Breast Imaging Market Growing at a CAGR of 8.1% - Research Provides Detailed Analysis of Trends, Growth and Forecast

The Breast Imaging Market is projected to reach USD 5.4 billion by 2025 from USD 3.6 billion in 2020, at a CAGR of 8.1% during the forecast period.

The growth is largely driven by factors such as technological advancements, the rising prevalence of breast cancer, the increasing number of screening programsas well as rising number of conferences and symposiums focusing on spreading awareness about the benefits of early screening and diagnosis. The emerging markets, growing government and private investments to meet the increasing demand for breast cancer screening, and the improving reimbursement scenario are expected to present a wide range of growth opportunities for market players.

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The ionizing breast imaging segment accounted for the largest share of the breast imaging market, by technology, in 2019

Based on technology, the market is segmented into ionizing imaging technologies and non-ionizing imaging technologies. The ionizing breast imaging technology segment accounted for the largest share of the breast imaging market during the forecast period. The large share of this market segment is primarily due to the technological advancements in ionizing breast imaging technologies and rising awareness about the early screening and diagnosis of breast cancer.

Mammography to dominate the ionizing imaging technologies market during the forecast period

Ionizing imaging technologies segment is categorized into five subsegments, namely, mammography (analog mammography, full-field digital mammography (FFDM), 3D breast tomosynthesis), positron emission tomography-computed tomography (PET-CT), molecular breast imaging/breast-specific gamma imaging (MBI/BSGI), positron emission mammography (PEM), and cone-beam computed tomography (CBCT). Mammography is expected to account for the largest share of the ionizing breast imaging technologies segment during the forecast period. The major share of the segment is attributed to technological advancements and favorable reimbursement scenario in most of developed countries.

AWBU to register highest growth over the forecast period among non- ionizing imaging technologies

The non-ionizing breast imaging technologies market is further sub-segmented into breast MRI, breast ultrasound, automated whole-breast ultrasound (AWBU), breast thermography, electric impedance tomography, and optical imaging. The AWBU segment is expected to register highest growth over the forecast among the non-ionizing breast imaging technologies market over the forecast period. The significant growth of this segment is attributed to the advantages offered by the systems, technological advancements, and rising awareness about early cancer detection.

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North America to dominate the breast imaging market during the forecast period

The breast imaging market is segmented into five regional segments, namely, North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The North American region accounted for the largest share of the breast imaging market in 2019. The rising incidence of breast cancer, easy accessibility and high adoption of advanced diagnostic technologies (owing to the significant per capita annual healthcare expenditure in the US and Canada), presence of a favorable reimbursement scenario, and the rapidly increasing geriatric population in the region are some of the major factors driving the growth of the breast imaging market in North America.

The major players operating in the breast imaging market are Hologic, Inc. (US), GE Healthcare (US), Siemens Healthineers (Germany), Koninklijke Philips N.V. (Netherlands), Fujifilm Holdings Corporation (Japan), Canon Inc. (Japan), Aurora Healthcare US Corp. (US), Allengers (India), Dilon Technologies, Inc. (US), Planmed Oy (Finland), Delphinus Medical Technologies, Inc. (US), Micrima Limited (UK), CMR Naviscan Corporation (US), SuperSonic Imagine (France), and Carestream Health (US).

Hologic, Inc.holds the leading position in the breast imaging market, owing to its robust portfolio of breast imaging products and related accessories. Hologic has expanded its product portfolio through insight-driven innovation and strategic M&A to address to establish its position in the market. For instance, during the last three years, Hologic launched several systems and software, such as the Unifi Analytics (November 2019), the new Viera portable breast ultrasound system (February 2018), Brevera Breast Biopsy System with CorLumina Imaging Technology (January 2018), and 3Dimensions Mammography System in Europe (September 2017).

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