Breast Imaging Market Size, Share & Trends Analysis Report, By Technology (Ionizing, Non Ionizing), By End-use (Hospitals, Breast Care Centers), By Region, And Segment Forecasts, 2023 - 2030

Report Overview

The global breast imaging market size was valued at USD 4.7 billion in 2022 and is projected to expand at a compound annual growth rate (CAGR) of 8.6% from 2023 to 2030. Factors such as the rising prevalence of breast cancer, technological breakthroughs in the domain of breast imaging, and investment from several organizations in breast cancer screening programs drive the market. According to the World Cancer Research Fund (WCRF) by 2030, the number of cases of breast cancer is likely to reach about 2.1 million globally. Also, as per the World Health Organization report on breast cancer released in March 2021, over 2.3 million women globally were diagnosed with the disease in 2020, with approximately 685,000 dying as a result of its severity. Breast imaging is the primary method of diagnosis for a vast majority of breast cancer patients globally. This aspect is expected to contribute to the growth of the market during the forecast period.

In recent years, the rising frequency of breast cancer and its associated mortality at a young age, as well as its delayed presentation, has prompted women to seek medical attention as immediately. Many breast cancer cases in developing countries are discovered at a late stage due to a lack of information about early warning symptoms and screening methods. As a result, numerous organizations all around the world are implementing breast cancer awareness initiatives and campaigns.

For instance:

• Breast Screen Australia, the government's nationwide screening program in Australia, mandates free mammograms for women aged 50 to 74 every two years. Breast imaging for early diagnosis in the early stages of breast cancer was discussed in Cancer Australia's "Guidance for the management of early breast cancer - Recommendations and practice points," which was published in September 2020.

• In April 2022, the Dutch National Institute for Public Health and the Environment (RIVM), which coordinates a breast cancer screening program for women between 50 and 75 years old, reported that participation in the program in the previous year was only 70.4% because of apprehension over SARS-CoV-2 virus infection.

• Every year, the National Breast Cancer Foundation, Inc. (a non-profit organization) organizes the National Mammography Program in the United States, which provides free mammograms and diagnostic services for the early detection and treatment of breast cancer.

• In August 2019, the Canadian Cancer Society announced a partnership with Stand Up to Cancer Canada (SU2C Canada) and the Canadian Institutes of Health Research (CIHR) to develop the SU2C Canada Metastatic Breast Cancer Dream Team. This team received $6 million in funding to perform nationwide clinical trials and public awareness campaigns to prevent and cure metastatic breast cancer. 

These screening programs have been shown to save lives compared to unscreened populations. Thus, rising screening programs and government initiatives are anticipated to upsurge the awareness associated with the diagnosis and treatment of breast cancer and thus might eventually aid the breast imaging market growth. Widespread research in the development of hybrid imaging systems provides high growth opportunities and also aids market growth. Recent developments in imaging technology have completely revolutionized the nature of treatment and the way it is approached. To view the metabolic data and anatomical characteristics of the organs, it has become more crucial to combine imaging methods like CT scans, MRIs, PET, and others. Furthermore, the quality of breast pictures, patient comfort, and patient dose have all been enhanced by these integrated imaging modalities. Thereby, owing to these advantages, manufacturers across the globe are concentrating more on the introduction of new products to improve the sensitivity and precision of breast cancer diagnostics. For Instance, in January 2021, Seno Medical Instruments obtained premarket approval from The Center for Devices and Radiological Health in the U.S. for its diagnostic breast cancer imaging technology. The novel technology specialized in differentiating malignant and benign breast lesions.

The adoption of highly sophisticated imaging methods and systems for breasts as well as advances in the detection of breast cancer are predicted to accelerate market expansion. Hence owing to the aforementioned factors, the market is anticipated to propel at high growth rates. However, the high cost of imaging systems and the adverse effects of radiation exposure are expected to hinder the growth of the studied market in the forecast period.

The Russia-Ukraine war has severely impacted the health system due to damage to health infrastructures such as hospitals and clinics. Due to storage space issues and the expense of maintaining a big inventory, the majority of hospitals rarely have supplies of medications and consumables that last longer than a few days. Particularly commodities required for treating war injuries, such as antibiotics, blood supplies, and wound dressings, are exhausted from these stocks. It will be extremely challenging to provide in Ukraine, and it will be challenging to determine the entire degree of the interruption to the health system, especially since cyberattacks have affected IT systems. This is made worse by the ongoing COVID epidemic, which has about 1,700 patients now being treated in hospitals across the nation, as stated by a press release published in OCHA, reliefweb, March 2022.

