Rise in Incidence of Breast Cancer Expected to Drive Global Breast Cancer Diagnostics Market: Ken Research

The breast cancer is characterized by malignant tumor formed in the breast cells that can spread to other parts of the body. It is observed in females. Breast cancer is diagnosed at early stages by certain screening tests like yearly mammograms, MRI and CT scans. Symptoms of breast cancer include a change in the shape of breast, skin dimpling, and fluid leakage from the nipple, lump in a breast, patches on the skin, etc. Once the symptoms are detectable, an individual is advised to endure a diagnostic test to confirm the suspect of breast cancer. These diagnostic tests are carried out by biopsy in which a little amount of internal tissue is removed from the patient’s body & observed under the microscope to diagnose breast cancer. This method of diagnostic can be carried out with the help of various diagnostic options such as biopsy, clinical lab tests and ultrasound techniques that are available in the breast cancer diagnostic market. Additionally, breast cancer can be developed in normal individuals due to several risk factors that involve alcohol consumption, menopause, low physical exertion, obesity, family history and delivering a child at an older age.

According to study, “Global Breast Cancer Diagnostics Market to reach USD 8.5 billion by 2026” the key companies operating in the global breast cancer diagnostics market are Hologic Inc., Aurora Imaging Technology Inc., GE Healthcare, Fujifilm Holdings Corporation, Phillips Healthcare, Dilion Technologies Inc., Gamma Medica Inc., Genomic Health, Toshiba Corporation and NanoString Technologies, Inc. The leading players are implementing different business strategies for instance product development, new product launches, and research & development (R&D) activities. Companies also engage in business collaborations to commercialize their product in different countries to expand greater market share.

Based on diagnostic type, breast cancer diagnostics market is segmented as ionizing breast imaging technologies and, non-ionizing breast imaging technologies. Ionizing breast imaging technologies include analog mammography, 3D breast tomosynthesis, ionizing breast imaging technologies, Full-field digital mammography (FFDM), Positron emission tomography/ Computed tomography (PET/CT), Molecular Breast imaging/ breast specific gamma imaging (MBI/BSMI) and others. Non-ionizing imaging technologies include breast ultrasound, Breast MRI (Magnetic Resonance Imaging), Automated Whole Breast Ultrasound (AWBU), breast ultrasound, breast thermography and optical imaging. In addition, based on end-user, market is segmented as diagnostic clinical laboratories, hospitals, ambulatory surgical centers and cancer research centers/ institutes.

The breast cancer diagnostics market is driven by increase in number of breast cancer screening programs, followed by rise in incidence of breast cancer and favorable reimbursement framework for breast cancer diagnosis. However, increase in regulatory issues, high installation cost of devices and side effects of radiation may impact the market.

Based on geography, the North-American region holds major share in global breast cancer diagnostics market owing to high patient awareness and early adoption of technologically advanced imaging systems in the region. Whereas, the European and Asian-Pacific regions are estimated to witness higher growth rate due to increase in incidence of breast cancer coupled with rapidly improving healthcare infrastructure over the forecast period. In upcoming years, it is predicted that future of the global market will be optimistic as a result of well-established diagnostic infrastructure during the forecast period. The global breast cancer diagnostics market is valued approximately US $5.0 billion in 2019 and is estimated to grow with a healthy growth rate of more than 7.8% over the forecast period 2020 to 2026.

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Global Breast Cancer Diagnostics Market

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