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
Imaging Test Segment to Register Highest CAGR in Market during Forecast Period
According to The Insight Partners market research study named “Breast cancer screening Market Forecast to 2027 – Covid-19 Impact and Global Analysis by Test Type and End User,” the global breast cancer screening market is expected to reach US$ 6,209.25 Mn in 2027 from US$ 4,638.63 Mn in 2019. The market is estimated to grow at a CAGR of 4.8% from 2020 to 2027.The report mentions trends prevailing in the global breast cancer screening market along with the factors driving or hindering the markets.
The breast cancer screening market, by test type, is segmented into blood marker tests, imaging test, genetic test, and immunohistochemistry test. The imaging test segment held the largest share of the market in 2019; moreover, it is also anticipated to register the highest CAGR of 5.4% during the forecast period. Thus, advancement in technology of the imaging test for screening of breast cancer is leading to boost the growth of imaging test in the breast cancer screening market
The increasing prevalence of breast cancer, growing geriatric population, and rising adoption of technologies in screening are among the major factors driving the growth of the breast cancer screening market. However, challenges associated with the use of imaging test for screening of cancer and high cost of screening procedures are restraining the growth of the market. Further, bassinet on global business due to coronavirus pandemic is likely to have a short-term negative impact on the market growth.
Leading companies operating in the breast cancer screening market are Koninklijke Philips N.V.,., Hologic, Inc.,., BD, Myriad Genetics, Inc.,, Inc., Siemens Healthineers AG, Exact Sciences Corporation, Oncocyte Corporation, Poc Medical systems, Danaher, and General Electric Company, among others. These companies are focused on adopting organic strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in June 2017, Siemens Healthineers received Food and Drug Administration (FDA) approval for its product namely syngo.via VB20 which is likely to used for Molecular Imaging (MI). This launch is a new release of the company’s established intelligent visualization software for multi-modality imaging.
The report analyzes the breast cancer screening market segmented on the basis of following categories:
Breast Cancer Screening Market – by Test Type
Breast Cancer Screening Market – by End User
Global Breast Cancer Screening Market – by Geography