BREAST IMAGING MARKET ANALYSIS

Breast cancer is one of the leading cause of death in women. Breast imaging is a technique that involves imaging of the breast for screening or diagnostic purposes. Breast imaging can be done with digital mammography, digital breast tomosynthesis (3-D Mammography), breast ultrasound, breast MRI and among others. Among these, mammography is the most common method of breast imaging

Global breast imaging market is estimated to be valued at US$ 3,905.2 million in 2022 and is expected to exhibit a CAGR of 7.6% during the forecast period (2022-2030).

Figure 1. Global Breast Imaging Market, in Terms of Value (US$ Million), By Region, 2022

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Increase in prevalence of breast cancer is expected to drive the global breast imaging market growth during the forecast period.

Breast cancer is the most common type of malignancy in women, and one of the three most common cancers worldwide. Spread of breast cancer has become one of the major health challenges in human society. A number of breast cancer screening methods are available in the market. Early detection of breast cancer at initial stage helps to improve survival rate in patient. Thus, increase in prevalence of breast cancer is likely augment the imaging equipment’s. For instance, according to The American Cancer Society's estimates, approximately 287,850 new cases of invasive breast cancer will be diagnosed in women in 2022.

Figure 2. Global Breast Imaging Market Share (%), By Technology, 2022

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Technological innovation in breast imaging is expected to drive the global market growth over the forecast period

Mammography is one of the prominent innovation in breast imaging. It is a screening technology helps to decrease the breast cancer mortality rate. Thus, healthcare providers are stepping up to produce screening modalities and products that will help provide better imaging and  detect cancer that may replace traditional mammography. Artificial intelligence (AI) is one the most interesting area of advancement for improving cancer detection and workflow. AI is poised to bring about the next era of groundbreaking advancements in mammography. Moreover, 3-D mammography is a newer breast imagining modality. 3-D mammography helps to improve the performance of mammography in both fatty and dense breasts. For instance, Hologic 3-D mammography, a combined examination of 3-D and 2-D imaging helps to enhance the quality of cancer detection. Thus, increase in innovation in breast imaging technology is anticipated to drive growth of market

Global Breast Imaging Market – Impact of Coronavirus (COVID-19) Pandemic

COVID-19 has resulted in several challenges to manage cancer, especially to ensure continuity of treatment during this pandemic period. It has significantly affected healthcare systems and economies within a short timeframe. Diagnosis departments are sensitive and they are important for confirmation and therapeutic indication in cancer care. Moreover, the unprecedented demand for hospital services during the SARS-CoV-2 (COVID-19) pandemic has dramatically reduced the capability for dealing with non-acute health needs, including cancer care. Consecutively delay or decrease in the number of cancer diagnostic cases is expected to hamper the market growth.

Global Breast Imaging Market: Restraints

Cost of equipment is a major factor that influences the market growth. Technological innovation in imaging equipment is likely boost the prices of breast imaging equipment. Thus, high cost of breast imaging equipment is anticipated to hamper growth of market. For instance, the average original equipment manufacturer price of Hologic Dimensions 3D is US$ 47,500 - US$ 53,750.

Key Players                   

Major players operating in the global breast imaging market include GE Healthcare, Siemens Healthcare GmbH, Seno Medical, Koninklijke Philips N.V., Fujifilm Holdings Corporation, Hologic, Inc., Aurora Imaging Technologies, Inc., Canon Inc., Dilon Technologies, Inc., Leica Biosystems Nussloch GmbH (Danaher), Carestream Health, Avante Health Solutions, Hitachi, Ltd, PLANMED OY, and Barco.