Breast Imaging Technologies Market growth is largely driven by factors such as technological advancements, the rising prevalence of breast cancer, the increasing number of screening programs as well as rising number of conferences and symposiums focusing on spreading awareness about the benefits of early screening and diagnosis. The emerging markets, growing government and private investments to meet the increasing demand for breast cancer screening, and the improving reimbursement scenario are expected to present a wide range of growth opportunities for market players.
What the Market Looks Like?
Predicted to grow at a CAGR of 8.0% during the forecast period, the global Breast Imaging Market is estimated to reach USD 4.6 Billion by the end of 2023. In 2018, North America to dominate the breast imaging market during the forecast period.
Based on technology, the market is segmented into ionizing (mammography, PET-CT, MBI, and PEM) and non-ionizing (breast ultrasound, breast MRI, AWBU, and breast thermography), and other breast imaging technologies (CBCT, electrical impedance tomography, and optical imaging). The ionizing breast imaging technology segment accounted for the largest share of the breast imaging market during the forecast period. The large share of this market segment is primarily due to the technological advancements in ionizing breast imaging technologies and rising awareness about the early screening and diagnosis of breast cancer.
Based on type, the mammography market is classified into full-field digital mammography, 3D breast tomosynthesis, and analog mammography. The 3D breast tomosynthesis segment is expected to witness the highest CAGR during the forecast period. The growing demand for advanced screening technologies and increasing regulatory approvals for 3D breast tomosynthesis systems are the key factors driving the growth of this segment.
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What Drives the Market?
The growth of the global market for Breast Imaging is primarily influenced by the following factors:
- Growing Incidence of Breast Cancer
- Increasing Public-Private Investments, Funds, and Grants
- Increasing Awareness on Early Detection of Breast Cancer
- Growth in the Aging Population
Geographical growth scenario of Breast Imaging Market
Geographically, the Breast Imaging market has been studied for North America, Europe, Asia Pacific, and the Rest of the World. The North American region accounted for the largest share of the breast imaging market in 2018. The rising incidence of breast cancer, easy accessibility and high adoption of advanced diagnostic technologies (owing to the significant per capita annual healthcare expenditure in the US and Canada), and the rapidly increasing geriatric population in the region are some of the major factors driving the growth of the breast imaging market in North America.
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Leading market players and strategies adopted
The prominent players in the Breast Imaging market include Hologic, Inc. (US), GE Healthcare (US), Siemens Healthineers (Germany), Philips Healthcare (Netherlands), FUJIFILM Holdings Corporation (Japan), Aurora Imaging Technology, Inc. (US), Canon Inc. (Japan), CMR Naviscan Corporation (US), Delphinus Medical Technologies, Inc. (US), Dilon Technologies, Inc. (US), KUB Technologies Inc. (Kubtec) (US), Micrima Limited (UK), Planmed Oy (Finland), SonoCiné, Inc. (US), and SuperSonic Imagine (France).