The global breast cancer screening market the size should to be $5.2 billion in 2021 and reach $8.43 billion in 2027, registering a CAGR of 8.4% during the forecast period, 2021-2027. Breast cancer remains the most commonly seen type of cancer worldwide and one of the major diseases affecting women aged 50-70, underscoring the critical need for effective breast cancer screening. Women are increasingly aware of the signs and symptoms of breast cancer, coupled with knowledge of how early screening and diagnosis can prevent further adverse episodes. This is expected to be among the key drivers for market growth over the forecast period. In the wake of an alarming rate of cancer prevalence, governments around the world have taken multiple initiatives towards effective screening, diagnosis and treatment, which will strongly support the growth of the cancer market. breast cancer screening. Imaging tests are currently all the rage in the global breast cancer screening market.
Key factors to consider shaping the breast cancer screening industry during the forecast period
Factors such as increasing healthcare expenditures in developing countries, high prevalence of breast cancer and growing awareness of growing health issues among patients are expected to drive the growth of the global breast cancer screening market. The American Cancer Society estimates that more than 280,000 new cases of breast cancer will be diagnosed in 2021 alone. Additionally, nearly 50,000 breast cancer-related deaths have been anticipated in the United States alone. The WHO also points out that breast cancer prevails as the most common type of cancer in the world, expecting a massive increase in prevalence and mortality. Breast cancer screening is therefore expected to remain in demand throughout the forecast period.
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As the market witnesses the introduction of innovative and technologically advanced screening products targeting faster, more accurate and more cost-effective results, the breast cancer screening market is expected to witness strong growth prospects. The introduction of direct-to-consumer (DTC) testing in the field of cancer diagnosis by 23andMe (2018) is likely to be largely responsible for the growth of the market. Favorable reimbursement scenarios and improved insurance coverage, especially in developed Western regions, will increase the adoption rate of breast cancer screening. The development of new screening tests and procedures such as physical tests, laboratory tests, imaging tests and genetic tests has had a positive impact on the demand for breast cancer screening in the healthcare and pharmaceuticals globally.
The various initiatives taken by governments and private medical institutions and non-governmental/public organizations to promote breast cancer awareness are likely to be a significant factor in supporting the growth of the market. The high cost of screening tests and the strict regulations regarding the approval of screening equipment may limit the adoption of breast cancer screening tests to some extent.
Impact of COVID-19 on the Breast Cancer Screening Market
The global COVID-19 pandemic has suddenly increased the burden on the health system, causing pressure on health services for a period of more than a year. During this critical period, breast cancer diagnosis, including mammography screening and treatment procedures, have been suspended or taken with reduced capacity or delayed. This had a major negative impact on the breast cancer screening market throughout 2020. Moreover, the scenario further resulted in delayed diagnosis and treatment of breast cancer, potentially resulting in intensive treatment needs sooner or later and even an increase in the related mortality rate in the worst cases.
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The report depicts the global Breast Cancer Screening market study based on type and end-user.
The breast cancer screening market has been segmented on the basis of type of test –
- Physical tests
- Laboratory tests
- Imaging exams
- Genetic tests
The breast cancer screening market has been segmented on the basis of end user –
- Research laboratories
- Cancer institutes
- Diagnostic centers
Breast Cancer Screening Market Regional Outlook
Based on region, the global breast cancer screening market has been segmented into five geographical regions, namely North America, Asia-Pacific, Europe, South America, Middle- East and Africa. In 2020, North America held the largest breast cancer screening market share, followed by Asia-Pacific. Europe also remains an important market due to growing healthcare spending and technological advancements in the region. Moreover, Asia-Pacific is expected to project the highest CAGR in the world during the forecast period owing to the rapidly changing medical structure and increasing healthcare expenditure in the region.
Major competitors in the global breast cancer screening market include
The breast cancer screening market is highly fragmented, with the presence of a large number of small players across the globe. Vital Manufacturers of Breast Cancer Screening Market operating in the global market are-
- Siemens Health
- Allengers Infotech
- Hologic, Inc.
- A myriad of genetics
- Metabolomic Technologies Inc.
- Biocrates LifeSciences SA
- A&G Pharmaceuticals
- Provista Diagnostics, Inc.
- Roche Diagnostics
- POC medical systems
- BioTime, Inc.
- General electricity company
- Quest Diagnosis
- Agendia S.A.
- OncoCyte Corporation.
The Breast Cancer Screening Market report provides an in-depth analysis of macroeconomic factors and market attractiveness of each segment. The report will include an in-depth qualitative and quantitative assessment of the industry/regional outlook with the presence of market players in the respective segment and region/country. The information concluded in the report includes the entries.
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Breast Cancer Screening Market report covers comprehensive analysis on
- Market Segmentation and Regional Analysis
- 10 year market size
- Price analysis
- Supply and demand analysis
- Product life cycle analysis
- Porter’s Five Forces and Value Chain Analysis
- Analysis of developed and emerging economies
- PEST analysis
- Factor analysis of the market and forecasts
- Opportunities, risks and market trends
- Conclusion and recommendation
- Regulatory landscape
- Patent Analysis
- Competition landscape
- More than 15 company profiles
Regional analysis of breast cancer screening market includes
- North America (United States, Canada, Mexico)
- South America (Brazil, Argentina, Colombia, Peru, Rest of Latin America)
- Europe (Germany, Italy, France, UK, Spain, Poland, Russia, Slovenia, Slovakia, Hungary, Czech Republic, Belgium, Netherlands, Norway, Sweden, Denmark, Rest of Europe)
- Asia-Pacific (China, Japan, India, South Korea, Indonesia, Malaysia, Thailand, Vietnam, Myanmar, Cambodia, Philippines, Singapore, Australia and New Zealand, Rest of Asia-Pacific)
- The Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa, North Africa, Rest of MEA
Breast Cancer Screening Market Target Audience
- Breast cancer screening clinics and diagnostic centers
- Investors and trading experts
- Large, medium and small businesses
- Hospitals and clinics
- Trade publications and magazines
- Government authorities, associations and organizations