Breast imaging is a medical technology used to diagnose breast cancer in females. Breast imaging medical Market technology helps diagnose many breast-related disorders by providing radiological images of women’s breasts. imaging tools include nuclear imaging, mammography, ultrasonography, and attractive resonance imaging (MRI). The primary goal of this test is to detect breast cancer and other breast-related disorders as early as possible while they are still treatable.
The global breast imaging market size in 2021 was $4.14 billion, and by 2030, it will reach $8.79 billion at a CAGR OF 8.73% during 2021-2030.
Impact study on breast imaging market
COVID-19 has created various difficulties for cancer management, primarily assuring treatment continuity during this epidemic period. It has had a huge impact on healthcare systems and the economy in a short period of time. Diagnosis departments are sensitive and vital in cancer care for confirmation and therapeutic indications. Furthermore, the exceptional demand for hospital services during the SARS-CoV-2 (COVID-19) epidemic has significantly limited capacity for dealing with non-acute health needs, such as cancer care. The market is projected to be limited by a consistent delay or decrease in the number of cancer diagnostic cases.
Growth factors
Breast cancer is a leading cause type of cancer in women and one of the top three cancers worldwide. Breast cancer has become one of humanity’s most serious health issues. There are several breast cancer screening methods on the market. Early identification of breast cancer at an early stage improves patient survival. As a result, the rise in the prevalence of cancer is projected to raise the demand for imaging equipment. According to The American Cancer Society, about 287,850 new cases of invasive breast cancer in women will be detect in 2022. Breast cancer disease incidence is expect to rise as lifestyle changes and breastfeeding duration decrease, particularly in modern countries. As a result, demand for these imaging products is expected to rise over the forecast period.
By Type
Technological advancements such as molecular , digital mammography, optical imaging, electrical impedance imaging, and tomosynthesis are stimulating the overall growth of the market and are expect to grow during the forecast period.
Government efforts, such as breast cancer awareness campaigns and R&D funding, are expect to increase the industry.
organization
Every year, a non-profit organization in the United States called the National Breast Cancer Foundation, Inc. organizes the National Mammography Program, which offers free mammograms and diagnostic services for the early detection and treatment of breast cancer. Such programs will increase awareness related to the detection and treatment of breast cancer and drive the growth of the market.
Market restraints
Equipment costs play a significant role in the market’s expansion. The cost of breast imaging equipment is project to increase due to technological advancements in imaging equipment. Therefore, it is project that the market’s expansion will be hamper by the high cost of breast imaging equipment. For instance, the Hologic Dimensions 3D original equipment manufacturer’s pricing ranges from US$47,500 to US$53,750.
Market Opportunity
Governments all over the world are increasingly focusing on increasing funding for breast cancer screenings. Furthermore, the constantly increasing reimbursement policies for breast cancer screenings and treatments will likely provide sufficient growth prospects for market participants.
Segmentation analysis
- In terms of technology, the breast imaging market is segment into ionizing breast imaging and non-ionizing breast imaging technology.
Ionizing breast imaging technology is then segment into mammography, molecular breast imaging, positron emission tomography-computed tomography, cone-beam computed tomography, and positron emission mammography.
Non-ionizing breast imaging technology is segment into breast ultrasound, automate whole-breast ultrasound, breast MRI, electric impedance tomography, breast tomography, and optical imaging.
Breast Ultrasound
In 2020, the non-ionizing breast imaging segment ruled the entire breast imaging market with a constant CAGR. The ‘Breast Ultrasound’ sector held a significant share of the overall market among the ‘Non-ionizing Breast Imaging’ segment, with a total share of 58.71% of the total breast imaging market and a CAGR of 11.18%. Factors such as the lower danger of radiation exposure, and the vast array of benefits provided by breast ultrasonography, such as the capacity to detect the direction of blood flow through veins and the ability to differentiate between a cyst and a solid mass, are driving the segment’s overall growth.
By End-User
- By end-user, the breast imaging market is segment into hospitals & clinics, Diagnostic imaging centers, and breast imaging centers.
With a consistent CAGR, the “Hospitals & Clinics” sector considerably dominated the market in 2020. Increase government funding for breast cancer therapies and healthcare infrastructures, a higher rate of breast cancer patients being admit to hospitals, and the availability of highly skillful surgeons are all driving this market’s expansion overall.
Regionally the global
- Regionally the global breast imaging market is segment into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Because of the steady rise in the number of occurrences of breast cancer, North America held a significant position with a market share of 39.47% in 2020. According to the National Breast Cancer Foundation, there will be an expected 276,480 new cases of invasive breast cancer in women in the United States in 2020.
During the predicted period, the Asia-Pacific area had the fastest growth rate. Major factors stimulating the growth of the market are the increasing prevalence of breast cancers, the rising cost of healthcare, the rise of early detection programs, and the massive government spending on breast cancer research studies in several APAC countries.
Major players
Key players operating in the market are:
- Hologic Inc.
- Siemens Healthineers
- CMR Naviscan Corporation
- Micrima Limited
- GE Healthcare
- Canon INC.
- Koninklijke Philips N.V.
- Allengers
- Aurora Healthcare US Corp.
- Dilon Technologies, Inc.
- SuperSonic Imagine
- Carestream Health
- Other players
Recent development
- GE Healthcare collaborated with the National Cancer Centre Singapore in June 2022. By utilizing artificial intelligence and language processing, this collaboration aims to encourage the potential of more individualized cancer treatment alternatives and give patients the chance to analyze clinically important information during the patient journey.
- GE Healthcare reported that they are utilizing their USP of 3D Mammography and artificial intelligence to improve breast cancer screening. Annual mammograms for early identification of breast cancer have improved the lives of millions of women around the world. AI (artificial intelligence) and improved technology imaging will dramatically improve the quality of care and accuracy.
Technological advancements, the rising prevalence of breast cancer, the increasing number of screening programs. The increasing number of conferences focusing on spreading information about the advantages of early screening and diagnosis driving market growth. The emerging markets, increasing government and private investments to meet the increasing demand for breast cancer screening. The improving reimbursement scenario are expect to provide market participants with a wide range of growth opportunities.