Breast Cancer Market (By Therapy: Targeted Therapy, Hormonal Therapy, Surgery and radiation therapy, Biologic therapy; By Cancer Type: Hormone Receptor, HER2+; By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, Online Pharmacies, Others) - Global Industry Analysis, Share, Growth, Regional Outlook and Forecasts, 2022-2030

According to Nova one advisor, the global Breast Cancer market size accounted for USD 31.99 billion in 2022 and is estimated to achieve a market size of USD 70.61 billion by 2030 growing at a CAGR of 10.50% from 2022 to 2030.

Key Takeaways:

• The imaging segment held the largest revenue share in 2022 and the blood tests segment is expected to grow at the fastest rate
• By product, the instrument-based products segment accounted for the largest revenue share in 2022 due to government initiatives such as mandatory screening in developed countries such as the U.S., Canada, and the U.K. for women above 45 years of age, increasing the overall testing and screening of breast cancer
• The platform-based products segment is expected to witness the fastest growth over the forecast period. These tests are mostly used for assessing the efficacy of chemotherapy and targeted therapy in women
• By application, the diagnostic and predictive segment dominated the market in 2022 and the prognostic segment is expected to witness the fastest CAGR over the forecast period due to increasing collaborations and efforts for advancements in diagnostics
• The hospitals and clinics segment dominated the market in 2022
• The medical labs and diagnostics centers segment is expected to witness the fastest CAGR over the forecast period due to an increase in platform-based testing such as NGS, and PCR

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.

Companies are adopting strategies that allow them to use their resources to aid in the development of new products, as well as enhance their supply chain. In November 2019, Exact Sciences Corporation announced the acquisition of Genomic Health, which was expected to help enhance the company’s market position and offerings by acquiring its product portfolio. In January 2021, Hologic Inc. announced that it has agreed to acquire Biotheranostics for approximately US$ 230 million. Biotheranostics is a commercial-stage molecular diagnostics provider for breast and metastatic cancers.

The increasing launch of predictive and companion diagnostic tests for breast cancer is expected to boost the market growth. Recent launches in the segment include BRACAnalysis CDx by Myriad Genetics, which received FDA approval in 2018 as breast cancer companion diagnostics. In May 2019, QIAGEN introduced therascreen PIK3CA RGQ PCR Kit as a companion diagnostic for Novartis proprietary PIQRAY in guiding treatment decisions from tissue and liquid biopsy.

In January 2019, the Fujifilm Holdings Corporation introduced its Tomosynthesis Biopsy option for ASPIRE Cristalle mammography system. This technique was expected to enable physicians to detect breast cancers more efficiently compared to others by providing an enhanced 3D image and a digital mammogram.

However, there are specific risk factors associated with these imaging procedures. They involve administering high doses of fluorescent and barium contrast agents, as well as radiation exposure in the case of imaging and endoscopic procedures, which can cause several adverse effects such as nausea or diarrhea. The risks of ionizing radiation exposure associated with the use of CT, MRI, and X-rays, as well as the use of radioactive tracer injections in PET can limit the adoption of such screening procedures. Therefore, factors such as adverse effects of imaging act as a challenge for the companies in this market.

Report Scope of the Breast Cancer Market

Product Insights

The instrument-based testing segment dominated the market for breast cancer diagnostics and accounted for the largest revenue share of 75.7% in 2022. Imaging is the first choice for general population-based screening of breast cancer patients. A biopsy is performed for a confirmed diagnosis in all breast cancer patients. Many organizations such as the National Breast Cancer Foundation, Inc. are undertaking initiatives to spread awareness regarding breast cancer, the benefits of early detection, and available treatment options.

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. The market for breast cancer diagnostics is segmented into Next Generation Sequencing (NGS), microarrays, PCR, and others. The presence of commercialized products such as GeneReader NGS system, Ion GeneStudio S5 next-generation sequencing systems, and Ion AmpliSeq HD panels for targeted NGS and QIAseq Panel assays are responsible for market growth.

