NEWARK, Del, Dec. 11, 2023 (GLOBE NEWSWIRE) -- The Europe breast and prostate cancer diagnostics industry is estimated to reach US$ 4,041.5 million in 2023 and US$ 5,030.1 million by 2033. Over the forecast period, breast and prostate cancer diagnostics demand across Europe is anticipated to increase at 2.2% CAGR.
Several factors are expected to drive growth across Europe during the assessment period. These include rising breast and prostate cancer prevalence, growing cancer awareness, easy access to testing centers, and funding for low-cost testing programs.
In recent years, there has been a spike in breast and prostate cancer cases across Europe, and the trend is expected to continue. This will likely create a high demand for cancer screening or cancer diagnostic tests, thereby boosting revenue.
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Advancements in cancer research are paving the way for developing novel breast and prostate cancer detection methods. This is expected to create revenue-generation opportunities for breast and prostate cancer diagnostics companies.
The growing research on biomarkers and their application in cancer profiling represents a pivotal advancement in the field of oncology. Researchers are increasingly focusing on identifying and validating a diverse range of biomarkers, including genetic, protein, and imaging-based markers, to provide a more comprehensive understanding of cancer biology and tailor therapies to individual patients.
Genetic biomarkers, such as mutations in genes such as BRCA1 and BRCA2 in breast cancer or EGFR in lung cancer, have gained significant attention. Next-generation sequencing (NGS) and polymerase chain reaction (PCR) can detect these genetic alterations.
Monitoring circulating tumor DNA (ctDNA) in liquid biopsies allows for real-time assessment of genetic changes within tumors, aiding in the early detection of resistance mechanisms and guiding treatment adjustments.
Predictive biomarkers can predict a patient's likely outcome, helping clinicians make informed treatment intensity and follow-up care decisions. The ongoing research on biomarkers fosters a paradigm shift towards personalized cancer medicine.
Key Takeaways from the Report:
- Breast and prostate cancer diagnostics revenue in Europe is expected to reach US$ 5,030.1 million by 2033.
- From 2023 to 2033, demand for breast and prostate cancer diagnostics across Europe is set to increase at 2.2% CAGR.
- Based on the test, the biopsy segment is projected to account for a revenue share of 50.7% by 2033.
- By indication, the breast cancer segment is anticipated to reach a valuation of US$ 2,552.6 million by 2033.
- By end user, the hospital-associated labs segment is estimated to hold about 43.5% share by 2033.
- Western Europe is expected to hold a value share of 63.5% by 2033.
- The United Kingdom is set to experience a CAGR of 1.5% through 2033.
- Demand in Spain is projected to increase at 3.1% CAGR between 2023 and 2033.
- Germany is predicted to attain a valuation of US$ 837.2 million by 2033.
“The evolving landscape of cancer biomarkers is shaping a personalized approach to oncology diagnosis, treatment, and prognosis. This is expected to create growth prospects for breast and prostate cancer diagnostics companies across Europe,” opines Sabyasachi Ghosh Associate Vice President at Future Market Insights (FMI).
Scope of the Europe Breast and Prostate Cancer Diagnostics Industry Analysis:
| Attribute | Details | ||
| Estimated Value (2023) | US$ 4,041.5 million | ||
| Projected Value (2033) | US$ 5,030.1 million | ||
| Predicted CAGR (2023 to 2033) | 2.2% | ||
| Forecast Period | 2023 to 2033 | ||
| Historical Data Available for | 2018 to 2022 | ||
| Industry Analysis | Value (US$ million) | ||
| Key Regions Covered | Western Europe, Eastern Europe, and the Rest of Europe | ||
| Key Countries Covered | Germany, France, Spain, Italy, BENELUX, Nordic Countries, United Kingdom, Poland, Hungary, Romania, Czech Republic | ||
| Key Segments Covered | Test, Indication, End User, and Region | ||
| Key Companies Profiled |
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Competitive Landscape:
Prominent companies employ a multifaceted approach to preserve their dominance, including an unwavering commitment to innovation, substantial investments in research and development, and the strategic introduction of novel products and services.
Recent Developments:
- In January 2023, Qian, a leading life sciences company, revealed its acquisition of Verogen, a DNA-biometrics firm. This strategic move aimed to enhance Qiagen's presence in the field of forensics, bolstering its portfolio in this sector.
- In June 2021, Bio-Rad Laboratories, Inc. announced a partnership with Seegene, Inc., a prominent player in multiplex molecular diagnostics worldwide.
Europe Breast and Prostate Cancer Diagnostics Industry Outlook by Category:
By Test:
- Tumor Biomarkers Tests
- PSA Tests
- CTC Tests
- HER2 Tests
- BRCA Tests
- Others
- Imaging
- Ultrasound
- Mammography
- MRI Scan
- PET Scan
- CT Scan
- SPECT & Others
- Biopsy
- Needle Biopsy
- Endoscopic Biopsy
- Bone Marrow Biopsy
- Others
- Liquid Biopsy
- CTCs (Circulatory Tumor Cells)
- ctNA (Circulating Tumor Nucleic Acid)
- Immunohistochemistry
- In Situ Hybridization
By Indication:
- Breast Cancer
- Invasive Ductal Carcinoma
- Ductal Carcinoma in Situ
- invasive Lobular Carcinoma
- Triple Negative Breast Cancer
- Others
- Prostate Cancer
- Adenocarcinoma
- Squamous Cell Carcinoma
- Transitional Cell Carcinoma
- Neuroendocrine Tumors
- Others
By End User:
- Hospital Associated Labs
- Independent Diagnostic Laboratories
- Diagnostic Imaging Centers
- Cancer Research Institutes
- Others
Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
Explore FMI’s related ongoing Coverage in the Healthcare Market Insights Domain:
Automated Breast Ultrasound Systems Market Size: The automated breast ultrasound systems market is estimated to capture a valuation of US$ 1.95 billion in 2023 and is projected to reach US$ 7.23 billion by 2033. The market is estimated to secure a CAGR of 14% by 2033.
Breast Cancer Drug Market Share: The global breast cancer drug market size is expected to be valued at US$ 10,733.1 million in 2023. The increasing prevalence of the disease, along with evolving novel therapies, are some of the key factors likely to drive the market. The overall demand for breast cancer drugs is projected to grow at a CAGR of 1.1% between 2023 and 2033, totaling around 12,012.1 million by 2033.
Breast Biopsy Market Demand: The current estimated value of the breast biopsy market is US$ 2146.54 million in 2022. By 2032, the breast biopsy market is anticipated to grow at a 5.3% CAGR and reach a value of US$ 3,596.7 million.
Breast Biopsy Devices Market Growth: The breast biopsy devices market is expected to reach US$ 3.6 Billion by the end of 2032, with sales revenue expected to register at 5.5% CAGR from 2022 to 2032, with an estimated market valuation to be around US$ 2.1 Billion as of 2022.
Breastfeeding Accessories Market Outlook: The global breastfeeding accessories market is projected to have a rapid-paced CAGR of 6.45% during the forecast period. The current valuation of the market is US$ 2.36 Billion in 2022. The market value of the breastfeeding accessories market is anticipated to reach a high of US$ 4.42 Billion by the year 2032.
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