(PharmaNewsWire.Com, March 27, 2021 ) The breast imaging market is projected to grow from an estimated USD 3.7billion in 2020 to USD 5.4 billion by 2025, at a CAGR of 8.1% during the forecast period.
Factors Driving the Market Growth:
Market growth is largely driven by factors such as technological advancements, the rising prevalence of breast cancer, the increasing number of screening programs as well as rising number of conferences and symposiums focusing on spreading awareness about the benefits of early screening and diagnosis. The emerging markets, growing government and private investments to meet the increasing demand for breast cancer screening, and the improving reimbursement scenario are expected to present a wide range of growth opportunities for market players.
The major players operating in the breast imaging market are Hologic, Inc. (US), GE Healthcare (US), Siemens Healthineers (Germany), Koninklijke Philips N.V. (Netherlands), Fujifilm Holdings Corporation (Japan), Canon Inc. (Japan), Aurora Healthcare US Corp. (US), Allengers (India), Dilon Technologies, Inc. (US), Planmed Oy (Finland), Delphinus Medical Technologies, Inc. (US), Micrima Limited (UK), CMR Naviscan Corporation (US), SuperSonic Imagine (France), and Carestream Health (US).
By technology, the non-ionizing breast imaging segment is expected togrow at the highest rate during the forecast period
Based on technology, the breast imaging market is segmented into ionizing breast imaging and non-ionizing breast imaging technologies. The non-ionizing breast imaging segment is expected to grow at the highest CAGR during the forecast period. Growth inthis segment can be attributed to the advantages offered by non-ionizing breast imaging technologies over ionizing breast imaging technologies, such as greater generation of anatomical details for diagnosis, high sensitivity to small breast lesions in women with dense breast tissues, and fewerfalse positives.
Mammography to dominate the ionizing imaging technologies market during the forecast period
Ionizing imaging technologies segment is categorized into five subsegments, namely, mammography (analog mammography, full-field digital mammography (FFDM), 3D breast tomosynthesis), positron emission tomography-computed tomography (PET-CT), molecular breast imaging/breast-specific gamma imaging (MBI/BSGI), positron emission mammography (PEM), and cone-beam computed tomography (CBCT). Mammography is expected to account for the largest share of the ionizing breast imaging technologies segment during the forecast period. The major share of the segment is attributed to technological advancements and favorable reimbursement scenario in most of developed countries.
North America to dominate the breast imaging market during the forecast period
The breast imaging market is segmented into five regional segments, namely, North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The North American region accounted for the largest share of the breast imaging market in 2019. The rising incidence of breast cancer, easy accessibility and high adoption of advanced diagnostic technologies (owing to the significant per capita annual healthcare expenditure in the US and Canada), presence of a favorable reimbursement scenario, and the rapidly increasing geriatric population in the region are some of the major factors driving the growth of the breast imaging market in North America.
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