Breast Cancer Screening Test Market - Growth, Trends, and Forecast (2020 - 2025)
The breast cancer screening test market is expected to register a CAGR of 4.5% over the forecast period. Factors that are responsible for the growth of this market include the increasing awareness about the early detection of breast cancer, the growing incidence of breast cancer, and the increasing government initiatives and support.
Early detection of breast cancer can lead to desired outcomes, including increased survival rate, number of treatment options, and improved quality of life. And the rising incidence of breast cancer is helping the market to grow in the forecast period. As per the Breastcancer.org, about one in eight US women (about 12.4%) will develop invasive breast cancer over the course of their lifetime. In 2020, an estimated 276,480 new cases of invasive breast cancer are anticipated to be diagnosed in women only in the United States, along with 48,530 new cases of non-invasive breast cancer. Since there is a rising need for the breast cancer screening test across developing as well as developed nations, the demand for breast cancer screening tests is increasing which is leading to the growth of this market.
Key Market Trends
Imaging Test is Expected to Dominate in the Breast Cancer Screening Test Segment
The most commonly used screening test for breast cancer is the imaging test and these imaging tests are considered as the most reliable ones. Mammograms are the most widely used tests to screen breast cancer. Since mammography is the gold standard technique used to screen breast cancer, governments and other healthcare organizations around the world are taking initiatives to provide women, between the ages of 50 and 75, access to mammography screening. This is increasing the global demand for mammography while laboratory and blood tests and other imaging tests are gaining popularity. Digital breast tomosynthesis can increase the diagnostic accuracy of mammography and is used for the assessment of equivocal or suspicious mammography findings. Other modalities, such as ultrasound and contrast-enhanced magnetic resonance imaging (MRI) play an important role in the diagnostics, staging, and follow-up of breast cancer.
North America Dominates the Market and Expected to do Same in the Forecast Period
North America currently dominates the market for breast cancer screening test and is expected to continue its stronghold for a few more years. In the North American region, the United States holds the largest market share. This can be majorly attributed to the increasing incidence rates of breast cancer and rising awareness among the population for the early detection of cancer. The presence of the developed healthcare infrastructure is expected to propel the market in the United States.
The breast cancer screening test market is moderately competitive and consists of several major players. In terms of market share, a few of the major players currently dominate the market. With the increasing awareness among the population and rising advances in the screening test, a few other smaller players are expected to enter the market and may come to hold a substantial share. Some of the major players of the market are Allengers, Biocrates Life Sciences AG, Myriad Genetics, Hologic Inc., and Siemens Healthineers, among others.
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