The global breast cancer screening market size is expected to be USD 5.2 billion in 2021 and reach USD 8.43 Billion in 2027, registering a CAGR of 8.4% during the forecast period, 2021-2027. Breast cancer remains the most commonly seen cancer type worldwide and among the leading disease affecting women aged 50-70 years, which highlights the critical need for effective breast cancer screening. There has been an increasing awareness among women about the signs and symptoms of breast cancer, coupled with the knowledge of how early screening and diagnosis can prevent the further undesirable episodes. This is expected to act as among the key factors driving the market growth during the forecast period. In the wake of an alarming rate of cancer prevalence, governments worldwide have been taking multiple initiatives in favor of effective screening, diagnosis, and treatment, which will provide strong support to the growth of the breast cancer screening market. Imaging tests are currently trending in the global breast cancer screening market space.
Key Factors to be Responsible in Shaping up Breast Cancer Screening Industry over Forecast Period
Factors such as growing healthcare expenditure in developing nations, high prevalence of breast cancer, and growing awareness regarding rising healthcare concerns among patients are anticipated to drive the growth of the global breast cancer screening market. The American Cancer Society estimates over 280,000 new breast cancer cases to be diagnosed in 2021 alone. Furthermore, nearly 50,000 deaths related to breast cancer have been anticipated in the US alone. The WHO also highlights breast cancer to prevail as the most common cancer type globally, expecting a massive rise in the prevalence and mortality. Breast cancer screening is thus likely to remain in demand throughout the forecast period.
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With the market witnessing the introduction of technologically advanced, innovative screening products targeting faster, more accurate, and cost-efficient results, the market for breast cancer screening is set to experience robust growth prospects. The introduction of direct-to-consumer (DTC) testing in the field of cancer diagnostics by 23andMe (2018) is likely to be significantly responsible for driving the market growth. Favorable reimbursement scenarios and improving insurance coverage, especially in developed western regions, will push the rate of adoption of breast cancer screening. The development of new screening tests and procedures such as physical tests, laboratory tests, imaging tests, and genetic tests has positively impacted the demand for breast cancer screening in the healthcare and pharmaceutical sectors globally.
The various initiatives are taken by governments and private medical facilities and non-governmental/public organizations to promote awareness about breast cancer are likely to be a strong factor bolstering the market growth. The high cost of screening tests and stringent regulations regarding screening equipment approvals may restrain the adoption of breast cancer screening tests to a certain extent.
Impact of COVID-19 on Breast Cancer Screening Market
The global COVID-19 pandemic suddenly raised the burden on the healthcare system, leading to strained health services for a lasting period of more than a year. During this critical period, breast cancer diagnosis, including mammography screening and treatment procedures, were paused or taken with reduced capacity or delayed. This has been holding a major adverse impact on the breast cancer screening market throughout 2020. Moreover, the scenario further led to delayed breast cancer diagnosis and treatment, potentially resulting in intensive treatment requirements sooner or later and even a hike in related mortality rate in the worst cases.
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Scope of the Report
The report outlines the global Breast Cancer Screening market study based on type and end-user.
The breast cancer screening market has been segmented based on test type –
- Physical Tests
- Laboratory Tests
- Imaging Tests
- Genetic Tests
The breast cancer screening market has been segmented based on the end user –
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- Research Labs
- Cancer Institutes
- Diagnostic Centers
- Others
Breast Cancer Screening Market Regional Outlook
Based on the region, the global breast cancer screening market has been segmented into five geographical regions, namely, North America, Asia Pacific, Europe, South America, and the Middle East, and Africa. In 2020, North America held the largest share in the breast cancer screening market, followed by the Asia Pacific. Europe also remains an important market owing to the growing healthcare expenditure and technology advancements in the region. Moreover, Asia Pacific is expected to project the highest CAGR globally over the forecast period owing to the rapidly developing medical structure and increasing spending on healthcare in the region.
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Key Global Breast Cancer Screening Market Competitors Includes
The breast cancer screening market is highly fragmented, with the presence of a large number of small players across the globe. The vital breast cancer screening market manufacturers operating in the global market are –
- Siemens Healthcare
- Allengers Infotech
- Hologic, Inc.
- Myriad Genetics
- Metabolomic Technologies Inc.
- Biocrates LifeSciences AG
- A&G Pharmaceuticals
- Provista Diagnostics, Inc.
- Roche Diagnostics
- POC Medical Systems
- BioTime, Inc.
- General Electric Company
- Quest Diagnostics
- Agendia NV
- OncoCyte Corporation.
The breast cancer screening market report provides a thorough analysis of macro-economic factors and every segment’s market attractiveness. The report will include an in-depth qualitative and quantitative assessment of the segmental/regional outlook with the market players’ presence in the respective segment and region/country. The information concluded in the report includes the inputs.