Breast Cancer Diagnostics Market
Breast Cancer Diagnostics Market Forecasts to 2030 - Global Analysis By Product (Instrument-based Products and Platform-based Products), Type (Biopsy, Imaging, Blood Tests, Genomic Tests, Nuclear Medicine Diagnostics, Histopathology and Other Types), Application, End User and By Geography
According to Stratistics MRC, the Global Breast Cancer Diagnostics Market is accounted for $4.75 billion in 2023 and is expected to reach $8.92 billion by 2030 growing at a CAGR of 9.4% during the forecast period. Breast cancer diagnostics are crucial for early detection and effective treatment planning. Early identification enables timely intervention, improving survival rates and reducing the need for aggressive treatments. Diagnostics aid in characterizing tumor types, guiding personalized therapies, and monitoring treatment response. They empower healthcare professionals to tailor interventions to individual patient needs, optimizing outcomes.
According to the American Cancer Society, it is estimated that approximately 281,550 new cases of breast cancer will be diagnosed in 2021, with an expected 49,290 related deaths in the U.S. alone.
Market Dynamics:
Driver:
Rising incidence of breast cancer
The escalating prevalence of breast cancer is a key catalyst for the breast cancer diagnostics. With a rising number of cases globally, there is an increasing demand for advanced diagnostic technologies and screening methods. Early detection is crucial for effective treatment, driving innovation in diagnostic tools such as mammography, molecular diagnostics, and biopsy. This surge in demand for accurate and timely breast cancer diagnosis is a significant factor fueling the expansion of the market.
Restraint:
Risk of overdiagnosis & false positives
Overdiagnosis and false positive result erroneously indicates the presence of cancer when it is not actually present. This can lead to unnecessary emotional distress, anxiety, and fear for the patient. Moreover, it often triggers further invasive procedures such as biopsies, exposing individuals to potential physical harm and discomfort. The psychological toll of living with the fear of cancer and the financial burden of additional medical tests can impact a patient's overall well-being.
Opportunity:
Integration of artificial intelligence & machine learning
The integration of artificial intelligence (AI) and machine learning (ML) in breast cancer diagnostics enhance the accuracy and efficiency of diagnostic processes by analyzing complex data patterns, aiding in early detection, and personalized treatment strategies. AI and ML empower healthcare professionals to make more informed decisions, leading to improved patient outcomes. This advancement not only revolutionizes diagnostic capabilities but also fosters innovation in the market, promising enhanced precision and effectiveness in addressing one of the most prevalent and critical health challenges worldwide.
Threat:
High cost of diagnostic procedures
Breast Cancer Diagnostics procedures involve advanced technologies such as mammography, MRI, and genetic testing, which incur high development, maintenance, and operational expenses. The intricate nature of these diagnostic tools, coupled with stringent quality standards, results in expensive procedures. This financial barrier limits timely detection and treatment, negatively impacting patient outcomes. As a result, the market faces challenges in achieving widespread adoption, improving patient outcomes, and addressing the broader public health impact of breast cancer.
Covid-19 Impact
The covid-19 pandemic has significantly impacted the market. Delays in routine screenings, reduced patient visits, and strained healthcare resources have led to a decline in the diagnosis of breast cancer cases. Disruptions in supply chains and healthcare services have also affected the market's growth. However, increased awareness and technological advancements, such as telemedicine and AI-driven diagnostics, have driven recovery and reshaped the landscape for breast cancer diagnostics in the post-pandemic era.
The biopsy segment is expected to be the largest during the forecast period
The biopsy segment is estimated to have a lucrative growth. Biopsy is a crucial procedure for confirming malignancy. It involves extracting a small tissue sample from the affected area for examination under a microscope. Biopsy results guide treatment decisions, helping healthcare professionals tailor effective therapies and interventions for patients diagnosed with breast cancer. Early and accurate biopsy results are pivotal in ensuring timely and appropriate management of breast cancer.
The thermography segment is expected to have the highest CAGR during the forecast period
The thermography segment is anticipated to witness the highest CAGR growth during the forecast period. Thermography in breast cancer diagnostics involves using infrared imaging to detect heat patterns and potential abnormalities in breast tissue. It is a non-invasive and radiation-free technique that highlights variations in temperature associated with blood flow and cellular activity. Its non-contact nature and lack of compression contribute to a more comfortable experience, making it a valuable adjunct to traditional diagnostic tools.
Region with largest share:
Asia Pacific is projected to hold the largest market share during the forecast period owing to the rising awareness, increased healthcare expenditure, and advancements in diagnostic technologies. It has the presence of top most players namely GE Healthcare, Abbott Laboratories, Siemens Healthineers and Roche Diagnostics. These companies often offer a diverse range of diagnostic technologies. The market is expected to continue its upward trajectory, driven by a growing patient population and government initiatives promoting cancer awareness and screening in the Asia-Pacific region.
