Breast Imaging Market Size, Competitive Landscape and Market Forecast - 2029

SKU: DMMI878 | Last Updated On: Nov 03 2022 | Available Formats

> Breast Imaging Market Expected to reach a high CAGR of 8.8% By 2029: DataM Intelligence

Breast Imaging Market By Technology (Ionizing (Full-Field Digital Mammography, Analog Mammography, Positron Emission Mammography, Electric Impedance Tomography, Cone-Beam Computed Tomography, PositronEmissionTomography&Computed Tomography, 3D Breast Tomosynthesis, MBI/BSGI), Non-Ionizing (MRI, Thermography, Ultrasound, Optical Imaging, Automated Whole-Breast Ultrasound)), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029

 

Breast Imaging Market was valued at US$ 4,013.65 million in 2021 and is estimated to reach US$ 6,947.29 million by 2029, growing at a CAGR of 8.08% during the forecast period (2022-2029).      

Breast Imaging Market

Metrics

Details

Market CAGR

 8.08%

Segments Covered

By Modalities, By End-User, and By Region

Report Insights Covered

Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights.

Fastest Growing Region

Asia Pacific

Largest Market Share 

North America

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Breast imaging is used to obtain high-resolution visualization of breast tissues and associated diseases. Breast cancer is the leading cause of breast disease that requires immediate screening.

Breast cancer can occur in both men and women, though it is reported in females. The most common breast imaging tests used to determine breast cancer and related disease are ultrasound, mammography, nuclear imaging MRI, and thermography.

Market Dynamics

The increasing demand for breast imaging is due to the increasing incidence of breast cancer and growing awareness of breast health among people. Other factors aiding the market growth are the advancements in novel technologies and increasing research and development expenditure.

The increasing awareness, the number of novel product launches and the rising research and development will drive market growth.     

The global market for breast imaging is primarily driven by the growing awareness of breast health challenges. Other factors aiding the market growth are advancements in novel studies and increasing public-private investments, funds, and grants to increase awareness of the early detection of breast cancer and the aging population.

Opportunities in emerging economies offer high growth potential and technological advancements in the field. For instance, in Jul 2022, Canon Medical Systems USA, an innovative diagnostic imaging technology, announced its acquisition agreement with NCX Imaging, a distributor of medical imaging equipment. This will help Canon in expanding its distribution.

Various funding, novel technological advancements, and the number of the latest, innovative product launches are increasing, leading to the high demand for breast imaging. For instance, in Jan 2021, Hologic Inc. launched its SuperSonic MACH 30 and 20, a 3D ultrasound imaging system in Europe. This provides clinicians with ShearWave PLUS elastography 3D volumes with high-resolution B-mode to enhance the certainty of diagnosis.

The high costs associated with breast imaging systems will hamper the market’s growth.  

However, the high cost of breast imaging systems, unfavorable reimbursement scenarios, and side effects of radiation exposure may hinder the market growth of breast imaging. The cost of mammogram machine products is around $55,851.

COVID-19 Impact Analysis

The pandemic has negatively impacted global financial expectations, operations and crisis response strategy. The COVID-19 outbreak has severely impacted the healthcare industry. The breast imaging market has experienced huge losses due to COVID, as all the research and clinical trials got affected due to the emergency and main attention toward handling COVID. But now, the market participants are changing their long-term and short-term growth strategies by utilizing the research market and creating cutting-edge items to combat the pandemic. Various initiatives, collaborations and mergers are happening worldwide, boosting the market’s growth. For instance, in Oct 2021, Aurora Technology, Healthcare Global Holding Corp and Rock Orient Foundation Inc. announced their collaboration to develop a replicable as well as a sustainable ecosystem for handling global health issues like breast cancer.

