According to a new market research study —Breast Cancer Screening Market Forecast to 2027 – Covid-19 Impact and Global Analysis Test Type and End User—the global breast cancer screening market is expected to reach US$ 6,209.25 Mn by 2027 from US$ 4,638.63 Mn in 2019; the market is estimated to grow at a CAGR of 4.8% from 2020 to 2027. The report provides trends prevailing in the global breast cancer screening market, along with the factors driving or hindering the market growth.
Breast cancer screening plays a significant role in determining the suitable treatment procedure, along with the pace required for the same. Early detection can help in reducing the mortality rates of cancer; hence, medical professionals, market players as well as government authorities are implementing new diagnostics and treatment facilities. Thus, the rise in investments and better reimbursement policies favor the growth of the breast cancer screening market.
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In October 2019, the Breast Cancer Research Foundation (BCRF) announced US$ 66 million to fund breast cancer research for the year 2019–2020. This grant is meant to support the work of ~275 scientists at leading medical institutions and academics around the world. Additionally, according to the BCRF, research studies on breast cancer have led to 40% dip in the deaths associated with the disease. Moreover, as per the American Recovery and Reinvestment Act of 2009 (ARRA), its funding is sponsoring research to understand and address the causes of cancer health inequalities. For instance, the Howard University Cancer Center and Johns Hopkins University Cancer Center have extended their partnership to carry research on cancer screening, diagnosis, treatment, prevention, and supportive care, with a particular focus on cancer incidence among African-Americans.
On the basis of end user, the breast cancer screening market has been segmented into hospitals, diagnostic centers, cancer institutes, and research laboratories. The hospitals segment held the largest share of the market in 2019, whereas the diagnostic centers segment is estimated to register the highest CAGR in the market during the forecast period.
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Top Companies Outlook-
- General Electric Company
- Siemens Healthineers AG
- Exact Sciences Corporation
- Koninklijke Philips N.V.
- Hologic, Inc.
- Myriad Genetics, Inc.
- Oncocyte Corporation
- POC Medical Systems
The report analyzes the breast cancer screening market segmented on the basis of the following segments:
Breast Cancer Screening Market – By Test Type
- Blood Marker Test
- Imaging Test
- Genetic Test
- Immunohistochemistry Test
Breast Cancer Screening Market – By End-User
- Diagnostic Centers
- Research Laboratories
- Cancer Institutes
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