Breast cancer is one of the most common cancers among women, with an estimate of about 500,000 mortalities in 2011 according to the World Health Organization (WHO). Although Breast cancer is considered as a disease of developed countries, its prevalence is rising rapidly in the developing countries owing to urbanization and adoption of sedentary and stressful lifestyle. According to WHO, in 2012 an estimated of 70,000 females in India died due to Breast cancer, while in China about 48,000 deaths were recorded and in the U.S. 44,000 deaths were recorded for Breast cancer. The survival rate varies across the globe based on diagnosis time and rate along with the availability and affordability of services, with about 80% in North America and 60% in middle income countries. High prevalence globally has led doctors and scientists to take serious measures for early detection for the cancer so that proper care and treatment can be given to the patient.
Developing technology is adding various innovative devices which have helped in early diagnosis of cancers. Digital Breast tomosynthesis also referred to as 3D mammography, is one of the technologies being developed for detection and characterization of Breast lesions. The technique involves multiple projection images which allow visualization of thin Breast sections which reveals cancers buried within normal tissue, allowing better diagnosis of Breast cancer. FDA approval of digital Breast tomosynthesis, Selenia Dimensions System by Hologic, Inc. in 2011 has boosted the market. Quick adoption, fewer recalls and simultaneous market penetration supported the market growth. In 2013, GE received CE mark for SenoClaire, and entered the European market.
The company also plans for regulatory approval in the U.S. Currently the digital Breast tomosynthesis market has been more inclined towards North America and Europe where expensive devices can be afforded by medical institutes. An article published by The Boston Globe in 2012 mentions that by 2012 the device was sold to about 300 institutes in the U.S. According to the U.S. FDA, each year about 40 million mammography procedures are performed in the U.S. alone. These procedures may be replaced with digital Breast tomosynthesis as it is a better alternative and delivers better results.
As the demand for better Breast cancer diagnosis increases, the market will hold grounds in Japan, China, India and Brazil, which are considered to be the most profitable opportunities in the future. High cost of the device is the major restraining force for the market growth in Asia-Pacific and Rest of the World. Majority of the buying of expensive medical devices is supported by funding from investors and government. Hence these intermediaries will decide the fate of digital Breast tomosynthesis in the developing economies. Rising incidences of Breast cancer will also contribute to the market expansion in the future. Thus entry in this lucrative market is also easier, if the device has been successful in the U.S. market. Increasing trend for medical tourism in these regions will also pressurize medical institutes to upgrade to newer technology to deliver better medical services. Countries in Latin America such as Brazil, Mexico, Venezuela and Colombia are developing rapidly.
Regulatory scenario in these regions is also favorable, where most of the countries taking support of U.S. FDA and CE approvals. In Mexico, New Health Accord came into effect in the year 2010 which stated that medical devices approved in the U.S. or Canada will receive quicker approval in the country. Chile also demands no additional regulatory and accepts devices approved in the U.S. Key players in the market include Hologic, Inc., GE Healthcare, Siemens, and Dexela Ltd. (subsidiary of Perkin Elmer).
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.