How Has the Breast Cancer Diagnostics Market Size Evolved in Recent Years?
The breast cancer diagnostics market has seen considerable growth due to a variety of factors.
• The market size for breast cancer diagnostics has seen significant growth in the recent past. The projection is that it will surge from $4.68 billion in 2024 to $5.04 billion in 2025, with a compound annual growth rate (CAGR) of 7.9%.
Factors such as awareness campaigns, mammography screening, technological progress, genetic testing, and a multidisciplinary approach have all contributed to this growth during the historic period.
What Are The Predictions for The Breast Cancer Diagnostics Template Market?
The breast cancer diagnostics market is expected to maintain its strong growth trajectory in upcoming years.
• The market size for breast cancer diagnostics is anticipated to experience substantial growth in the coming years, reaching $6.91 billion in 2029 with a compound annual growth rate (CAGR) of 8.2%.
This projected increase during the forecast period can be linked to factors such as personalized medicine, liquid biopsies, 3D mammography (tomosynthesis), AI and machine learning, as well as telemedicine and remote consultations. Moreover, the forecast period will witness prominent trends such as advancements in imaging technologies, the rise of personalized medicine, the use of liquid biopsies, the application of AI and machine learning.
What Main Forces Are Fueling Expansion In The Breast Cancer Diagnostics Market?
The surge in the occurrence of breast cancer necessitates an increase in diagnostic equipment, thereby escalating the demand in the breast cancer diagnostics market. With breast cancer being the most prevalent type of cancer, affecting 2.1 million women annually and accounting for the highest number of cancer-related deaths in women, the emphasis has shifted towards early diagnosis. The aim is to detect a higher percentage of breast cancers in their initial stages to provide more effective treatment and lower the mortality rate. For instance, the American Cancer Society, a US-based health organization committed to the eradication of cancer, reported in January 2022, an estimated 287,850 new cases of invasive breast cancer, along with 51,400 cases of DCIS. In addition to this, an expected 43,250 breast cancer fatalities are predicted in the United States for the year 2022. Consequently, the escalating incidence of breast cancer is anticipated to propel the growth of the breast cancer diagnostics market.
What Are The Core Segments Of The Global Breast Cancer Diagnostics Market?
The breast cancer diagnostics market covered in this report is segmented –
1) By Type: Imaging, Biopsy, Genomic Tests, Blood Tests, Other Types
2) By Technology: Fluorescent In Situ Hybridization (FISH), Comparative Genomic Hybridization (CGH), Immunohistochemical (IHC), Other Technologies
3) By Cancer Type: BRCA Breast Cancer, ER And PR Breast Cancer, HER 2 Breast Cancer, EGFR Mutation Test Breast Cancer, Other Cancer Types
4) By Diagnostic Type: Ionizing Breast Imaging Technologies, Non-ionizing Imaging Technologies
5) By End Users: Hospitals And Clinics, Cancer Research Centers, Diagnostic Laboratories, Ambulatory Surgical Centers
Subsegments:
1) By Imaging: Mammography, Ultrasound Imaging, Magnetic Resonance Imaging (MRI), Positron Emission Tomography (PET), Tomosynthesis
2) By Biopsy: Needle Biopsy, Core Needle Biopsy, Fine Needle Aspiration Biopsy (FNA), Stereotactic Biopsy
3) By Genomic Tests: Oncotype DX, MammaPrint, PAM50, BRCA1 Or 2 Testing
4) By Blood Tests: Liquid Biopsy, Circulating Tumor DNA (ctDNA) Tests, Circulating Tumor Cells (CTCs) Tests
5) By Other Types: Hormone Receptor Tests, HER2 Tests, Genetic Mutation Testing
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Which Emerging Trends Are Reshaping The Breast Cancer Diagnostics Market Size?
The progression of technology is a significant trend in the market for breast cancer diagnostics. Numerous innovative methods, suitable for diagnosing and treating breast cancer, have been developed recently. 3D mammography, or breast tomosynthesis, is able to create a 3-D model of the breast by photographing it from various angles. Niramai, an Indian Health-Tech firm, unveiled a cutting-edge solution known as Thermalytix in September 2022. This is an automatic screening and diagnostic instrument for breast cancer, merging thermal imaging and AI.
Who Are the Key Players In The Breast Cancer Diagnostics Market?
Major companies operating in the breast cancer diagnostics market include:
• Abbott Laboratories
• Myriad Genetics Inc.
• Hologic Inc.
• Koninklijke Philips N.V.
• Fujifilm Holdings Corporation
• GE Healthcare
• Thermo Fisher Scientific Inc.
• Siemens AG
• NanoString Technologies Inc.
• Gamma Medica Inc.
• Aurora Imaging Technology Inc.
• Dilon Technologies Inc.
• Exact Sciences Corporation
• F. Hoffmann-La Roche Ltd
• Micrima Limited
• Provista Diagnostics Inc.
• Leica Biosystems Nussloch GmbH
• bioTheranostics Inc.
• Bio-Rad Laboratories Inc.
• Illumina Inc.
• Biocept Inc.
• Epigenomics AG
• AstraZeneca plc
• Quest Diagnostics Incorporated
• Agilent Technologies Inc.
• Cepheid
• Guardant Health Inc.
• Invitae Corporation
• Natera Inc.
• NeoGenomics Laboratories Inc.
• Oncocyte Corporation
• PerkinElmer Inc.
• Sysmex Corporation
• Veracyte Inc.
What Are The Regional Insights Into The Breast Cancer Diagnostics Market?
North America was the largest region in the breast cancer diagnostics market in 2023. Asia-Pacific was the second largest region in the breast cancer diagnostics industry. The regions covered in the breast cancer diagnostics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
