Breast Imaging Market By Technology Type (Mammography, Breast Ultrasound, Breast MRI, Tomosynthesis, Nuclear Imaging, Others) - Growth, Future Prospects & Competitive Analysis, 2018 – 2026

The breast imaging market is expected to reach US$ 4,945.3 million by 2026, up from US$ 2,334.2 million in 2017, with a compounded annual growth rate (CAGR) of 8.7% from 2018 to 2026. According to the World Health Organization (WHO) 2013 report, breast cancer is the most common cancer in women worldwide and is increasing rapidly in developing countries. The incidence rate of breast cancer is 138 per 100,000 people. The major limitations encountered while using mammography are the occurrence of overdiagnosis, false positives, and negative analyses, and pain endured by patients during diagnosis. Breast imaging device manufacturing companies are striving zealously to address these shortcomings and provide more effective and accurate screening of breast anomalies.

In developing regions such as Asia Pacific, the Middle East, and Africa, government healthcare agencies are taking initiatives to promote breast cancer awareness. Non-governmental organizations (NGOs) are conducting medical campaigns and workshops to improve women's health and well-being in developed nations such as North America and Europe, factors such as the implementation of effective guidelines for screening for breast cancer and corporate social responsibility activities conducted by major players to educate women regarding breast cancer drive the breast imaging market.

Market Synopsis

The mammography market will be driven by the rising prevalence of breast cancer and increased public health awareness.

According to the statistics presented by the World Cancer Research Fund International (WCRFI), breast cancer is the fifth most common cause of mortality in women. Mammography is the largest segment in the technology segment and continues to be popular on account of key parameters such as the rising prevalence of breast cancer and its ability to accurately detect microcalcification anomalies in the mammary glands. It is still considered the preliminary diagnostic method for screening for breast cancer. Tomosynthesis is a more advanced form of mammography that produces a 3-dimensional scan for a more accurate prognosis of breast cancer. Breast ultrasound technology is set to register remarkable growth during the forecast period owing to factors such as safety in pregnant women and women with breast implants, as there is no risk of radiation exposure.

A growing number of women in North America who use hormone replacement therapy are at risk of developing breast cancer.

With a 39% market share, North America dominates the regional breast imaging market. As per the latest research cited by the Breast Cancer Organization, approximately 2,550 new cases of breast cancer are expected to be diagnosed in the United States. The rising prevalence of breast cancer and the existence of a well-developed healthcare infrastructure will drive the breast imaging market's growth in North America. According to studies by the European Breast Cancer Coalition, 1 in 8 women in the European Union region will develop breast cancer before the age of 85.

The domicile of market leaders such as Siemens Healthcare GmbH and Philips Healthcare has a positive impact on the breast imaging market's growth in Europe. Asia Pacific will project steady growth during the forecast period on account of key factors such as the rising incidence of breast cancer in women over 40 and increasing disease awareness, which results in early diagnosis. Latin America, the Middle East, and Africa serve as lucrative markets for breast imaging device manufacturers due to a supportive regulatory environment and proactive government initiatives to curb breast cancer.

Periods of History and Forecast

This research report presents the analysis of each segment from 2016 to 2026, considering 2017as the base year for the research. The compound annual growth rate (CAGR) for each of the respective segments is calculated for the forecast period from 2018 to 2026.

Report Scope by Segments

Market estimation and the compounded annual growth rate for the report are determined on the basis of qualitative and quantitative market analysis. The breast imaging market is segmented by technology and region.

Market assessment tools such as qualitative and quantitative analysis are performed to predict the existing business trend prevalent in the breast imaging market. Organic and inorganic market growth strategies are studied to track the latest mergers and acquisitions taking place among the major players in the breast imaging market. Financial information and strategic decisions of manufacturers are mentioned in the company profiles section to evaluate their impact on the breast imaging market's growth. The availability of different breast imaging devices is listed in the product portfolio section. The key players that influence the breast imaging market's growth are Aurora Imaging Technology, Inc., Dilon Technologies, Inc., Fujifilm Holding Corporation, GE Healthcare, Gamma Medica, Inc., Hologic, Inc., Philips Healthcare, Sonocine, Inc., Toshiba Corporation, and Siemens Healthcare GmbH.

Key questions are answered in this report.

• What will be the market estimation and compound annual growth rate for the forecast period of 2018 to 2026?
• Who are the major players manufacturing breast imaging devices?
• What are the market trends existing in the breast imaging technology market?
• What is the impact of the drivers and restraints on the market growth of breast imaging devices?
• What is the etiology of the disease and the rate of diagnosis?
• What are the technological advancements prevailing in the breast imaging market?
• Which is the largest and fastest-growing market by technology?
• Which is the largest and fastest-growing regional market?

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