Breast Imaging Market is anticipated to grow at a CAGR of ~7.9% from 2020 to 2030.
Market Industry Reports (MIR) has published a new report titled “Breast Imaging Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2030.” According to the report, the global breast imaging market accounted for~US $ 3.5 billion in 2019. It is anticipated to grow at a CAGR of ~7.9% from 2020 to 2030.
The significant growth of the breast imaging market can be attributed to technological advancements in the field of breast imaging, increasing prevalence of breast cancer the presence of several key players, improving medical facilities, and supportive insurance policies.Extensive research &developments by major companies &universities across the globe, to introduce breast imaging technologies with maximum safety &precision are expected to contribute to the considerable growth of the global breast imaging market. In 2019, an image visualization company, Imago Systems announced its collaboration with Mayo Clinic. This collaboration will focus on clinical trial support for Imago Systems' ICE Reveal product for breast imaging,through financial investment from Mayo Clinic. Moreover, this collaboration will be led by a breast imaging research specialists at Mayo Clinic who will spearhead Imago's pilot and pivotal studies to clinically validate the company’s visual intelligence software as applied to screen mammograms.
The rising prevalence & incidence of breast cancer can be attributed to increasing change in lifestyle and the decreasing duration of breast feeding, especially in developed countries. Moreover, along side women,men also face the probability to get affected by breast cancer. According to the National Cancer Foundation (NBCF), breast cancer is the second most common type of cancer worldwide, accounting for approximately 1 0.9% of cancer incidences among both women and men. All these factors are anticipated to substantially contribute to the growth of the global breast imaging market during the forecast period.
Breast imaging technologies are used to obtain high-resolution images of breast tissues. These advanced imaging modalities, such as molecular breast imaging, digital mammogram, optical imaging, electrical impedance imaging, and tomosynthesis, have shown considerable efficiency & efficacy, which in turn is expected to propel the market in the coming years. Moreover, increasing awareness and rise in the number of funding initiatives for R&D by both public & private establishments in the field of breast cancer are anticipated to augment the global breast imaging market further.For instance, the Department of Health And Human Services Appropriation allocated US$6.44 billion to the National Cancer Institute of the U.S. for breast cancer research in 2020.
However, high costs associated with advanced breast imaging technologies may hinder the market demand during the forecast period. Moreover, the lack of accessibility to advanced breast imaging procedures in emerging countries may further limit the industry size.Similarly, the risk of false-negative results by mammography tests is also a significant factor which can restrain the growth of the breast imaging market in the years to come.
Browse key industry insights spread across 160 pages with market data tables & figures & charts from the report, Breast Imaging Market by Technology(Ionizing Breast Imaging Technologies (Mammography, PEM, PET-CT, MBI/BSGI, and CBCT) and Non-Ionizing Breast Imaging Technologies (Breast MRI, Breast Ultrasound, AWBU, Breast Thermography, Optical Imaging, and Electric Impedance Tomography)), End Users (Hospitals& Clinics, Diagnostic Imaging Centers, and Breast Care Centers)- Global Analysis & Forecast 2020-2030 in detail along with the table of contents:https://www.marketindustryreports.com/breast-imaging-market/292
Asia Pacific is estimated to account for the highest CAGR in the breast imaging market over the forecast period.Increasing incidences of breast cancer and rising healthcare expenditure is expected to boost the growth of the market considerably. Moreover, rising awareness regarding breast cancer diagnosis is expected to create lucrative growth opportunities for the market in this region.
The prominent players in the global breast imaging market are GE Healthcare, Hologic, Inc., Koninklijke Philips N.V., Canon Inc., Siemens Healthineers, Fujifilm Holdings Corporation, Allengers, Carestream Health, Dilon Technologies, Inc., SuperSonic Imagine, Micrima Limited, and others.
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