Segment Analysis

The X-Ray source segment is expected to grow at the fastest CAGR during the forecast period (2022-2029)          

The X-Ray source segment is the highest market holder in the global breast imaging market. X-Ray source is further bifurcated into Mammography, Digital Breast Tomosynthesis and Contrast-Enhanced Digital Mammography. Mammography is a medical imaging technology that utilizes an X-ray system with a low dose to provide a detailed inside view of the breast. A mammogram is a mammography exam that helps in the early diagnosis of breast disease. This X-ray exam is highly helpful for doctors in diagnosing and treating breast medical conditions. During the test, the individual is exposed to ionizing radiation’s small dose that generates inside pictures of the body. This is a commonly used form of medical imaging.

The X-ray source segment dominates the market due to the rising global breast cancer disease. According to the World Health Organization report 2020, 2.3 million women were diagnosed with breast cancer, of which 685,000 deaths occurred globally. The rising number of people with breast cancer, regulatory approvals and growing technological advancements or research/clinical trial studies drive the market’s growth. For instance, in May 2022, Therapixel, a company for women’s health that develops AI-based software, announced its latest version of MammoScreen 2D and 3D, which can utilize prior mammograms in analysis. MammoScreen improves its performance by comparing it to previous examinations.

Geographical Analysis

North America holds the largest market share of the global breast imaging market.

North America dominates the global breast imaging market, primarily attributed to the rising prevalence of chronic ailments such as breast cancer. Established healthcare infrastructure and higher investment in R&D activities contribute to North America’s rapid share growth. Moreover, its broad base patient population also contributes to the growth of its share. According to the Centre for Disease Control and Prevention report 2021, the increase in breast cancer causes more deaths. Annually 266,400 breast cancer cases are diagnosed in the United States, of which 264,000 are women, and the, remaining are men. Annually 42,500 people die from breast cancer, of which 42,000 are women and 500, are men.

Moreover, extensive research activities are undertaken by the most prominent players in the area, and the early adoption of advanced medical technologies helps the regional market. Other factors, such as the high spending of GDP on healthcare, stimulate the market’s growth. Many key developments, technological advancements, collaborations and agreements are taking place in this region. For instance, in Sep 2022, GE Healthcare announced that AIR Recon DL for 3D imaging received clearance from U.S. Food and Drug Administration. This will provide various new benefits in all clinical procedures related to magnetic resonance imaging by enhancing image quality, covering all anatomies, and reducing the scan time.

Competitive Landscape

The breast imaging market is highly competitive with local and global companies’ presence. GE Healthcare, Siemens Healthcare, Philips Healthcare, Hitachi Medical Corporation, Fujifilm Holdings Corporation, Hologic, Inc., Canon Medical Systems USA Inc, Toshiba Corporation, Aurora Imaging Technology, Inc., Alpha Imaging and more. The key players are adopting various growth strategies such as product launches, mergers & acquisitions, partnerships, and collaborations, contributing to the market’s growth. For instance, in May 2021, Alpha Imaging, medical imaging equipment manufacturer and distributor and KA Imaging signed an agreement for distribution in the USA. Under this agreement, hospitals and medical facilities from 14 states can acquire Reveal 35C, a dual-energy, portable X-Ray detector from Alpha Imaging.

GE Healthcare:

Overview:

GE HealthCare is a subsidiary of General Electric, an American multinational conglomerate integrated into New York, founded in 1994 and headquartered in Chicago, Illinois. It manufactures and distributes various diagnostic imaging agents and radiopharmaceuticals that can be used for imaging modalities in some procedures, such as medical imaging.

­Product Portfolio:

SenoBright HD: SenoBright is a contrast-enhanced spectral mammography system that can be useful for breast care pathways as it’s a good alternative for breast MRI. SenoBright reduces false-positive results due to its high specificity feature.

Key Development: In Oct 2022, GE Healthcare introduced Omni Legend at the annual European Nuclear Medicine Associations meeting. This system is first on its all-novel and digital PET/CT platform as it features the latest, crystal-size digital BGO detector material category capable of providing two times more sensitivity than prior digital scanners.

The global breast imaging market report would provide access to approximately 40+ market data tables, 45+ figures, and 200 (approximate) pages.  

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