Breast Cancer Diagnostics Market is estimated to be US$ 9.10 billion by 2032 with a CAGR of 7.5% during the forecast period 2032

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Published Date: May 2023

Breast Cancer Diagnostics Market accounted for US$ 4.5 billion in 2022 and is estimated to be US$ 9.10 billion by 2032 and is anticipated to register a CAGR of 7.5%. Breast Cancer occurs when some breast cells started growing abnormally. The breast cells divide more rapidly than healthy cells and started accumulating by forming lump. These cancerous cells spread through the breast to lymph nodes and other parts of body. Breast cancer are also known as ductal or lobular carcinoma which are tumors started in epithelial cells that lines organs and tissues throughout the body. Mammogram is an X-ray of breast commonly used in screening for breast cancer. Breast ultrasound is used in determining new breast lump, solid mass or fluid-filled cyst. Biopsy is removing sample of breast cells for testing. Biopsy sample is also analyzed in determining aggressiveness of cancer, types of cells involved in cancer, also it determines whether cancer cells has hormone receptors or other receptors. Breast Magnetic Resonance Imaging (MRI) is machine which uses radio waves and magnet for creating pictures of inner part of breast. MRI didn’t use any radiation for creating images. Staging breast cancer includes test and procedures like CBC (complete blood count, Mammogram for detecting signs of cancer, Breast MRI, Bone scan, CT scan (Computerized Tomography), PET scan (Positron Emission Tomography), etc. Based on specific symptoms experienced by an individual these test and procedures are recommended by doctor. Most women with breast cancer undergoes surgery and additional treatment after surgery like hormone therapy, radiation and chemotherapy. Breast cancer surgery includes lumpectomy in which tumor is removed. It is recommended for removing smaller tumors. Mastectomy is an operation in which all breast tissues like ducts, fatty tissues, lobules, nipple are removed. Radiation therapy is given after mastectomy of large breast cancers. Chemotherapy is given before surgery in women with larger breast tumors, it helps in shrinking tumor to a size which will make easy for surgeon for removing tumor. Hormone therapy are used in treating breast cancers which are sensitive to hormones. These cancers are referred by doctor as ER positive cancer (estrogen receptor positive) and PR positive cancers (progesterone receptor positive). However, growth in breast cancer and newly diagnostic methods has fueled the Breast Cancer Diagnostics growth.

The report “Breast Cancer Diagnostics Market, By Test (Mammogram, Blood Test, Breast Magnetic Resonance Imaging (MRI), Biopsy, Breast Ultrasound, and Others), By Application (Research, Screening, Prognostic, and Others), By End-Users (Clinics, Hospitals, Medical Laboratories, Diagnostic Centers, and Others) and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2032”

Key Highlights:

In 2022, National Cancer Institute (NCI) is funding randomized breast screening trial on a large scale. The TMIST (Tomosynthesis Mammographic Imaging Screening Trial) is compared with number of advanced cancers detected in women which are screened for five years with 3D mammography with number of detected breast screening in women with 2D mammography.
In 2022, Niramai has launched innovative technology in breast cancer screening facility in Kerala which is Artificial Intelligence-based ‘Thermolytix Solution’ used in early detection of breast cancer. Newly innovative technology is an automated breast health screening and diagnostic tool. It combines thermal imaging with artificial intelligence. This new technology is non-invasive, privacy sensitive and highly accurate which helps to detect minutest of lumps, abnormalities in women of 18 years age and above.
In 2022, Paige has launched new AI-based diagnostic software which helps in detecting breast cancer that has spread to the lymph nodes. Newly launched software will help pathologists in detecting breast cancer which has spread to lymph nodes.

Analyst View:

Incidence of breast cancer is increasing due to rapid urbanization which has led to pollution in urban areas, unhealthy lifestyle, poor nutrition, smoking, alcohol intake, lack of physical activity, etc. Among different types of cancer breast cancer has shown higher percentile growth. According to American Cancer Society, in 2021 around 281,550 women are projected to be diagnosed with breast cancer and around 43,600 women are predicted to die in due to breast cancer. New innovation in technology has enabled in early detection and screening of breast cancer among women. Newly advancement like 3D mammography has created new opportunities in improvement of early detection of breast cancer. However, new innovations in early detection may help in reducing mortality rate caused due to breast cancer. Thus, rising incidence of breast cancer, awareness of early diagnosis among women, rise in diagnostic centers, has given positive impact and is expected to boost the growth in Breast Cancer Diagnostics Market till forecast period. As a result, market competition is intensifying, and both big international corporations and start-ups are vying to establish position in the market.

***Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on“Breast Cancer Diagnostics Market, By Test (Mammogram, Blood Test, Breast Magnetic Resonance Imaging (MRI), Biopsy, Breast Ultrasound, and Others), By Application (Research, Screening, Prognostic, and Others), By End-Users (Clinics, Hospitals, Medical Laboratories, Diagnostic Centers, and Others) and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2032”***

Key Market Insights from the report:

Breast Cancer Diagnostics Market accounted for US$ 4.5 billion in 2022 and is estimated to be US$ 9.10 billion by 2032 and is anticipated to register a CAGR of 7.5%. The Breast Cancer Diagnostics Market is segmented based on Test, Application, End-Users and Region.

Based on Test, Breast Cancer Diagnostics Market is segmented into Mammogram, Blood Test, Breast Magnetic Resonance Imaging (MRI), Biopsy, Breast Ultrasound, and others.
Based on Application, Breast Cancer Diagnostics Market is segmented into Research, Screening, Prognostic, and others.
Based on End-Users, Breast Cancer Diagnostics Market is segmented into Clinics, Hospitals, Medical Laboratories, Diagnostic Centers, and others.
By Region, the Breast Cancer Diagnostics Market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East & Africa.

Competitive Landscape & their strategies of Global Breast Cancer Diagnostics Market:

The prominent players operating in the Breast Cancer Diagnostics Market includes, QIAGEN, Danaher Corporation, Myriad Genetics Inc., Quest Diagnostics Incorporated, NanoString, Hologic Inc., Argon Medical Devices Inc., Thermo Fisher Scientific Inc., F. Hoffman-La Roche Ltd., GE Healthcare and others.

The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.

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Some Important Points Answered in this Market Report Are Given Below:

Explains an overview of the product portfolio, including product development, planning, and positioning
Explains details about key operational strategies with a focus on R&D strategies, corporate structure, localization strategies, production capabilities, and financial performance of various companies.
Detailed analysis of the market revenue over the forecasted period.
Examining various outlooks of the market with the help of Porter’s five forces analysis, PEST & SWOT Analysis.
Study on the segments that are anticipated to dominate the market.
Study on the regional analysis that is expected to register the highest growth over the forecast period