Breast Cancer Diagnostics Market (By Product: Imaging, Biopsy, Genomic Tests, Blood Tests, Others; By Product: Platform-based Products, Instrument-based Products; By Application: Screening, Diagnostic and Predictive, Prognostic, Research; By End-use: Hospitals & Clinics, Diagnostic Centers and Medical Laboratories, Others) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook 2021 – 2030

Published Date : Aug 2021 | No. of Pages : 250 Pages | Category : Healthcare

 

The global Breast Cancer Diagnostics market size is expected to be worth around US$ 8.8 billion by 2030, according to a new report by Vision Research Reports.

The global Breast Cancer Diagnostics market size was valued at US$ 4.9 billion in 2020 and is anticipated to grow at a CAGR of 8.0% during forecast period 2021 to 2030.

Growth Factors

 The growth is largely attributable to the increasing geriatric population exposed to the risk of breast cancer and early detection coupled with increasing awareness about breast cancer.

The introduction of 3D mammography or digital breast tomosynthesis, which is more accurate than 2D mammography, supports market growth. This advanced technology can detect 40.0% more cancers than 2D mammograms and reduce patient recalls. Rapid technological advancements are a major factor expected to drive the market over the coming years.

Companies are adopting strategies that allow them to use their resources to aid in the development of new products, as well as enhance their supply chain. In November 2019, Exact Sciences Corporation announced the acquisition of Genomic Health, which was expected to help enhance the company’s market position and offerings by acquiring its product portfolio. In January 2021, Hologic Inc. announced that it has agreed to acquire Biotheranostics for approximately US$ 230 million. Biotheranostics is a commercial-stage molecular diagnostics provider for breast and metastatic cancers.

Report Highlights

The instrument-based testing segment dominated the market for breast cancer diagnostics and accounted for the largest revenue share of 77.7% in 2020. Imaging is the first choice for general population-based screening of breast cancer patients. A biopsy is performed for a confirmed diagnosis in all breast cancer patients. Many organizations such as the National Breast Cancer Foundation, Inc. are undertaking initiatives to spread awareness regarding breast cancer, the benefits of early detection, and available treatment options.

 The diagnostics and predictive application segment dominated the market for breast cancer diagnostics and accounted for the largest revenue share of around 49.6% in 2020. The increasing trends of genetic testing may further contribute to the growth of the segment. An article suggests that around 26% of the women had genetic testing for cancer in 2020. Moreover, advancements in this field such as the development of biomarkers may support the growth of the market for breast cancer diagnostics.

The prognostic segment is expected to witness a significant CAGR over the forecast period. These tests are becoming increasingly important as they are being used to match patients with therapies. This, in turn, increases the survival rate of the patients substantially. 

The hospitals and clinics segment dominated the market for breast cancer diagnostics and accounted for the largest revenue share of around 55.2% in 2020. The increasing hospitalization of patients and the growing burden of the disease are expected to propel the growth of the segment. After the screening test, patients undergo biopsy for confirmatory testing in hospitals. Moreover, PET, CT, and MRI are used for checking disease progression and for the assessment of the effectiveness of cancer treatment.

The diagnostic centers and medical laboratories segment is expected to witness a significant growth rate over the forecast period due to an increase in the number of initiatives undertaken by governments to provide various services, such as reimbursement for diagnostic tests. Many healthcare institutions are working with laboratories to integrate different tests, such as mammography, ultrasound, and MRI.

The imaging segment dominated the market for breast cancer diagnostics and accounted for the largest revenue share of 75.6% in 2020. The factors such as the large volume of procedures, easy accessibility, and enhanced effectiveness are anticipated to drive the market. The blood tests segment is projected to be the fastest-growing segment during the forecast period due to several research studies being carried out globally by the research organizations and major players. The high efficacy of liquid biopsy tests is expected to drive the growth of the blood tests segment. As per a research published by the American Association for Cancer Research in April 2020, DNA blood tests are effective in the early diagnosis of breast cancer.

