Global Breast Imaging Market - 2023-2030

Global Breast Imaging Market - 2023-2030

The Global Breast Imaging Market reached US$ 4.2 billion in 2022 and is projected to witness lucrative growth by reaching up to US$ 7.9 billion by 2030. The global breast imaging market is expected to exhibit a CAGR of 8.4% during the forecast period 2023-2030. The increasing technological advancements and the growing investments in novel products are driving up demand for breast imaging market trends.

The market for breast imaging includes modalities and applications that establish the existence of the products. Despite being more common in women, breast cancer can also affect men. Ultrasound, nuclear imaging MRI, mammography, and thermography are the breast imaging procedures most frequently used to detect breast cancer and associated diseases. The launch of new modalities and an increase in patients with cancer are the main factors propelling the global market for breast imaging.

The breast imaging market scope comprises application as breast cancer, breast diseases and others, which has increased the breast imaging market share. The global market for breast imaging is expanding as a result of factors including increasing research and development and their upcoming novel product approvals across countries are also creating a positive outlook for the breast imaging market growth.

Market Dynamics

Rising Technological Advancements will Drive the Growth of the Breast Imaging market

Mammography has existed as a crucial component of the radiologist's breast cancer imaging toolset. Since its creation, it has dramatically lowered the disease's mortality rates and is a crucial screening and diagnostic tool for the prompt identification of breast cancer.

Mammography has advanced alongside technology, going from film through digital mammography to digital breast tomosynthesis (DBT). To increase cancer detection rates, decrease false positives, and improve outcomes, each evolution has kept tackling the issues that radiologists face and the worries of patients.

Contrast-enhanced mammography (CEM), which may be the next development in breast imaging, is the result of this evolution. Although the technology was created almost 10 years ago, it has only lately begun to attract attention as a result of an emerging body of research that highlights its advantages over conventional supplementary imaging.

To help detect abnormalities in breast tissue, CEM uses the same contrast material as computed tomography (CT) technology. The contrast agent flows through the breast tissue via blood vessels and accumulates wherever lesions are forming and increasing, using similar physical imaging concepts as CT and magnetic resonance imaging (MRI).

Rising Research and Development and Novel Product Launches creates Lucrative Opportunities for Manufacturers

Women between the ages of 50 and 74 who have an average risk of developing breast cancer are advised by the USPSTF to undergo a mammogram once every two years. When to begin and how frequently to obtain a mammogram should be discussed with a doctor or another physician by women between the ages of 40 and 49.

For instance, in May 2022, Therapixel, an organization for women's health that creates AI-based software, unveiled MammoScreen 2D and 3D, its most recent version of which can use prior mammograms in analysis. By comparing its performance to earlier tests, MammoScreen becomes more effective.

Limitations Associated with Equipment Will Hamper the Growth of the Market.

Not every kind of breast cancer will be discovered with a 20-year breast cancer screening schedule of every two years. 77 women out of 1,000 who undergo a mammography every two years for 20 years will develop breast cancer. 21 of them will receive cancer diagnoses while having normal mammogram results.

This can happen if: every person with breast cancer will survive; The cancer was not detected on the mammogram; The cancer had not yet been established at the point of the mammography. It is predicted that 13 women out of 1,000 who receive mammograms every two years for 20 years will pass away from breast cancer. A mammography is an X-ray as well. Radiations are released during X-ray exams like with all others.

COVID-19 Impact Analysis

The COVID-19 epidemic and the worldwide lockdown have had an effect on the financial health of businesses in all industries. As a result, the U.S. Food and Drug Administration (FDA) released guidelines for the duration of the COVID-19 health emergency that include general considerations to assist sponsors and researchers, ensure trial participants' safety, follow good clinical practice (GCP), and reduce risks to trial integrity.

Russia-Ukraine War Impact Analysis

The Russia-Ukraine conflict is estimated to have a low impact on the global breast imaging market, owing to the low number of key market players in this region. However, the impact of the import and export of raw materials is expected to have little influence over the global breast imaging market growth over the forecast period.

Segment Analysis

The global breast imaging market is segmented based on modalities, application, end-user and region.

Breast Cancer From the Application Segment Accounts for 62.8% of the Market Share Owing to the High Incidence

Cancer is a condition when the body's cells proliferate out of control. Aside from skin cancer, breast cancer is the most common type of cancer in women in the US. Breast cancer remains the second-leading cause of cancer deaths amongst all women and is particularly prevalent among Hispanic women, despite a decline in the number of fatalities from the disease over time.

In the US, around 2,400 men and 264,000 women receive a breast cancer diagnosis each year. Each year, breast cancer claims the lives of 42,000 women and 500 men in the United States. Black women suffer from a higher breast cancer death rate than White women. Breast ultrasonography and mammography along with MRI can be helpful diagnostic tools.

According to recent studies, MRI can find some tiny breast tumors that mammography occasionally misses. Additionally, it can aid in the early detection of breast cancer in younger women with dense breast tissue and in those who have breast implants. Mammography might not be as useful in these circumstances. MRIs don't use radiation, so they can be used to screen people under 40 and increase the number of tests for people who are at elevated risk for breast cancer each year.

Geographical Analysis

North America Accounted for Approximately 39.6% of the Market Share Owing to the Strong Presence of Major Players and the Advancements in Breast Imaging

Manufacturers have chances to expand their operations in this region because of the rising demand for Breast Imaging for advancements in North America. The area has many producers and suppliers, and its rapid economic development has raised industrial production of Breast Imaging, which has increased the demand.

There are many manufacturers and suppliers in North America, and as a result of the region's rapid economic growth, industrial production has expanded, feeding the desire for research and development of novel products.

The market will grow as new technology for research and development emerge. Rising technological developments, governmental approvals, and the introduction of new products all contribute to growth. People are becoming more aware of novel products and therapies, leading to the expansion of the market in this region. These factors are responsible for the dominance of North America.

Competitive Landscape

The major global players in the breast imaging market include GE Healthcare, Siemens Healthcare GmbH, FUJIFILM Corporation, Koninklijke Philips NV, Hologic, Inc., Canon Medical Systems Corporation, Inc., General Medical Merate S.p.A., Konica Minolta Healthcare Americas, Inc., Metaltronica S.p.A and Planmed OY among others.

Why Purchase the Report?
• To visualize the global breast imaging market segmentation based on modalities, applications, end-user and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of breast imaging market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as Excel consisting of key products of all the major players.

The global breast imaging market report would provide approximately 53 tables, 54 figures and 195 Pages.

Target Audience 2023
• Manufacturers / Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies