Rising occurrences of breast cancer is one of the significant factor influencing the market growth
NEW YORK, NY, UNITED STATES, November 26, 2021 /EINPresswire.com/ — 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 rising occurrences of breast cancer across the globe. Breast cancer is the most common type of cancer occurring in women. There were more than 2 million new cases of breast cancer in 2018. Belgium, Luxembourg, and the Netherlands are the countries with the highest rates of occurrences of breast cancer in the year 2018 across the globe. According to Global Health Estimates, WHO 2013, it is projected that more than 508,000 women deceased in 2011 owing to breast cancer. It has been found that around 50% of breast cancer cases and nearly 58% of deaths happen in less developed economies as compared to developed economies. The global survival rates from the disease vary greatly, ranging from around 80% in North America, Japan, and Sweden to nearby 60% in middle-income nations and lower than 40% in low-income nations. Hence, the implementation of breast diagnostics to screen and detect malignant cells in the human breast is driving the growth of the market.
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. As a result, in several cases, breast cancer patients were categorized as non-urgent. Further, the psychological influence of postponed cancer diagnosis as a result of the COVID-19 pandemic cannot be undermined as when psychological, physical, and social health of patients are handled in a positive way, chances of patients’ survival have been seen to improve from a state of illness towards recovering from the disease. 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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Some of the key companies operating in the global Breast Cancer Diagnostics market are:
Myriad Genetics Inc., Hologic Inc., Danaher Corporation, CR Bard Inc., Genomic Health, NanoString Technologies Inc., Becton, Dickinson, and Company, Koninklijke Philips NV, Devicor Medical Products Inc., and Abbott Laboratories, among others.
The pharma and healthcare sector is rapidly growing in the recent past and is expected to register substantial revenue share over the forecast period of 2028. Factors such as technological developments in the healthcare and pharma field, improving healthcare infrastructure and increasing healthcare expenditure are key factors boosting market growth. The market dynamics have completely changed after the outbreak of COVID-19 pandemic. Increasing prevalence of various chronic diseases, high occurrence of diabetes, cancer and cardiovascular disorders and rising number of accidents across the globe are fueling growth of the global Breast Cancer Diagnostics market. In addition, increasing investments in research and development activities, high adoption of personalized medicines and ongoing research on drug discovery are further boosting market growth.
The report is curated using extensive primary and secondary research which is thoroughly evaluated by industry experts and professionals. Advanced analytical tools such as SWOT analysis, Porter’s Five Forces Analysis, and investment return analysis are used to obtain the report data. This data is represented through various diagrams, graphs, tables, and charts to help the reader understand the market dynamics accurately. The report also provides information about each market player, its global position, business expansion plan financial status, license agreement, and product and services portfolio.
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Further key findings from the report suggest
• Mammography contributed to a significant market share in 2019. Mammography screening often enables the detection of cancers at an early stage of development, whereby treatment may be done without chemotherapy.
• The market is dominated by the female population, with male patients contributing to less than 1.0% of the market share in 2019
• Hospitals dominated the breast cancer diagnostics market in 2019. The factors including well-resourced operating & diagnostic rooms, higher purchasing power, the existence of highly skilled healthcare professionals, and improved health coverage for hospital-based healthcare services from several private and group insurance plans, among others, are responsible for the high market share of hospitals.
• North America contributed to the largest breast cancer diagnostics market share in 2019. The market dominance is owing to the higher acceptance of advanced technologies, well-established healthcare diagnostic facilities, the surging incidence of the disease, and the enactment of numerous initiatives for raising awareness about the disease in the region.
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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)
• Genomic Test
• Blood Test
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
• North America (U.S., Canada, Mexico)
• Europe (Italy, U.K., Germany, France, Rest of Europe)
• Asia Pacific (India, China, Japan, South Korea, Australia, Rest of APAC)
• Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
• Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Source: EIN Presswire