The global Breast Cancer Diagnostics Market size is expected to reach USD 6.8 billion by 2028, according to a new study by Grand View Research Inc. The market is expected to expand at a CAGR of 7.0% from 2021 to 2028. 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.
The increasing launch of predictive and companion
diagnostic tests for breast cancer is expected to boost the market growth.
Recent launches in the segment include BRACAnalysis CDx by Myriad Genetics,
which received FDA approval in 2018 as breast cancer companion diagnostics. In
May 2019, QIAGEN introduced therascreen PIK3CA RGQ PCR Kit as a companion
diagnostic for Novartis proprietary PIQRAY in guiding treatment decisions from
tissue and liquid biopsy.
In January 2019, the Fujifilm Holdings Corporation
introduced its Tomosynthesis Biopsy option for ASPIRE Cristalle mammography
system. This technique was expected to enable physicians to detect breast
cancers more efficiently compared to others by providing an enhanced 3D image
and a digital mammogram.
However, there are specific risk factors associated
with these imaging procedures. They involve administering high doses of
fluorescent and barium contrast agents, as well as radiation exposure in the
case of imaging and endoscopic procedures, which can cause several adverse
effects such as nausea or diarrhea. The risks of ionizing radiation exposure
associated with the use of CT, MRI, and X-rays, as well as the use of
radioactive tracer injections in PET can limit the adoption of such screening
procedures. Therefore, factors such as adverse effects of imaging act as a
challenge for the companies in this market.
Related Press Release@ : Breast Cancer Diagnostics Market Report
Breast Cancer Diagnostics Market
Report Highlights
- The imaging segment held the largest revenue share in 2020 and the
blood tests segment is expected to grow at the fastest rate
- By product, the instrument-based products segment accounted for the
largest revenue share in 2020 due to government initiatives such as
mandatory screening in developed countries such as the U.S., Canada, and
the U.K. for women above 45 years of age, increasing the overall testing
and screening of breast cancer
- The platform-based products segment is expected to witness the
fastest growth over the forecast period. These tests are mostly used for
assessing the efficacy of chemotherapy and targeted therapy in women
- By application, the diagnostic and predictive segment dominated the
market in 2020 and the prognostic segment is expected to witness the fastest
CAGR over the forecast period due to increasing collaborations and efforts
for advancements in diagnostics
- The hospitals and clinics segment dominated the market in 2020
- The medical labs and diagnostics centers segment is expected to
witness the fastest CAGR over the forecast period due to an increase in
platform-based testing such as NGS, and PCR
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