As per our research report, between 2022 to 2027, the global breast cancer screening market is expected to rise at a CAGR of 5.22%, from USD 1722 million in 2022 to USD 2200.88 million in 2027.
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World Health Organization has designated o the COVID-19 outbreak as a pandemic. A slew of established pharmaceutical and biopharmaceutical firms and small start-ups have hurried to create medicines and vaccinations to tackle the virus. The COVID-19 pandemic has wreaked havoc on hospital resources around the world. This was accomplished mainly by dramatically reducing inpatient and outpatient care for a range of illnesses and implementing infection prevention and control measures. As cancer has expanded worldwide, the number of cancer screenings and diagnostic therapy has reduced substantially.
The COVID-19 epidemic is wreaking havoc on death and morbidity rates. The outages are expected to linger for a long time, making it impossible to obtain critical cancer-related services. Breast cancer must be detected and treated early to improve survival and long-term quality of life. However, with population breast mammography screening, attempts to detect and treat breast cancers early have been delayed or reduced in many contexts. Efforts to detect and treat breast cancers early have been delayed or reduced in many settings. The CCGMC Working Group 2 (Breast Cancer) will conduct analysis and modeling studies to inform key stakeholders’ recovery activities to mitigate the pandemic’s impact on early breast cancer diagnosis and treatment.
The global breast cancer screening market is growing due to rising awareness about early breast cancer diagnosis, rising incidence of breast cancer, and increased government efforts and assistance.
Early detection of breast cancer leads to better outcomes, including a greater survival rate, more treatment options, and a higher quality of life. Breast cancer screening tests are in high demand due to the growing need for these tests in developing and developed countries, propelling the market forward. Furthermore, the rising prevalence of breast cancer will entail purchasing more diagnostic equipment, increasing demand for breast cancer screening.
As reimbursement and insurance coverage expands, the use of testing is expected to grow. Several tests have been approved for payment by government agencies worldwide. In addition, technological advancement is a prominent trend in the breast cancer diagnostics market. Several unique approaches have been developed that may be useful in detecting and treating breast cancer. For example, breast tomosynthesis, or 3D mammography, takes images of the breast from different angles and turns them into a 3-D model.
Breast cancer can be detected early, leading to better results such as a higher survival rate, more treatment options, and a higher quality of life. In addition, the rising incidence of breast cancer will aid market growth over the predicted period. According to Breastcancer.org, one in every eight US women (about 12.4%) will get invasive breast cancer over their lifetime. In the United States alone, women are estimated to be diagnosed with 276,480 new instances of invasive breast cancer and 48,530 new cases of non-invasive breast cancer in 2020. In addition, breast cancer screening tests are in higher demand as the need for them develops in both developing and developed countries, leading to market expansion.
However, the high cost of identifying breast cancer makes it a distant alternative, limiting breast cancer screening market growth. In addition, fear, embarrassment, breast cancer views and beliefs, lack of motivation, lack of education, socioeconomic status, and unpleasant experiences are hurdles in the breast cancer screening market.
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KEY MARKET INSIGHTS:
The worldwide breast cancer screening market is expected to dominate the imaging tests sector during the projected period. An imaging test is the most common breast cancer screening test, and these imaging tests are also the most reliable. As a result, mammograms are the most often utilized diagnostic tool for breast cancer screening. Governments and other healthcare organizations worldwide are working to make mammography screening available to women aged 50 to 75 because it is the gold standard procedure for identifying breast cancer. This is driving up demand for mammography and laboratory and blood testing, and other imaging treatments worldwide.
North America presently controls the breast cancer screening test market and is anticipated for several more years. The United States maintains the most significant market share in the North American area. This is primarily due to increased breast cancer incidence rates and public awareness of the need for early cancer detection. In addition, the market in the United States is likely to be propelled by the presence of well-developed healthcare infrastructure.
The rising prevalence of breast cancer increases government initiatives and support, and technical improvements are driving the growth of the North American breast cancer screening tests market.
In North America, breast cancer is the leading cause of cancer-related death among women. According to the American Cancer Society, women were diagnosed with 252,710 new cases of invasive breast cancer in 2017. Sixty-three thousand four hundred ten in situ breast cancer incidences were also discovered in women. In 2017, 40,610 women and 460 men died of breast cancer, with many cases expected to climb in the coming years. Breast cancer is projected to become more common in the coming years. As a result, the increased incidence of breast cancer is a significant driver of market revenue growth. Because of the aforementioned factors, the market is likely to grow rapidly throughout the forecast period.
During the projected period, the breast cancer screening test market in Europe is expected to grow at a CAGR of 4.1 percent. The market is growing due to increased awareness of early breast cancer detection, rising breast cancer incidence, and expanded government programs and assistance. As a result, breast cancer can be detected early, leading to better outcomes, such as a higher survival rate, more treatment options, and a higher quality of life. Furthermore, during the forecast period, the rising prevalence of breast cancer will support market expansion. Breast cancer is the most frequent cancer in European women, according to EUROPA DONNA, The European Breast Cancer Coalition, with an incidence of 562,500 cases in 2018, and 1 in every 8 women in the EU-28 will develop breast cancer by the age of 85. As a result, many women are affected by breast cancer during their years of working and having a family, which is expected to fuel the market growth during the projection period.
With several significant competitors, the market for breast cancer screening tests is moderately competitive. A few prominent players now dominate the market in terms of market share. However, with increased public awareness and technological developments in screening tests, a few smaller rivals are expected to enter the market and capture a significant industry share. The market’s major companies are Allengers, Biocrates Life Sciences AG, Myriad Genetics, Hologic Inc., and Siemens Healthineers.
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SEGMENTS ANALYZED UNDER THIS REPORT:
- Genomic Tests
- Blood Tests
- Platform-based Products
- Next-generation Sequencing
- Instrument-based Products
- Diagnostic and Predictive
- Hospitals & Clinics
- Diagnostic Centers and Medical Laboratories
- North America
- Latin America
- Asia Pacific
- Middle East & Africa
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