New York, Nov. 25, 2020 (GLOBE NEWSWIRE) -- Growing awareness for early detection of breast cancer is one of the significant factors influencing the market growth.
Market Size – USD 4,955.1 Million in 2019, Market Growth - CAGR of 7.3%, Market Trends –Increased investment in the field of breast imaging.
The global breast cancer diagnostics market is forecasted to reach USD 8,738.9 Million by 2027, according to a new report by Reports and Data. The breast cancer diagnostics market is observing high growth due to the growing awareness for the early detection of breast cancer. Detection of cancer at an early stage significantly increases the chances for survival. Creating awareness to encourage early diagnosis and screening are the crucial steps responsible for early detection of breast cancer. Identifying likely warning symptoms of cancer and taking rapid measures is necessary for early diagnosis. Greater awareness of probable symptoms of cancer amongst physicians, nurses, and other healthcare providers, in addition to the general public, would positively impact the survival rate and hence would be instrumental in increasing the market demand.
The COVID-19 impact
The COVID-19 pandemic has made it essential to repurpose the operating rooms for surgeries into intensive care units (ICUs) and pushed hospitals to accommodate patients beyond their full capacity of beds. A low count of early diagnostics of new breast cancer cases are being observed, and also a rise in the number of cases is predicted as the effect of the pandemic is reduced, along with a greater number of advanced breast cancer incidences that may be inoperable. COVID-19 has had a significant and negative impact on cancer treatment and research, making a new health emergency for cancer patients’ management a necessity.
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Further key findings from the report suggest
- Technological advancements, including ABUS (automated breast ultrasound), continue to increase the workflow and precision of ultrasound breast diagnostics. ABUS decreases the dependency on operator and time that is required for conventional ultrasound diagnostic process, which deploys a transducer to make a quick automatic scan of the breast and obtains volumetric image datasets to address challenges about dense, overlapping tissue.
- Developing ancillary diagnostic technologies, such as breast magnetic resonance imaging (MRI), is a technology that is used for women who are at very high risk for breast cancer, beyond percentages that one can measure, is expected to propel the growth of the market in the forecast period.
- In the U.S., there has been a substantial push in legislation to mandate the reporting of breast density; thus, this movement is expected to be beneficial to the health of the women in the country.
- There have been several advancements in the field of breast imaging to prevent over-diagnosis and offer improved sensitivity to detect minor carcinomas. These constant advancements in this field are anticipated to enhance the mammography segment of the worldwide market for breast cancer screening tests.
- The market in the Asia Pacific region is projected to grow at the fastest rate in the forecast period attributed to the presence of a large pool of patients, growing awareness about disease diagnostics, and improving healthcare infrastructure in the region.
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/breast-cancer-diagnostics-market
For the purpose of this report, Reports and Data has segmented into the global breast cancer diagnostics market on the basis of test type, breast cancer type, end-user, and region:
- Test Type Outlook (Revenue, USD Billion; 2017-2027)
- Imaging
- Biopsy
- Genomic Test
- Blood Test
- Others
- 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 & Clinics
- Diagnostic Centers
- Research Institutes
- Others
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- Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- Rest of APAC
- MEA
- Saudi Arabia
- UAE
- Rest of MEA
- Latin America
- Brazil
- Rest of LATAM
- North America
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