Dublin, Jan. 05, 2023 (GLOBE NEWSWIRE) -- The "Breast Cancer Diagnostics - Market Insights, Competitive Landscape and Market Forecast - 2027" report has been added to ResearchAndMarkets.com's offering.
The global Breast Cancer Diagnostics market was valued at USD 4.20 billion in 2021, growing at a CAGR of 6.67% during the forecast period from 2022 to 2027 to reach USD 6.16 billion by 2027. The breast cancer diagnostics market is witnessing positive growth owing to factors such as the increasing prevalence of breast cancer, increasing age and sedentary lifestyle, technological advancements, rising number of government initiatives to increase the rate of screening and diagnosis, thereby driving the growth of the breast cancer diagnostics market during the forecast period from 2022-2027.
Breast Cancer Diagnostics Market Dynamics:
One of the main drivers of the breast cancer diagnostics market is the increasing prevalence of breast cancer globally. As per the World Health Organization (WHO) 2021 data, in 2020 breast cancer was diagnosed in 2.3 million women globally. Further, as per the same source by the end of 2020, there were 7.8 million women alive who were diagnosed with breast cancer in the last 5 years, making it the world's most prevalent cancer.
Moreover, another key factor that is responsible for the growth of the breast cancer diagnostics market is the rising number of initiatives taken by specific national governments to increase awareness about early screening and diagnosis. For instance, in March 2021, WHO launched a Global Breast Cancer Initiative (GBCI) to reduce global breast cancer mortality by 2.5% per year, which would prevent 25% of breast cancer deaths by 2030 and 40% by 2040 among women under 70 years of age. Providing information about signs, symptoms, early detection, treatment, etc. of breast cancer would aware public of breast cancer diagnosis and treatment which would increase the demand for the breast cancer diagnostics market.
However, the high cost of diagnosis of breast cancer, limitations in diagnosis like false-positive results, and overdiagnosis with mammogram leads to unnecessary treatments which can slow down the breast cancer diagnostics market growth.
Breast Cancer Diagnostics Market Segment Analysis:
In the type segment of the breast cancer diagnostics market, diagnosis through imaging techniques such as mammography, ultrasound, breast MRI, and CT scan is expected to hold a significant share during the forecast period, owing to the various benefits associated with them such as low-dose x-ray image of breast tissue through a mammogram, early and timely detection of breast cancer, thereby also reducing the risks of undergoing chemotherapy. For example, according to the National Cancer Institute July 2021, U.S. preventive task force recommends that 76.4% of women aged 50-74 years had mammography within the past 2 years. By 2030, 77.1 % proportion of women aged 50-74 years would have received breast cancer screening.
In addition, in January 2022, Duke University researchers created an Artificial Intelligence (AI) platform to analyze potentially cancerous lesions in mammography scans and determine whether patients should receive invasive biopsies. This AI helped to detect suspicious lesions that could be used to train students on how to read mammography images and can help physicians to take health care decisions. Furthermore, this AI technology could be used for making wise decisions, increasing the demand for image diagnosis, thus driving the growth of the breast cancer diagnostics devices market during the forecast period from 2022-2027.
Key Takeaways from the Breast Cancer Diagnostics Market Report Study
Market size analysis for current breast cancer diagnostics market size (2021), and market forecast for 5 years (2022-2027)
The effect of the COVID-19 pandemic on this market is significant. To capture and analyze suitable indicators, our experts are closely watching breast cancer diagnostics.
Top key product/services/technology developments, mergers, acquisitions, partnerships, and joint ventures happened for the last 3 years
Key companies dominating the global breast cancer diagnostics.
Various opportunities are available for other competitors in the breast cancer diagnostics market space.
What are the top-performing segments in 2021? How these segments will perform in 2027.
Which are the top-performing regions and countries in the current breast cancer diagnostics market scenario?
Which are the regions and countries where companies should have concentrated on opportunities for breast cancer diagnostics market growth in the coming future?
Key Topics Covered:
1. Breast Cancer Diagnostics Market Report Introduction
2. Breast Cancer Diagnostics Market Executive Summary
3. Regulatory Analysis
4. Breast Cancer Diagnostics Market Key Factors Analysis
5. Breast Cancer Diagnostics Market Porter's Five Forces Analysis
6. COVID-19 Impact Analysis on Breast Cancer Diagnostics
7. Breast Cancer Diagnostics Market Layout
8. Breast Cancer Diagnostics Market Company and Product Profiles
9. KOL Views
10. Project Approach
11. About the Publisher
12. Disclaimer & Contact Us
Niramai Health Analytix
UE LifeSciences Inc
Xuzhou AKX Electronic Science And Technology Co Ltd
Kheiron Medical Technologies Limited
General Electric Company
Koninklijke Philips N.V
Canon Medical Systems Argentina S.A
Siemens Healthcare GmbH
For more information about this report visit https://www.researchandmarkets.com/r/ntgrtn
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood,Senior Press Manager email@example.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900