Primary care, screening, and immunization programs have been disrupted. This implies that those with chronic illnesses like diabetes or heart failure might not receive the best care possible. The post-war era is frequently marked by instability, political unpredictability, infrastructure damage and degradation, inadequate healthcare resources and staffing, unemployment, and a wide range of product shortages. The economy will continue to be impacted, and social and familial networks will be disrupted. Ukraine will require significant international assistance and finance to reconstruct and recover after the war, which will extend for many years.

Various organizations and market players are meeting the health needs of children and adults in Ukraine and in surrounding countries affected by Russia’s invasion of Ukraine. For instance, as per stated by the WHO in June 2022, in order to support Ukraine's increasing humanitarian needs, administer acute medical care, and boost the health system's long-term resilience, the WHO has made an updated appeal for USD 147.5 Million. Of this sum, USD 80 Million is required for in-country assistance, such as the provision of essential healthcare services and the distribution of medications, and an additional USD 67.5 million is needed to support countries that are hosting and accepting refugees, such as Poland, the Czech Republic, Moldova, and Romania.

Technology Insights

The Ionizing technology segment held the largest market share of around 63.2% in 2022 and is anticipated to witness the fastest growth over the forecast period. The segment will expand in the upcoming years as a result of the introduction of new ionizing technology-based breast imaging technologies. Additionally, advancements in currently available ionization-based technologies are likely to receive significant funding, contributing to the market's expansion over the forecast period. Moreover, the majority of market participants' ongoing commitment to raising the number of technology expenditures made in order to offer superior products in the market. 

Furthermore, due to numerous efforts made for breast cancer early detection, the mammography segment of the global breast imaging market is expanding. The United States Preventive Services Task Force, for instance, has created standards for mammography screening. A cross-sectional study on the most accurate techniques for breast cancer diagnosis was conducted and published in the journal Clinics in July 2020 under the title "Evaluation of the accuracy of mammography, ultrasound, and magnetic resonance imaging in suspect breast lesions." According to the study, mammography provided a more accurate assessment of worrisome breast masses. The procedure is the most preferred way to diagnose breast cancer because of its accuracy. These benefits contribute to the mammography segment of the breast imaging market growth. 

Several significant market companies are also concentrating on mammography for breast cancer diagnosis. For example, in August 2021, Fujifilm Medical Systems unveiled the ASPIRE Cristalle mammography system, which will use ScreenPoint Medical's Transpara powered by Fusion AI for 2D and 3D mammography. The use of artificial intelligence in breast cancer screening might assist to lessen the workload of healthcare personnel. Such advancements in mammography for breast imaging are expected to contribute to the growth of the breast imaging market over the forecast period. Furthermore, various advances in the area have reduced over-diagnosis and improved sensitivity to identify tiny carcinomas. These constant improvements in this sector are anticipated to boost segment growth. 

End-use Insights

Hospitals dominated the end-use segment in 2022 with a share of around 42.2% in terms of revenue. The presence of advanced and well-equipped breast imaging facilities within a hospital positively affects various factors, such as duration of hospital stay, total healthcare cost, quality of care, and availability of emergency care. For instance, in September 2019, Parkside Hospital in Wimbledon installed a 3Dmammography system from Hologic that enables high-resolution breast tomosynthesis. As investments in healthcare structures have increased over the world, this trend will aid in market expansion in the next years. Investing has enabled the procurement of improved infrastructure and diagnostic equipment. It has also been effective in providing good health coverage in all hospital-based healthcare services. These are the key factors that will contribute to hospital segment growth in the next years. 

Large-scale hospitals usually have in-house breast imaging facilities; however, the requirement of high investments & frequent maintenance, space, and skilled professionals can act as an entry barrier. This can burden hospitals trying to manage their medical imaging facilities. To reduce this burden and to increase the reach of their facilities and services, hospitals can partner up with diagnostic imaging centers for providing medical imaging facilities. 

The diagnostic imaging centers segment is expected to witness significant growth during the forecast period, owing to an increase in awareness about breast cancer. This has accelerated the demand for breast imaging procedures used for diagnosis, treatment planning, and prevention of breast cancer. The availability of advanced breast imaging services in diagnostic centers of developed & developing economies, such as the U.S., Germany, the U.K., Japan, China, and India, is expected to propel the overall segment growth. 

Regional Insights

North America dominated the breast imaging market in 2022 with a share of around 37.8% in terms of revenue and is expected to exhibit a considerable growth rate during the forecast period. The rising number of breast cancer cases in this region is adding to the growth of the Breast Imaging market. As per the American Society of Clinical Oncology in its 2022 article on Breast Cancer Statistics, a projected 287,850 women in the U.S. will be diagnosed with invasive breast cancer, and 51,400 women will be diagnosed with non-invasive (in situ) breast cancer in 2022. The large prevalence of breast cancer in the U.S. is thus likely to drive the growth of the breast imaging market in the region. 

