Breast cancer diagnostic devices sector set for growth

The U.S. market for breast cancer diagnostic devices will surpass $2 billion by 2020, driven by the growing prevalence of breast cancer, an aging patient population, and an increasing awareness of breast cancer and the need for early diagnosis, according to market research firm Pharmaion.

In addition, a favorable reimbursement environment is encouraging people to visit diagnostic laboratories and hospitals for breast cancer screening, Pharmaion's report claims. The sector will also be propelled by technological advances such as contrast-enhanced mammography, novel breast cancer diagnostic biomarkers, vacuum-assisted biopsy, and computer-aided detection for mammography, the company said.

Pharmaion segmented the U.S. breast cancer diagnostic devices market into three categories: screening and diagnostic imaging devices, lab diagnostic devices, and other. Screening and diagnostic imaging devices dominated the U.S. breast cancer diagnostic devices market in 2014, and the category is projected to continue its leadership position through 2020, according to the company.

On a regional basis, the southern region of the U.S. was the leading regional market for breast cancer diagnostic devices, followed by the Midwest, Pharmaion said.