June 26, 2020
According to the research report titled ‘Breast Cancer Screening Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Test Type; End User, available with Market Study Report LLC, global breast cancer screening market was worth USD 4638.63 million in the year 2019 and is expected to register a growth rate of 4.8% during the forecast period. The market is estimated to be valued at USD 6209.25 million by the year 2027.
Increased pervasiveness of breast cancer and surging investments towards disease management solutions are major factors driving the growth of breast cancer screening market. According to American Cancer Society, breast cancer is the most common type of cancer in the U.S. with 234,087 people suffering from the disorder and 41,904 deaths in 2018. Moreover, around 276,480 new cases are expected to be registered in the country by the year 2020.
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Similarly, as per the report by Globocan, up to 71,888 people suffered from breast cancer in Germany, with 19,376 deaths owing to the disease in 2018. The report further stated that around 367,900 new breast cancer cases were recorded in China in 2018. The mortality number in China owing to the disease was around 97,972 in the same year.
As per test type, breast cancer screening market is bifurcated into immunohistochemistry test, genetic test, imaging test and blood marker test. The report states that imaging test segment accounted for a substantial market share in 2019 and is poised to amass appreciable returns in the ensuing years.
Citing the end-user landscape, the industry is divided into research laboratories, cancer institutes, diagnostic centers and hospitals. According to the report, hospitals segment held a majority market share in the year 2019 and is expected to register significant growth during the forecast period.
Regionally, India breast cancer screening industry is anticipated to showcase considerable growth in the subsequent years. High occurrence of breast cancer in India is augmenting the regional demand. In fact, according to Globocan report, around 162,468 new patients suffering from breast cancer were recorded in India in 2018, with up to 87,090 deaths caused by the disease. Additionally, numerous initiatives by public and private entities in order to create awareness regarding early detection and treatment of breast cancer are favoring the market scenario in India.
The prominent companies operating in global breast cancer screening market are POC Medical Systems, Danaher Corporation, OncoCyte Corporation, Myriad Genetics Inc., Hologic Inc., Koninklijke Philips N.V., Exact Sciences Corp., Siemens Healthineers AG and General Electric Company among others.