The global breast imaging market size is expected to reach USD 6.72 Billion in 2028 and register a CAGR of 7.6% during the forecast period, according to the latest report by Reports and Data. Rapid integration of AI in breast imaging to enhance efficiency of imaging and reduce the rate of false positives is expected to drive market revenue growth over the forecast period. In addition, increasing prevalence of breast cancer worldwide, rapid advancements in breast imaging modalities, and rising number of diagnostic centers across the globe to cater to high demand for early detection and screening of breast cancer are other key factors driving market revenue growth over the forecast period.
Breast cancer is one of the most prevalent type of cancers in women across the globe and accounts for 14% of the newly diagnosed cancers in the United States. Breast cancer risk increases with age and is majorly diagnosed in women over 55 years of age. Increasing prevalence of breast cancer, coupled with high risk of this cancer is leading to development of advanced techniques and modalities for early detection for increasing survival rate in patients and reducing morbidity associated with treatment approaches. Over the last few decades, advancements in full field digital mammography, breast MRI, ultrasound, and nuclear medicine has revolutionized breast imaging with enhancements in specificity in terms of cancer detection and lesion characterization. Technological upgrades in breast MRI such as development of contrast enhanced MRI with high sensitivity and proton spectroscopy offer new perspectives in providing important information regarding breast abnormalities.
Market Overview:
The pharma and healthcare industry is at a crossroads. Patients are benefiting from the promise of cell and gene therapies; uncommon diseases that were previously thought to be incurable are on the verge of finding true treatments. Artificial intelligence (AI) and machine-learning technologies are creating hopes that therapy discovery and development would be more innovative, as well as faster and cheaper. Manufacturing, the supply chain, and the entire healthcare ecosystem all have the potential to benefit from data-driven initiatives. Consumer attitudes and behaviours are shifting in a variety of ways, from growing use of technology and willingness to share data to an interest in using tools to make prescription and treatment decisions. Such factors will drive pharma and healthcare market growth in the coming years.
Some key highlights of the report:
- Mammography segment is expected to account for largest revenue share over the forecast period, attributable to increasing preference for this type of screening across the globe to understand breast health and breast cancer risks. Mammography is the gold standard screening tool for breast cancer and has significantly reduced its burden and mortality, as well as minimized morbidity associated with treatments.
- Hospitals and clinics segment is expected to register significant revenue share over the forecast period, owing to increasing pool of breast cancer patients, availability of top-of-the-line medical and diagnostic equipment, favorable reimbursement policies, and availability of a wide range of advanced breast imaging techniques such as breast MRI, ultrasound, and mammography in such settings.
- North America is expected to account for largest revenue share over the forecast period, attributable to growing prevalence of breast cancer, establishment of state-of-the-art healthcare and research facilities, rapid advancements in breast imaging techniques, higher focus on personalized medicine, and presence of key market players in the region.
- In October 2021, Penn Medicine announced a collaboration with Siemens Healthineers to offer free breast cancer screening to women above 40 years of age using a mobile mammography unit developed by Siemens. Under the partnership, Penn Medicine aims to offer breast cancer screening services to women in minority and underserved communities.
Key Players covered in this report are
Canon Inc., Philips Healthcare, Aurora Imaging Technology Inc., Hologic Inc., GE Healthcare, Dilon Technologies Inc., Siemens Healthineers, CMR Naviscan, Fujifilm Holdings Corporation, and Delphinus Medical Technologies Inc.
Technology Outlook (Revenue, USD Billion, 2018-2028)
- Mammography
- Breast Ultrasound
- MRI
- CBCT
- MBI
- PET-CT
- Optical Imaging
- ABUS
End-use Outlook (Revenue, USD Billion; 2018-2028)
- Hospitals Clinics
- Diagnostic Imaging Centers
- Breast Care Centers
Key Regional Markets Studied in the Report:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- The Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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