koninklijke Philips N.V.
• Epigenomics Inc.
• AstraZeneca
• Biocept Inc.
• Devicor Medical Products Inc.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2019 to 2030. Spherical Insights has segmented the global Breast Cancer Diagnostics Market based on the below-mentioned segments:

Breast Cancer Diagnostics Market, Type Analysis

• Imaging
• Biopsy
• Genomic Tests
• Blood Tests
• Others

Breast Cancer Diagnostics Market, Application Analysis

• Screening
• Diagnostic and Predictive
• Prognostic
• Others

Breast Cancer Diagnostics Market, End Use Analysis

• Hospitals & Clinics
• Diagnostic Centers & Medical Laboratories
• Others

Breast Cancer Diagnostics Market, Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of Middle East & Africa