Region with highest CAGR:
North America is projected to have the highest CAGR over the forecast period. The U.S. held the largest market share of the market in North America. The region is home to several market players including Bio-Rad Laboratories, Agendia, Genomic Health and Myriad Genetics. These key companies are adopting strategies such as mergers and acquisitions and partnerships, to acquire a larger market share. Breast cancer is the most commonly diagnosed cancer in most American countries. The rising prevalence of breast cancer, coupled with the development of healthcare infrastructure in North America, is expected to drive overall market growth.
Key players in the market
Some of the key players profiled in the Breast Cancer Diagnostics Market include Hologic Inc, GE Healthcare, Siemens Healthineers, Philips Healthcare, Abbott Laboratories, Roche Diagnostics, Thermo Fisher Scientific, PerkinElmer Inc., Agilent Technologies, Becton, Dickinson and Company (BD), Myriad Genetics Inc., Sysmex Corporation, NanoString Technologies, Genomic Health, Illumina Inc., Bio-Rad Laboratories, Sienna Cancer Diagnostics, Cepheid, Invivo Corporation and Aurora Diagnostics.
Key Developments:
In December 2023, GE HealthCare released a new, all-in-one platform of artificial intelligence (AI) apps to support clinicians with breast cancer detection and improved workflow productivity called MyBreastAI Suite.
In May 2023, Pfizer and Thermo Fisher Scientific Inc. have entered into a collaboration agreement to help increase local access to next-generation sequencing (NGS)-based testing for lung and breast cancer patients in more than 30 countries across Latin America, Africa, the Middle East and Asia where advanced genomic testing has previously been limited or unavailable.
Products Covered:
• Instrument-based Products
• Platform-based Products
Types Covered:
• Biopsy
• Imaging
• Blood Tests
• Genomic Tests
• Nuclear Medicine Diagnostics
• Histopathology
• Other Types
Applications Covered:
• Screening
• Diagnostic Imaging
• Thermography
• Other Applications
End Users Covered:
• Hospitals & Clinics
• Diagnostic Centers & Medical Laboratories
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Product Analysis
3.7 Application Analysis
3.8 End User Analysis
3.9 Emerging Markets
3.10 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Breast Cancer Diagnostics Market, By Product
