The Breast Imaging Market report published by Market Data Forecast provides a detailed account of the Market Trends via Customized Research presented as Strategic Analyses, Company Profiles, Competitive Landscape, etc. According to the report the Breast Imaging market is estimated to be USD 2.76 billion in 2016 and predicted to rise to USD 4.15 billion by 2021 with a CAGR of 8.50 %. The market is segmented by Type (Ionizing Technologies (Mammography, Digital Mammography, 3D Mammography, MBI, PET-CT, CBCT, and PEM), Non-ionizing Technologies (Breast MRI, Breast Ultrasound, AWBU, Breast Thermography, Optical Imaging)). Further the market is also geographically segmented into North America, Europe, Asia-Pacific, Latin America and Middle-East & Africa.
The increasing incidences of breast cancer, the increasing awareness about the early diagnosis of breast cancer, and the growing number of investments to introduce technology upgrades in the present imaging systems are the preliminary factors that are anticipated to drive the market growth over the forecast period. Technological improvements in the breast imaging devices have led to the emergence of countries in the Asia-Pacific region, which are expected to generate high growth opportunities for the existent market players. Be that as it may, regulatory approval procedures, high system installation costs, health risks due to radiation exposure from the mammography machines, and an unfavorable reimbursement scenario in the developing countries are key factors hindering the market growth.
The global Breast Imaging market is segmented on the basis of Type. On the basis of Type, it is segmented into Pellets, Bales, and Cubes. On the basis of Application, it is segmented into Ionizing Technologies and Non-ionizing Technologies. The ionizing segment is further segmented into Mammography, Digital Mammography, 3D Mammography, MBI, PET-CT, CBCT, and PEM. The Non-ionizing segment is further sub-segmented into Breast Ultrasound, AWBU, Breast Thermography, Breast MRI, and Optical Imaging. The mammography segment accounted for the major 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 further aid the market growth. 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.
Based on geography, the market is segmented into North America, Asia Pacific, Europe, Latin America and Middle East and Africa. 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 endeavors in the growing economies of India and China are expected to further boost the growth of the breast imaging market over the forecast period. In addition to the growth in mature markets, the 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.
Some of the key players dominating the 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.
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