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The breast imaging technologies market size is estimated to grow by USD 2.23 billion at a CAGR of 8.51% between 2023 and 2028. Several key factors influence the market's growth. Firstly, there is a strong focus on early diagnosis and preventive medicine, driving demand for advanced screening technologies and diagnostic tools. Secondly, the growing prevalence of breast cancer cases is increasing the need for effective diagnostic and treatment solutions, further fueling market expansion. Lastly, the increasing number of mergers and acquisitions in the healthcare sector is enhancing companies' capabilities and reach, leading to more integrated and comprehensive healthcare offerings. These factors collectively underscore the importance of early detection, effective treatment, and strategic growth in the healthcare market.
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The market is critical for detecting and diagnosing breast-related disorders. Advanced methods like radiological pictures, breast ultrasonography, magnetic resonance imaging, and nuclear imaging are employed extensively in hospitals and diagnostic imaging centers. These diagnostic radiology tools help in identifying breast lesions and diagnosing invasive breast cancer cases. Technologies such as computed tomography scans, position emission tomography, and X-rays are essential in detecting cancer-related deaths among women. The market is driven by the demand for breast imaging equipment, automation, and AI, providing state-of-the-art equipment for both small-scale users and diagnostic centers. Increasing investment in diagnostic imaging devices by breast care centers underscores the commitment to enhancing breast health diagnostics. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The focus on early diagnosis and preventive medicine is one of the key drivers supporting the market growth. The incidence of chronic diseases, such as breast cancer, has now become high in low and middle-income countries including high-income countries as well. Around four out of 5 deaths are happening due to the occurrence of such chronic diseases in emerging countries.
Moreover, projections of future mortality rates and the burden of diseases show that chronic diseases will continue to be the most significant contributor to mortality and disability in high-income countries. Thus, the adoption of early diagnostic measures by health-conscious people and the utilization of advanced ultrasound technology are predicted to lower the mortality rate. This, in turn, will drive the growth of the market during the forecast period.
A growing focus on courses and medical exhibitions for breast imaging products is one of the primary trends fueling the market growth. For instance, WORLD CLASS CME released a course on Breast Ultrasound with Tom Stavros in 2019 to understand the use of ultrasound over other techniques concerning breast cancer diagnosis, which is an ongoing program in 2022.
Furthermore, the objective of this course is to make the target audience understand the anatomic and histopathologic basis for ultrasound appearances, the appropriate selection of ultrasound equipment for better diagnosis, and the correct classification of small invasive breast cancers while minimizing false-positive ultrasound examinations, among others. Thus, such a growing focus on courses and medical exhibitions for breast imaging will support the market growth during the forecast period.
Lack of knowledge and low adoption of ABUS is one of the challenges impeding the market growth. Many clinicians are unaware of their operational aspects and how to use ABUS to better visualize the cancer-prone area. Hence, they require extensive training concerning their use. Similarly, many end-users do not know about the advantages of opting for ABUS over other diagnostic and imaging systems for breast cancer.
Moreover, people usually opt for mammography for screening, and government programs for breast cancer screening generally use X-ray systems. However, ABUS may be used for dense breast tissues. Similarly, along with mammograms, many clinicians test for breast density using some density assessment software, thereby reducing the need for ABUS. This, in turn, will restrict the growth of the market during the forecast period.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
AURORA HEALTHCARE US Corp. - The company offers Aurora 1.5T Dedicated Breast MRI System that is designed specifically for breast imaging.
The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market share growth by the mammography segment will be significant during the forecast period. As the world population ages, an increasing number of women will reach the age of 60 years and beyond. Nearly 78% of all breast cancer-related fatalities occur in women aged 60 years and above.
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The mammography segment showed a gradual increase in the market share of USD 1.60 billion in 2018. It has a high incidence and fatality rate in this age range, indicating significant unmet demand for breast cancer diagnostics. Thus, the need for mammography is predicted to rise as the number of occurrences and fatalities increase. The geriatric women population, which is growing worldwide, and the increasing number of cancer-related deaths further drive the demand for breast imaging equipment. Hospitals and diagnostic imaging centers are significant end-users. This is projected to continue to be a primary driver for the growth of the mammography segment during the forecast period.
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North America is estimated to contribute 40% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The growing number of cancer-specialized hospitals and clinics will facilitate market growth in North America over the forecast period. The Medical Device Industry continues to invest in state-of-the-art breast imaging equipment, driving the growth of the market. The Screening Technology segment is a significant contributor to the Medical Imaging Sector, with mammograms and ultrasound being the most common imaging modalities. The increasing number of cancer-related deaths among women underscores the importance of early and accurate breast cancer diagnosis.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD Billion " for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
Mammography Market: Mammography Market Analysis North America, Europe, Asia, Rest of World (ROW) - US, Canada, UK, Germany, Japan - Size and Forecast
Automated Breast Ultrasound Systems (ABUS) Market: Automated Breast Ultrasound Systems (ABUS) Market by End-user and Geography - Forecast and Analysis
Advanced X-Ray Visualization Systems Market: Advanced X-Ray Visualization Systems Market Analysis North America, Europe, Asia, Rest of World (ROW) - US, Canada, Germany, UK, Japan - Size and Forecast
The market is evolving with advancements in ionizing technology and hybrid imaging methods like PET scans and CT scans. These technologies utilize ionizing radiations for detailed imaging, while innovations like 3D breast tomosynthesis offer improved diagnostics. The hospital segment benefits significantly from these advancements, with support from organizations like Mammography Educators. Artificial intelligence enhances the accuracy of breast magnetic resonance imaging and computed tomography scans, reducing diagnosis errors.
The market includes both ionizing breast imaging technologies and non-ionizing breast imaging technologies, addressing concerns like painful compressions in traditional methods. Breast imaging modalities now detect invasive breast tumors and differentiate between non-life-threatening tumors. Systems like X-ray mammography, Full-Field Digital Mammography (FFDM), Analog Mammography, and Contrast-Enhanced Mammography (CEM) are complemented by software and services, accessories, and advanced imaging techniques such as Positron Emission Mammography (PEM), Cone-Beam Computed Tomography (CBCT), Breast Thermography, Electric Impedance Tomography, and Optical Imaging.
Market Scope |
|
Report Coverage |
Details |
Page number |
140 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 8.51% |
Market growth 2024-2028 |
USD 2.23 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
7.67 |
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
Performing market contribution |
North America at 40% |
Key countries |
US, Germany, UK, Japan, and China |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
AURORA HEALTHCARE US Corp., Canon Inc., CMR Naviscan Corp., Delphinus Medical Technologies Inc., Dilon Medical Technologies Inc., FUJIFILM Corp., General Electric Co., General Medical Merate Spa, Hologic Inc., Koning Corp., Koninklijke Philips N.V., MEDI-FUTURE Inc., Metaltronica Spa, Micrima Ltd., Perlong Medical Equipment Co. Ltd., Shenzhen Anke High tech Co., Siemens AG, Sino Medical Device Technology Co. Ltd., SonoCine Inc., and Tualatin Imaging PC |
Market dynamics |
Parent market analysis, Market Forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for market forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Opportunity/Restraints
10 Competitive Landscape
11 Competitive Analysis
12 Appendix
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