5.1 Introduction
5.2 Instrument-based Products
5.3 Platform-based Products
6 Global Breast Cancer Diagnostics Market, By Type
6.1 Introduction
6.2 Biopsy
6.2.1 Needle Biopsy
6.2.2 Surgical Biopsy
6.3 Imaging
6.4 Blood Tests
6.4.1 Biomarker Testing
6.4.2 Circulating Tumor Cells (CTCs) Testing
6.5 Genomic Tests
6.5.1 Gene Expression Profiling
6.5.2 Next-Generation Sequencing (NGS)
6.6 Nuclear Medicine Diagnostics
6.6.1 Sentinel Lymph Node Biopsy
6.6.2 Positron Emission Tomography (PET)
6.7 Histopathology
6.8 Other Types
7 Global Breast Cancer Diagnostics Market, By Application
7.1 Introduction
7.2 Screening
7.2.1 Mammography
7.2.2 Breast Self-Examination (BSE)
7.2.3 Clinical Breast Examination (CBE)
7.2.4 Molecular Breast Imaging (MBI)
7.2.5 Breast Ultrasound
7.3 Diagnostic Imaging
7.3.1 X-ray
7.3.2 Magnetic Resonance Imaging (MRI)
7.3.3 Computed Tomography (CT) Scan
7.3.4 Ultrasound
7.3.5 Molecular Imaging Techniques
7.4 Thermography
7.5 Other Applications
8 Global Breast Cancer Diagnostics Market, By End User
8.1 Introduction
8.2 Hospitals & Clinics
8.3 Diagnostic Centers & Medical Laboratories
8.4 Other End Users
9 Global Breast Cancer Diagnostics Market, By Geography
9.1 Introduction
9.2 North America
9.2.1 US
9.2.2 Canada
9.2.3 Mexico
9.3 Europe
9.3.1 Germany
9.3.2 UK
9.3.3 Italy
9.3.4 France
9.3.5 Spain
9.3.6 Rest of Europe
9.4 Asia Pacific
9.4.1 Japan
9.4.2 China
9.4.3 India
9.4.4 Australia
9.4.5 New Zealand
9.4.6 South Korea
9.4.7 Rest of Asia Pacific
9.5 South America
9.5.1 Argentina
9.5.2 Brazil
9.5.3 Chile
9.5.4 Rest of South America
9.6 Middle East & Africa
9.6.1 Saudi Arabia
9.6.2 UAE
9.6.3 Qatar
9.6.4 South Africa
9.6.5 Rest of Middle East & Africa
10 Key Developments
10.1 Agreements, Partnerships, Collaborations and Joint Ventures
10.2 Acquisitions & Mergers
10.3 New Product Launch
10.4 Expansions
10.5 Other Key Strategies
11 Company Profiling
11.1 Hologic Inc
11.2 GE Healthcare
11.3 Siemens Healthineers
11.4 Philips Healthcare
11.5 Abbott Laboratories
11.6 Roche Diagnostics
11.7 Thermo Fisher Scientific
11.8 PerkinElmer Inc.
11.9 Agilent Technologies
11.10 Becton, Dickinson and Company (BD)
11.11 Myriad Genetics Inc.
11.12 Sysmex Corporation
11.13 NanoString Technologies
11.14 Genomic Health
11.15 Illumina Inc.
11.16 Bio-Rad Laboratories
11.17 Sienna Cancer Diagnostics
11.18 Cepheid
11.19 Invivo Corporation
11.20 Aurora Diagnostics
List of Tables
1 Global Breast Cancer Diagnostics Market Outlook, By Region (2021-2030) ($MN)
2 Global Breast Cancer Diagnostics Market Outlook, By Product (2021-2030) ($MN)
3 Global Breast Cancer Diagnostics Market Outlook, By Instrument-based Products (2021-2030) ($MN)
4 Global Breast Cancer Diagnostics Market Outlook, By Platform-based Products (2021-2030) ($MN)
5 Global Breast Cancer Diagnostics Market Outlook, By Type (2021-2030) ($MN)
6 Global Breast Cancer Diagnostics Market Outlook, By Biopsy (2021-2030) ($MN)
7 Global Breast Cancer Diagnostics Market Outlook, By Needle Biopsy (2021-2030) ($MN)
8 Global Breast Cancer Diagnostics Market Outlook, By Surgical Biopsy (2021-2030) ($MN)
9 Global Breast Cancer Diagnostics Market Outlook, By Imaging (2021-2030) ($MN)
10 Global Breast Cancer Diagnostics Market Outlook, By Blood Tests (2021-2030) ($MN)
11 Global Breast Cancer Diagnostics Market Outlook, By Biomarker Testing (2021-2030) ($MN)
12 Global Breast Cancer Diagnostics Market Outlook, By Circulating Tumor Cells (CTCs) Testing (2021-2030) ($MN)
13 Global Breast Cancer Diagnostics Market Outlook, By Genomic Tests (2021-2030) ($MN)
14 Global Breast Cancer Diagnostics Market Outlook, By Gene Expression Profiling (2021-2030) ($MN)
15 Global Breast Cancer Diagnostics Market Outlook, By Next-Generation Sequencing (NGS) (2021-2030) ($MN)
16 Global Breast Cancer Diagnostics Market Outlook, By Nuclear Medicine Diagnostics (2021-2030) ($MN)
17 Global Breast Cancer Diagnostics Market Outlook, By Sentinel Lymph Node Biopsy (2021-2030) ($MN)
18 Global Breast Cancer Diagnostics Market Outlook, By Positron Emission Tomography (PET) (2021-2030) ($MN)
19 Global Breast Cancer Diagnostics Market Outlook, By Histopathology (2021-2030) ($MN)
20 Global Breast Cancer Diagnostics Market Outlook, By Other Types (2021-2030) ($MN)
21 Global Breast Cancer Diagnostics Market Outlook, By Application (2021-2030) ($MN)
22 Global Breast Cancer Diagnostics Market Outlook, By Screening (2021-2030) ($MN)
23 Global Breast Cancer Diagnostics Market Outlook, By Mammography (2021-2030) ($MN)
24 Global Breast Cancer Diagnostics Market Outlook, By Breast Self-Examination (BSE) (2021-2030) ($MN)
25 Global Breast Cancer Diagnostics Market Outlook, By Clinical Breast Examination (CBE) (2021-2030) ($MN)
26 Global Breast Cancer Diagnostics Market Outlook, By Molecular Breast Imaging (MBI) (2021-2030) ($MN)
27 Global Breast Cancer Diagnostics Market Outlook, By Breast Ultrasound (2021-2030) ($MN)
28 Global Breast Cancer Diagnostics Market Outlook, By Diagnostic Imaging (2021-2030) ($MN)
29 Global Breast Cancer Diagnostics Market Outlook, By X-ray (2021-2030) ($MN)
30 Global Breast Cancer Diagnostics Market Outlook, By Magnetic Resonance Imaging (MRI) (2021-2030) ($MN)
31 Global Breast Cancer Diagnostics Market Outlook, By Computed Tomography (CT) Scan (2021-2030) ($MN)
32 Global Breast Cancer Diagnostics Market Outlook, By Ultrasound (2021-2030) ($MN)
33 Global Breast Cancer Diagnostics Market Outlook, By Molecular Imaging Techniques (2021-2030) ($MN)
34 Global Breast Cancer Diagnostics Market Outlook, By Thermography (2021-2030) ($MN)
35 Global Breast Cancer Diagnostics Market Outlook, By Other Applications (2021-2030) ($MN)
36 Global Breast Cancer Diagnostics Market Outlook, By End User (2021-2030) ($MN)
37 Global Breast Cancer Diagnostics Market Outlook, By Hospitals & Clinics (2021-2030) ($MN)
38 Global Breast Cancer Diagnostics Market Outlook, By Diagnostic Centers & Medical Laboratories (2021-2030) ($MN)
39 Global Breast Cancer Diagnostics Market Outlook, By Other End Users (2021-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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