Global Cancer Diagnostics Market Worth US$ 500 Mn during the forecast period between 2017 and 2022 | Key Players are Myriad Genetics Inc., Biocept Inc., Epigenomics AG, etc.
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Breast cancer is a cancer that develops when cells and tissues in the breast begin to grow out of control. Usually forming into a tumor, breast cancer is visible as a lump surrounding the internal breast tissues. Breast cancer tumor is malignant, and occurs almost entirely in women, apart from exceptional occurrences in men.
Fact.MR, in its latest report, estimates the global breast cancer diagnostics market to register a moderate expansion at 4.7% CAGR during the forecast period 2017 to 2022.
Screening Practices of Breast Cancer Witnessed to Alter Early Detection Practices
Breast cancer has become the most common type of cancer for women across the globe. The number of women suffering from breast cancer is witnessing a surge. This has led towards necessity for efficient early detection of breast cancer. Mammography screening, an established method adopted across several countries, has been recently been observed to offer inconclusive test results. Risk-adapted, personalized therapy and screening are predicted to resolve these difficulties. In addition, tomosynthesis, a new imaging technology, has been seen to overcome the drawbacks of mammography.
Screening options for breast cancer have been witnessing a rise, and have been altering practices of early detection across industrialized economies. Moreover, countries such as Brazil, India and China are focusing on development of cost-effective screening strategies capable of being adapted as per requirements.
Introduction of Hybrid Imaging Instruments Offering Enhanced Accuracy to Drive Growth of the Market
The global breast cancer diagnostics market has been witnessing a robust transformation on the back of several technological advancements in the diagnostic platforms. The market has witnessed the introduction of hybrid imaging instruments which offer an enhanced accuracy. These advancements have been augmenting growth of the global breast cancer diagnostics market. Increasing incidences of breast cancer and growth in older female population are expected to create lucrative growth opportunities for breast cancer diagnostics. In contrast, shortage of skilled and trained personnel is expected to pose a major challenge to the market growth of breast cancer diagnostics. By test type, BRCA is expected to remain dominant in the market, with sales poised to surpass US$ 500 Mn by 2022-end. CA test for breast cancer are expected to exhibit the highest CAGR in the market through 2022, followed by ER & PR test. However, revenue from CA, and ER & PR tests will remain low during the forecast period. HER 2 test will remain the second largest test type segment in the global breast cancer diagnostics market. Revenue from EGFR mutation test will continue to be low in the global breast cancer diagnostics market.
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Hospital-associated labs are expected to remain the largest end-users of breast cancer diagnostics in the global market. Breast cancer diagnostics in hospital-associated labs will account for the largest revenues by 2022-end, followed by independent diagnostic laboratories. Cancer research institutes are expected to register the highest CAGR through 2022.
Key market players mentioned in Fact.MR’s report include Abbott Laboratories, Roche Holding AG, Thermo Fischer Scientific, Inc., Siemens AG, Bio-Rad Laboratories, Inc., Illumina, Inc., Biocept, Inc., Epigenomics AG, AstraZeneca plc, Myriad Genetics, Inc., and Quest Diagnostics Incorporated.
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