Breast Imaging Technologies Market Expected to Reach $8.1 Billion by 2030

The global breast imaging technologies market size was valued at $3.7 billion in 2020, and is estimated to reach $8.1 billion by 2030.Breast imaging facilitates the detection of breast cancer and other breast-related diseases. These tests are used for screening and diagnosis of breast cancer among women. Factors that drive the breast imaging technologies market growth include rise in demand for screening procedure, advancements in the medical device industry, and surge in demand for early detection of disease. In addition, rise in prevalence of breast cancer contributes toward the growth of the global breast imaging technologies market. According to the Cancer.org, in 2021, invasive ductal carcinoma accounted for 70–80% of all breast cancer cases, which increases the need for breast imaging technology, thus driving the growth of the breast imaging technologies industry.

Market players focus on manufacturing of different breast imaging technologies to offer better analysis. Moreover, increase in prevalence of women population aged above 45 years and surge in need for regular breast imaging screening process accelerate the market growth. According to the cancer organization, in 2021, it was reported that around 80% of women aged above 45 years were diagnosed with breast cancer.

Moreover, rise in disposable income and development of the medical imaging sector for manufacturing of breast imaging technologies are anticipated to drive growth of the breast imaging technologies market. In addition, many clinical studies are being carried out on various types of technologies to evaluate  safety and efficacy, which are expected to propel the growth of the breast imaging technologies industry. For instance, in January 2022, Seno Medical Instruments announced the clinical trial for Imagio breast imaging system. It included 12 sites and 600 patients, with the goal of collecting data using an ultrasound device..

Rise in number of approvals for breast imaging technologies and increase in number of key players to manufacture breast imaging devices are the key factors that boost growth of the market.

The breast imaging technologies market size is segmented on the basis of technology and region. Depending on technology, the market is divided into ionizing breast imaging technologies and non-ionizing breast imaging technologies. The ionizing breast imaging technologies segment dominated the market in 2020, and this trend is expected to continue during the breast imaging technologies market forecast period, owing to increase in number of approvals for mammography and screening procedures.

KEY FINDINGS OF THE STUDY

• Depending on technology, the ionizing breast imaging technologies segment was the highest contributor to the market in 2020.
• Region wise, North America held the largest revenue of breast imaging technologies market share  in 2020, however, Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.

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 approvals for breast imaging technologies, and strong presence of key players. 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 awareness about breast cancer, surge in healthcare expenditure, and increase in demand for early diagnosis of breast cancer.