(PharmaNewsWire.Com, August 20, 2019 ) Meticulous Research® –leading global market research company published a research report titled “Breast Imaging Market by Technology [Ionizing (FFDM, Analog, 3D Mammogram, PEM, CT, CBCT, EIT), Non-Ionizing (Breast Ultrasound, Breast MRI, AWBU, Breast Thermography)], End User (Hospital, Diagnostic Imaging Center) - Global Forecast to 2024”
Future looks buoyant for breast imaging
In a report published, Meticulous Research® has stated that the size of the global breast imaging market will reach $5.13 Billion by 2024. The researchers believe that the growth will be driven by a variety of factors. These include: rising prevalence and incidence of breast cancer, growing awareness forearly detection of breast diseases, technological advancements in breast imaging equipment, increasing investment and funding in R&D for breast cancer treatment, rising women aging population, and launch of advanced systems and software for diagnosing dense breast tissue.
The report states that ionizing technology accounts for the largest share of the market. Meticulous Research® speculated as to why this area has emerged as the largest segment: “The higher adoption of this technology for breast cancer screening is majorly attributed to their availability in the market from last many decades, continuous ongoing technological advancements to offer better results, and increasing incidence and prevalence of breast cancer”.
Moreover, within ionizing technology, Full Field Digital Mammography (FFDM) segment commanded the largest share due to higher detection rate of malignant breast cancer coupled with lesser relative cost compared to other ionizing technologies. Though FFDM has the largest share, 3D Breast Tomosynthesis (3DBT) expected to be the fastest growing segment due to its rising adoption with advantages such as sharp image outcomes and decreased recall rates. Based on technology, non-ionizing technology is expected to grow at the fastest CAGR due to their advantages such as enhanced safety, accurate detection of breast tumor location, and higher sensitivity for smaller breast lesion in dense breast women.
On the basis of end-user, hospitals commanded the largest share owing to higher purchasing power, well-equipped operating & diagnostic rooms, presence of highly skilled healthcare professionals, ease in accessibility, and better health coverage for hospital based healthcare services from various private and group insurance plans.
This research report analyzes major geographies and provides comprehensive analysis of North America (U.S. and Canada), Europe (Germany, France, U.K., Italy, Spain, and RoE), Asia-Pacific (Japan, China, India, and RoAPAC), Latin America, and the Middle East & Africa. North America captured a significant share in 2018, while Asia Pacific is expected to register highest CAGR during the forecast period. The high growth of this region in the forecast period will be due to accelerated economic growth of many countries, growing government focus on healthcare sector, rising prevalence of breast tumor, increasing health insurance penetration, and growing female aging population in the region.
Key players operating in the global breast imaging market are Hologic, Inc., GE Healthcare, Siemens Healthcare GmbH, Carestream Health Inc., Koninklijke Philips N.V., FUJIFILM Holdings America Corporation, Canon Medical Systems Corporation, Hitachi Medical Systems, Dilon Technologies, Inc., CMR Naviscan Corporation, Aurora Healthcare US Corporation, Planmed Oy, and SonoCine Inc. among others.
Market Insights -
Drivers
1.Rising Prevalence and Incidence of Breast Cancer
2.Growing Awareness for Early Detection of Breast Diseases
3.Technological Advancements in Breast Imaging Equipment
4.Increasing Investment and Funding in R&D for Breast Cancer Treatment
5.Rising Women Aging Population
6.Launch of Advanced System and Software for Diagnosing Dense Breast Tissue
Restraints
1.High Cost of Breast Imaging Equipment
2.Errors Associated with Breast Screening and Diagnosing
3.Stringent Regulatory Approval Procedure
Opportunities
1.Extensive Research in the Development of Hybrid Imaging Systems
Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.
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