Global Breast Imaging Technologies Market Overview:
Global Breast Imaging Technologies Market size was valued at $2,544 million in 2015 and is expected to reach $4,502 million by 2022, growing at a CAGR of 8.4% during the study period. This market is expected to witness significant growth during the forecast period owing to increase in incidence of breast cancer worldwide and proactive initiatives by healthcare organizations to raise awareness about early breast cancer detection. Moreover, improved reimbursement scenario for breast imaging modalities (such as breast ultrasound and 3D tomosynthesis which helps in the detection of breast cancer in women with dense breast tissue). In addition, launch of technological advanced modalities such as automated whole breast ultrasound system (AWBU) and MBI/BSGI) fuel the market growth. However, high cost of these modalities and stringent regulatory approval processes are expected to impede the breast imaging technologies market industry growth.
Breast imaging technologies are used to obtain high-resolution images of breast tissues. These imaging modalities, such as ionizing and non-ionizing imaging technologies, aid in the early detection and diagnosis of breast diseases, especially breast cancer in women.
Breast cancer is the second leading cause of death in women after cervical cancer. According to the estimates of GLOBOCAN, breast cancer is the most common form of cancer among women, with approximately 1.67 million new cancer cases diagnosed in 2012, and it is expected to affect more than 1.97 million individuals by 2020. Thus, the advent of breast imaging technologies is crucial to curtail the chances of breast cancer and its associated risk factors. Therefore, increase in prevalence of breast cancer is expected to increase the breast imaging technologies market share.
Asia-Pacific possesses high market potential for breast imaging modalities, owing to the rise in incidence of breast cancer and healthcare expenditure, and increased focus on raising awareness about early breast cancer diagnosis. For instance, Australia has one of the highest incidence rates in the Asia-Pacific region. Moreover, as projected by the Australian Bureau of Statistics, the geriatric population is expected to increase three folds from 2.8 million in 2007 to 7.5 million in 2050, thereby increasing the risk of aged people to develop breast cancer. Although a low incidence rate of breast cancer was observed in India (ASR of 25.8 in 2012), the mortality rate (an ASR of 12.7) is similar to the global average. This is attributed to the low awareness among people regarding early detection of breast cancer. Therefore, the aforementioned factors cumulatively are anticipated to increase the demand for breast imaging technologies in this region.
Ionizing breast imaging modalities are widely adopted for the screening of breast cancer. This segment is expected to witness significant growth in future owing to higher incidence of breast cancer. Moreover, technological advancements have led to the upsurge in the demand for these devices. For instance, digital breast tomosynthesis-a new technology-is used as an adjunct to address concerns related to mammography, such as missed cancers and false positive or negative results. In addition, the ability of these devices to generate 3D images of the breast tissue, which increases the detection rate of breast tumors, also contributed to their increased demand.
Key Benefits of the Report
- The study provides an in-depth analysis of the global breast imaging technologies market, with current trends and future estimations, to elucidate the imminent investment pockets.
- Quantitative analysis from 2014 to 2022 of all geographic regions is expected to enable the stakeholders to capitalize on prevailing breast imaging technologies market opportunities.
- The report provides actual historical figures for 2014 and Y-o-Y forecasts from 2016 to 2022, considering 2015 as base.
- Competitive intelligence highlights the business practices followed by leading players across various regions.
- Extensive analysis is conducted by closely following key product positioning and monitoring the top contenders within the market framework.
Breast Imaging Technologies Market Key Segments
The global breast imaging technologies market is segmented based on product and geography.
By Product Type
- Ionizing Breast Imaging Technologies
- 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)
- Cone Beam Computed Tomography (CBCT)
- Positron Emission Mammography (PEM)
- Non-Ionizing Breast Imaging Technologies
- Breast MRI
- Breast Ultrasound
- Optical Imaging
- Automated Whole Breast Ultrasound (AWBU)
- Breast Thermography
- North America
- Rest of Europe
- Rest of Asia-Pacific
- Latin America
- Middle East
The other players operating in the market include Aurora Imaging Technology, Inc., Carestream Health, Delphinus Medical Technologies, Inc., Micrima Limited, and Tualatin Imaging, P.C.