Breast Cancer Screening Market Size Worth $6,209.25 Mn, Globally, by 2027 at 4.8% CAGR - Exclusive Report by The Insight Partners

NEW YORK, Dec. 15, 2021 /PRNewswire/ -- According to the new market research report "Breast Cancer Screening Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Test Type (Blood Marker tests, Imaging Test, Genetic Test, Immunohistochemistry Test); End User (Hospitals, Diagnostic Centers, Cancer Institutes, Research Laboratories), and Geography", published by The Insight Partners, the global breast cancer screening market is expected to reach US$ 6,209.25 Mn by 2027 from US$ 4,638.63 Mn in 2019; it is estimated to grow at a CAGR of 4.8% from 2020 to 2027. Get the Latest COVID-19 Analysis on breast cancer screening market at https://www.theinsightpartners.com/covid-analysis-sample/TIPRE00009796

Breast Cancer Screening Market: Competition Landscape and Key Developments

Koninklijke Philips N.V., Hologic, Inc., BD, Myriad Genetics, Inc., Siemens Healthcare Gmbh, Exact Sciences Corporation, Oncocyte Corporation, POC Medical Systems, Danaher, and General Electric Company are among the key companies operating in the breast cancer screening market. These players are focusing on the expansion and diversification of their market presence and the acquisition of a new customer base, thereby tapping prevailing business opportunities.

• In March 2018, Philips and Hologic performed global partnership agreement to provide integrated imaging solutions for women's health. This partnership is likely to make it possible for clinics to obtain interconnected suites of medical imaging modalities, sophisticated engineering and extensive breast screening and testing facilities.
• In May 2018, Siemens Healthineers and ScreenPoint Medical has performed collaboration in designing breast imaging software focused on artificial intelligence. This joint partnership also includes Siemens Healthineers owning a strategic minority interest in ScreenPoint Medical.
• In August 2018, OncoCyte Corporation performed a partnership/collaboration process with Insight Genetics. This Partnership will increase the product portfolio in breast cancer imaging area.

North America held the largest share of the breast cancer screening market in 2019, and it is likely to continue its dominance in terms of market share during the forecast period. The US held the largest share of the breast cancer screening market in North America, and the growth of this market is ascribed to significant research and development spending for breast cancer, availability of advanced technologies, and greater emphasis on early breast cancer screening in the country. Further, the market in Canada and Mexico is expected to grow with increasing investments for early breast cancer diagnostics and rising government initiatives for its prevention and control.

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According to the WHO, the most common type of cancer incident in the US is breast cancer, and there were around 234,087 breast cancer cases and 41,904 deaths due to breast cancer in 2018. Furthermore, the American Cancer Society has estimated that there will be around 276,480 new cases expected in the United States in 2020.

Furthermore, many market players are conducting research and developing new products for breast cancer screening. For instance, in December 2019, Paragon Biosciences LLC, located in Chicago, US, established Qlarity Imaging LLC, US, which will develop QuantX, the innovative U.S. Food and Drug Administration (FDA)-cleared computer-aided breast cancer diagnosis system in radiology. Thus, the development of such technologies will advance the diagnostic techniques for breast cancer.

Moreover, the national breast and cervical cancer early detection program by the CDC offers early breast and cervical cancer screening and diagnostic services to low-income, uninsured, and underserved women and also supports strategies to increase screening rates. Thus, such programs can help diagnose breast and cervical cancer at the earliest stages.

Asia Pacific is expected to register the highest CAGR in the global breast cancer screening market during the forecast period. Countries such as China, Japan, and India are expected to be the major contributors to the market in this region during 2020–2027. The growth of the market in Asia Pacific is attributed to rising support from the government, increasing prevalence of breast cancer, escalating number of start-ups operating in the market, and widening reach of international players in the region.

Growing Breast Cancer Prevalence in Breast Cancer Screening Market:

Breast cancer is among the prime causes of deaths in the world, and it is profoundly affecting the quality of life. Thus, it acts as a burden on society if not diagnosed and treated on time. As per the estimations by the American Cancer Society, breast cancer is the most common type of cancer in the US as it caused morbidity in ~234,087 people and lead to 41,904 deaths in 2018. Further, ~276,480 new cases are expected in the country in 2020. As per the Globocan 2019 report, in Germany, the total number of breast cancer cases in 2018 was 71,888, and around the disease lead to ~19,376 deaths in that year.

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Further, as per the Globocan report, in 2018, there were ~367,900 new cases of breast cancer and 97,972 deaths due to the same in China. In India, NGOs, government agencies, and charity organizations are emphasizing on breast cancer awareness among population to promote early detection, provide comprehensive treatment module, and extend support for breast cancer management. Such initiatives are a result of the increasing prevalence of this type of cancer in the country. As per the Globocan report estimation, in 2018, India reported ~162,468 new breast cancer cases and 87,090 deaths due to the same.

Such growing prevalence of breast cancer in different regions around the world is raising the global demand for the screening devices for the same.

Breast Cancer Screening Market: Segmental Overview

Based on mobility, the breast cancer screening market is segmented into is segmented into blood marker test, imaging test, genetic test, andimmunohistochemistry test. The imaging test segment accounted for more than 46.96% of the market share in 2019. In terms of end user, the breast cancer screening market is segmented into hospitals, diagnostic centers, cancer institutes, and research laboratories. The hospitals segment held the largest share of the market in 2019.

The COVID-19 outbreak has disturbed various trades and businesses across the world. Due to coronavirus spreading, many cities are shutting down causing treatments and doctors appointment cancellation. Patients with serious health conditions, such as breast cancer needs physical distancing with others, however, delays in cancer treatments is distressing. According to the Breastcancer.org, In the United States, many doctors, hospitals and other healthcare facilities are delaying or canceling the breast cancer procedures, surgeries and sometimes screenings or other treatments, if it is not considered urgent, emergencies, or otherwise indicated for life-threatening conditions. Breast cancer patients are requested to social distancing as they are more prone to get infected with coronavirus due to weak immune system. Therefore, it is likely to affect breast cancer screening market owing to above mention points.

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