Global Breast Cancer Diagnostics Market by Product (Platform-based, Instrument-based), by Type (Genomic Tests, Biopsy, Blood Tests, Imaging) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

Global breast cancer diagnostics market was valued at USD 3.9 billion in 2020. It is projected to grow at 7.0% compound annual growth rate (CAGR), between 2021 and 2028. This growth is due to rising cancer incidence and government initiatives to improve screening and diagnosis rates. Market demand for breast cancer diagnostics will increase due to the increasing incidence of breast disease. According to the American Cancer Society in 2021, there will be 281,550 new breast cancer cases and 49,290 deaths related to it. According to the WHO, breast cancer will be the most prevalent type of cancer worldwide in 2021 with more than 2.3 million new cases.

The dominant growth factor for the forecast period is expected to be the growing demand for more technologically advanced products. This will allow for greater accuracy, speed and cost-effectiveness. Direct-To-Consumer testing (DTC), for example, has been introduced in the field cancer diagnostics. 23andMe introduced the first DTC test in 2018. It was approved by the FDA for BRCA testing. This is the first DTC test for BRCA gene mutations that can increase the risk of developing breast and ovarian cancers.

The increasing reimbursement and insurance coverage will also increase testing adoption. For nationwide reimbursement, different tests are being approved for reimbursement by government agencies. The cost of genetic testing is covered by Medicare, Medicaid, and third party payer benefit plans. Individuals with a family history or cancer are eligible to receive reimbursement for genetic tests such as BRCA1 or BRCA2. This has resulted in an increase in the number and frequency of these tests.

Effective management of the disease requires early detection. This can improve quality of life, offer many treatment options, and increase survival rates. Research Fast Facts published a 2018 article that showed that regular screening and early detection using mammography can reduce the breast cancer rate by 30 percent. Research to identify breast cancer early is expected to increase the market for diagnostics.

There are some risks associated with imaging procedures. Imaging procedures involve high doses of barium and fluorescent contrast agents. Radiation exposure can also be used in imaging and endoscopic procedures. These radiation exposures can lead to nausea and diarrhea. These screening procedures are not recommended due to the risks of ionizing radiation from CT, MRI, X-rays and radioactive tracer injections in PET.

Product Insights

Instrument-based testing was the dominant segment in the breast cancer diagnostics market and held the largest revenue share at 72.7% in 2020. The first option for screening patients with breast cancer is imaging. All breast cancer patients must have a biopsy to confirm their diagnosis. Many organizations, such as the National Breast Cancer Foundation, Inc., are working to raise awareness about breast cancer, its benefits, and the available treatment options.

Due to the increased preference for platform-based products for targeted therapy, the platform-based products segment will see the most growth during the forecast period. Next Generation Sequencing (NGS), microarrays and PCR are the segments of the market for breast cancer diagnostics. Market growth is due to the presence of commercialized products like GeneReader NGS system, Ion GeneStudio S5 next generation sequencing systems, Ion AmpliSeq panels for targeted NGS, and Ion IAseq Panel assays.

Application Insights

Diagnostics and predictive applications dominated the market for breast-cancer diagnostics in 2020 and accounted for around 47.6% of the total revenue. The segment's growth may be further supported by the growing popularity of genetic testing. According to a report, 25% of women underwent genetic testing for cancer in 2019. The market for breast cancer diagnostics may grow due to technological advances such as biomarkers.

Prognostic segments are expected to see a significant increase in CAGR during the forecast period. These tests are increasingly being used to match patients with treatments. This increases the patient's survival rate significantly. These products include companion diagnostics. For example, BRACAnalysis CDx for Lynparza, Talzenna, by Myriad Genetic Laboratories, Inc.; PD-L1 PH 22C3 pharmDx, by Dako North America, Inc. (a division of Agilent Technology, Inc.) and FoundationOne CDx, by Foundation Medicine, Inc., (a division of F.Hoffmann La-Roche Ltd.).

End-use Insights

Hospitals and clinics dominated the breast cancer diagnostics market and held the largest revenue share at around 50.2% in 2020. This segment is expected to grow due to the increasing number of patients being admitted and the rising burden of the disease. Patients are then taken for biopsy to confirm their diagnosis in hospital. PET, CT and MRI can also be used to check for disease progression and evaluate the effectiveness of treatment.

