Dublin, Ireland, Sept. 19, 2022 (GLOBE NEWSWIRE) -- According to a new study by Fact.MR, a market research and competitive intelligence provider, the global demand for breast imaging technologies is anticipated expand rapidly at 7% CAGR and reach a valuation of US$ 6.6 billion by 2027. Market growth is mainly attributed to the rising population of women over 45 who are at an increased risk of developing breast cancer.
- The American Cancer Society reports that almost half of all women over the age of 62 are diagnosed with breast cancer.
Doctors and cancer surgeons employ breast imaging technologies to diagnose breast shape, cell composition, and tumors. Breast imaging has been crucial in identifying cancer cells and lumps, which has helped in lowering the death rate of breast-related illnesses globally.
Breast imaging technologies have advanced significantly in recent years due to the use of ionizing and non-ionizing radiation for the detection of cancer. It is expected that the death rate would decrease as more health-conscious individuals adopt early diagnostic procedures and use advanced ultrasound technology. Market expansion is greatly supported by the rapid technological advances in breast screening, the growing number of conferences held around the world to raise awareness of the advantages of early detection and diagnosis, and growing public and private investments to meet the rising demand for breast cancer screening.
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Rising Demand for Diagnosis of Breast-related Abnormalities
According to Fact.MR, a market research and competitive intelligence provider, sales of breast imaging technologies are expected to increase at a CAGR of 7% from 2022 to 2027.
The risks of breast cancer have considerably grown in recent years due to factors such as the widespread use of hormone replacement therapy after menopause, numerous reproductive issues, and hormonal changes. Breast cancer screening and diagnosis are becoming increasingly popular worldwide due to the rising incidence of breast cancer.
Breast-related abnormalities are diagnosed using breast imaging technologies. Doctors and tumor surgeons can diagnose breast anatomy, cell composition, tumors, and other internal breast components using breast imaging technologies.
Key Takeaways from Market Study
- Demand for breast imaging technologies is expected to rise at a CAGR of 7% through 2027.
- The global breast imaging technologies market is currently valued at US$ 4.7 billion.
- The market in Canada is anticipated to expand at a CAGR of 6.5% over the forecast period.
- Demand for non-ionizing technologies is predicted to increase at a CAGR of 6.9% from 2022 to 2027.
- The market in Germany is set to increase at a CAGR of 4.5% through 2027.
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Segments of Breast Imaging Technologies Industry Research
- By Type :
- Ionizing Technologies
- Non-ionizing Technologies
- By End User :
- Hospitals
- Diagnostic Imaging Centers
- Breast Care Centers
- Others
- By Region :
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Winning Strategy
Leading companies are putting more efforts in research and development to create innovative breast imaging technologies. Top market participants are focused on the development of hybrid imaging systems.
For instance,
- GE Healthcare and partnered with the National Cancer Center Singapore. By utilizing artificial intelligence and word processing, this collaboration aims to encourage the prospect of more customized cancer treatment alternatives while also giving patients the chance to analyze clinically important information.
- In 2022, a novel breast imaging modality was introduced by Seno Medical. Using non-invasive ultrasound technology this system assists doctors in identifying benign and malignant breast lesions and provides data on breast lesions in real-time.
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Competitive Landscape
Well-established organizations are implementing innovations and enhancements to improve breast cancer services as the healthcare sector looks for new strategies to provide access to high-quality care. Mid-size to smaller businesses are expanding their market presence by launching new items and minimizing the adverse effects of the treatments due to technological advancements and product improvements.
For instance :
- In 2020, Hologic, Inc. revealed the commercial availability of its AI detection tool to assist radiologists in finding tumors in breast tomosynthesis images. The company claims that it will improve patient experience and enhance cancer diagnosis.
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global breast imaging technologies market, presenting historical demand data (2017-2021) and forecast statistics for the period of 2022-2027.
The study divulges essential insights on the market on the basis of type (ionizing technologies, non-ionizing technologies) and end user (hospitals, diagnostic imaging centers, breast care centers, others), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and MEA).
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Automated Breast Ultrasound System Market: Global automated breast ultrasound system market to record a value CAGR of 9.3% over the period of forecast, 2018 to 2027. Over 1,800 units of automated breast ultrasound systems are foreseen to be sold worldwide by 2027-end.
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