Competitive Landscape Analysis of Breast Cancer Diagnostics Market with Forecast by 2027

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Wilmington, Delaware, USA, Transparency Market Research Inc. The global breast cancer diagnostics market was valued at USD 4.8 billion in 2018 and is projected to grow at a high CAGR from 2019 to 2027. High prevalence and rising incidence rate of breast cancer in world and technological advances in diagnostic techniques are anticipated. fueling global growth breast cancer diagnostics market.

Breast cancer is the most common form of cancer seen in women worldwide and accounts for approximately 12.3% of all reported cancer cases. Breast cancer begins in the breast tissues when breast cells begin to grow out of control.

Breast cancer starts in the milk ducts that carry milk to the nipple. It could also start in the mammary glands and other breast tissues. Symptoms of breast cancer are the formation of a new lump or lump in the breast, swelling, pain, and nipple retraction. The two main types of breast cancer are invasive breast cancer and non-invasive breast cancer. About 80% of breast cancers are invasive.

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Breast cancer can be diagnosed using different techniques, from physical examination to CT/PET scan. Mammography systems are used as the first line of breast cancer diagnosis. Other diagnostic tools for breast cancer are breast ultrasound systems, breast magnetic resonance imaging, computed tomography (CT scan), positron emission tomography (PET scan), breast biopsy and molecular testing .

The global breast cancer diagnostics market is expected to be driven by high prevalence and increasing incidence rate of breast cancer globally. According to the World Cancer Research Fund Organization, 2,088,849 cases of breast cancer were reported worldwide in 2018. The organization estimated that the number of breast cancer cases would reach 5.5 million in the world by the end of 2030.

Currently, R&D on cancer diagnostics is mainly focused on liquid biopsy. Market players and research institutes are conducting extensive clinical trials to develop a highly sensitive biopsy platform. In May 2018, Grail, a US-based biotechnology company, raised US$1 billion in venture capital funding and embarked on a study involving 120,000 patients for the early detection of breast cancer. . Extensive biopsy research to promote early diagnosis of cancer is expected to drive the global breast cancer diagnostics market over the forecast period.

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Breast Cancer Diagnostics Market: Segmentation

The global breast cancer diagnostics market has been segmented on the basis of technique, type of cancer, end-user and region

In terms of technique, the global breast cancer diagnostics market has been categorized into imaging, breast biopsy tests, and molecular tests. The imaging segment is expected to dominate the global breast cancer diagnostics market during the forecast period. Imaging tests are most preferred for the initial diagnosis of breast cancer and are comparatively more expensive than other tools. This can be attributed to the segment’s market dominance in 2018. The imaging segment has been categorized into mammography systems, breast ultrasound systems, MRI, and PET/CT.

On the basis of cancer type, the global breast cancer diagnostics market has been divided into ductal carcinoma in situ (DCIS) and invasive breast cancer. The invasive breast cancer segment accounted for the largest share of the global market in 2018 and the trend is expected to continue during the forecast period.

In terms of end user, the global breast cancer diagnostics market has been divided into hospitals and outpatient surgery centers, diagnostic laboratories and research institutes, and academics. The hospital and ambulatory surgery center segment dominated the global breast cancer diagnostic market in 2018 and the trend is expected to continue from 2019 to 2027.

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Breast Cancer Diagnostics Market: Regional Segmentation

In terms of region, the global breast cancer diagnostics market has been segmented into North America, Europe, Asia-Pacific, Latin America, Middle East & Africa

North America dominated the global market in 2018 and is expected to gain market share by the end of 2027. The dominance of the region in terms of market share can be attributed to the high prevalence and increasing of breast cancer incidence in the United States and Canada, and well-established healthcare institutions. High per capita healthcare expenditure, favorable medical reimbursement policies and early adoption of technologically advanced products are attributed to the region’s large share in the global breast cancer diagnostics market in 2018.

Asia-Pacific is expected to be the fastest growing market for breast cancer diagnostics over the forecast period. Japan dominated the market in the region in 2018. The Indian market is expected to grow at a high CAGR during the forecast period.

The Latin America, Middle East & Africa breast cancer diagnostics market is expected to grow at a high CAGR, driven by increasing demand for early breast cancer diagnosis and manufacturer focus on meeting unmet medical needs.

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Breast Cancer Diagnostics Market: Major Players

Companies such as Siemens Healthineers, GE Healthcare, and Hologic, Inc. accounted for a major share of the global breast cancer diagnostics market in 2018. Other global market players include

  • Abbott Laboratories
  • Koninklijke Philips NV, CR Bard, Inc.
  • F. Hoffmann-La Roche Ltd.
  • Fujifilm holding company
  • Leica Biosystems Nussloch GmbH
  • bioTheranostics, Inc.
  • Myriad Genetics, Inc.

These players are focusing on adopting organic and inorganic growth strategies to strengthen the product portfolio. These companies have adopted strategies such as collaborations and acquisitions, expanding their geographic footprint, investing in research and development, and manufacturing novel breast cancer diagnostic tools in order to compete in the market. worldwide in breast cancer diagnosis.

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