Dublin, Sept. 17, 2020 (GLOBE NEWSWIRE) -- The "Global Next-Generation Breast Cancer Diagnostic and Screening Market: Focus on Products, Technologies, Cancer Sub-Type, End Users, Country Data (14 Countries), and Competitive Landscape - Analysis and Forecast, 2020-2030" report has been added to ResearchAndMarkets.com's offering.
Global market for next-generation breast cancer diagnostics and screening market is predicted to grow at a CAGR of 13.12% over the forecast period of 2020-2030.
The market is driven by certain factors, which include the rising incidence of breast cancer patients inciting the development of rapid diagnostic assays, significant innovation resulting in a market pull, a shift from centralized to decentralized laboratories, and significant external funding for executing R&D exercises.
Key Questions Answered in this Report:
- What are the major market drivers, challenges, and opportunities in the next-generation breast cancer diagnosis and screening market?
- What is the potential impact of COVID-19 on the breast cancer diagnosis in terms of availability of resources such as physicians, laboratory staff and technological advancements?
- What are the noticeable drifts across various regional markets amidst the COVID-19 pandemic on the early-stage screening of breast cancer?
- What is the current market demand along with future expected demand trend of Next-generation breast cancer diagnostics services for various subtypes.?
- How the next generation diagnostics have helped genomic tests to become a prominent tool for breast cancer screening rather than an adjunct diagnostic tool?
- What are the key development strategies which are implemented by the major players in order to sustain in the competitive market?
- What are the key technologies that have been used by leading players in the market for the development of molecular diagnostic assays for early breast cancer screening and diagnosis?
- Who are the leading players with significant offerings to the next generation breast cancer diagnosis and screening market? What is the expected market dominance for each of these leading players?
- Which companies are anticipated to be highly disruptive in the future and why?
Market Dynamics
Growth Drivers
- Increasing Prevalence of Breast Cancer, Globally
- Increase in Adoption of Personalized Medicine for the Screening and Diagnostics of Breast Cancer
- Growing Focus on Breast Cancer Biomarker for Effective Screening and Prognosis
Market Challenges
- Uncertain Reimbursement Policies Pertaining to Breast Cancer Molecular Diagnostics
- Requirement of High Capital Investment Hindering Expansion
- Issues Related to Clinical Validity of Biomarker-based Tests
Market Opportunities
- Massive Scope for Adoption of Breast Cancer Molecular Diagnostics in Emerging Nations
- Technological Advancements in the development of Next Generation Breast Cancer Diagnostics
- Increased Use of Breast Cancer Diagnostics for the Development of Therapeutics Drugs and Comprehensive Treatment Plan
Competitive Landscape
The exponential rise in the application of precision medicine on the global level has created a buzz among companies to invest in the development of rapid diagnostics providing information on genetic mutation and patients good candidate for adjuvant chemotherapy or hormonal therapy. Due to the diverse product portfolio and intense market penetration, Abbott Laboratories has been a pioneer in this field and been a significant competitor in this market.
Several other companies such as F. Hoffman-La Roche Ltd, Myriad Genetics Inc., and Agendia, among others, have launched diagnostics assays for breast cancer, such as Foundation One CDx, EndoPredict, and Mammaprint, among others.
On the basis of region, North America holds the largest share of next-generation breast cancer diagnostics and screening market due to improved healthcare infrastructure, rise in per capita income, and availability of state-of-the-art research laboratories and institutions in the region. Apart from this, the Asia-Pacific region is anticipated to grow at the fastest CAGR during the forecast period.
Companies Mentioned
- Abbott Laboratories
- Agendia
- Agilent Technologies, Inc.
- Ambry Genetics
- Biocept, Inc.
- Biotheranostics, Inc.
- CENTOGENE N.V.
- Danaher Corporation
- Exact Sciences Corporation
- F. Hoffmann-La Roche Ltd.
- Fulgent Genetics
- Illumina, Inc.
- Invitae Corporation
- Lucence Diagnostics Pte Ltd
- Myriad Genetics, Inc.
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