Breast Cancer Screening Market is anticipated to register a CAGR of 25% over the forecast duration of 2022-2030
The global Breast Cancer Screening Market is valued at USD 9.23 billion in 2022 and is projected to reach a value of USD 26.32 billion in 2030 expanding at a CAGR of 25% over the forecast duration of 2022-2030.
Global Breast Cancer Screening Market- Overview
Breast cancer has become a common type of disease in today's world. Breast cancer screening generally refers to a set of tests that are done with the intention of identifying breast cancer in people who do not show the symptoms.
Breast cancer screening is done for the early detection as well as a treatment before the tumour causes any further complications or spreads into the other body parts. It also reduces the mortality rate by 25%.
For the detection of breast cancer, a mammogram is used that involves the use of a low-dose X-ray machine which helps in detecting changes in tissues inside the breast, such as lumps that are caused because of certain diseases, such as tumours.
It is a diagnostic test that can be used to examine the breast, majorly in women who are at high risk for cancer development.
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Key market trends- Growth determinants and Challenges
The global breast cancer screening market is being fuelled by factors, such as the increase in incidences and prevalence rates of breast cancer in developing countries. These high incidence rates have helped the population to be more aware of preventive measures against cancer. This includes breast cancer screening and also the demand for these services has increased, globally.
Additionally, the rise in awareness among women in regards to the early detection of cancers through effective breast cancer screening has driven the market growth throughout the forecast duration. This is because of the rise in cases of late diagnosis that resulted in death or disability caused by the side effect of this treatment.
Also, there has been a rise in demand for breast cancer screening in developed as well as developing countries and the tests are leading to boosting the global market over the forecast duration.
On the flip side, the high cost of breast cancer screening and diagnosis is the key factor hindering the market growth over the forecast duration. This is because the cost of diagnosis is typically rising with the initiation of the diagnostic stage of the disease.
Segmental analysis of the market
Based on type
• Mammography screening
• Breast magnetic resonance imaging screening
• Breast ultrasound screening'
The MRI screening holds the largest share in the market as it finds cancer in its earlier stages and also reduces the mortality rate from breast cancer.
Based on applications
Hospitals have dominated the application segment. This is because the cancer treatment begins here. All the major equipment is present in the hospital which makes it a necessary place.
North America is expected to amplify at a considerable CAGR
North America, Europe, Asia Pacific, the Middle East and Africa are the major regions constituting the geographical landscape of the worldwide breast cancer screening market. Among these, North America has the dominant share in the global market because of the increase in awareness about early diagnosis among women with the increase in incidence rates because of high life expectancy.
The prominent players influencing the competitive hierarchy of the global breast cancer screening market are Hologic, GE Healthcare, Siemen Healthineers, Philips Healthcare, Fujifilm, IMS Srl, Sino Medical-device.
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• Few market companies have dominated the market because of the increase in awareness among the population.
• There is also a rise in advances in screening tests that have allowed the market players to hold a substantial share.
Major questions answered in this report?
• What is the growth rate of the global breast cancer screening market?
• What are the primary growth determinants of the market?
• Which are the major regions constituting the geographical landscape of the market?
• Which are the prominent companies operating in the market?
Key takeaways from the report
• The breast cancer screening market is projected to register a CAGR of 14% over the forecast duration of 2022-2030.
• An increase in incidences and prevalence rates of breast cancer in developing countries are aiding market progression.
• The hospital segment is poised to expand significantly in the market.
• North America is anticipated to record notable gains because of the increase in awareness among women about breast cancer.
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