As per the current market research conducted by the CMI Team, the global Breast Cancer Diagnostics Market size is expected to record a CAGR of 7.5% from 2024 to 2033. In 2024, the market size is projected to reach a valuation of USD 4.7 Billion. By 2033, the valuation is anticipated to reach USD 11.3 Billion.
Breast Cancer Diagnostics Market: Growth Factors and Dynamics
- Technological Advancements: Continuous innovations in diagnostic technologies, such as digital mammography, MRI, and molecular testing, contribute to improved accuracy and efficiency in breast cancer diagnosis.
- Emphasis on Early Detection: Growing awareness about the importance of early detection programs and regular screening drives demand for diagnostic services and encourages healthcare providers to invest in advanced diagnostic tools.
- Personalized Medicine: The shift towards personalized medicine approaches, including molecular profiling and genetic testing, drives the adoption of targeted therapies and necessitates advanced diagnostic solutions for treatment decision-making.
- Supportive Government Initiatives: Government initiatives promoting breast cancer awareness, screening programs, and funding for research and development support market growth and drive accessibility to diagnostic services.
- Strategic Collaborations: Partnerships between healthcare organizations, diagnostic companies, and research institutions foster innovation, accelerate product development, and expand market reach, driving market growth.
- Increasing Healthcare Expenditure: Rising healthcare expenditure, particularly in emerging economies, supports investments in healthcare infrastructure, including diagnostic facilities and equipment, driving market expansion.
- Growing Aging Population: The aging population, particularly in developed regions, contributes to the increasing demand for breast cancer diagnostics due to the higher incidence of cancer among older adults.
- Patient Advocacy and Education: Efforts by patient advocacy groups and educational campaigns contribute to increased awareness about breast cancer screening and diagnostic options, encouraging proactive healthcare-seeking behaviors and driving the market growth.
Breast Cancer Diagnostics Market: Partnership and Acquisitions
- In November 2022, Koninklijke Philips N.V. unveiled a next-generation compact portable ultrasound solution during the Radiological Society of North America (RSNA) annual meeting. This innovation aims to extend premium cart-based ultrasound system diagnostic quality to a wider patient base. The portable device, compatible with Philips ultrasound systems Affiniti and EPIQ transducers, enhances accessibility without compromising on image quality or performance, thereby expanding the company’s product portfolio.
- In November 2022, Siemens Healthineers and Atrium Health initiated a multi-year value partnership focusing on improving healthcare access and equity in the southeastern United States. Atrium Health is investing over $140 million in Siemens Healthineers equipment, including advanced imaging technology, radiation oncology, and precision endovascular robotics, amplifying the company’s business reach.
- In 2020, GE Healthcare forged a collaboration with GenesisCare to elevate patient outcomes in cancer and cardiovascular disease treatment. GE Healthcare supplied a range of diagnostic equipment, including CT, MRI, PET/CT, SPECT, digital mammography, and ultrasound systems, to GenesisCare’s extensive network of treatment centers across Australia, the US, the UK, and Spain.
- In 2020, Roche Diagnostics partnered with Illumina to broaden access to clinical oncology next-generation sequencing, enhancing diagnostic capabilities in cancer care.
Report Scope
| Feature of the Report | Details |
| Market Size in 2024 | USD 4.7 Billion |
| Projected Market Size in 2033 | USD 11.3 Billion |
| Market Size in 2023 | USD 4.4 Billion |
| CAGR Growth Rate | 7.5% CAGR |
| Base Year | 2023 |
| Forecast Period | 2024-2033 |
| Key Segment | By Type, Product, Application, End-Use and Region |
| Report Coverage | Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends |
| Regional Scope | North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America |
| Buying Options | Request tailored purchasing options to fulfil your requirements for research. |
Breast Cancer Diagnostics Market: COVID-19 Analysis
The COVID-19 pandemic has significantly impacted the breast cancer diagnostics market, causing disruptions across various aspects of screening, diagnosis, and treatment.
- Delayed Screenings and Diagnoses: Lockdown measures and overwhelmed healthcare systems led to the postponement of routine breast cancer screenings and diagnostic procedures. This delay in detection may result in the diagnosis of breast cancer at later stages, affecting treatment outcomes and survival rates.
- Reduced Patient Visits: Fear of exposure to the virus, coupled with restrictions on non-essential healthcare services, deterred patients from seeking timely medical attention for breast cancer symptoms. This decrease in patient visits further contributed to delayed diagnoses and treatment initiation.
- Shift in Healthcare Priorities: Healthcare resources and personnel were redirected towards managing COVID-19 patients, resulting in reduced capacity for breast cancer diagnostics and treatment. The reprioritization of healthcare services has led to challenges in accessing timely and comprehensive breast cancer care.
- Impact on Research and Development: Clinical trials and research activities related to breast cancer diagnostics may have been disrupted or delayed due to restrictions on laboratory access, participant recruitment, and funding constraints. These setbacks could impede the development of innovative diagnostic technologies and therapies for breast cancer.
- Adoption of Telemedicine: To mitigate the impact of the pandemic on breast cancer care, healthcare providers have increasingly utilized telemedicine and virtual consultations for patient evaluation and follow-up. While telemedicine offers convenience and safety during the pandemic, its effectiveness in breast cancer diagnostics and monitoring requires further evaluation.
- Resilience and Adaptation: Despite the challenges posed by the pandemic, the breast cancer diagnostics market has demonstrated resilience through the adoption of innovative strategies and technologies. Companies have accelerated the development of remote monitoring devices, digital health platforms, and AI-powered diagnostic tools to enhance diagnostic capabilities and ensure continuity of care amidst the pandemic.
Overall, while the COVID-19 pandemic posed challenges to the breast cancer diagnostics market, it also stimulated innovation and collaboration, paving the way for transformative changes in how breast cancer diagnostics are delivered and accessed.
List of the prominent players in the Breast Cancer Diagnostics Market:
- Hologic Inc.
- GE Healthcare (General Electric Company)
- Siemens Healthineers AG
- Abbott Laboratories
- Philips Healthcare (Koninklijke Philips N.V.)
- Roche Diagnostics International Ltd.
- Thermo Fisher Scientific Inc.
- Fujifilm Holdings Corporation
- Agilent Technologies Inc.
- Becton Dickinson and Company (BD)
- Myriad Genetics Inc.
- Bio-Rad Laboratories Inc.
- PerkinElmer Inc.
- Illumina Inc.
- BioNTech SE
- Others
The Breast Cancer Diagnostics Market is segmented as follows:
By Type
- Imaging
- Biopsy
- Genomic Tests
- Blood Tests
- Others
By Product
- Platform-based Products
- Instrument-based Products
By Application
- Screening
- Diagnostic and Predictive
- Prognostic
- Others
By End-Use
- Hospitals & Clinics
- Diagnostic Centers & Medical Laboratories
- Others
Regional Coverage:
North America
- U.S.
- Canada
- Mexico
- Rest of North America
Europe
- Germany
- France
- U.K.
- Russia
- Italy
- Spain
- Netherlands
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Taiwan
- Rest of Asia Pacific
The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of the Middle East & Africa
Latin America
- Brazil
- Argentina
- Rest of Latin America