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Breast Cancer Diagnostics Market Growth Accelerates: Strategic Forecast Predicts $6.81 Billion by 2029
Breast Cancer Diagnostics Market
What Will the Breast Cancer Diagnostics Industry Market Size Be by 2025?
Over recent years, there has been significant growth in the size of the breast cancer diagnostics market. It is forecasted to increase from $4.68 billion in 2024 to $5 billion in 2025, representing a compound annual growth rate (CAGR) of 7.0%. This growth during the historic period can be attributed to a number of factors, including awareness and screening campaigns, advancements in technology, mammography screening, genetic testing, and a multidisciplinary approach.
What's the Long-Term Growth Forecast for the Breast Cancer Diagnostics Market Size Through 2029?
In the coming years, the market size for breast cancer diagnostics is projected to witness robust growth, eventually reaching $6.81 billion in 2029 with an 8.0% compound annual growth rate (CAGR). This expected rise in the forecast period can be allocated to factors such as personalized medicine, liquid biopsies, 3d mammography (tomosynthesis), artificial intelligence, machine learning, telemedicine, and remote consultations. The forecast period also indicates significant trends in advancements in imaging technologies, personalized medicine, liquid biopsies, artificial intelligence, and machine learning.
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What Are the Key Growth Drivers Fueling the Breast Cancer Diagnostics Market Expansion?
The accelerating prevalence of breast cancer calls for enhanced diagnostic equipment, thus escalating the breast cancer diagnostics market's needs. Annually, breast cancer, the most prevalent cancer type, affects 2.1 million women and represents the highest number of cancer-related female fatalities. The primary objective of early diagnosis is to maximize the detection rate at early stages, improving treatment effectiveness and lowering the mortality risk associated with breast cancer. In January 2022, the American Cancer Society, a US-based health establishment striving for cancer eradication, projected around 287,850 fresh invasive breast cancer cases and 51,400 DCIS cases among American women, further expecting 43,250 deaths due to breast cancer in 2022. Hence, the swelling breast cancer rates are anticipated to fuel the breast cancer diagnostics market expansion.
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What Are the Key Trends Driving Breast Cancer Diagnostics Market Growth?
The progression in technology plays a significant role in the market for breast cancer diagnostics. This has led to the invention of many novel techniques that can be employed in diagnosing and treating breast cancer. One such innovation is 3D mammography, otherwise referred to as breast tomosynthesis. This method captures images of the breast from different angles to create a three-dimensional model. In another breakthrough from September 2022, an Indian health-tech firm, Niramai, unveiled a revolutionary product known as Thermalytix, an automated tool for breast cancer screening and diagnosis, which incorporates thermal imaging and artificial intelligence.
How Is the Breast Cancer Diagnostics Market Segmented?
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 Companies Are Leading the Charge in Breast Cancer Diagnostics Market Innovation?
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.
Which Regions Are Leading the Global Breast Cancer Diagnostics Market in Revenue?
North America was the largest region in the breast cancer diagnostics market in 2024. 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
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