Number of pages: 120 | Report Format: PDF | Published date: 17 June, 2020
Historical Years – 2018 & 2019 | Base Year – 2020 | Forecasted Years – 2021-2031
Report Attribute |
Details |
Market size value in 2020 |
US$ 3.5 billion |
Revenue forecast in 2031 |
US$ 10.3 billion |
Growth Rate |
CAGR of 7.9% from 2021 to 2031 |
Base year for estimation |
2020 |
Forecast period |
2021-2031 |
Segments covered |
Technology, End User |
Regional scope |
North America, Europe, Asia Pacific, and the Rest of the World (ROW) |
The global breast imaging market was pegged at US$ 3.5 billion in 2020 and is expected to witness a CAGR of 7.9% during the forecast period.
Market Fundamentals
Breast cancer is one of the leading causes of death in women worldwide. Breast cancer can happen in both men and women. However, the incidence of breast cancer in men is approximately 100 times less than in women. Early detection of breast cancer can play an important role in the treatment and control of cancer. If breast cancer is diagnosed early, the survival rate is high. Studies have shown that early detection of cancer increases survival rates up to about 5 years. There are various types of breast cancer imaging techniques including mammography, digital tomosynthesis, contrast-enhanced mammography, sonoelastography, magnetic elastography, MRI, diffusion-weighted imaging, nuclear medicine, optical imaging, and microwave imaging.
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Market Dynamics
Rising prevalence of breast cancer, growing old age population, increasing awareness on benefits of early diagnosis, and growing public-private investment for developing imaging modalities are major factors fueling the growth of this market. Moreover, focus of players on technological advancements and new product launches are also playing a pivotal role in propelling the breast imaging market growth. However, stringent regulations policies for approval and high cost of breast imaging systems are some of the factors hindering the breast imaging market growth to a certain extent.
Market Ecosystem
The global breast imaging market has been analyzed from three perspectives: Technology, End User, and Region.
Breast Imaging Market by Technology
Based on technology, the breast imaging market has been segmented into ionizing technology and non-ionizing technology. Ionizing technology segment is further bifurcated into mammography, molecular breast imaging (MBI), positron emission tomography-computed tomography (PET-CT), positron emission mammography (PEM), and cone-beam computed tomography (CBCT). Mammography segment is further sub-segmented into 3D breast tomosynthesis, analog mammography, and full-field digital mammography (FFDM). Non-ionizing technology segment is further categorized into breast MRI, breast ultrasound, automated whole-breast ultrasound (AWBU), breast thermography, optical imaging, and electric impedance tomography. The non-ionizing breast imaging segment is anticipated to grow at the highest CAGR during the projected period. The advantages offered by these imaging technologies compared to ionizing breast imaging systems such as higher sensitivity, comparatively low cost, and easy accessibility is expected to increase the adoption of these systems in the coming years. Moreover, technological advancements and new product launches are also playing a crucial role in fueling the growth of this segment.
Breast Imaging Market by End User
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Based on end user, the market has been segmented into hospitals & clinics, diagnostic centers, and other end users. Diagnostic centers are expected to register the highest growth over the forecast period. The growth of this segment can be attributed to the increasing adoption of advanced systems at these centers and the rising awareness on early screening and diagnosis of cancer.
Breast Imaging Market by Region
Regionally, the global breast imaging market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW). North America held the largest share of the global breast imaging market in 2020. Growing old age population, the rising incidence of breast cancer, and higher awareness among the population on early diagnosis of breast cancer are some of the factors driving the market growth in this region. Moreover, launch of new products and favorable reimbursement scenario are some of the other factors boosting the breast imaging market growth in this region.
Competitive Landscape
Some of the prominent players operating in the global breast imaging market includes:-
Strategic Developments
The global breast imaging Market was anticipated to clock US$ 3.5 billion in 2020
The breast imaging market is projected to reach US$ 10.3 billion by 2031
Rising prevalence of breast cancer, growing old age population, increasing awareness on benefits of early diagnosis, and growing public-private investment for developing imaging modalities are major factors fueling the growth of this market
General Electric Company, Hologic, Inc., Siemens Healthcare, Koninklijke Philips N.V., Fujifilm Corporation, Planmed OY, Canon Medical Systems, Dilon Medical Technologies, Inc., Aurora Healthcare US Corp, Delphinus Medical Technologies, Inc.
The growth rate of breast imaging market is CAGR of 7.9% between 2021-2031
North America held the largest share of the global breast imaging market in 2020
*Insights on financial performance is subject to availability of information in public domain
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