Breast Imaging Market is Expected to Reach $6.6 Billion | MarketsandMarkets.

Chicago, July 28, 2023 (GLOBE NEWSWIRE) -- In the near future, the breast imaging industry is poised to witness significant advancements that will revolutionize breast cancer detection, diagnosis, and patient care. With ongoing research and innovations, cutting-edge technologies like 3D digital breast tomosynthesis, artificial intelligence (AI), and molecular imaging will play pivotal roles in improving the accuracy and sensitivity of breast imaging modalities. These technologies will enable earlier detection of breast cancer, leading to more favorable treatment outcomes and reduced mortality rates. Moreover, AI-powered image analysis will enhance radiologists' efficiency by aiding in the detection of subtle abnormalities and reducing false-positive rates. Additionally, the integration of molecular imaging techniques will provide valuable insights into the biological characteristics of breast tumors, allowing for personalized treatment plans and monitoring therapy response. As breast imaging becomes more patient-centric and technologically sophisticated, it will empower clinicians with better tools to combat breast cancer and bring about a transformative impact on women's healthcare in the near future.

Breast Imaging market in terms of revenue was estimated to be worth $4.4 Billion in 2023 and is poised to reach $6.6 Billion by 2028, growing at a CAGR of 8.5% from 2023 to 2028 according to a latest report published by MarketsandMarkets™. Market growth is attributed to the rising use of breast imaging equipment for breast cancer detection, introduction of AI and machine learning, and increasing investments and initiatives in breast cancer screening campaigns.

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Breast Imaging Market Scope:

Report Coverage	Details
Market Revenue in 2023	$4.4 Billion
Estimated Value by 2028	$6.6 Billion
Growth Rate	Poised to grow at a CAGR of 8.5%
Market Size Available for	2021–2028
Forecast Period	2023–2028
Forecast Units	Value (USD Billion)
Report Coverage	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered	Technology, Product, End User, and Region
Geographies Covered	North America, Europe, Asia Pacific, Latin America, and Middle East and Africa
Report Highlights	Updated financial information / product portfolio of players
Key Market Opportunities	Growth potential in emerging countries
Key Market Drivers	Rising incidence of breast cancer

Breast Imaging market major players covered in the report, such as:

• GE Healthcare (US)
• Hologic Inc. (US)
• Siemens Healthcare GmbH (Germany)
• Koninklijke Philips N.V. (Netherlands)
• FUJIFILM Holdings Corporation (Japan)
• Canon Inc. (Japan)
• Aurora Healthcare US Corp. (US)
• Planmed Oy (Finland)
• Allengers (India)
• and Among Others

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This report has segmented the global breast imaging market based on technology, product, end user, and region.

Global Breast Imaging Market, by Technology

• Ionizing Breast Imaging Technologies
• Full-Field Digital Mammography (FFDM)
• Analog Mammography
• 3D Breast Tomosynthesis
• Contrast-Enhanced Mammography (CEM)
• Positron Emission Mammography (PEM)
• Positron Emission Tomography and Computed Tomography (PET-CT)
• Molecular Breast Imaging/Breast-Specific Gamma Imaging (MBI/BSGI)
• Cone-Beam Computed Tomography (CBCT)
• Non-Ionizing Breast Imaging Technologies
• Breast Ultrasound
• Breast MRI
• Automated Whole-Breast Ultrasound (AWBU)
• Breast Thermography
• Electric Impedance Tomography
• Optical Imaging

Global Breast Imaging Market, by Product

• Breast Imaging Systems
• Software & Services
• Accessories

Global Breast Imaging Market, by End User

• Hospitals and Clinics
• Diagnostic Imaging Centers
• Breast Care Centers
• Other End Users

Breast Imaging Market, by region

• North America
  • US
  • Canada
• Europe
  • Germany
  • France
  • UK
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • South Korea
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa

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The key stakeholders in the Breast Imaging market include:

