Thailand Breast Cancer Diagnostic Market Analysis

The Thailand Breast Cancer Diagnostic Market size stood at around xx Bn in 2023 and is projected to reach US $xx Bn by 2033, exhibiting a CAGR of xx% during the forecast period.

The Thailand Breast Cancer Diagnostic Market Analysis Executive Summary

Breast cancer is a malignant tumor that arises from breast cells, primarily affecting women but also occurring in men. It is characterized by uncontrolled cell growth, leading to tumor formation that can invade surrounding tissues and metastasize. 

The disease's prevalence is influenced by various factors, including genetic mutations, particularly in the BRCA1 and BRCA2 genes, which significantly increase risk; women with these mutations face a 55-65% and 45% chance of developing breast cancer by age 70, respectively. Lifestyle choices like obesity, alcohol consumption, and physical inactivity, along with age (most cases occur in women over 50) and family history, further elevate the likelihood of developing breast cancer. Environmental exposures to certain chemicals and radiation may also play a role, highlighting the multifaceted nature of this disease and the need for comprehensive understanding for effective prevention and treatment strategies.

Breast cancer is the most prevalent cancer among women worldwide. According to the World Health Organization (WHO), it accounted for approximately 2.3 million new cases in 2020, making up 11.7% of all new cancer cases globally. The American Cancer Society projects that in the US alone, there will be about 300,590 new cases of breast cancer in 2023, reflecting a steady increase in incidence rates, which is driving the Thailand breast cancer diagnostic market.

Market Dynamics for Breast Cancer Diagnostic Market in Thailand

Market Growth Drivers Analysis

The breast cancer diagnostic market is poised for substantial growth, driven by the rising incidence of breast cancer globally. According to the World Health Organization (WHO), breast cancer is the most commonly diagnosed cancer among women, with an estimated 2.3 million new cases in 2020. Advancements in diagnostic technologies, such as digital mammography, breast MRI, and liquid biopsy, are revolutionizing early detection and management, offering improved sensitivity and specificity compared to traditional methods. Increasing awareness campaigns and government initiatives, like the National Breast and Cervical Cancer Early Detection Program in the United States, are further propelling market growth by promoting screening and ensuring access to diagnostic services.

• Rising Incidence of Breast Cancer: The American Cancer Society projects that in 2023, there will be approximately 300,590 new cases of breast cancer in the United States alone.

• Advancements in Diagnostic Technologies: Innovative techniques like digital mammography, breast MRI, and liquid biopsy enable more accurate diagnoses and personalized treatment strategies.

• Increasing Awareness and Screening Initiatives: The National Breast and Cervical Cancer Early Detection Program provides low-income, uninsured, and underinsured women access to timely breast and cervical cancer screenings.

• Government Support and Funding: President Biden's reignition of the Cancer Moonshot aims to reduce the cancer death rate by half within 25 years and improve the lives of people with cancer and cancer survivors.

• Emergence of New Technologies: The adoption of artificial intelligence in imaging analysis is improving the accuracy and efficiency of breast cancer diagnosis.

These driving factors, supported by data from reputable organizations, highlight the significant growth potential of the Thailand breast cancer diagnostic .

Market Restraints

The breast cancer diagnostic market faces several restraints that can hinder its growth and accessibility. These challenges include high costs associated with advanced diagnostic technologies, disparities in access to healthcare services, and limitations in insurance coverage for specific diagnostic tests. Addressing these barriers is essential for improving patient outcomes and ensuring equitable access to breast cancer diagnostics.

• High Costs of Advanced Diagnostic Technologies: The expense of advanced diagnostic tools, such as MRI and genetic testing, can be prohibitive for many healthcare facilities, particularly in low-resource settings, limiting access to necessary diagnostic services.

• Disparities in Access to Healthcare: There are significant disparities in access to breast cancer diagnostic services, especially in rural and underserved areas, where patients may face delays in diagnosis and treatment.

• Insurance Coverage Limitations: Many health insurance policies impose restrictions on coverage for specific diagnostic tests, particularly advanced molecular diagnostics, which can lead to delays in diagnosis and treatment for patients.

• Lack of Awareness and Education: Insufficient awareness about the importance of early diagnosis among healthcare providers and patients can lead to late-stage diagnoses, complicating treatment options and reducing survival rates.

Competitive Landscape for Breast Cancer Diagnostic Market in Thailand

Key Players

• Hologic, Inc.
• Siemens Healthineers AG
• F. Hoffmann-La Roche Ltd.
• Becton, Dickinson and Company
• Danaher Corporation
• Myriad Genetics, Inc.
• Exact Sciences Corporation
• Illumina, Inc.
• Thermo Fisher Scientific Inc.
• Abbott Laboratories
• bioMérieux SA
• Agilent Technologies, Inc.
• Qiagen N.V.
• Guardant Health, Inc.

Recent Developments

In August 2024, Indica Labs, a leading provider of AI-powered digital pathology solutions, has announced the launch of Lung Macrodissect AI, a tool that the company says 'revolutionises' slide macrodissection and molecular pathology workflows.

The company says Lung Macrodissect AI represents a significant leap forward for the integration of artificial intelligence with digital pathology by offering pathologists a streamlined macrodissection workflow that minimises human error and improves efficiency.

In August 2024, Software company io9 has released data showing that its AI-powered biomarker test outperforms next-generation sequencing in first-line cancer treatment.

OncoGaze is an AI-based platform designed to identify biomarkers that can help determine the best initial treatment for cancer patients. DeepHRD is a specific biomarker test within the platform that detects homologous recombination deficiency (HRD), a genetic feature found in some cancers

Mergers and Acquisitions

In May 2024, Lunit, a provider of artificial intelligence (AI)-powered solutions for cancer diagnostics and therapeutics, today announced the successful completion of its acquisition of Volpara Health Technologies Ltd., a global developer of medical software for breast cancer screening. The landmark acquisition was completed in an eight-month timeline, and will advance cancer diagnostics and care, according to the Seoul, South Korea-based company.

Healthcare Policies and Regulatory Landscape for Breast Cancer Diagnostic Market in Thailand

Policy changes and Reimbursement scenario

Breast cancer diagnosis and treatment policies in North America are shaped by various public health initiatives, healthcare access programs, and insurance coverage regulations. These policies aim to improve early detection, treatment accessibility, and overall outcomes for patients.

Key Policies and Programs

National Breast and Cervical Cancer Early Detection Program (NBCCEDP):

This program provides free or low-cost breast and cervical cancer screenings to underserved women, particularly those with low incomes and without insurance. Over its 29 years, it has facilitated screenings for more than 6 million women.

Medicaid Expansion and Coverage:

The Affordable Care Act (ACA) expanded Medicaid eligibility, significantly increasing insurance coverage among working-age adults. States that adopted Medicaid expansion saw a reduction in uninsured rates and an increase in Medicaid coverage for cancer patients. For instance, Medicaid coverage among cancer cases rose from 14.1% in 2010 to 19.9% in 2019 in expansion states, while uninsured rates fell from 4.9% to 2.1%.