AI Systems with Advanced Analytics to Identify Unmet Patient Needs
Breast cancer is one of the most common types of cancer found in women worldwide. However, breast cancer does not always show obvious symptoms in the early stages. Hence, companies in the breast cancer diagnostics market are increasing their R&D in AI technologies to identify unmet patient needs. For instance, Paragon Biosciences LLC announced the launch of its seventh portfolio company Qlarity Imaging LLC, to gain FDA clearance for their AI system used for breast cancer diagnostics in radiology.
Companies in the breast cancer diagnostics market are harnessing the advantages of AI to improve medical outcomes. The AI technology is being increasingly used in additional image modalities with the goal of lowering costs for hospitals as well as payers. Companies in the market for breast cancer diagnostics are directing their investments in developing AI systems with intuitive displays and machine learning (ML).
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Blood Screening Tests Revolutionize Breast Cancer Diagnostics with Early Detection Possibilities
Most types of breast cancer are treatable and survival rates are high for patients that detect cancer at an early stage. Hence, researchers in the market for breast cancer diagnostics are increasing their focus in novel methods of blood screening that are reinventing techniques for early detection of breast cancer. For instance, researchers from the University of Nottingham are innovating in new blood screening methods that can help detect breast cancer years before it gets severe. Such discoveries are bolstering market growth, as the breast cancer diagnostics market is expected to reach a revenue of ~US$ 9 Bn by the end of 2027. Moreover, molecular testing is anticipated for exponential growth during the forecast period.
On the other hand, researchers are examining antigens and auto-antibodies to determine the presence of a tumor. Tumor-associated antigens (TAAs) are considered as a reliable indicator of breast cancer. Thus, companies in the breast cancer diagnostics market should collaborate with researchers to advance in clinical studies.
Simplifying Synthesis Steps and Nanoprobe Functionalization Bolster Innovations in Nanotechnology
Nanotechnology holds promising potential for early detection of breast cancer. This technology is being highly publicized for its high sensitivity, specificity, and multiplexed measurement capacity in the breast cancer diagnostics market. However, translation of nanotechnology-based diagnostic methods into routine clinical applications poses as a challenge for healthcare providers.
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The breast cancer diagnostics market is consolidated with three major players accounting for ~66% of the global market share. This indicates that companies are increasing their research efforts in new diagnostic methods such as nanotechnology and deep learning to improve clinical numbers. However, the reliability of nanotechnology-based cancer diagnosis in regular clinical practices is still at the nascent stage in the market for breast cancer diagnostics. Moreover, high costs associated with the long-term storage of nanoprobes that are highly sensitive is another barrier for market growth. Hence, companies in the market for breast cancer diagnostics are simplifying the synthesis steps and nanoprobe functionalization and are increasing R&D to launch cost-efficient ways of introducing nanotechnology-based diagnosis in clinical practices.
Automated Diagnosis Techniques with ML Algorithms Help Distinguish Tumors
Automated breast cancer diagnostics based on ML algorithms are bringing about a change in the market landscape. Soft computing techniques are being increasingly used to produce accurate and faster diagnosis of breast cancer amongst patients. Hence, healthcare companies in the breast cancer diagnostics market are collaborating with researchers to combine imaging techniques with ML algorithms to increase diagnosis accuracy. Preprocessing, feature extraction, and classification are becoming the key focus points for healthcare companies in order to advance in ML-based imaging techniques.
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Several data mining and ML techniques are being used to facilitate careful interpretation and analysis of peripheral areas of the patient. As such, feature extraction plays a pivotal role in breast cancer detection using ML techniques. Such novel techniques are helping practitioners in the breast cancer diagnostics market to distinguish between benign and malignant tumors. Transform-based texture analysis techniques are being facilitated to convert the image into new analysis studies using spatial frequency properties.
Breast Cancer Diagnostics Market: Overview
- The global breast cancer diagnostics market was valued at US$ 4.8 Bn in 2018 and is projected to expand at a high CAGR from 2019 to 2027. High prevalence and increase in incidence rate of breast cancer across the globe and technological advancements in diagnostic techniques are anticipated to fuel the growth of the global breast cancer diagnostics market.
