Breast Imaging Market worth $6.6 billion | GE Healthcare (US), Hologic, Inc. (US), Siemens Healthcare GmbH (Germany), Koninklijke Philips N.V. (Netherlands)

Breast Imaging Market in terms of revenue was estimated to be worth $4.4 billion in 2023 and is poised to reach $6.6 billion by 2028, growing at a CAGR of 8.5% from 2023 to 2028 according to a new report by MarketsandMarkets™. The major factors driving the growth of this market include rising awareness campaigns, increasing public-private investments, and lucrative opportunities in emerging markets.

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Non-ionizing breast imaging technologies segment to register significant growth rate over the forecast period of 2023-2028

Based on the technology, the global breast imaging market is segmented into ionizing breast imaging technologies and non-ionizing breast imaging technologies. The non-ionizing breast imaging technologies segment is anticipated to register the highest growth rate over the forecast period. The ionizing breast imaging technologies segment accounted for the highest share of the breast imaging market in 2022.

Software & services segment accounted for the largest share of the breast imaging market, by product in 2022.

Based on product, the global breast imaging market is segmented into breast imaging systems, software & services, and accessories. Software & services segment accounted for the largest share of the market in 2022 and is expected to grow at the highest CAGR during the forecast period.

Factors such as the rising installation in end user facilities and introduction of novel software drive the growth of the market.

The hospitals and clinics segment accounted for the largest share of the breast imaging market, by end user, in 2022

Based on end user, the global breast imaging market is segmented into hospitals and clinics, diagnostic imaging centers, breast care centers, and other end users. The hospitals and clinics segment accounted for the largest share of the market in 2022. Consistent rise in the adoption of advanced instruments supporting early detection by different end users are driving the growth of this segment.

The Asia Pacific market to register the highest growth in the market during the forecast period

The Asia Pacific breast imaging market is anticipated to register the highest growth from 2023 to 2028. Major players in the market are focusing on expanding their manufacturing capabilities in the APAC. This region is consistently witnessing a rise in the adoption of high-end equipment, offering significant growth opportunities for the key players.

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Breast Imaging Market Dynamics:

Drivers:

Rising incidence of breast cancer

Restraints:

High equipment costs

Opportunities:

Growth potential in emerging countries

Challenges:

Errors in breast cancer screening

Key Market Players:

As of 2022, prominent players in the breast imaging market are GE Healthcare (US), Hologic, Inc. (US), Siemens Healthcare GmbH (Germany), Koninklijke Philips N.V. (Netherlands), and FUJIFILM Holdings Corporation (Japan).

Recent Developments:

In 2021, Hologic launched a new ultrasound system, SuperSonic MACH 20. This system enhances diagnostic accuracy as well as efficiency. It provides users with improved image quality along with innovative imaging modes.

In 2020, GE HealthCare introduced the industry's first contrast-enhanced guided biopsy solution for breast cancer patients. Serena Bright enables clinicians to access contrast guidance for conducting breast biopsy exams using the same mammography equipment.

In 2022, Siemens Healthcare GmbH expanded its ultrasound portfolio by launching refreshed Acuson family systems. These systems have enhanced clinical adaptability and can be used for routine purposes.

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