The global breast cancer screening market size was US$ 5.1 billion in 2021. The global breast cancer screening market is forecast to grow to US$ 9.43 billion by 2030 by growing at a compound annual growth rate (CAGR) of 8.1% during the forecast period from 2022 to 2030.
Factors Influencing the Market
Breast cancer is among the most commonly seen cancer globally. The disease is mainly affecting women between the age of 50-70 years. In addition, the report by the American Cancer Society says that around 280,000 new breast cancer cases are forecast to be diagnosed in 2021. Thus, the growing prevalence of breast cancer will drive the breast cancer screening market forward.
Rapidly growing awareness related to the signs and symptoms of breast cancer, and the need for early screening and diagnosis will contribute to the growth of the breast cancer screening market during the study period.
The growing number of initiatives by governments worldwide will surge the growth of the breast cancer screening market. Other factors like increasing healthcare expenditure and growing individual spending on healthcare will contribute to the growth of the market.
Technological advancements will always remain a significant factor boosting the growth of the market. For instance, the launch of direct-to-consumer (DTC) testing by 23andMe (2018) is likely to gain traction during the forecast period.
The growing knowledge about insurance coverage and the wide range of affordable and convenient screening tests like physical tests, laboratory tests, imaging tests, and genetic tests will influence the growth of the market.
COVID-19 Impact Analysis
The global COVID-19 pandemic abruptly laid down the burden on the healthcare segment. The global healthcare industry witnessed the need to look over the COVID-19 emergency and postpone other cases until necessary. As a result, it halted the demand for breast cancer screening devices. In addition, the demand for breast cancer diagnosis, including mammography screening and treatment procedures, declined as people avoided visiting crowded places or places having high chances of virus transmission. Thus, global breast cancer screening witnessed drastic change due to the pandemic.
Regional Analysis
North America is forecast to dominate the global breast cancer screening market due to the high healthcare expenditure and increasing prevalence of breast cancer. In addition, the growing adoption of advanced technology and the contribution of favorable insurance policies will contribute to the growth of the breast cancer screening market.
The Asia-Pacific breast cancer screening market is forecast to register significant growth due to growing healthcare expenditure, rising healthcare infrastructure, and increasing cases of breast cancer.
Competitors in the Market
Market Segmentation
The global breast cancer screening market segmentation focuses on Test, End-User, and Region.
The breast cancer screening market has been segmented based on test type –
The breast cancer screening market has been segmented based on the end-user –
The breast cancer screening market has been segmented based on the region –
