Definition of Breast Imaging

Sound waves are used in the breast imaging procedure to produce images of the breast tissue. Utilizing radiological images and other medical technology, aids in the early detection of a wide range of breast problems. The tissue composition and blood flow in any breast regions that are worrying you can also be revealed. Our radiologists can decide how concerned they are about these findings using this information. Currently, breast MRI, ultrasound, and mammography are the three main methods of breast imaging that are frequently employed.

Global Breast Imaging Market: Key Insights

Global Breast Imaging Market Highlights Over 2023 – 2033

The global breast imaging market is estimated to garner a revenue of USD 9.0 Billion by the end of 2033 by growing at a CAGR of ~7% over the forecast period, i.e., 2023 – 2033. Further, the market generated a revenue of USD 4.0 Billion in the year 2022. The growth of the market can be attributed to the increasing prevalence of breast cancer. According to the World Health Organization, approximately 2.3 Million women were diagnosed with breast cancer in the year 2020. 

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Breast imaging is an imaging technique that creates images of breast tissue through the use of sound waves. Moreover, it can reveal the tissue composition and blood flow in any areas of your breast that are causing you concern. This information assists our radiologists in determining their level of concern about these findings. There are three major types of breast imaging that are commonly used at this time, such as breast MRI, ultrasound, and mammograms.  Therefore, a rise in early diagnosis is projected to increase the growth of the global breast imaging market. More than 60 percent of the women in most high-income countries are diagnosed with stage I and stage II.

Global Breast Imaging Market: Growth Drivers and Challenges

Growth Drivers

• Increasing Population Percentage– With the increasing population, there has been a rising number of breast cancer cases among them. Hence, it is expected to drive the growth of the global breast imaging market. According to the United Nations, the global population is expected to reach nearly 8.5 Billion in the year 2030.

• Growth of the Healthcare Industry– As per the Indian Brand Equity Foundation, the number of medical colleges accounted for 612 in India as of July 2022

• Increasing Incidence of Deaths – As per the World Health Organization, there were 685,000 deaths reported across the globe in the year 2020

• Rise in Healthcare Expenditure– According to the World Bank, the current health expenditure accounted for 9.83 percent of GDP in 2019 from 8.63 percent of GDP in 2000.

Challenges

• High Cost of the Breast Cancer Diagnosis

• Strict Regulatory Clearance Process

• Risks Related to Radiation Exposure

The use of ionizing radiation poses harm to the person's health even though the technology employed to detect breast cancer is the only method available for the diagnosis. This kind of radiation is employed in a variety of imaging procedures, including mammography, DBT, WBCT, BSGI, PEM, and CEM.

The global breast imaging market is segmented and analyzed for demand and supply by end users into hospitals & clinics, breast care centers, diagnostic imaging centers, and others. Out of these, the hospitals & clinics segment is anticipated to hold the largest share over the forecast period owing to the rise in the number of hospitals, and the increasing facilities provided by them. For instance, there were more than 8, 200 and 6,000 hospitals in Japan and the United States in the year 2020.

Global Breast Imaging Market Regional Synopsis

The market in the Asia Pacific region is projected to hold the largest market share by the end of 2033 on the back of increased detection of breast cancer cases, rising healthcare expenditure, and growing government initiatives in the healthcare sector. According to the data reported in 2020, breast cancer accounted for more than 13 percent of all cancer cases.

Market Segmentation

Our in-depth analysis of the global breast imaging market includes the following segments:

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Key Companies Dominating the Global Breast Imaging Market

Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global breast imaging market that are included in our report are Koninklijke Philips N.V., General Electric Company, Hologic, Inc., Siemens AG, Dilon Technologies, Inc., Koning Health, SonoCine, Inc., Fluidigm Corporation (Standard BioTools Inc.), Carestream Health, Inc., Micrima Limited, and others.

Global Breast Imaging Market: Latest Developments

• October 2018: Koninklijke Philips N.V., announced the launch of integrated breast ultrasound solutions for making examining faster and easier for clinicians and patients.

• December 2020: Hologic, Inc., announced the FDA clearance of the company's Genius AI detection technology for detecting cancer at an early stage.

Geography Analysis:

The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:

• North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
• Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys  & Opportunity Outlook
• Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Middle East and Africa  (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook

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