Breast Cancer Diagnostics Market Growth Can Be Credited To the Increasing Prevalence of Cancer, 2028

Breast Cancer Diagnostics Industry Overview

The global breast cancer diagnostics market size is expected to reach USD 6.8 billion by 2028, according to a new study by Grand View Research Inc. The market is expected to expand at a CAGR of 7.0% from 2021 to 2028. The growth is largely attributable to the increasing geriatric population exposed to the risk of breast cancer and early detection coupled with increasing awareness about breast cancer.

The introduction of 3D mammography or digital breast tomosynthesis, which is more accurate than 2D mammography, supports market growth. This advanced technology can detect 40.0% more cancers than 2D mammograms and reduce patient recalls. Rapid technological advancements are a major factor expected to drive the market over the coming years.

Breast Cancer Diagnostics Market Segmentation

Grand View Research has segmented the global breast cancer diagnostics market on the basis of type, product, application, end-use, and region:

Based on the Type Insights, the market is segmented into Imaging, Biopsy, Genomic Tests, Blood Tests, and Others

• The imaging segment dominated the market for breast cancer diagnostics and accounted for the largest revenue share of 73.6% in 2020.
• The blood tests segment is projected to be the fastest-growing segment during the forecast period due to several research studies being carried out globally by the research organizations and major players.

Based on the Product Insights, the market is segmented into Platform-based Products and Instrument-based Products

• The instrument-based testing segment dominated the market for breast cancer diagnostics and accounted for the largest revenue share of 72.7% in 2020.
• The platform-based products segment is anticipated to witness the fastest growth over the forecast period, owing to the novelty of products and the higher preference of such products for the targeted therapy.

Based on the Application Insights, the market is segmented into Screening, Diagnostic and Predictive, Prognostic, and Research

• The diagnostics and predictive application segment dominated the market for breast cancer diagnostics and accounted for the largest revenue share of around 47.6% in 2020.
• The prognostic segment is expected to witness a significant CAGR over the forecast period.

Based on the End-use Insights, the market is segmented into Hospitals & Clinics, Diagnostic Centers and Medical Laboratories, and Others

• The hospitals and clinics segment dominated the market for breast cancer diagnostics and accounted for the largest revenue share of around 50.2% in 2020.
• The diagnostic centers and medical laboratories segment is expected to witness a significant growth rate over the forecast period due to an increase in the number of initiatives undertaken by governments to provide various services, such as reimbursement for diagnostic tests.

Breast Cancer Diagnostics Regional Outlook

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa (MEA)

Key Companies Profile & Market Share Insights

The key companies are adopting strategies such as mergers and acquisitions and partnerships, to acquire a larger market share, globally.

Some prominent players in the global Breast Cancer Diagnostics market include:

• Hologic Inc.
• Genomic Health (Exact Sciences Corporation)
• BD
• Danaher
• Koninklijke Philips N.V.
• QIAGEN
• Thermo Fisher Scientific Inc.
• Myriad Genetics
• Argon Medical Devices, Inc.
• Hoffmann-La Roche Ltd.

Order a free sample PDF of the Breast Cancer Diagnostics Market Intelligence Study, published by Grand View Research.