Breast Cancer Screening Market Expected to Reach at US$ 6,209.25 Million by 2027

Breast Cancer Screening Market is Segmented into Test Type, End User and Geography

NEW YORK, UNITED STATES, November 23, 2022 /EINPresswire.com/ -- The Insight Partners Latest Research for Report "Breast Cancer Screening Market Forecast to 2027" Focuses 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

According to a new market research study Breast Cancer Screening Market Forecast to 2027 – Covid-19 Impact and Global Analysis Test Type and End User—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; the market is estimated to grow at a CAGR of 4.8% from 2020 to 2027. The report provides trends prevailing in the global breast cancer screening market, along with the factors driving or hindering the market growth.

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Leading Performers:

The breast cancer screening market majorly consists of the players such as koninklijke Philips N.V., Hologic, inc., BD, Myriad Genetics, Inc., siemens healthcare Gmbh, exact sciences corporation Oncocyte Corporation Poc Medical Systems, Danaher, General Electric Among others. Several organic approaches, such as product launches, and expansion/relocation in the breast cancer screening Market, have resulted in the positive growth of the market. Product launches help the company to strengthen its product offering and the customer base, which allows the company to hold a strong position in the market. Similarly, utilizing expansion activities, it is easy to venture into untapped economies and use the opportunities being offered.

Below is the list of the growth strategies done by the players operating in the Breast cancer screening market:

Dec-2019: GE Healthcare has launched a contrast-enhanced mammography solution namely new Serena Bright, which is claimed to be the healthcare industry’s first contrast-enhanced mammography solution for biopsy

Oct-2018: GE Healthcare launched a product namely the Invenia Automated Breast Ultrasound (ABUS) 2.0 in the United States. The device is FDA-approved ultrasound supplemental breast screening technology, specifically designed for detecting cancer in dense breast tissue

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

Oct-2019: Exact Sciences Corp. Acquired the Genomic health. The aquitisition is likely to offer two of the strongest and fastest-growing brands in cancer diagnostics, Cologuard and Oncotype DX

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Segments:

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.

On the basis of end user, the breast cancer screening market has been segmented into hospitals, diagnostic centers, cancer institutes, and research laboratories. The hospitals segment held the largest share of the market in 2019, whereas the diagnostic centers segment is estimated to register the highest CAGR in the market during the forecast period.

Breast cancer screening plays a significant role in determining the suitable treatment procedure, along with the pace required for the same. Early detection can help in reducing the mortality rates of cancer; hence, medical professionals, market players as well as government authorities are implementing new diagnostics and treatment facilities. Thus, the rise in investments and better reimbursement policies favor the growth of the breast cancer screening market. In October 2019, the Breast Cancer Research Foundation (BCRF) announced US$ 66 million to fund breast cancer research for the year 2019–2020. This grant is meant to support the work of ~275 scientists at leading medical institutions and academics around the world. Additionally, according to the BCRF, research studies on breast cancer have led to 40% dip in the deaths associated with the disease. Moreover, as per the American Recovery and Reinvestment Act of 2009 (ARRA), its funding is sponsoring research to understand and address the causes of cancer health inequalities. For instance, the Howard University Cancer Center and Johns Hopkins University Cancer Center have extended their partnership to carry research on cancer screening, diagnosis, treatment, prevention, and supportive care, with a particular focus on cancer incidence among African-Americans.

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