Industry Outlook
The breast imaging market is set to reach US$ 4,945.3 Mn by 2026 from US$ 2,334.2 Mn in 2017 projecting steady growth at a compounded annual growth rate (CAGR) of 8.7% during the forecast period from 2018 to 2026. World Health Organization (WHO) 2013 report states that breast cancer is the top cancer in women worldwide and growing at a rapid pace in the developing countries. The incidence rate of breast cancer is 138 per 100,000 people. The major limitations encountered while using mammography is occurrence of overdiagnosis, false positives & negative analysis 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 anomalities.
In developing regions such as Asia Pacific and Middle East and Africa the government healthcare agencies are taking initiatives to promote breast cancer awareness. Medical campaigning and workshops are being conducted by non-governmental organizations (NGO’s) to fortify women health and welfare. In the developed nations such as North America and Europe factors such as implementation of effective guidelines for screening of breast cancer, and corporate social responsibility activities conducted by major players to educate women regarding breast cancer drive the breast imaging market.
Market Synopsis
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"Rising prevalence of breast cancer and increasing public health awareness to drive mammography market"
The statistics presented by 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 rising prevalence of breast cancer and its ability to accurately detect microcalcification anomaly in the mammary glands. It is still considered as the preliminary diagnostic method for screening of breast cancer. Tomosynthesis is an advanced version of mammography which obtains a 3 dimensional scan for better 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 implant as there is no risk of radiation exposure.
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"Rising number of women population availing hormone replacement therapy in North America are at potential risk to develop breast cancer"
North America dominates the breast imaging regional market with 39% market share. As per the latest research citing of Breast Cancer Organization, approximately 2,550 new cases of breast cancer are expected to be diagnosed in the United States. Rising prevalence of breast cancer and existence of well-developed healthcare infrastructure to drive the breast imaging market growth in North America. According to the European Breast Cancer Coalition studies, 1 in 8 women in the European Union region will develop breast cancer before the age of 85. Domicile of market leaders such as Siemens Healthcare GmbH and Philips Healthcare have a positive impact on the breast imaging market growth in Europe. Asia Pacific will project steady growth during the forecast period on account of key factors such as rising incidence of breast cancer in women above 40 years of age and increasing disease awareness results in early diagnosis. Latin America and Middle East & Africa serve as a lucrative market to the breast imaging device manufactures due to supportive regulatory environment and proactive government initiatives to curb breast cancer.
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Historical & Forecast Period
This research report presents the analysis of each segment from 2016 to 2026 considering 2017 as the base year for the research. Compounded annual growth rate (CAGR) for each respective segments are calculated for the forecast period from 2018 to 2026.
Report Scope by Segments
Market estimation and compounded annual growth rate for the report is determined on the basis of qualitative and quantitative market analysis. The breast imaging market is segmented as technology and regional segment.
| ATTRIBUTE |
DETAILS |
| Research Period |
2016-2026 |
| Base Year |
2017 |
| Forecast Period |
2018-2026 |
| Historical Year |
2016 |
| Unit |
USD Million |
| Segmentation |
By Technology Type (2016–2026; US$ Mn)
• Mammography
• Breast Ultrasound
• Breast MRI
• Tomosynthesis
• Nuclear Imaging
• Others
|
|
Geography Segment (2016–2026; US$ Mn)
• North America (United States and Canada)
• Europe (U.K., Germany, Rest of Europe)
• Asia Pacific (China, Japan, Rest of Asia Pacific)
• Latin America (Brazil, Mexico, Rest of Latin America)
• Middle East and Africa (GCC, Rest of MEA)
|
Market assessment tools such as qualitative and quantitative analysis are performed to predict the existing business trend prevalent in breast imaging market. Organic and inorganic market growth strategies are studies to track the latest merger and acquisitions taking place among the major players in breast imaging market. Financial information and strategic decisions of manufacturers are mentioned in the company profiles section to evaluate its impact on the breast imaging market growth. Availability of different breast imaging devices are enlisted in the product portfolio section. The key players that influence the breast imaging market 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 answered in this report
- What will be the market estimation and compounded annual growth rate for the forecast period 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 in the market growth of breast imaging devices?
- What is the disease etiology of breast cancer and the rate of diagnosis?
- What are the technological advancement 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?
