As per our report, the global breast imaging market size is anticipated to grow at 8.58% CAGR from 2019 to 2024. The global market was valued at USD 3.5 billion in 2019 and is forecasted to raise USD 5.3 billion by 2024.
In medicine, breast imaging is the representation or reproduction of a breast's form. There are various methods of breast imaging. Scintimammography is a type of breast imaging test that involves the detection of cancer cells in the breasts of some women who have had abnormal mammograms, or for those who have dense breast tissue, post-operative scar tissue or breast implants, but is not used for screening or in place of a mammogram.
Rising incidences of breast cancer across the world and growing prevalence for early diagnosis of disease are majorly propelling the growth of the global breast imaging market to the extent. Besides, the rise in the geriatric population, increasing initiative steps by the government in spreading awareness over the treatment procedures for breast cancer in rural areas are featuring to expand the growth of the breast imaging market. Also, the rise in the focus on determining dense breast tissue with these imaging techniques is spurring the demand of the market.
The emergence of the latest technological developments in the medical sector is solely to surge growth opportunities for the market. Rise in the investments from both government and non-government organizations, growing urbanized population and rising number of research and development institutes to introduce highly featured products are ascribed to bolster the demand of the breast imaging market. A rise in the spending on healthcare, increasing constructional activities of hospitals with advanced equipment to improve diagnosis and therapeutics procedures are straight impacting the market growth towards positive.
The cost for installation and maintenance of the devices is a bit expensive, and this has been a major challenging factor for the market developers. Lack of skilled persons in monitoring the systems effectively is slowly restraining the demand of the breast imaging market. The rise in the complexity in real-time applications and system failures are inhibiting the growth rate of this market. Frequent changes in the technologies may also decline the demand for the breast imaging market. These devices' exposure to high radiation where they show adverse effects on the patients is also impeding the growth of the market.
Market Size Available
2018 to 2024
2019 to 2024
By Technology and Region
Various Analyses Covered
Global, Regional & Country Level Analysis, Segment-Level Analysis, Drivers, Restraints, Opportunities, Challenges, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities
North America, Europe, Asia Pacific, Latin America, Middle East and Africa
This research report on the Global Breast Imaging Market has been segmented and sub-segmented into the following categories and analyzed market size and forecast for each segment until 2024.
Breast Imaging Market Analysis - By Technology:
Based on technology, the mammography segment accounted for the significant share of the market due to the technological advancements in the mammography instruments, for instance, the introduction of the portable and digital mammography instruments are expected to aid the market growth further. The digital mammography equipment provides advantages such as reduced examination times and space requirement for data storage, consequently leading the tomography segment to witness lucrative growth as compared to other imaging systems.
Regionally, North America held the largest market share due to the increased expenditure in the development of futuristic technologies coupled with the rising awareness amongst patients. Asia Pacific is expected to register the highest CAGR in the coming years. Acquisitions and new product development endeavours in the growing economies of India and China are expected to boost further the growth of the breast imaging market over the forecast period.
In addition to the growth in mature markets, emerging economies such as MEA and Latin America are also expected to witness lucrative growth over the forecast period. Factors such as improvements in the healthcare infrastructure, the rising investment, and the multi-national industrial growth within this region along with the increase in the number of government initiatives to raise awareness are driving the market growth in the developing regions.
TOP COMPANIES IN THE MARKET
Notable companies dominating the global breast imaging market are Hologic, Inc., GE Healthcare, Siemens Healthcare, Philips Healthcare, Fujifilm Holdings Corporation, Gamma Medica, Inc., Toshiba Corporation, Sonocine, Inc., Aurora Imaging Technology, Inc. and Dilon Technologies, Inc.
RECENT MARKET DEVELOPMENTS
In 2018, Hologic Inc. made innovations on the 3dimensional mammography system for which it has received approval from food and drug administration.
In 2017, Gamma medical molecular breast imaging (MBI) technology gained assets and intellectual property to expand breast PET imaging (BPI) solutions, and it is acquired by CMR Naviscan Corporation (US).
In 2017, Yokohama development centre in Tsurumi Ward, Yokohama was established by Canon Inc., (Japan) which is before elaborate its operation and business opportunities.
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3.1 Executive Summary
3.2 Key Inferences
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1.2 Ionizing Technologies
126.96.36.199 Digital Mammography
188.8.131.52 3D Mammography
184.108.40.206 Molecular Breast-Specific Gamma Imaging (MBI/BSGI)
220.127.116.11 Positron Emission Tomography and Computed Tomography (PET-CT)
18.104.22.168 Cone-Beam Computed Tomography (CBCT)
22.214.171.124 Positron Emission Mammography (PEM)
5.1.3 Non-ionizing Technologies
126.96.36.199 Breast MRI
188.8.131.52 Breast Ultrasound
184.108.40.206 Automated Whole-Breast Ultrasound (AWBU)
220.127.116.11 Breast Thermography
18.104.22.168 Optical Imaging
5.1.4 Y-o-Y Growth Analysis, By Type
5.1.5 Market Attractiveness Analysis, By Type
5.1.6 Market Share Analysis, By Type
6. Geographical Analysis
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
22.214.171.124 By Geographical Area
126.96.36.199 By Type
6.1.4 Market Attractiveness Analysis
188.8.131.52 By Geographical Area
184.108.40.206 By Type
6.1.5 Market Share Analysis
220.127.116.11 By Geographical Area
18.104.22.168 By Type
6.2 North America
6.1.2 United States
6.3.6 South Korea
6.5 Latin America
6.4.5 Rest of Latin America
6.6 Middle East & Africa
7. Strategic Analysis
7.1 PESTLE analysis
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8. Market Leaders' Analysis
8.1 Hologic Inc.
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 GE Healthcare
8.3 Siemens Healthcare
8.4 Philips Healthcare
8.5 Fujifilm Holdings Corporation Gamma Medica Inc.
8.6 Toshiba Corporation
8.7 Sonocine Inc.
8.8 Aurora Imaging Technolog Inc.,
8.9 Dilon Technologies, Inc.
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10. Market Outlook and Investment Opportunities
a) List of Tables
b) List of Figures