Application Insights

The diagnostics and predictive application segment dominated the market for breast cancer diagnostics and accounted for the largest revenue share of around 49.6% in 2022. The increasing trends of genetic testing may further contribute to the growth of the segment. An article suggests that around 25% of the women had genetic testing for cancer in 2019. Moreover, advancements in this field such as the development of biomarkers may support the growth of the market for breast cancer diagnostics.

The prognostic segment is expected to witness a significant CAGR over the forecast period. These tests are becoming increasingly important as they are being used to match patients with therapies. This, in turn, increases the survival rate of the patients substantially. This includes products like companion diagnostics. For instance, BRACAnalysis CDx by Myriad Genetic Laboratories, Inc. for Lynparza and Talzenna; PD-L1 IHC 22C3 pharmDx by Dako North America, Inc. (a part of Agilent Technologies, Inc.), and FoundationOne CDx by Foundation Medicine, Inc. (a part of F.Hoffmann La-Roche Ltd.)

End-use Insights

The hospitals and clinics segment dominated the market for breast cancer diagnostics and accounted for the largest revenue share of around 52.2% in 2022. The increasing hospitalization of patients and the growing burden of the disease are expected to propel the growth of the segment. After the screening test, patients undergo biopsy for confirmatory testing in hospitals. Moreover, PET, CT, and MRI are used for checking disease progression and for the assessment of the effectiveness of cancer treatment.

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. Many healthcare institutions are working with laboratories to integrate different tests, such as mammography, ultrasound, and MRI.

Type Insights

The imaging segment dominated the market for breast cancer diagnostics and accounted for the largest revenue share of 75.6% in 2022. The factors such as the large volume of procedures, easy accessibility, and enhanced effectiveness are anticipated to drive the market. The most common imaging procedures carried out for screening and diagnosis are mammogram, ultrasound, and MRI. Furthermore, quite a few advanced emerging imaging techniques such as breast tomosynthesis, Molecular Breast Imaging (MBI), CT, and PET, among others for breast cancer diagnosis, are expected to change the landscape of breast imaging.

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. The high efficacy of liquid biopsy tests is expected to drive the growth of the blood tests segment. As per a research published by the American Association for Cancer Research in April 2022, DNA blood tests are effective in the early diagnosis of breast cancer.

The blood test analyzes very small amounts of tumor DNA, called circulating tumor DNA, floating in the bloodstream. Researchers at MSK have found mutations in two extra genes PTEN and ESR1, that foster resistance to estrogen-blocking drugs using the liquid biopsy.

Regional Insights

North America dominated the breast cancer diagnostics market and accounted for the largest revenue share of 46.9%, in 2022. The major factors contributing to the dominance of this region are the presence of major players, well-established diagnostic and screening infrastructure, technological advancements, high patient awareness, and favorable reimbursement policies.

In Asia Pacific, the market for breast cancer diagnostics is expected to witness the highest CAGR during the forecast period owing to the increasing incidence of breast cancer and the adoption of advanced diagnostic techniques. Additionally, the improving reimbursement guidelines and rising healthcare infrastructure are also expected to support market growth.

Some of the prominent players in the Breast Cancer 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.
• F. Hoffmann-La Roche Ltd.

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Nova one advisor, Inc. has segmented the global Breast Cancer market

• Type

• Imaging
• Biopsy
• Genomic Tests
• Blood Tests
• Others
• Product
• Platform-based Products

• Next-generation Sequencing
• Microarrays
• PCR
• Others
• Instrument-based Products
• Imaging
• Biopsy
• Application
• Screening
• Diagnostic and Predictive
• Prognostic
• Research
• End-use
• Hospitals & Clinics
• Diagnostic Centers and Medical Laboratories
• Others

By Geography

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

Key Benefits for Stakeholders

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the global Breast Cancer industry analysis from 2022 to 2030 to identify the prevailing Breast Cancer industry opportunity.
• The market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the global Breast Cancer industry segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes the analysis of the regional as well as global Breast Cancer industry trends, key players, market segments, application areas, and market growth strategies.