Global Breast Imaging Market worth $5.13 Billion, Growing at a CAGR of 8.2% by 2024- Exclusive Report by Meticulous Research®
According to a new market research report “Breast Imaging Market by Technology [Ionizing (FFDM, Analog, 3D Mammogram, PEM, CT, CBCT, EIT), Non-Ionizing (Breast Ultrasound, Breast MRI, AWBU, Breast Thermography)], End User (Hospital, Diagnostic Imaging Center) – Global Forecast to 2024”, published by Meticulous Research®, the global breast imaging market is expected to grow at a CAGR of 8.2% from 2019 to reach $5.13 billion by 2024.
Previously, breast imaging was done using X-ray film, analog or other traditional mammograms; however, these products used to come with drawbacks such as inability to examine dense breast tissue, longer procedure for viewing mammogram, ability to capture only two images of each breast, and less allowance to undergo mammographic examination for woman over age 40. Thus, to overcome these drawbacks, digital mammography came into existence. These digital systems are able to capture tiny calcium deposits which may lead to cancer or any abnormality, with low dosage. Moreover, digital files can be easily enhanced and shared to clinicians at any locations. Most of the women aged 40 year & above prefer to undergo routine mammographic examinations as it is covered by health insurance in most of the countries. Though, there is emergence of digital mammography, not all systems are able to detect abnormalities in dense breast tissue. Therefore, researchers developed new technology called tomosynthesis, which can accurately determine breast cancer from dense breast tissue. Moreover, this technology reduces the patient recall rate up to 30%. Similarly, this technology has comparatively low cost because of less false positive and false negative errors. Such advancements in the breast imaging technology and growing awareness about the timely diagnosis of the disease for better care in women are driving the growth of breast imaging market. In addition, rising prevalence and incidence of breast cancer, increasing investment and funding in R&D for breast cancer treatments, and rising women aging population further drives the growth of the overall breast imaging market.
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The breast imaging market is primarily segmented on the basis of technology, end user, and geography. On the basis of technology, the overall breast imaging market is mainly categorized into two segments- Ionizing technology and Non-ionizing technology. The Ionizing technology market is further segmented into Full-Field Digital Mammography (FFDM), analog mammography, 3D Breast Tomosynthesis (DBT), Positron Emission Tomography/Computed Tomography (PET/CT), Molecular Breast-Specific Gamma Imaging (MBI/BSGI), Positron Emission Mammography (PEM), Computed Tomography (CT), Cone Beam Computed Tomography (CBCT), and Electric Impedance Tomography (EIT); whereas, non-ionizing technology segment is further segmented into breast ultrasound, breast MRI, Automated Whole-Breast Ultrasound (AWBS), breast thermography, and optical imaging.
On the basis of technology, ionizing technology is estimated to command the largest share of the overall breast imaging market in 2019, primarily due to their availability in the market from last many decades and continuous ongoing technological advancements to offer better results. On the other hand, non-ionizing technology is expected to grow at the highest CAGR, owing to their advantages such as enhanced safety, accurate detection of breast tumor location, and higher sensitivity for smaller breast lesion in dense breast women.
On the basis of end user, the overall breast imaging market is mainly categorised into hospitals, diagnostic imaging centers, and ambulatory surgical centres. Hospitals segment is estimated to command the largest share of the global breast imaging market in 2019. The factors such as higher purchasing power of hospitals, well-equipped operating & diagnostic rooms, presence of highly skilled healthcare professionals, better health coverage for hospital based healthcare services from various private and group insurance plans and therefore higher patient visits to hospital settings supported the their largest share of the overall market.
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Geographically, the global breast imaging market is segmented into North America (U.S. and Canada), Europe (Germany, France, the U.K., Italy, Spain, and RoE), Asia-Pacific (Japan, India, China, and RoAPAC), Latin America, and Middle East & Africa. With the accelerated economic growth in many countries and growing government focus on healthcare sector, Asia-Pacific breast imaging market is expected to grow at the highest CAGR from 2019 to 2024. In addition, rising incidence & prevalence of breast tumor, increasing health insurance penetration, and growing female aging population further expected to drive the growth of breast imaging market in this region.
The global breast imaging market is dominated by the top three companies- Hologic, Inc. (U.S.), GE Healthcare (U.S.), and Siemens Healthcare GmbH (Germany). These companies are leading the market owing to their strong brand recognition, diverse product basket, robust distribution and sales networks, and strong organic and inorganic growth strategies. Other key players operating in the global breast imaging market are Carestream Health Inc. (U.S.), Koninklijke Philips N.V. (The Netherlands), FUJIFILM Holdings America Corporation (U.S.), Canon Medical Systems Corporation (Japan), Hitachi Medical Systems (U.S.), Aurora healthcare US Corporation (U.S.), Dilon Technologies, Inc. (U.S.), CMR Naviscan Corporation (U.S.), Planmed Oy (Finland), and SonoCine Inc. (U.S.).
Browse key industry insights spread across 170 pages with 113 market data tables & 61 figures & charts from the report: https://www.meticulousresearch.com/product/breast-imaging-market-4959/
Key questions answered in Market report:
Rising prevalence of breast tumor in developing countries will boost the APAC breast imaging market
How does the penetration of ionizing technology-based breast imaging products in developed regions differ from developing countries like India, and China?
How is the competition between the major global and prominent local players in this market?
Which are the high growth market segments in terms of technology, end users, regions, and countries?
Hospitals are driving the adoption of breast imaging systems
How does the penetration of breast imaging systems differ among various end users?
Which are the major factors driving the growth of breast imaging market for hospitals?
Non-Ionizing technology is the fastest growing technology segment of this market
What factors are propelling the growth of non-ionizing technology market?
What factors contribute to the declining demand for ionizing technology?
The North American region has the largest adoption of breast imaging systems compared to other regions
Which technology-based product segments of the North American breast imaging market are expected to offer lucrative growth in the forecast period and why?
What are the major drivers, restraints, opportunities, challenges, and trends in the North American breast imaging market?
What are the geographic trends and high growth regions/countries?
Recent new product launches, partnerships, and acquisitions have taken place in the global breast imaging market
Which companies have recently merged/acquired and how will these unions affect the competitive landscape of the market?
Which companies have created partnerships and how will these partnerships promote a competitive advantage?
Who are the major players in this market and what share of the market do they hold?
What are the local emerging players in the global breast imaging Industry and how do they compete with the global players?
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