Breast Cancer Diagnostics Industry Expected To Possess Nearly 45% Market Share throughout North America
Fact.MR
forecasts that global sales of breast cancer diagnostics will exceed US$ 7.9
billion by 2022-2032, with a CAGR of 7%. The industry's demand for
cost-effective, technologically sophisticated, efficient, and accurate
diagnostic solutions is expected to be a prominent trend during the next
decade.
Historically,
demand
for breast cancer diagnostics increased at a CAGR of 6% from
2017 to 2021. When coronavirus became a global epidemic in the first quarter of
2020, it wreaked havoc on healthcare infrastructure all across the world. Every
country had to rethink its healthcare plans, which resulted in huge reforms all
around the world. With the global frequency of cancer cases increasing, the
general public's desire for effective ways to treat and detect breast cancer
has grown, and governments are concentrating on offering these solutions in a
cost-efficient manner.
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Breast
cancer diagnostics companies are working on creating new tools and gadgets to
aid in the early identification of breast cancer, which is critical for
effectively battling the illness. Investments in research are also expected to
expand significantly over the next 10 years as the focus shifts to treating and
battling breast cancer.
Key Takeaways from the Market Study
·
By test type, CEA test expected to hold more
than 45% market share for breast cancer diagnostics
·
By end user, hospital based labs expected to
hold more than 50% market share for breast cancer diagnostics market.
·
Breast cancer diagnostics industry expected to
possess nearly 45% market share throughout North America.
·
Breast cancer diagnostics industry expected to
possess nearly 40% market share throughout Asia Pacific.
·
Global market for breast cancer diagnostics to
reach US$ 4 Bn by the end of 2022
“Rising
number of active breast cancer cases is a major concern across the globe, and
non-existence of early diagnostic solutions is a major factor influencing the
landscape,” says a Fact.MR analyst.
Competitive Landscape
·
Scientists and experts at the RCSI University of
Medicine and Health Sciences in Dublin, in a trial funded by Breast Cancer Now,
are experimenting on curing secondary breast cancer, which is regarded as
incurable as of now. They are studying an existing drug called talazoparib. If
the trial is a success, it would change breast cancer treatment radically.
·
In October 2021, Allergan Aesthetics started its
“The Power of You” campaign, which consists of various events and partnerships
in order to create an impact in the fight against breast cancer. The campaign
is expected to be carried on into the first quarter of 2022. The campaign is
anticipated to help organizations in creating awareness as well as raining
funds to fight breast cancer.
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Key Segments Covered in the Breast Cancer
Diagnostics Report
- By
Test Type
- CA Tests for Breast Cancer
- BRCA Test for Breast
Cancer
- ER & PR Test for
Breast Cancer
- CEA Test for Breast Cancer
- KRAS Mutation Test for
Breast Cancer
- HER 2 Test for Breast
Cancer
- PSA Test for Breast Cancer
- EGFR Mutation Test for
Breast Cancer
- Immunohistochemistry for
Breast Cancer
- Others
- By
End User
- Hospital Associated Labs
- Independent Diagnostic
Laboratories
- Cancer Research Institutes
- Others
In North America, are well-established
diagnostics centres creating lucrative opportunities?
Breast
cancer diagnostics demand in the United States is expected to grow at a rapid
pace due to an increase in cases across the country. Some of the primary
drivers affecting market expansion in the nation include well-established
diagnostic infrastructure, technological improvements, rising healthcare
spending, and increased awareness about breast cancer.
Thus, North
America is expected to account for more than 45% of the worldwide breast
cancer diagnostics market share between 2022 and 2032.
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Different Testing Method Creating Lucrative
Opportunities for Breast Cancer Diagnostics?
As research
on the detection of breast cancer increases, new and innovative diagnostic
methods are being adopted and applied. Most of these methods are not used
extensively, but as research is backing their credibility, these methods are
expected to become mainstream over the years.
·
Diagnostic Imaging for Breast Cancer
·
Biopsy Procedure for Breast Cancer Diagnostics
·
Genomic Tests for Breast Cancer Diagnostics
·
Blood Tests for Breast Cancer Diagnostics
·
Next-generation Sequencing for Breast Cancer
Diagnostics
·
Microarrays in breast cancer diagnostics
* This article was originally published here
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