Breast Imaging Market to witness 7–9% CAGR growth amid contrast-based solutions demand by 2028

The Breast Imaging Market is projected to grow at a CAGR of 7-9% during the forecast period. The market is propelled by factors such as the increasing prevalence of breast cancer, growing focus on contrast-based diagnostic solutions, favorable environment for funding and grants, rising awareness about early breast cancer detection, and technological advancements in breast imaging modalities.

Breast imaging is a specialized field within diagnostic radiology, that focuses on capturing images of the breasts for either screening or diagnostic objectives.

Following are the types of breast imaging techniques:

• Mammograms: Utilizing X-rays, breast imaging for screening and diagnosis is conducted. Dedicated technologists ensure optimal technique, positioning, and compression to minimize radiation exposure. Mammograms often incorporate tomosynthesis, enhancing early cancer detection and reducing false alarms
• Ultrasound: It employs sound waves, and produces breast tissue images, disclosing composition and blood flow in suspicious areas. Specialized breast sonographers conduct accurate, painless ultrasounds as a standard follow-up to assess concerns identified in mammograms or exams
• MRI: For individuals diagnosed with or at high risk of breast cancer, MRI provides detailed, radiation-free 3-D breast images. It utilizes advanced 3T scanners for screening, staging, treatment assessment, and pre-surgery planning. Comfort measures, such as eye covers and warm blankets, enhance the 45-minute exam experience
• Image-guided Breast Biopsy: A minimally invasive breast biopsy involves extracting tissue for microscopic examination to detect cancer cells. Advanced imaging guides precise needle placement based on tumor characteristics

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Technological Advancements for Breast Cancer Detection Fuels the Market

The global breast imaging market is marked by technological advancements. Citing the lucrative prospects of the market, players have been launching innovative products in the market. For instance,

• In November 2023, GE HealthCare introduced MyBreastAI Suite to support clinicians with breast cancer detection and improved workflow productivity. The all-in-one AI platform is optimized for mammography and seamlessly integrates artificial intelligence (AI) applications from iCAD to aid clinicians in breast cancer detection and breast density assessment & notifications
• In September 2023, Siemens Healthineers presented Mammomat B.brilliant, a new mammography system with wide-angle tomosynthesis. The new system offers a unique combination of speed with high depth resolution and area resolution. It delivers high-quality 3D images in just five seconds
• In May 2022, iSono Health received U.S. Food and Drug Administration (FDA) clearance for ATUSA™ System for breast imaging, a first-of-its-kind compact automated whole breast ultrasound system featuring a unique wearable accessory and an intuitive software for automated image acquisition and analysis

Initiatives and Awareness Campaigns Drive the Demand for Breast Imaging

Breast cancer is one of the leading causes of cancer death among women health. It disproportionately affects women in low- and middle-income countries. To alleviate the burden of the disease, several initiatives and awareness campaigns are run globally, which are expected to drive the global breast imaging market. For instance,

• In 2021, the World Health Organization (WHO) launched the Global Breast Cancer Initiative (GBCI). The initiative’s objective is to reduce global breast cancer mortality by 2.5% per year, thereby averting 2.5 million breast cancer deaths globally by 2040. Some of the ways to achieve this ambitious target are to diagnose at least 60% of invasive breast cancers at an early stage (Stage I or II), have complete evaluation, imaging, and pathology of women who are suspected to have breast cancer within 60 days, and comprehensively treat at least 80% of women with breast cancer
• To increase awareness about breast cancer and to promote screening and prevention of the disease, October has been designated as Breast Cancer Awareness Month

Increasing Prevalence of Breast Cancer Drives the Global Breast Imaging Market

The prevalence of breast cancer is on the rise in both developed and developing nations, leading to an escalating demand for advanced instruments focused on early detection. Governments worldwide are increasingly emphasizing the importance of early breast cancer detection due to the growing number of cases. In a new study, researchers from the International Agency for Research on Cancer (IARC) and partner institutions predict that by 2040 the breast cancer burden will increase to more than 3 million new cases per year (an increase of 40%) and more than 1 million deaths per year (an increase of 50%). Breast cancer is the most commonly diagnosed cancer type, accounting for 1 in 8 cancer diagnoses globally. An expected rise in the burden of breast cancer is likely to drive the breast imaging market globally.

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Breast Imaging Market: Competitive Landscape   

Some of the key players operating in the global breast imaging market include Hologic, Philips, Siemens, GE Healthcare, Koning Health, Canon Medical Systems, Fujifilm, SonoCiné, among others. 

Organic and Inorganic Growth Strategies Adopted by Players to Establish Their Foothold in the Market 

Players operating in this market are adopting organic and inorganic growth strategies such as launching new products and services, acquiring related firms, and entering into collaborations to garner higher market share. For instance,  

• In December 2022, QT Imaging and GigCapital5 entered into a business combination agreement to bring breast and full-body imaging solutions to the public markets. In September 2022, QT Imaging received FDA 510(K) clearance for its QT Imaging Breast Scanner
• In November 2022, iCAD, Inc. entered into a strategic development and commercialization agreement with Google Health to integrate its artificial intelligence (AI) technology into iCAD’s portfolio of breast imaging AI solutions

The Breast Imaging Market is expected to gain further momentum in the coming years due to the introduction of new ionizing breast imaging technologies, a growing number of breast cancer initiatives and awareness campaigns, potential growth opportunities in emerging markets, and aggressive organic and inorganic growth strategies followed by the players. 

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