LONDON--(EON: Enhanced Online News)--Technavio market research analysts forecast the global breast biopsy market to grow at a CAGR of close to 11% during the forecast period, according to their latest report.
“Vendors are continuously focusing on providing awareness and knowledge about the diagnostic devices used to diagnose and treat breast cancer. For instance, Hologic actively advocates breast cancer awareness programs and has announced initiatives to be implemented in conjunction with its subsidiaries during the awareness program”
The market study covers the present scenario and growth prospects of the global breast biopsy market for 2017-2021. The report also lists needle-based biopsy systems, breast biopsy needles, and biopsy imaging guidance systems as the three major product segments. The breast biopsy imaging guidance systems dominated the market with close to 41% of the market share in 2016.
According to Barath Palada, a lead analyst at Technavio for medical devices research, “The increase in awareness and the high number of screening programs in both developed and developing countries are helping diagnose potential cases of breast cancer. The rise of technological advances in imaging such as MRI-guided breast biopsy and ultrasound-guided imaging solutions are expected to fuel market growth.
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Technavio healthcare and life sciences analysts highlight the following three market drivers that are contributing to the growth of the global breast biopsy market:
- Growing incidence of breast cancer
- Advances in breast imaging equipment
- Increase in awareness and screening programs
Growing incidence of breast cancer
The rising incidence of breast cancer is fueling the growth of the breast biopsy market worldwide. Breast cancer is the most common cancer prevalent in females and is the second most common cancer overall, after skin cancer. Breast cancer is found to affect men above 50 years of age and is rare in young women.
According to multiple research studies, in 2016, about 1.65 million to 1.72 million new breast cancer cases were recorded worldwide in 2012. There are comparatively more cases of breast cancer in less developed nations, amounting to 53%, which is driving physicians to adopt breast biopsies for the diagnosis and screening of tumors in the breast.
Advances in breast imaging equipment
Technological innovations have resulted in the development of new and improved products in the medical devices industry. Mammography and breast MRI are effective imaging tools used in the detection of breast cancer. There has been a shift from analog to digital imaging to generate more accurate images of the breast. In digital mammography, images are captured as a digital image, unlike analog mammography where the images are captured on films. 2D and 3D digital mammography (also known as a full-field digital mammogram) are benefiting women younger than 65 years of age as they are more accurate at detecting cancer in younger women.
Increase in awareness and screening programs
Breast cancer is the leading cancer among women in both developed and developing countries. Awareness programs and screening programs can help in diagnosing potential cases of breast cancer, which otherwise remain undetected till late stages. Every year about two million or more women are screened for breast cancer in the UK. The National Health Service (NHS) in the UK invites women aged between 50 and 70 every three years for breast screening program.
“Vendors are continuously focusing on providing awareness and knowledge about the diagnostic devices used to diagnose and treat breast cancer. For instance, Hologic actively advocates breast cancer awareness programs and has announced initiatives to be implemented in conjunction with its subsidiaries during the awareness program,” says Barath.
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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