The blood test analyzes very small amounts of tumor DNA, called circulating tumor DNA, floating in the bloodstream. Researchers at MSK have found mutations in two extra genes PTEN and ESR1, that foster resistance to estrogen-blocking drugs using the liquid biopsy.

North America dominated the breast cancer diagnostics market and accounted for the largest revenue share of 46.9%, in 2020. The major factors contributing to the dominance of this region are the presence of major players, well-established diagnostic and screening infrastructure, technological advancements, high patient awareness, and favorable reimbursement policies.

In Asia Pacific, the market for breast cancer diagnostics is expected to witness the highest CAGR during the forecast period owing to the increasing incidence of breast cancer and the adoption of advanced diagnostic techniques. Additionally, the improving reimbursement guidelines and rising healthcare infrastructure are also expected to support market growth.

Key Players 

  • Hologic Inc.

  • Genomic Health (Exact Sciences Corporation)

  • BD

  • Danaher

  • Koninklijke Philips N.V.

  • QIAGEN

  • Thermo Fisher Scientific Inc.

  • Myriad Genetics

  • Argon Medical Devices, Inc.

  • F. Hoffmann-La Roche Ltd.

Market Segmentation

  • Type Outlook 

    • Imaging

    • Biopsy

    • Genomic Tests

    • Blood Tests

    • Others

  • Product Outlook 

    • Platform-based Products

      • Next-generation Sequencing

      • Microarrays

      • PCR

      • Others

    • Instrument-based Products

      • Imaging

      • Biopsy

  • Application Outlook 

    • Screening

    • Diagnostic and Predictive

    • Prognostic

    • Research

  • End-use Outlook 

    • Hospitals & Clinics

    • Diagnostic Centers and Medical Laboratories

    • Others

  • Regional Outlook 

    • North America

      • U.S.

      • Canada

    • Europe

      • U.K.

      • Germany

      • France

      • Spain

      • Italy

    • Asia Pacific

      • Japan

      • China

      • India

      • South Korea

    • Latin America

      • Brazil

      • Mexico

    • Middle East & Africa

      • South Africa

      • Saudi Arabia

The Breast Cancer Diagnostics market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.

The report provides size (in terms of volume and value) of Breast Cancer Diagnostics market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.

This report focuses on the global Breast Cancer Diagnostics market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Breast Cancer Diagnostics market development in United States, Europe and China.

It is pertinent to consider that in a volatile global economy, we haven’t just conducted Breast Cancer Diagnostics market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.

In terms of production side, this report researches the Breast Cancer Diagnostics capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.

In terms of consumption side, this report focuses on the consumption of Breast Cancer Diagnostics by regions (countries) and application.

Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Breast Cancer Diagnostics market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.

With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Breast Cancer Diagnostics market companies.

Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Breast Cancer Diagnostics market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.

The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.

Overall, this is an in-depth research report specifically for the Breast Cancer Diagnostics industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.

Breast Cancer Diagnostics market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Breast Cancer Diagnostics market.

Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Breast Cancer Diagnostics market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.

Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Breast Cancer Diagnostics market. These factors have benefited the growth of the global market for Breast Cancer Diagnostics. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.

New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Breast Cancer Diagnostics. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).

In this study, the years considered to estimate the market size of Breast Cancer Diagnostics are as follows:

  • History Year: 2017-2020
  • Base Year: 2021
  • Forecast Year 2021 to 2030

Reasons to Purchase this Report:


- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Research Methodology:

In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

Market Size Estimation

Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).

The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.

Market Breakdown and Data Triangulation

After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.

Secondary Sources

Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.

Primary Sources

In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.

The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.

The study objectives of this report are:

  • To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2030);
  • Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • To define, describe and forecast the market by type, application and region.
  • To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
  • To identify significant trends and factors driving or inhibiting the market growth.
  • To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
  • To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
  • To strategically profile the key players and comprehensively analyze their growth strategies.

 


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