• Healthcare Providers: This encompasses hospitals, clinics, and imaging centers that offer breast imaging services. Healthcare providers are crucial stakeholders as they are directly involved in delivering breast imaging services to patients and interpreting the results.
• Medical Device Manufacturers: Companies that develop and produce breast imaging equipment, such as mammography machines, ultrasound systems, MRI scanners, and other advanced imaging technologies. These manufacturers play a significant role in driving innovation and technological advancements in breast imaging.
• Radiologists and Breast Imaging Specialists: These are medical professionals who specialize in interpreting breast imaging results and providing expert diagnoses. Their expertise is vital in identifying and diagnosing breast abnormalities and guiding appropriate patient management.
• Patients: Patients are essential stakeholders as they are the end-users of breast imaging services. Access to accurate and timely breast imaging is critical for early detection and effective treatment of breast-related health conditions.
• Government and Regulatory Authorities: Government bodies and regulatory agencies play a key role in overseeing and setting guidelines for breast imaging practices, ensuring patient safety, and monitoring compliance with quality standards.
• Research Institutions and Academia: These stakeholders contribute to advancing breast imaging technology and knowledge through research, development of new imaging techniques, and training the next generation of breast imaging professionals.
• Healthcare Insurers and Payers: Insurance companies and healthcare payers have a vested interest in breast imaging, as they cover the cost of imaging services and play a role in determining reimbursement policies.
• Breast Cancer Organizations and Advocacy Groups: Non-profit organizations dedicated to breast cancer awareness, education, and support are crucial stakeholders in the breast imaging market. They promote breast health awareness and advocate for improved access to breast imaging services.
• Pharmaceutical Companies: Pharmaceutical companies that develop drugs for breast cancer and related conditions are also stakeholders, as they work in collaboration with breast imaging professionals to conduct clinical trials and monitor treatment response.
• Technologists and Technicians: These are the healthcare professionals responsible for operating and maintaining breast imaging equipment, ensuring accurate and reliable imaging procedures.

Collectively, these stakeholders play critical roles in shaping the breast imaging market, influencing technological advancements, ensuring quality standards, and improving patient outcomes in breast health management.

Frequently Asked Questions (FAQs) of Breast Imaging Market:

Question 1: What is the expected addressable market value of the global breast imaging market over a six-year period?
Answer: The global breast imaging market is expected to reach USD 6.6 billion by 2028 from USD 4.4 billion in 2023, at a CAGR of 8.5% from 2023 to 2028.

Question 2: Which segment based on technology is expected to garner the highest traction within the breast imaging market?
Answer: Based on technology, the non-ionizing breast imaging technologies segment is expected to grow at the highest rate.

Question 3: What strategies are top market players adopting to penetrate emerging regions?
Answer: The major players in the market use partnerships, distribution agreements, collaborations, and product launches as important growth tactics

Question 4: What are the major factors expected to limit the growth of the breast imaging market?
Answer: The stringent regulatory approval procedures and high equipment cost is expected to limit the growth of the breast imaging market.

Question 5: Which are the major companies in the breast imaging market?
Answer: The major companies in the market are GE Healthcare (US), Hologic, Inc. (US), Siemens Healthcare GmbH (Germany), Koninklijke Philips N.V. (Netherlands), FUJIFILM Holdings Corporation (Japan).

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Recent Developments:

• In 2021, Hologic launched a new ultrasound system, SuperSonic MACH 20. This system enhances diagnostic accuracy as well as efficiency. It provides users with improved image quality along with innovative imaging modes.
• In 2020, GE HealthCare introduced the industry’s first contrast-enhanced guided biopsy solution for breast cancer patients. Serena Bright enables clinicians to access contrast guidance for conducting breast biopsy exams using the same mammography equipment.
• In 2022, Siemens Healthcare GmbH expanded its ultrasound portfolio by launching refreshed Acuson family systems. These systems have enhanced clinical adaptability and can be used for routine purposes.

Report Objectives:

• To define, describe, and forecast the size of the breast imaging market based on technology, product, end user, and region.
• To provide detailed information regarding the major factors influencing the growth potential of the global breast imaging market (drivers, restraints, opportunities, challenges, and trends).
• To analyze the micro markets with respect to individual growth trends, prospects, and contributions to the global breast imaging market.
• To analyze key growth opportunities in the global breast imaging market for key stakeholders and provide details of the competitive landscape for market leaders.
• To forecast the size of market segments and/or subsegments with respect to five major regions, namely, North America (US and Canada), Europe (Germany, France, the UK, Italy, Spain, and the RoE), Asia Pacific (Japan, China, India, Australia, South Korea, and the RoAPAC), Latin America (Brazil, Mexico, and the RoLA), and the Middle East & Africa.
• To profile the key players in the breast imaging market and comprehensively analyze their market shares and core competencies.
• To track and analyze the competitive developments undertaken in the global breast imaging market, such as product launches; agreements; expansions; and mergers & acquisitions.

Related Reports:

Ultrasound Market

Radiotherapy Market

Diagnostic Imaging Market

European Mammography Workstations Market

Medical Imaging Workstations Market

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