Pune India, Jan. 06, 2023 (GLOBE NEWSWIRE) -- The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and the Middle East and Africa. These are the key regions where the molecular breast imaging market is operating and is predicted to expand soon. The manufacturers and suppliers involved in the molecular breast imaging market are present across various countries in the above-mentioned regions.
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The report provides a detailed understanding of the market segments which have been formed by combining different prospects such as the application, end-user, and regions. Apart from this, the key driving factors, restraints, potential growth opportunities and market challenges are also discussed in the below paragraphs.
The significant players operating in the global molecular breast imaging market are ESAOTE SPA, FUJIFILM Holdings Corporation, Siemens Healthcare GmbH, ONEX Corporation,Sanrad Medical Systems Private Limited, Hologic, Inc., Koning Health, Shenzhen Mindray Bio-Medical Electronics Co., Ltd., CANON MEDICAL SYSTEMS CORPORATION, Aurora Health Care, Imaging Diagnostic Systems, Inc., General Electric, Hitachi Ltd., Bruker, Aspect Imaging Ltd, Koninklijke Philips N.V., Neusoft Corporation, FONAR Corp., Agfa-Gevaert Group, TOSHIBA CORPORATION, among others. To achieve a substantial market share in the worldwide molecular breast imaging market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures.
Molecular breast imaging involves taking pictures of tissues in the breast using a special camera and radioactive tracer to look for signs of breast cancer. Several technologies have been developed for detecting breast cancer since the number of women suffering from the disease has increased significantly. There are some factors which are hindering the growth of the market such as a lack of awareness about breast cancer, the high cost of technology etc. A major challenge preventing the growth of the market in developing regions is the high cost of technology. Furthermore, researchers and developers are continually improving the treatment options available, shaping the market and the technology is advancing, which results in a faster acquisition time, higher sensitivity, and greater specificity.
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Scope of Molecular Breast Imaging Market Report:
| Report Metric | Information |
| Study Period | 2022-2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Market Share Unit | USD Billion |
| Segments Covered | Application, End-User, and Regions. |
| Regions Covered | North America, Europe, Asia-Pacific, South America, and Middle-East and Africa |
| Major Players | ESAOTE SPA, FUJIFILM Holdings Corporation, Siemens Healthcare GmbH, ONEX Corporation,Sanrad Medical Systems Private Limited, Hologic, Inc., Koning Health, Shenzhen Mindray Bio-Medical Electronics Co., Ltd., CANON MEDICAL SYSTEMS CORPORATION, Aurora Health Care, Imaging Diagnostic Systems, Inc., General Electric, Hitachi Ltd., Bruker, Aspect Imaging Ltd, Koninklijke Philips N.V., Neusoft Corporation, FONAR Corp., Agfa-Gevaert Group, TOSHIBA CORPORATION, among others. |
Segmentation Analysis
Diagnosis is expected to be the fastest-growing segment in 2022.
The application segment includes diagnosis, detection and others. The diagnosis segment is expected to witness the highest growth rate during the forecast period. Breast imaging services available in developed and developing economies, such as the U.S., Germany, the U.K., Japan, China, and India, are expected to drive the segment's growth. Furthermore, in order to reduce hospital and payer expenditures, firms in the global breast cancer diagnostics market are using artificial intelligence to improve medical results. AI technology is rapidly being deployed in much more imaging modalities, propelling the growth of the market.
Hospitals & clinics are expected to be the fastest-growing segment in 2022.
The end-user segment includes research centres, hospitals & clinics, diagnostic centres and ambulatory surgical centres. The hospitals & clinics segment is expected to witness the highest growth rate during the forecast period. Despite the segment has dominated the market in the past with the highest revenue share, increasing investment in healthcare infrastructure around the globe will contribute to the market's growth in the future.
Regional Analysis
The regional analysis provides a detailed perception of the key regions and the countries. Some of the key countries analyzed for the molecular breast imaging market include the US, Canada, Mexico, Germany, France, the U.K., Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa, and Saudi Arabia.
The North American region witnessed a major share. Due to the high prevalence of breast cancer among women and the increased awareness of breast cancer within the region, the molecular breast imaging (MBI) market is dominated by North America. Additionally, the presence of major manufacturers and technological advancements continue to expand the market.
Country Analysis
- Germany
Germany's molecular breast imaging market size was valued at USD 0.37 billion in 2022 and is expected to reach USD 0.82 billion by 2030, at a CAGR of 10.4% from 2023 to 2030. Due to the public and private sectors' ongoing financial and investment support for cancer research rising the industry's expansion in Germany.
- China
China’s molecular breast imaging market size was valued at USD 0.38 billion in 2022 and is expected to reach USD 0.85 billion by 2030, at a CAGR of 10.7% from 2023 to 2030. China's molecular breast imaging market is rising due to increase in mobile solutions and contract-based diagnostics.
- India
India's molecular breast imaging market size was valued at USD 0.29 billion in 2022 and is expected to reach USD 0.64 billion by 2030, at a CAGR of 10.6% from 2023 to 2030. Because of rising government efforts to upgrade healthcare facilities in India and a rise in the target patient population.
Covid-19 Impact
Covid-19 had a major impact on almost all industries, such as electronics, semiconductors, manufacturing, automobile, etc. However, several companies operating in the technology sector have seen increased revenue due to significant changes in consumer preferences toward technological services. In addition, the pandemic has led to significant growth in technology across developing and developed countries.
Furthermore, the growth of molecular breast imaging market is mainly driven owing to the rising cases of breast cancer.
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