Breast Cancer Diagnostics Industry Analysis with Growth Forecast during 2017-2022
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7 Estimations for the Global Breast Cancer Diagnostics Market
1. By test type, BRCA will remain dominant in the global breast cancer diagnostics market.
2. CA test for diagnostics of breast cancer is expected to register the highest CAGR through 2022 in the market, followed by ER & PR. Revenue from ER & PR, and CA tests will continue to be low throughout the forecast period.
3. HER 2 test is expected to remain the second largest segment among test type, in the market. However, EGFR mutation test is estimated to account for low revenues in the global market for breast cancer diagnostics.
4. North America will continue to be the largest market for breast cancer diagnostics. Revenues from breast cancer diagnostics market in North America is estimated to surpass US$ 800 Mn by 2022-end.
5. Europe will remain the second most lucrative region for the breast cancer diagnostics market. However, markets in Japan, and Middle East & Africa (MEA) are anticipated to witness a sluggish expansion throughout the forecast period.
6. Hospital-associated labs will remain sought-after among end-users for breast cancer diagnostics around the world. Revenues from breast cancer diagnostics will remain largest in hospital-associated labs, followed by the independent diagnostic laboratories.
7. Cancer research institutes are anticipated to exhibit the highest CAGR during the forecast period. Between 2017 and 2022, cancer research institutes are estimated to create absolute $ opportunity of US$ 107.3 Mn.
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 to Remain the Largest End-Users in Breast Cancer Diagnostics Market
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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