Breast Imaging Technologies Market

Breast Imaging Technologies Market Statistics - 2030

The global breast imaging technologies market size was valued at $3,737.83 million in 2020, and is projected to reach $8,133.80 million by 2030, growing at a CAGR of 8.1% from 2021 to 2030. Breast imaging is defined as a sub-specialty of diagnostic radiology, which involves the imaging of breasts for diagnostic or screening purposes.  Breast imaging technologies are used to examine breast tissues in women for detection of breast cancer and other breast-related disorders. Mammograms, breast magnetic resonance imaging (MRI), and ultrasound are some of the most commonly used breast imaging tests. In addition, computed tomography scan (CT scan) and position emission tomography (PET) are recommended for the diagnosis of breast cancer. Mammography is defined as breast imaging technology, which uses low dose X-rays to diagnose the cancer at early stage, before the onset of symptoms.

The COVID-19 outbreak negatively impacted growth of the global breast imaging technologies market. The COVID-19 pandemic stressed healthcare systems across the globe. The breast imaging practice is profoundly affected by the COVID-19 pandemic. A number of clinics and hospitals were restructured to increase hospital capacities for patients diagnosed with COVID-19. Implementation of lockdown, owing to the COVID-19 outbreak resulted in decline in number of patient visits for other disease such as cancer, and diabetes, during the pandemic. According to the Eurasian Journal of Medical Investigation (EJMI), in 2020, around 41.7% -64.4% decrease in the number of breast imaging modalities were reported during April to July 2020. The sharpest decrease was detected in the mammography technology.

Growth of the global breast imaging technologies industry is majorly driven by increase in prevalence of breast cancer, rise in demand for early diagnosis, increase in funding from private & government organizations for development of healthcare infrastructure, and increase in number of women population. According to the Breastcancer.org, in 2021, it was reported that around 281,550 new invasive breast cancer cases were diagnosed in women in the U.S. In addition, as per the same source ,it was analyzed that around 1 in 8 U.S. women develops invasive breast cancer in her lifetime. Furthermore, increase in number of approvals for breast imaging technology drive the breast imaging technologies market growth. For instance, in April 2021, the U.S Food and Drug Administration (FDA), approved Seno Medical’s Imagio P200003 breast imaging system, which is used to image the breast tissue. It helps physicians to diagnose breast lesions.  

In addition, presence of key manufacturing companies to manufacture advanced breast imaging technology devices contributes toward growth of the market. For instance, in October 2021, Delphinus Medical Technologies, a medical imaging company, announced the U.S FDA premarket approval for SoftVue 3D whole breast ultrasound tomography system. It is used for breast cancer screening.  Moreover, increase in prevalence of women population aged above 45 years, who are more susceptible to breast cancer diseases, propel growth of the market. According to the American Cancer Society, it was observed that around half of the women aged above 62 years are diagnosed with breast cancer.

Furthermore, technological development in the medical device industry to manufacture advanced breast imaging technology is expected to provide breast imaging technologies market opportunity for expansion of the market during the forecast period. Moreover, increase in number of screening technology and rise in demand for early diagnosis propel the growth of the market.

Initiatives taken by government and private organizations to develop medical device industry drive the growth of the Breast Imaging Technologies Industry. However, high cost required for detecting breast cancer and stringent regulatory approval procedures restrict the market growth during the breast imaging technologies market forecast period.

Breast Imaging Technologies Market Segmentation

The breast imaging technologies market share is segmented into product and region. Depending on the product, the market is divided into ionizing breast imaging technologies and non-ionizing breast imaging technologies.

Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, India, and rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, South Africa, and rest of LAMEA).

Depending on product, the ionizing breast imaging technologies segment dominated the market in 2020, and this trend is expected to continue during the forecast period, owing to increase in number of approvals for mammography and screening procedures.However, the non-ionizing breast imaging technologies segment is expected to witness considerable growth during the forecast period, owing to increase in incidence of breast cancer among women and upsurge in technological advancements, such as development of automated ultrasound system.

North America dominated the breast imaging technologies market in 2020, and is expected to be dominant during the forecast period, owing to rise in prevalence of breast cancer, increase in number of approval for breast imaging technology, presence of key players, and development in technology in healthcare sector. However, Asia-Pacific is expected to register highest CAGR of 9.2% from 2021 to 2030, owing to increase in number of women population, rise in number of screening technology, and increase in demand for early diagnosis.

Key Benefits For Stakeholders

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the breast imaging technologies market analysis from 2020 to 2030 to identify the prevailing breast imaging technologies market opportunities.
• The market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the breast imaging technologies market size segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes the analysis of the regional as well as global breast imaging technologies market trends, key players, market segments, application areas, and market growth strategies.

 Breast Imaging Technologies Market Report Highlights