- Need for cost-effective and rapid detection of breast cancer is crucial for reducing the prevalence of breast cancer, large-scale demand for mammography systems due to their cost-effectiveness
- Stakeholders are looking forward for the translation of novel technologies such as AI in routine clinical practice to overcome the limitations of the currently available technologies
ALBANY, N.Y., Nov. 17, 2020 /PRNewswire/ -- Stakeholders including medical companies are relentlessly working toward developing and unveiling breast diagnostic approaches that are cost-effective, accurate, and rapid detection. The drive comes from the need for early-stage cancer detection for breast cancer for reducing the prevalence and also lowering the mortality rate.
Some of the key approaches in the breast cancer diagnostics market are imaging, tissue biopsy tests, and molecular diagnostics. Globally, mammography has been widely adopted as a standard technique in the healthcare due to its cost-effectiveness. Digital mammography technologies are gathering traction due to their higher accuracy.
The large unmet need for early-stage detection of breast cancer in women of different age groups is a key propeller for substantial avenues in the breast cancer diagnostics market during the forecast period of 2019 – 2027.
Analysts at TMR project the market to clock CAGR of ~7% during 2019 – 2027, globally. Need for developing of assays with high sensitivity and specificity has paved way to precision medicines and personalized therapies, contend experts.
Asia Pacific is projected to be most attractive market in terms of growth rate during 2019 – 2027, propelled increasingly by adoption of screening methods particularly mammography systems.
Explore 207 pages of top-notch research, incisive insights, and detailed country-level projections on Breast Cancer Diagnostics Market (Technique: Imaging, Tissue Biopsy Tests, and Molecular Testing; Cancer Type: Ductal Carcinoma In Situ [DCIS] and Invasive Breast Cancer; and End User: Hospitals & Ambulatory Surgery Centers, Diagnostic Laboratories, and Research & Academic Institutes) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 – 2027 at https://www.transparencymarketresearch.com/report-toc/76742
Key Findings of Breast Cancer Diagnostics Report
Of the various techniques, imaging contributed the major market share in 2018
Among the various cancer types, invasive breast cancer segment held the major share in 2018 in breast cancer diagnostics market
Hospitals & ambulatory surgery centers was the major end-user segment in 2018
North America held the major share in global market in 2018
Asia Pacific expected to expand the leading CAGR during 2019 – 2027
Latin America and the Middle East and Africa are potentially lucrative markets
The global breast cancer diagnostics market was pegged at ~US$ 4.8 Bn in 2018
Expanding at an impressive CAGR during 2019 – 2027, the global valuation is expected to reach ~US$ 9 Bn by the period-end.
Breast Cancer Diagnostics Market: Key Driving Factors and Promising Avenues
The high prevalence and rise in incidence of breast cancer among women has bolstered the need for advances in breast cancer diagnostics for boosting the survival rates. Glaring epidemiology statistics put forth by the WHO has been providing a key underpinning to the expansion of breast cancer diagnostics market.
Frequently impacting among women globally, breast cancer affects 2.1 million women each year. In 2018 alone, 627,000 women died from the condition
Worldwide, the incidence of breast cancer is rising, more in developed regions. Invasive cancer incidence is substantially high.
Demand for developing cost-effective and rapid technology for screening and diagnosing the cancer has boosted the technological landscape in the breast cancer diagnostics market.
The adoption of technologies to boost breast cancer outcome mandates that reliable indicators are found. Rise in clinical studies in this direction is a key trend in the breast cancer diagnostics market.
Research in antigens and auto-antibodies such as tumor-associated antigens (TAAs) are expanding the avenue.
Studies on biosensors and biomarkers are likely to bring forward novel diagnostic technologies for clinical adoption. A case in point is artificial intelligence platforms. Those have potential in identifying early-stage cancer cells.
Some of the recent research and studies center of liquid biopsies, since they are non-invasive and advanced than most of the common diagnostics. This helps in early staging of cancer.
The healthcare industries in several developing and developed economies are promoting early diagnosis strategies. This is difficult to achieve in limited resource settings.
Breast Cancer Diagnostics Market: Competitive Assessment
Researchers are trying to develop breast cancer diagnostics that have high specificity and sensitivity as well are cost effective. This is a veritable challenge. A number of top players are leaning on leveraging the potential of combining AI with imaging modalities. Stakeholders in breast cancer diagnostics market have also benefitted from the sales of digital breast tomosynthesis (DBT) or 3D mammography.
Overall the breast cancer diagnostics market is largely consolidated, with relatively few players holding most of the shares. Top players are keen on making constant technological advancements and investing in research.
Global Breast Cancer Diagnostics Market: Research Scope
Breast Cancer Diagnostics Market, by Technique
Breast Ultrasound System
Tissue Biopsy Tests
Breast Cancer Diagnostics Market, by Cancer Type
Ductal Carcinoma In Situ (DCIS)
Invasive Breast Cancer
Invasive Ductal Carcinoma
Invasive Lobular Carcinoma
Metastatic Breast Cancer
Breast Cancer Diagnostics Market, by End User
Hospitals & Ambulatory Surgery Centers
Research & Academic Centers
Breast Cancer Diagnostics Market, by Region
Rest of Europe
Australia & New Zealand
Rest of Asia Pacific
Rest of Latin America
Middle East & Africa
Rest of Middle East & Africa
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