In September 2020, the United States Center for Diseases Prevention and Control released guidelines signified by numerous cancer research institutes on breast cancer screening for different age groups. Most cancer institutes, including the American Cancer Society, American College of Obstetricians and Gynecologists, and American College of Radiology, indicate that women in the age group of 40 to 49 years old should take up a breast cancer screening once a year. Such guidelines focusing on the welfare of the people in the region add to the rise in the number of diagnostic screenings performed in the area, which will positively impact the growth of the breast imaging market in the forecast period. 

Key players in the sector are increasing their research & development efforts to produce new technologies for breast imaging, which is fostering the market's expansion. For instance, the ATUSA from iSono Health, a portable system that automatically scans the entire breast and provides a three-dimensional image of the breast tissue, was approved by the US Food and Drug Administration in May 2022. The rise in the adoption of such cutting-edge technologies in the region is contributing to the expansion of the market during the projected period. Thus the rising necessity for breast imaging technology coupled with growing investment in the health care department is likely to propel the market growth in this region. 

However, Asia-Pacific will experience the fastest rate of growth in the global market. The increased prevalence of breast cancer, high R&D investments in breast cancer therapies, and developments in breast imaging modalities are the primary drivers driving the growth of the market. Breast cancer is the most frequent malignancy in most Asian countries regardless of race or ethnicity, according to the Centers for Disease Control and Prevention (CDC). According to GLOBOCAN 2018, the age-standardized incidence rate of breast cancer in Asia is 34.4 per 100,000 people. Thus, the increased prevalence of breast cancer and the region's expanding healthcare infrastructure are likely to fuel overall growth. The presence of developing countries, such as China, Japan, and India, is anticipated to boost the market growth in the Asia-Pacific region. In addition, key players are making constant efforts to enter emerging markets of Asia Pacific, which is expected to boost the breast imaging market over the forecast period. 

Key Companies & Market Share Insights

The breast imaging market is competitive and consists of several major players. In terms of market share, few major players currently dominate the market. However, with technological advancements and product modernizations, mid-size to smaller firms are increasing their market presence by launching new products and reducing the side effects of the procedures. The players in the market are striving to maintain their potential market share. Growing competition by means of technological improvements and new product developments leading to a reduction in the cost of the product is projected to boost the market.

Recent Developments

• In May 2022, QUSTom (Quantitative Ultrasound Stochastic Tomography), a new European project, was coordinated by the Barcelona Supercomputing Center (BSC). QUSTom aims to develop a new medical imaging modality based on ultrasound and supercomputing that will supplement or even replace current X-ray-based techniques such as mammograms.

• In March 2022, researchers at the University of Notre Dame designed a novel imaging device, NearWave Imager, for non-invasive breast cancer detection.

• In June 2022, GE Healthcare join forces with the National Cancer Centre Singapore (NCCS). This partnership seeks to stimulate the possibility of more personalized treatment options for cancer and provide the opportunity to examine clinically vital information during the patient journey by leveraging artificial intelligence and text processing.

• In November 2020, Densitas, Inc. partnered with Mammography Educators, LLC. The development seeks to build an artificial intelligence-powered telehealth technician training platform that will aid mammography clinics to maintain business continuity.

Some of the prominent players in the breast imaging market are:

• GE Healthcare,

• Hologic, Inc.,

• Philips Healthcare

• Gamma Medica, Inc.

• Siemens Healthcare

• Fujifilm Holdings Corp.

• SonoCine, Inc.,

• Toshiba Corporation,

• Dilon Technologies, Inc.,

• Aurora Imaging Technology, Inc. 

Breast Imaging Market Report Scope

Global Breast Imaging Market Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For the purpose of this study, Grand View Research has segmented the global breast imaging market report based on technology, end-use, and region:

• Technology Outlook (Revenue, USD Million, 2018 - 2030)

  • Ionizing

    • Full-field Digital Mammography

    • Analog Mammography

    • Positron Emission Mammography

    • Electric Impedance Tomography

    • Cone-Beam Computed Tomography

    • Positron Emission Tomography & Computed Tomography

    • 3D Breast Tomosynthesis

    • MBI/BSGI

  • Non Ionizing

    • MRI

    • Thermography

    • Ultrasound

    • Optical Imaging

    • Automated Whole-breast Ultrasound

• End-use Outlook (Revenue, USD Million; 2018 - 2030)

  • Hospitals

  • Breast Care Centers

  • Diagnostic Imaging Centers

• Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • Germany

    • U.K.

    • France

    • Italy

    • Spain

    • Sweden

    • Denmark

    • Norway

  • Asia Pacific

    • Japan

    • China

    • India

    • Australia

    • South Korea

    • Thailand

  • Latin America

    • Brazil

    • Mexico

    • Argentina

  • Middle East & Africa

    • South Africa

    • Saudi Arabia

    • UAE

    • Kuwait