Increasing awareness regarding breast cancer, improving healthcare infrastructure, and increasing government support in terms of policies and funding to drive the growth of breast imaging market.
Newark, April 21, 2022 (GLOBE NEWSWIRE) — As per the report published by The Brainy Insights, the global breast imaging market is expected to grow from USD 2.74 billion in 2020 to USD 6.36 billion by 2028, at a CAGR of 11.1% during the forecast period 2021-2028.
Breast imaging helps to define the lesion and screens the remainder of the breast for secondary lesions. Breast imaging is frequently used for mammography in today’s clinical practice, and these techniques enhance the radiologist’s ability to detect cancer, which is crucial in treatment planning and staging. Increasing prevalence of breast cancer among the developed and developing countries is primarily boosting the market growth. The breast imaging is also helpful for the detection of other breast-related pathologies such as inflammatory breast conditions and other non-cancer tumours.
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The purpose of breast screenings and imaging are to find breast cancers at an early stage. It is a sub-branch of diagnostic radiology, which involves a range of imaging procedures, including screening mammography, diagnostic mammography, breast tomosynthesis, MRI, and breast ultrasound. This technology offers organized screening to detect breast cancer at an early stage. Many newer types of tests are now being developed for breast imaging, including breast tomosynthesis, 3D mammography, which is currently being used in some hospitals and diagnostics centres. Other tests are still under the research and will take time to commercialize in the market.
Global breast imaging market is witnessing a rapid growth owing to increasing awareness about breast cancer across the globe. In addition to this, increasing government funding for the treatment of breast-related diseases, further boosting the growth of the market. In the U.S., breast imaging are directed and regulated under the Mammography Quality Standards Act (MQSA), which is positively influencing the market growth. Furthermore, mandatory insurance coverage for breast-related diseases, also driving the breast imaging market growth. However, the high cost required for breast cancer diagnosis through breast imaging systems and side effects of radiation exposure is anticipated to hamper the market growth over the forecast period.
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Major players in the global breast imaging market are Hologic, Inc., GE Healthcare, Siemens Healthineers, Philips Healthcare, Fujifilm Holdings Corporation, Aurora Imaging Technology, Inc., Canon Inc., CMR Naviscan Corporation, Delphinus Medical Technologies, Inc., Dilon Technologies, Inc., KUB Technologies Inc. (Kubtec), Micrima Limited, Planmed Oy, SonoCiné, Inc., and SuperSonic Imagine among others. The key players are now concentrating on implementing strategies such as adopting new technology, product innovations, mergers & acquisitions, joint venture, alliances and partnerships to improve their market position in the global breast imaging industry.
• In November 2019, Hologic, Inc. announced that the U.S. Food and Drug Administration (FDA) had approved 3DQuorum Imaging Technology, powered by Genius AI.
• In October 2018, GE Healthcare announced the introduction of Invenia Automated Breast Ultrasound (ABUS) 2.0 for dense breast imaging, the only FDA-approved ultrasound supplemental breast screening technology, specially designed for detecting cancer in dense breast tissue.
The ionizing breast imaging segment accounted for the significant market share of 56.36% in the year 2020
The technology segment is divided into ionizing breast imaging, non-ionizing breast imaging. The ionizing breast imaging segment accounted for the significant market share of 56.36% in the year 2020, as this is the most widely adopted technology for breast imaging. It is useful in detecting all type of breast cancers, including invasive ductal and invasive lobular carcinoma. Thus, many healthcare facilities are now adopting and installing ionizing breast imaging technologies and devices.
Mammography accounted for the largest market share and valued at USD 1.23 billion in the year 2020
The type segment includes mammography, breast ultrasound, breast MRI, biomarkers, positron emission mammography, image-guided breast biopsy, and others. Mammography accounted for the largest market share and valued at USD 1.23 billion in the year 2020. Mammography is one of the most widely used technology for breast imaging, owing faster diagnostics rates using mammography.
The diagnostic centre segment is projected to grow at the highest CAGR of 11.7% over the forecast period
The end-user segment includes hospitals and diagnostic centres. The diagnostic centre segment is expected to grow at the highest CAGR of 11.7% over the forecast period, owing to increasing diagnostics centres across the globe. In addition to this, diagnostics centres are now being equipped with advanced facilities and with well-educated staffs. Thus, many patients now prefer the diagnostic centres over the hospitals, which is expected to boost the market growth.
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Regional Segment Analysis of the Breast Imaging Market
• North America (U.S. , Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of the Europe)
• Asia-Pacific (China, Japan India, Rest of APAC)
• South America (Brazil and Rest of South America)
• Middle East and Africa (UAE, South Africa, Rest of MEA)
The North America region emerged as the largest market for the breast imaging market and valued at USD 1.09 billion in 2020. This is because North America is growing tremendously in terms of the healthcare industry. North America region has become the hub for the technological development and transformation of the industry. Due to the presence of several technical and pharmaceutical players in countries like Canada and the U.S., North America is projected to dominate the global breast imaging market on geographical front. The number of cancer patients in North America is rising from the past few years. Prostate and breast cancer are the most prevalent forms of cancer in the region, which is projected to drive the market growth in North America. The Asia Pacific region is expected to grow at the highest CAGR of 11.8% over the forecast period. This is mainly due to increasing awareness regarding breast cancer, improving healthcare infrastructure, and rising government support in countries such as China and India.
About the report:
The global breast imaging market is analyzed on the basis of value (USD billion). All the segments have been analyzed on global, regional and country basis. The study includes an analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, and competitor position grid analysis.
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