Breast Cancer Diagnostics Market to Grow with a CAGR of 7.17% through 2029

Continued research and development, coupled with global efforts to improve early detection and diagnosis is expected to drive the Global Breast Cancer Diagnostics Market growth in the forecast period, 2025-2029

According to TechSci Research report, “Breast Cancer Diagnostics Market – Global Industry Size, Share, Trends, Competition Forecast & Opportunities, 2029F”, the Global Breast Cancer Diagnostics Market stood at USD 4.24 billion in 2023 and is anticipated to grow with a CAGR of 7.17% through 2029.

The growth in the breast cancer diagnostics market can be attributed to a changing regulatory landscape. Regulatory agencies worldwide are placing greater emphasis on patient safety and the efficacy of diagnostic tools for breast cancer. As a result, manufacturers are compelled to develop more dependable and precise diagnostic solutions to meet stricter regulations and standards. Additionally, there is a noticeable shift toward patient-centered care in breast cancer diagnostics. This trend involves empowering patients with information, involving them in decision-making processes, and offering personalized support throughout their diagnostic journey. These efforts aim to enhance the overall patient experience and improve outcomes.

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Aging is a significant risk factor associated with breast cancer, as immune systems weaken with age, making individuals more susceptible to various diseases. Consequently, the elderly population requires enhanced healthcare services, particularly for diagnosing and managing chronic conditions like breast cancer. According to the Cancer Treatment Centers of America, women aged 60 and above have a higher likelihood of breast cancer diagnosis. Breast cancer is increasingly prevalent among women in developing economies, with a considerable number of cases diagnosed at later stages. Despite being traditionally associated with developed nations, approximately 50% of breast cancer cases and 58% of related deaths occur in developing countries. This trend is expected to drive the demand for breast cancer diagnostics in developing economies in the forecast period.

Technological advancements have significantly improved breast cancer diagnostics, enabling earlier detection and more precise treatment strategies. Notable innovations include digital mammography, utilizing X-rays to generate detailed breast images, offering improved image quality and visualization through manipulation. Another breakthrough is 3D mammography, also known as digital breast tomosynthesis, providing a more accurate assessment of breast abnormalities. The growing interest in technologically advanced products is anticipated to stimulate market growth due to their accuracy, speed, and cost-effectiveness. An emerging area is Direct-to-Consumer (DTC) testing, with companies like 23andMe receiving U.S. FDA approval for the first DTC test for BRCA gene mutations, associated with increased risks of breast and ovarian cancers.

Advancements in minimally invasive procedures have revolutionized breast cancer diagnostics, with techniques like stereotactic and ultrasound-guided biopsies enabling precise tissue sampling without surgery. These procedures can also be applied to image-guided tumor ablation, effectively eliminating cancer cells while minimizing damage to healthy tissues. The global demand for cancer diagnosis tools is increasing due to technological progress. Support from regulatory agencies like the FDA for cancer biomarker development and mass cytometry, innovative flow cytometry reagents for drug discovery and diagnosis, and the creation of technologically advanced miniaturized devices for portability and precision are driving market growth. Additionally, initiatives to develop novel imaging solutions for more accurate cancer diagnosis, such as the collaboration between Radiopharm Theranostics and The University of Texas MD Anderson Cancer Center in radiopharmaceutical product development, are boosting market expansion.

Early breast cancer detection is essential for effective disease management, leading to improved quality of life, multiple treatment options, and higher survival rates. Regular mammography screenings for early detection can reduce breast cancer rates by approximately 30%, according to a 2021 article in Research Fast Facts. Moreover, research focused on developing tests capable of detecting breast cancer at its earliest stages is expected to drive market growth. For instance, researchers at the University of Nottingham conducted a study in November 2019 to develop a blood test capable of detecting breast cancer five years before onset. The study employed screening technology to rapidly analyze blood samples for antibodies against 40 Tumor-Associated Antigens (TAAs).

The Global Breast Cancer Diagnostics Market is segmented into type, product, application, end-use, regional distribution, and company.

Based on its application, the diagnostic and predictive segment held a commanding position in the overall market in 2023. The diagnostic phase of breast cancer involves a range of tests, including biopsies, MRI, CT scans, and PET scans, to confirm the presence of breast cancer and evaluate tumor characteristics. These tests are crucial for guiding treatment decisions and gathering essential information about the disease. With the breast cancer diagnostic market becoming increasingly competitive, there is a growing emphasis on predictive diagnosis.

The Asia Pacific market is projected to experience substantial growth due to several factors, including increasing healthcare reforms, a rising incidence of breast cancer, substantial research and development investments in breast cancer therapies, and advancements in breast imaging technologies. Breast cancer is the most frequently diagnosed cancer in many Asian countries, with incidence rates increasing more rapidly than in Western countries due to lifestyle and dietary changes. The CDC underscores that breast cancer is prevalent among women in Asia Pacific, irrespective of their ethnicity or race. The growing prevalence of breast cancer, combined with the expansion of healthcare infrastructure in the region, is expected to drive overall market growth. 

Major companies operating in Global Breast Cancer Diagnostics Market are:

• Hologic Inc
• Genomic Health Inc
• Becton, Dickinson & Co
• Danaher Corp
• Koninklijke Philips NV
• QIAGEN NV
• Thermo Fisher Scientific Inc
• Myriad Genetics Inc
• Argon Medical Devices 
• F Hoffmann-La Roche Ltd

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“The global breast cancer diagnostics market is on the cusp of transformative changes driven by innovative technologies and a patient-centric approach. Precision medicine, liquid biopsies, AI integration, advanced imaging, and multi-omics data analysis are just a few of the trends shaping the future of breast cancer diagnostics. With collaboration, regulatory standards, and an emphasis on patient empowerment, the diagnostic market is poised to make substantial contributions to the early detection and effective management of breast cancer on a global scale,” said Mr. Karan Chechi, Research Director of TechSci Research, a research-based management consulting firm.

“Breast Cancer Diagnostics Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Type (Imaging, Biopsy, Genomic Tests, Blood Tests, Others), By Product (Platform-based Products (Next-generation Sequencing, Microarrays, PCR, Others), Instrument-based Products (Imaging, Biopsy)), By Application (Screening, Diagnostic and Predictive, Prognostic, Research, Others), By End-use (Hospitals & Clinics, Diagnostic Centers and Medical Laboratories, Others), By Region, and By Competition, 2019-2029F”, has evaluated the future growth potential of Global Breast Cancer Diagnostics Market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Breast Cancer Diagnostics Market.

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