Breast cancer diagnostic and drug technologies market to rise by 2.5%

The global breast cancer diagnostic and drug technologies market was valued at $21.2 billion in 2011, a decrease from $23.4 billion recorded in 2010. This market is expected to rise at a compound annual growth rate (CAGR) of 2.5% and reach $24 billion by 2016.

The market for breast cancer drugs reached $12.7 billion in 2010 and came down to $10.2 billion in 2011. The market is expected to reach $11.2 billion by 2016, a CAGR of 1.9%.

The quantitative immunofluorescence market reached $5.7 billion in 2010 and reached to $5.9 billion in 2011. The market is expected to reach $6.9 billion by 2016, a CAGR of 3.1%.

According to the National Cancer Institute, more than 200,000 women in the US are diagnosed with breast cancer annually. It is no longer necessary for one breast cancer treatment to fit all cases, a concept that should be welcome news for physicians and their patients alike.

As the population continues to age and the number of new breast cancer cases increases, the renewed importance on lowering healthcare costs will result in increased utilisation of cost-effective, accurate, early cancer detection and prevention technologies.

Next-generation imaging technologies that help lower the number of unnecessary biopsies while allowing for earlier detection with increased sensitivity and specificity over conventional mammography will be willingly adopted, and minimally invasive biopsy and genetic testing will continue to flourish.

Minimally invasive biopsy systems will be increasingly preferred over open biopsy due to the ability to lessen patient disfigurement and pain. At the same time, the genetic testing products market will benefit from several factors including the ability to assist clinicians in recommending preventive care for women at high risk of contracting breast cancer, while sparing existing breast cancer patients unnecessary painful or ineffective chemotherapy by aiding in the selection of the most appropriate treatment plan.

Personalised medicine is relatively new to the market research report format, and it provides business tools to evaluate new commercial opportunities in diagnostics and biomarker fields.

For more information on the breast cancer diagnostic and drug technologies market, see the latest research: Breast Cancer Diagnostic and Drug Technologies Market Report

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