- Breast cancer is the most common form of cancer observed among women across the globe and accounts for around 12.3% of all the cancer cases reported. Breast cancer starts in breast tissues when the cells in the breast begin to grow out of control.
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- Breast cancer starts in the milk ducts that carry milk to the nipple. It could also start in the milk glands and other tissues of the breast. Symptoms of breast cancer are the formation of new lump or mass in the breast, swelling, pain, and nipple retraction. The two basic types of breast cancer are invasive breast cancer and non-invasive breast cancer. Around 80% of breast cancers are invasive.
- Breast cancer can be diagnosed using different techniques, from physical examination to CT/PET scan. Mammography systems are used as the first line of diagnosis of breast cancer. The other breast cancer diagnostic tools are breast ultrasound systems, breast magnetic resonance imaging, computed tomography (CT scan), positron emission tomography (PET scan), breast biopsy, and molecular testing.
- The global breast cancer diagnostics market is expected to be driven by high prevalence and increase in incidence rate of breast cancer across the globe. According to the World Cancer Research Fund Organization, 2,088,849 cases of breast cancer were reported globally in 2018. The organization estimated that the number of breast cancer cases would reach to 5.5 million across the world by the end of 2030.
- Presently, R&D on cancer diagnosis is primarily focused on liquid biopsy. Market players and research institutes are conducting extensive clinical trials to develop highly sensitive biopsy platform. In May 2018, Grail, a U.S.-based biotechnology company, raised US$ 1 Bn in VC funding and embarked on a 120,000-patient study for early breast cancer detection. Extensive research on biopsy aimed at promoting early diagnosis of cancer is likely to drive the global breast cancer diagnostics market during the forecast period.
Breast Cancer Diagnostics Market: Segmentation
- The global breast cancer diagnostics market has been segmented based on technique, cancer type, end user, and region
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- In terms of technique, the global breast cancer diagnostics market has been categorized into imaging, breast biopsy tests, and molecular testing. The imaging segment is projected to lead the global breast cancer diagnostics market during the forecast period. Imaging tests are most preferred for the initial diagnosis of breast cancer and are comparatively costlier than other tools. This can be attributed to the segment’s market dominance in 2018. The imaging segment has been classified into mammography systems, breast ultrasound systems, MRI scan, and PET/CT scan.
- Based on cancer type, the global breast cancer diagnostics market has been bifurcated into ductal carcinoma in situ (DCIS) and invasive breast cancer. The invasive breast cancer segment accounted for the largest share of the global market in 2018 and the trend is anticipated to continue during the forecast period.
- In terms of end user, the global breast cancer diagnostics market has been divided into hospitals & ambulatory surgery centers, diagnostic laboratories, and research & academic institutes. The hospitals & ambulatory surgery centers segment dominated the global breast cancer diagnostics market in 2018 and the trend is expected to continue from 2019 to 2027.
Breast Cancer Diagnostics Market: Regional Segmentation
- In terms of region, the global breast cancer diagnostics market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
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- North America dominated the global market in 2018 and is likely to gain market share by the end of 2027. The region’s dominance in terms of market share can be attributed to high prevalence and increase in incidence of breast cancer in the U.S. and Canada, and well-established healthcare facilities. High per capita healthcare expenditure, favorable medical reimbursement policies, and early adoption of technologically advanced products are attributed to the region’s large share of the global breast cancer diagnostics market in 2018.
- Asia Pacific is projected to be the fastest growing market for breast cancer diagnostics during the forecast period. Japan dominated the market in the region in 2018. The market in India is anticipated to expand at a high CAGR during the forecast period.
- The breast cancer diagnostics market in Latin America and Middle East & Africa is expected to expand at a high CAGR, owing to increase in demand for early diagnosis of breast cancer and focus of manufacturers on addressing unmet medical needs.
Breast Cancer Diagnostics Market: Major Players
- Companies such as Siemens Healthineers, GE Healthcare, and Hologic, Inc. accounted for major share of the global breast cancer diagnostics market in 2018. Other global players in the market include
- Abbott Laboratories
- Koninklijke Philips N.V., C. R. Bard, Inc.
- F. Hoffmann-La Roche Ltd.
- Fujifilm Holding Corporation
- Leica Biosystems Nussloch GmbH
- bioTheranostics, Inc.
- Myriad Genetics, Inc.
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