Market Scenario
Breast Imaging Market Size was evaluated at USD 3.9 billion in 2022 and is expected to expand from USD 4.2 billion in 2023 to USD 7.98 billion by 2032, with a compound yearly growth rate (CAGR) of 8.3% over the forecast period (2023-2032).
Breast imaging includes tools and technologies for screening, diagnosis, and detection, of breast cancer. Latest imaging technologies aid in the determination of stage and location of cancerous cells. The increase in adoption of breast imaging solutions to determine types of breast cancer and its condition to design effective treatment can underpin the market rise. The involvement of multiple manufacturers in research and development of effective prognosis can promote the global breast imaging market across the forecast tenure.
However, causes, such as; stringent regulatory policies, and product recall can hamper the rise of the global breast imaging market.
Market Segmentation
The segment study of the global breast imaging market is based on technology and end users.
The technology-based segments of the breast imaging market are ionizing, and non-ionizing among others. The ionizing segment studied mammography, PET-CT, molecular breast-specific gamma imaging (BSGI) or molecular breast imaging (MBI), contrast enhanced spectral mammography (CESM), and cone beam computed tomography. The non-ionizing segment consists of breast ultrasound, breast thermography, breast MRI, electrical impedance imaging (EIT), and optical imaging. MRFR study states that the ionizing segment can secure the largest market share as physicians prefer opting for mammography for precise results.
The end user-based segments of the breast imaging market are specialty centers, and hospitals and clinics among others. The hospitals and clinics segment can register high CAGR, while the specialty centers can rise to acquire substantial profit by 2025. The worldwide market of breast imaging can be largely driven by technological advancements adopted by end-users to treat and contain surging cases of breast cancer. The introduction of symposiums and increase in conferences taken to spreading awareness about periodic screening and early diagnosis of cancer can contribute to the market rise. The favorable reimbursement scenario in hospitals can prompt market rise.
Detailed Regional Study
North America breast imaging market is expected to hold decent share of the overall market. The rapid rise in cases of breast cancer creating the need for innovative imaging solutions to offer accurate results are causes that are likely to contribute to the expansion of the regional market. The development of latest imaging devices by renowned medi-tech players and the existence of robust technical base in the North America region are forces that are likely to drive the market. The extensive application of imaging modalities; such as MRI, CT, and mammography, for breast cancer screening in the U.S., and the rise in emphasis on women healthcare are additional factors that can improve impetus of the US market.
In Europe, the breast imaging market trend is presumed to show exponential growth owing to escalation of funding in research and development activities. The U.K., is expected to earn high revenue for the regional market, following Germany. The extensive application of available breast imaging technologies, along with other critical medical devices, can promote expansion of the regional market. The powerful intent of marketers to develop new imaging devices to detect cancer at early stage is anticipated to contribute to the regional market expansion in the near future.
In Asia Pacific, the presence of numerous growth scopes as investors capitalize on the launch of new solutions can bolster APAC breast imaging market. The presence of some renowned companies in Japan, and India can add to the regional breast imaging market rise. The active spreading of awareness about breast cancer and increase in the deployment of modern medical devices for cancer screening are other causes that can favor the breast imaging market in the years to come. Moreover, the gradual expansion of healthcare imaging industry and surge in government support promoting women health can also contribute to APAC market surge. The improvement in diagnostic services and the gradual development of healthcare infrastructure are expected to provide thrust to APAC breast imaging market growth.
Key Players
Koninklijke Philips N.V. (Netherlands), FUJIFILM Corporation (Japan), GENERAL ELECTRIC COMPANY (US), Siemens Healthcare Private Limited (Germany), Hologic, Inc. (US), Dilon Technologies, Inc. (US), CMR Naviscan (US), SonoCiné (US), Supersonic Imagine (France), KUB Technologies (US), and PLANMED OY (Finland) are some major players in the global breast imaging market that are profiled by MRFR.
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
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