Breast Cancer Diagnostics Market by Type (Imaging, Biopsy, Genomic Tests, Blood Tests, and Others), Product (Platform-based products and Instrument-based Products), Application (Screening, Diagnostic and Predictive, Prognostic, and Research), End Use (Hospitals & Clinics, Diagnostic Centers & Medical Laboratories, and Others): Global Market Size Estimates and Forecast (2022-2030)

Code: BMIRE00026802 | Pages: 100 | Industry: Medical Device | Date: Oct 2022 | Type: Global

The market crossed US$ 4.93 billion mark in 2022 and is expected to hit US$ 8.81 billion by 2030, recording a CAGR of 7.54% during the forecast period.   

Increasing cases of breast cancer is driving the growth of breast cancer diagnostic market.

According to American Cancer Society, in 2021, about 281,550 new cases and 49,290 breast cancer related deaths occurred in the US alone. According to the World Health Organization breast cancer is the common cancer that occurs globally with new cases surpasses about 2.3 million. Early detection is the effective management of the disease. The instrument-based testing segment is expected to dominate during the forecast period because imaging and biopsy are preferred by general population-based screening of breast cancer patients. Thus, aforementioned factors are expected to drive the breast cancer diagnostics market.

Within the report, the market is segmented into type, product, application, end use, and geography. By type, the market is further segmented into imaging, biopsy, genomic tests, and others. Based on product, the market is segmented into platform-based products and instrument-based products. By application, the market is categorized into screening, diagnostic & predictive, prognostic, and research. Based on end use, the market is divided into hospitals & clinics, diagnostic centers & medical laboratories, and others. Geographically, the market is subsegmented into North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa.

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Increasing reimbursement process surge the growth of breast cancer diagnostics market.

The rising reimbursement and insurance coverage are propelling the growth breast cancer diagnostic market. The government agencies for nationwide reimbursement approved various breast cancer tests. Medicaid, Medicare, and third-party payer benefit plans in the US which cover the cost of genetic testing such as BRCA1 and BRCA2. These are reimbursed by patients with a family history of cancer. Thus, this increases the number of tests that are being carried out. Thus, aforementioned factors are driving the growth of the breast cancer diagnostics market during the forecast period.

Rising adoption of advanced diagnostic techniques accelerates the breast cancer diagnostic market growth.

North America region is expected to dominate the breast cancer diagnostics market. The factors such as high patient awareness, well-established diagnostic, screening infrastructures, and presence of key players. Further, increasing cases of breast cancer and the adoption of advanced diagnostic techniques promotes the growth of breast cancer diagnostic market.

Recent strategic developments in breast cancer diagnostic market

The breast cancer diagnostics market has undergone several significant developments, and a few of these have been mentioned below:

  • In January 2021, Hologic Inc. acquired Biotheranostics and Somatex Medical Technologies GmbH. This helped the company to expand its breast health product portfolio and strengthen its position in the market for breast cancer diagnostics.
  • In September 2020, Thermo Fisher Scientific, Inc. in agreement with AstraZeneca and the University of Nebraska Medical Center develops innovative clinical biomarkers.

 

The breast cancer diagnostics market is driven by several players by implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. Hologic Inc; Genomic Health; BD; Koninklijke Philips NV; Argon Medical Devices, Inc; F.Hoffmann-La Roche Ltd; Myriad Genetics; Qiagen; Danaher; and Thermo Fisher Scientific, Inc. are among the prominent players operating in the market.

Target audience for the report:

  • Hospitals
  • Clinics
  • Diagnostics Centers
  • Medical Laboratories

Scope of the report:

In this report, the market has been segmented based on:

  • Type
    • Imaging
    • Biopsy
    • Genomic Tests
    • Blood Tests
    • Others
  • Product
    • Platform-based Products
      • Next-generation sequencing
      • Microarrays
      • PCR
      • Others
    • Instrument-based Products
      • Imaging
      • Biopsy
  • Application
    • Screening
    • Diagnostic and Predictive
    • Prognostic
    • Research
  • End Use
    • Hospitals & Clinics
    • Diagnostic Centers & Medical Laboratories
    • Others
  • Region
    • North America
    • Europe
    • Asia Pacific (APAC)
    • South & Central America
    • Middle East & Africa
  • Companies profiled
    • Hologic Inc
    • Genomic Health
    • BD
    • Koninklijke Philips NV
    • Argon Medical Devices, Inc
    • F.Hoffmann-La Roche Ltd
    • Myriad Genetics
    • Qiagen
    • Danaher
    • Thermo Fisher Scientific, Inc.

The List of Companies
- Hologic Inc
- Genomic Health
- BD
- Koninklijke Philips NV
- Argon Medical Devices, Inc
- F.Hoffmann-La Roche Ltd
- Myriad Genetics
- Qiagen
- Danaher
- Thermo Fisher Scientific, Inc.

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