Breast Cancer Diagnostics Market is Set to Globally Reach US$7.9 Billion at 7% CAGR by 2032

According to a recent Fact.MR analysis, the global Breast Cancer Diagnostics market is expected to increase at a compound annual rate (CAGR) of 7% from 2022 to 2032. The market is predicted to reach $7.9 billion by the end of 2032.

The industry is expected to benefit significantly from technical advancements in diagnostic platforms. The introduction of hybrid imaging tools and the application of artificial intelligence in the sector are projected to have a beneficial impact on the breast cancer diagnostics market. Furthermore, rising rates of breast cancer among the elderly female population are driving market expansion.

Historically, from 2017 to 2021, demand for breast cancer diagnostics increased at a CAGR of 6%. Coronavirus became a global pandemic in the first quarter of 2020, wreaking havoc on healthcare systems around the world. Every country had to rethink its healthcare plans, which resulted in significant adjustments all across the world. With the rising prevalence of cancer cases around the world, the general public's desire for effective breast cancer treatment and diagnosis has increased, and governments are focusing on delivering these solutions in a cost-efficient manner.

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Breast cancer diagnostics providers are concentrating on developing novel instruments and techniques to aid in the early diagnosis of breast cancer, which is critical for optimal disease management. Investments in research are also expected to expand significantly over the next ten years, with an emphasis on treating and combating breast cancer.

Is early detection driving up demand for breast cancer diagnostics?

Breast cancer cases are quickly increasing worldwide, and it is expected to become the most frequent type of cancer by 2021. Early detection of breast cancer tumours is one of the biggest obstacles in diagnosis and therapy, as they are usually discovered after they have progressed to an advanced stage.

The need for early identification of breast cancer is increasing dramatically as people seek more efficient diagnostic options to successfully treat the disease. Imaging and screening, in addition to other breast cancer detection procedures, have grown in popularity significantly. Breast cancer screening is considered useful, but several approaches are still being contested as to their safety and accuracy for long-term use.

Breast cancer diagnostic PCR testing, breast cancer biopsy, and the use of microarrays in breast cancer diagnostics are among the developments that are likely to emerge during the next decade.

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Key players in the Breast Cancer Diagnostics Market

Bio-Rad Laboratories Inc.
Illumina Inc.
Biocept Inc.
Epigenomics AG
AstraZeneca plc
Myriad Genetics Inc.
Quest Diagnostics Incorporated

Competitive Landscape

Leading vendors of breast cancer diagnostics are working to provide diagnostic technologies that allow for early diagnosis of breast cancer. Key market competitors are also investing in the research and development of diagnostic solutions that are quick, accurate, and cost effective.

Shri M. Venkaiah Naidu, Vice President of India, will launch the Ushalakshmi Breast Cancer Foundation's first-ever breast cancer hotline in September 2021. This is a new step in the nation's efforts to raise awareness about breast cancer.
Elizabeth Hurley, an actress and model, will open a cancer support center in London in September 2021, ahead of Cancer Awareness Month. The support center was called Future Dreams House.
In October 2021, WellSpan Health and Capital Blue Cross collaborated to introduce a mobile mammography motor coach to raise breast cancer awareness, in line with their aim of increasing breast cancer screening across five countries.

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Key Segments Covered in the Breast Cancer Diagnostics Industry Survey

By Test Type

CA Tests for Breast Cancer
BRCA Test for Breast Cancer
ER & PR Test for Breast Cancer
CEA Test for Breast Cancer
KRAS Mutation Test for Breast Cancer
HER 2 Test for Breast Cancer
PSA Test for Breast Cancer
EGFR Mutation Test for Breast Cancer
Immunohistochemistry for Breast Cancer
Others
By End User

Hospital Associated Labs
Independent Diagnostic Laboratories
Cancer Research Institutes
Others

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