Due to the increase in government initiatives to offer various services such as reimbursement for diagnostic tests, the segment of diagnostic centers and medical labs is expected to see a significant growth over the forecast period. Many hospitals are collaborating with laboratories to integrate various tests such as mammography and ultrasound.

Type Insights

Imaging dominated the breast cancer diagnostics market and was responsible for the highest revenue share at 73.6% in 2020. Market growth is expected to be driven by factors like the high volume of procedures, accessibility and improved effectiveness. Mammogram, ultrasound and MRI are the most commonly used imaging techniques for diagnosis and screening. There are also many emerging imaging techniques, such as breast tomosynthesis and Molecular Breast Imaging (MBI), CT, PET, and others that can be used to diagnose breast cancer.

Due to numerous research studies that are being conducted globally by major players and research organizations, the blood tests segment will be the fastest growing segment over the forecast period. The liquid biopsy test's high efficacy is expected to be a driving force in the growth of this segment. According to an American Association for Cancer Research research, DNA blood tests can be used for early detection of breast cancer.

Blood tests detect very small amounts (called circulating tumor DNA) of tumor DNA in bloodstream. MSK researchers discovered mutations in PTEN and ESR1 that can be used to block estrogen-blocking drugs.

Regional Insights

North America was the dominant market for breast cancer diagnostics in 2020, accounting for 45.9% of the total revenue. This region is dominated by major players, well-established screening and diagnostic infrastructures, technological advances, patient awareness and favorable reimbursement policies.

The highest CAGR for breast cancer diagnostics in Asia Pacific is expected to be observed during the forecast period. This is due to increasing breast cancer incidence and adoption of advanced diagnostic methods. Market growth will also be supported by the rising healthcare infrastructure and improved reimbursement guidelines.

Market Share Insights & Key Companies

To increase their market share globally, the key companies are pursuing strategies like mergers and acquisitions or partnerships. Hologic Inc. purchased Biotheranostics GmbH and SOMATEX Med Technologies GmbH in January 2021. These acquisitions have allowed the company to increase its product line for breast health and strengthened its position on the breast cancer diagnostics market.

Thermo Fisher Scientific, Inc. signed an agreement in September 2020 with AstraZeneca, University of Nebraska Medical Center, and other institutions for the development of clinical biomarkers. The company also entered into an agreement in October 2018 with Pfizer, Inc. to allow BRACAnalysis CDx, which will be used as a companion diagnostic for Pfizer's proprietary talazoparib. The following are some of the most prominent players in breast cancer diagnostics:

• Hologic Inc.

• Genomic Health (Exact Sciences Corporation).

• BD

• Danaher

• Koninklijke Philips N.V.

• QIAGEN

• Thermo Fisher Scientific Inc.

• Myriad Genetics

• Argon Medical Devices, Inc.

• F. Hoffmann-La Roche Ltd.

Up Market Research published a new report titled “Breast Cancer Diagnostics Market research report which is segmented by Product (Platform-based, Instrument-based), by Type (Genomic Tests, Biopsy, Blood Tests, Imaging), By Players/Companies Thermo Fisher Scientific Inc, Koninklijke Philips NV, BD, Genomic Health (Exact Sciences Corporation), Myriad Genetics, Hologic Inc, QIAGEN, Argon Medical Devices Inc, Danaher, F Hoffmann-La Roche Ltd”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Breast Cancer Diagnostics Market Report Segments:

The market is segmented by Product (Platform-based, Instrument-based), by Type (Genomic Tests, Biopsy, Blood Tests, Imaging).

Breast Cancer Diagnostics Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Breast Cancer Diagnostics Market

Overview of the regional outlook of the Breast Cancer Diagnostics Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Breast Cancer Diagnostics Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Breast Cancer Diagnostics Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Platform-based

                2. Instrument-based

                1. Genomic Tests

                2. Biopsy

                3. Blood Tests

                4. Imaging

8. Market scenario by region, sub-region, and country.
9. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
10. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
11. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Breast Cancer Diagnostics Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

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Reasons to Purchase the Breast Cancer Diagnostics Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.