The global breast imaging technologies market was valued at $ 3,737.8 million in 2020, and is projected to reach $8,133.8 million by 2030, registering a CAGR of 8.1% from 2021 to 2030.
Breast imaging is a technique used for obtaining high resolution images of breast tissues. It helps in the detection of breast cancer and other breast-related disorders at the initial stages. Breast imaging has become an important aspect of breast cancer diagnosis, as breast cancer is one of the leading causes of fatality among women.
The growth of the global breast imaging technologies market is majorly driven by increase in prevalence of breast cancer, government and private organization initiatives about early detection of breast cancer, surge in number of screening programs, and rise in demand for early diagnosis of breast cancer. For instance, in March 2020, the World Health Organization (WHO)reported that around 2.3 million women were diagnosed with breast cancer. Furthermore, in October 2021, the WHO launched women’s health chatbot along with messaging on breast cancer.
Furthermore, rise in number of women population drives the growth of the market. This is attributed to the fact that women population above the age of 45 years is highly vulnerable to breast diseases, which boosts the need for various breast imaging technology services. This factor is expected to notably contribute toward the growth of the global breast imaging technologies market.
In addition, development of medical imaging sector and rise in several approvals for breast imaging technologies drive the global breast imaging technologies market. In addition, increase in R&D activities in healthcare industry and development in medical imaging sectors are anticipated to provide lucrative opportunities for the market expansion.
However, high cost required for detecting breast cancer and stringent regulatory approval procedures hinder the market growth. On the contrary, increase in awareness among population about early detection of breast cancer augments the growth of the breast imaging technologies market. This has further encouraged many key players to enter emerging markets, thus offering lucrative opportunities for the expansion of the breast imaging technologies market.
The breast imaging technologies market is segmented on the basis of product and region. Depending on product, the market is divided into ionizing breast imaging technologies and non-ionizing breast imaging technologies. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Some of the major companies that operate in the global breast imaging technologies market are Canon Inc., Carestream Health, Fujifilm Holdings Corporation, General Electric Company, Hologic, Inc., Koninklijke Philips N.V., Koning Corporation, Siemens Healthineers, SmartBreast, and Sonocin, Inc.
Breast imaging is a technique used for obtaining high resolution images of breast tissues. It helps in the detection of breast cancer and other breast-related disorders at the initial stages. Breast imaging has become an important aspect of breast cancer diagnosis, as breast cancer is one of the leading causes of fatality among women.
The growth of the global breast imaging technologies market is majorly driven by increase in prevalence of breast cancer, government and private organization initiatives about early detection of breast cancer, surge in number of screening programs, and rise in demand for early diagnosis of breast cancer. For instance, in March 2020, the World Health Organization (WHO)reported that around 2.3 million women were diagnosed with breast cancer. Furthermore, in October 2021, the WHO launched women’s health chatbot along with messaging on breast cancer.
Furthermore, rise in number of women population drives the growth of the market. This is attributed to the fact that women population above the age of 45 years is highly vulnerable to breast diseases, which boosts the need for various breast imaging technology services. This factor is expected to notably contribute toward the growth of the global breast imaging technologies market.
In addition, development of medical imaging sector and rise in several approvals for breast imaging technologies drive the global breast imaging technologies market. In addition, increase in R&D activities in healthcare industry and development in medical imaging sectors are anticipated to provide lucrative opportunities for the market expansion.
However, high cost required for detecting breast cancer and stringent regulatory approval procedures hinder the market growth. On the contrary, increase in awareness among population about early detection of breast cancer augments the growth of the breast imaging technologies market. This has further encouraged many key players to enter emerging markets, thus offering lucrative opportunities for the expansion of the breast imaging technologies market.
The breast imaging technologies market is segmented on the basis of product and region. Depending on product, the market is divided into ionizing breast imaging technologies and non-ionizing breast imaging technologies. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Some of the major companies that operate in the global breast imaging technologies market are Canon Inc., Carestream Health, Fujifilm Holdings Corporation, General Electric Company, Hologic, Inc., Koninklijke Philips N.V., Koning Corporation, Siemens Healthineers, SmartBreast, and Sonocin, Inc.
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.
Key Market Segments
By Technology
- Ionizing Breast Imaging Technology
- Non Ionizing Breast Imaging Technology
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- Japan
- China
- India
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
- CANON INC.
- Fluidigm Corporation
- Fujifilm Holdings Corporation
- General Electric Company
- Hologic, Inc.
- koning corporation
- Koninklijke Philips N.V.
- Siemens AG
- Smart Breast Corporation
- Sonocine Inc
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: BREAST IMAGING TECHNOLOGIES MARKET, BY TECHNOLOGY
CHAPTER 5: BREAST IMAGING TECHNOLOGIES MARKET, BY REGION
CHAPTER 6: COMPANY LANDSCAPE
CHAPTER 7: COMPANY PROFILES
LIST OF TABLES
LIST OF FIGURES
Executive Summary
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.
Companies Mentioned
- CANON INC.
- Fluidigm Corporation
- Fujifilm Holdings Corporation
- General Electric Company
- Hologic, Inc.
- koning corporation
- Koninklijke Philips N.V.
- Siemens AG
- Smart Breast Corporation
- Sonocine Inc
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 115 |
| Published | March 2022 |
| Forecast Period | 2020 - 2030 |
| Estimated Market Value ( USD | $ 3737.8 million |
| Forecasted Market Value ( USD | $ 8133.8 million |
| Compound Annual Growth Rate | 8.1% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
