Breast Cancer Diagnostics Market will Likely Rise to ~US$ 9 Bn by the End of 2027

Breast Cancer Diagnostics Market: Introduction

According to the report, the global breast cancer diagnostics market was valued at ~US$ 4.8 Bn in 2018 and is projected to expand at a high CAGR during the forecast period. Breast cancer is a type of cancer that starts in the breast, where the cells grow out of control. The breast cancer cells are formed in the lobules or ducts of the breast. It can also occur in the fatty tissue or the fibrous connective tissue of the breast. Breast cancer is the most common form of cancer among women across the globe. Older women are at higher risk of developing breast cancer. Breast cancer does not show any symptoms in the early stages. Different types of breast cancer have different symptoms. The common symptoms of breast cancer are breast lump, abnormal thickening of breast tissues, changes in size, shape, and appearance of the breast; changes in the skin over the breast, swelling in all parts of breast, inverted nipple, and peeling & scaling of skin on nipple. Breast cancer is primarily categorized into invasive breast cancer and non-invasive breast cancer. Invasive breast cancer is the most common form and accounts for about 80% of total breast cancer diagnosed globally.

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Breast cancer can be diagnosed with different imaging tools such as mammography, breast ultrasound systems, MRI scans, breast biopsy, and molecular diagnostics. Advancements in breast cancer diagnosis and increase in awareness about breast cancer in developed countries have led to the increased survival rates. Technological advancements in breast imaging, tissue biopsies, and molecular testing are likely to enable early detection and screening of breast cancer. The growth of the global breast cancer diagnostics market can also be attributed to the rise in prevalence of breast cancer across the globe, technological advancements & new product development, and increase in the geriatric population.

North America dominated the global breast cancer diagnostics market in 2018 and the trend is projected to continue during the forecast period. This can be ascribed to the presence of key players, increase in incidence of breast cancer, favorable reimbursement policies, and launch of new products.

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High Prevalence of Breast Cancer to Drive Global Market

Breast cancer is a frequently occurring cancer among women. According to the World Health Organization, around 2.1 million women across the world are diagnosed with breast cancer every year. In 2018, an estimated 627,000 women succumbed to breast cancer across the globe. According to World Health Organization (WHO) statistics published in December, 2013, 1.7 million i.e., 11.9%, people were diagnosed with breast cancer globally in 2012. Breast cancer was the cause of death of 522,000 women globally in 2012. According to the World Cancer Research Fund, the number of breast cancer cases will reach 5.5 million in 2030. Hence, high prevalence and increase in incidence rate of breast cancer across the globe is projected to drive the breast cancer diagnostics market during the forecast period.

Technological Advancements and New Product Development to Propel Global Market

Technological advancements in breast cancer imaging & tissue biopsies and increased research funding for breast cancer diagnosis have led to new product development. Multiple studies on and products comprising emerging technologies in breast imaging were presented at the 2014 Radiological Society of North America (RSNA) conference in December, with a focus on how these would affect women who have dense breasts. Most researchers have been comparing the utility of mammography screening versus tomosynthesis. According to Volpara Solutions, the efficacy of mammography is reduced for a significant number of women due to the masking of cancers in areas of increased tissue density. However, introduction of 3D mammography improves cancer detection in dense breasts. A newer breast imaging modality - digital breast tomosynthesis (DBT) or 3D mammography - creates a 3D picture of the breast using X-ray, and has become a more popular method of screening.

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Imaging Segment to Lead Global Market

In terms of technique, the global breast cancer diagnostics market has been classified into imaging, tissue biopsy tests, and molecular diagnostics. Imaging is projected to be the leading segment during the forecast period. The imaging segment has been categorized into mammography, breast ultrasound systems, MRI scan, and PET/CT scan. SCS are primarily intended for relieving chronic pain in long-term medical care. Mammography is considered a standard technique and first-line diagnostic test for breast cancer. Significant rise in adoption of digital mammography systems across health care facilities, rise in demand for mammography systems in emerging markets, and increased government funding for breast cancer diagnosis & treatment contributed to the mammography sub-segment's dominant share of the imaging segment in 2018. The mammography sub-segment has been bifurcated into analog mammography and digital mammography.

Invasive Breast Cancer to Grow at Rapid Pace

Based on cancer type, the global breast cancer diagnostics market has been split into ductal carcinoma in situ and invasive breast cancer. The invasive breast cancer segment dominated the global market in 2018 and the trend is projected to continue during the forecast period. One in every eight women is likely to develop invasive breast cancer during her lifetime. The invasive breast cancer segment has been segregated into invasive ductal carcinoma (IDC), invasive lobular carcinoma, metastatic breast cancer, and others.

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Hospitals & Ambulatory Surgery Centers to Lead Global Market

In terms of end user, the global breast cancer diagnostics market has been divided into hospitals & ambulatory surgery centers, diagnostic laboratories, and research & academic institutes. The hospitals & ambulatory surgery centers segment held the largest market share in 2018 and the trend is anticipated to continue during the forecast period. Hospitals and ambulatory surgery centers are the first choice of settings for diagnosis of breast cancer across the globe. Imaging systems such as mammography, CT scan, MRI scan, and ultrasound are costly and are largely purchased by these large institutions. This can be attributed to the hospitals & ambulatory surgery centers segment's dominant share in 2018.

Breast Cancer Diagnostics Market: Prominent Regions

The global breast cancer diagnostics market has been segmented into five major regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global breast cancer diagnostics market in 2018, followed by Europe.

Innovative Product Launch and M&A by Key Players to Augment Global Market

The global breast cancer diagnostics market is consolidated in terms of number of players. A small number of players accounts for majority share of the global market. Key players operating in the global breast cancer diagnostics market include Abbott Laboratories, GE Healthcare (General Electric Company), Koninklijke Philips N.V., Hologic, Inc., C. R. Bard, Inc. (Becton, Dickinson and Company), Siemens Healthineers (Siemens AG), F. Hoffmann-La Roche Ltd., Fujifilm Holding Corporation, Leica Biosystems Nussloch GmbH (Danaher), bioTheranostics, Inc., and Myriad Genetics, Inc. These players have adopted various strategies such as product portfolio expansion, investment in research & development, development of novel breast cancer diagnostics tools, and mergers & acquisitions to establish a strong distribution network. For instance, in November 2019, GE Healthcare launched the health care industry's first contrast-enhanced mammography solution 'Serena Bright' for tissue biopsy.

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