Breast Cancer Diagnostics Market Analysis, Segments, Size, Share, Industry Growth and Recent Trends by Forecast to 2027
One of the major factors influencing the growth of the market is the increase in breast cancer occurrences
NEW YORK, NY, UNITED STATES, Nov. 26, 2021 /EINPresswire.com/ – Global breast cancer diagnostics market is expected to reach $ 8,738.9 million by 2027, according to a new report from Reports and Data . The breast cancer diagnostics market is experiencing strong growth due to the increase in the number of breast cancer cases around the world. Breast cancer is the most common type of cancer in women. There were more than 2 million new cases of breast cancer in 2018. Belgium, Luxembourg and the Netherlands are the countries with the highest rates of occurrence of breast cancer in 2018 across the world. According to estimates from World Health, WHO 2013, it is expected that more than 508,000 women died in 2011 due to breast cancer. It has been found that about 50% of breast cancer cases and almost 58% of deaths occur in less developed economies compared to developed economies. Global survival rates for the disease vary widely, ranging from around 80% in North America, Japan and Sweden to almost 60% in middle-income countries and below 40% in low-income countries. Hence, the implementation of breast diagnostics to screen and detect malignant cells in human breast is driving the market growth.
The impact of COVID-19
The COVID-19 pandemic has made the reallocation of operating rooms for intensive care unit (ICU) surgeries essential and has pushed hospitals to accommodate patients beyond their full bed capacity. As a result, in several cases, breast cancer patients were classified as elective. In addition, the psychological influence of postponing the diagnosis of cancer due to the COVID-19 pandemic cannot be compromised, because when the psychological, physical and social health of patients is positively managed, the chances of survival of patients. patients improved from illness to recovery from illness. COVID-19 has had a significant and negative impact on cancer treatment and research, making a new health emergency for the management of cancer patients a necessity.
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Some of the key companies operating in the global Breast Cancer Diagnostics market are:
Myriad Genetics Inc., Hologic Inc., Danaher Corporation, CR Bard Inc., Genomic Health, NanoString Technologies Inc., Becton, Dickinson, and Company, Koninklijke Philips NV, Devicor Medical Products Inc. and Abbott Laboratories, among others.
The pharmaceutical and healthcare sector has grown rapidly in recent times and is expected to register a substantial share of revenue during the forecast period of 2028. Factors such as technological developments in healthcare and pharmaceuticals , improving healthcare infrastructure and increasing healthcare spending are key factors driving the growth of the market. Market dynamics changed completely after the outbreak of the COVID-19 pandemic. The increasing prevalence of various chronic diseases, the high frequency of diabetes, cancer, and cardiovascular disorders, and the increasing number of accidents across the globe are fueling the growth of the global breast cancer diagnostics market. In addition, increased investment in research and development activities, massive adoption of customized drugs, and ongoing drug discovery research are further driving the market growth.
The report is organized using extensive primary and secondary research that is carefully evaluated by experts and industry professionals. Advanced analytical tools such as SWOT analysis, Porter’s five forces analysis, and ROI analysis are used to obtain the data for the report. This data is represented by various charts, graphs, tables and charts to help the reader to accurately understand the market dynamics. The report also provides information on each market player, their global position, the financial status of the business expansion plan, the license agreement, and the product and service portfolio.
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Other key findings from the report suggest
• Mammography contributed to a significant market share in 2019. Mammography screening can often detect cancers at an early stage of development, as treatment can be performed without chemotherapy.
• The market is dominated by the female population, with male patients contributing less than 1.0% market share in 2019
• Hospitals dominated the breast cancer diagnostics market in 2019. Factors include well-resourced operating and diagnostic rooms, higher purchasing power, existence of highly skilled healthcare professionals and improved health coverage for inpatient health services from several private and group insurance plans, among others, are responsible for the high market share of hospitals.
• North America contributed the largest breast cancer diagnostics market share in 2019. Market dominance is due to greater acceptance of advanced technologies, well-established healthcare diagnostic facilities , the increasing incidence of the disease and the implementation of numerous initiatives to increase awareness of the disease in the region.
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For the purpose of this report, Reports and Data has segmented the global breast cancer diagnostics market on the basis of test type, breast cancer type, end-user, and region:
Outlook Test Type (Revenue, USD Billion; 2017-2027)
• Genomic test
• Blood test
Breast Cancer Type Outlook (Revenue, USD Billion; 2017-2027)
• Ductal carcinoma in situ
• Invasive ductal carcinoma
• Inflammatory breast cancer
• Metastatic breast cancer
End User Outlook (Revenue, USD Billion; 2017-2027)
• Hospitals and clinics
• Diagnostic centers
• Research institutes
• North America (United States, Canada, Mexico)
• Europe (Italy, United Kingdom, Germany, France, rest of Europe)
• Asia-Pacific (India, China, Japan, South Korea, Australia, rest of APAC)
• Latin America (Chile, Brazil, Argentina, Peru, rest of Latin America)
• Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa, rest of MEA)
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