GVR Report cover Breast Imaging Market Size, Share & Trend Report

Breast Imaging Market Size, Share & Trend Analysis Report By Technology (Ionizing Technology, Non-Ionizing Technology), Region, And Segment Forecasts, 2018 - 2024

  • Report ID: 978-1-68038-146-7
  • Number of Pages: 94
  • Format: Electronic (PDF)
  • Historical Range: 2013 - 2014
  • Industry: Healthcare

Report Overview

The global breast imaging market size was estimated at USD 2.9 billion in 2016. Increasing incidence of breast cancer is expected to drive the market. Moreover, other breast-related diseases such as infections, lesions, and fibrocysts are also expected to contribute to the growth of the market. 

Breast Imaging Market size, by technology

Various companies themselves conduct corporate social responsibility activities that help in educating women about breast health and preventive measures to be taken. For instance, companies like GE Healthcare have launched a commercial regarding the awareness of breast density and its effect on screening techniques. This increasing awareness is anticipated to increase the demand for the products over the forecast period.

Breast cancer is anticipated to be the preliminary driver of the market. According to a report by UNICEF, breast cancer is the most communal cancer observed in women in England. Annually around 41,000 new cases of women are diagnosed with breast cancer in England. Thus, the demand for these products is anticipated to increase in Europe over the forecast period.

Along with women, few men are also affected by breast cancer. According to the National Cancer Foundation (NBCF), breast cancer is the second most common type of cancer worldwide, which accounts for around 10.9% of cancer incidences in both women and men. The NBCF stated that around 1,700 cases of male breast cancer are recorded annually.

The disease prevalence of breast cancer is anticipated to rise with increasing lifestyle changes and decreasing the duration of breastfeeding especially in developed countries. Thus, the demand for these imaging products is anticipated to increase over the forecast period.

Technological advances, such as molecular breast imaging, digital mammogram, optical imaging, electrical impedance imaging, and tomosynthesis, are now propelling the market and are expected to show lucrative growth over the forecast period.

Government interventions such as awareness programs and funding for R&D in the field of breast cancer are anticipated to boost the breast imaging market. The National Cancer Institute of the U.S. invested around 559 million on breast cancer research in 2013, whereas in 2013, the UK government launched a campaign “Be clear on cancer,” which helped in spreading awareness about the risk factors, preventive measures, and early diagnosis of cancer.

Breast Imaging Market Trends

The market is expected to be driven by the rising prevalence of breast cancer and rapidly increasing awareness about the advantages of early detection of breast cancer. 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. As per a World Health Organization (WHO) report published in March 2021, 2.3 million women were diagnosed with breast cancer, out of which 685,000 died. A major factor influencing the market growth is the rise in the number of initiatives taken by governments and other regulatory bodies to increase awareness about breast cancer.

AI (Artificial Intelligence) and ML (Machine Learning) are influencing nearly every industry, including the healthcare domain. These technologies provide novel opportunities for entry-level organizations in the breast imaging sector. In the United States, the increasing number of women who possess the risk of developing breast cancer over their lifetime has prompted the utilization of AI and ML to improve patient quality of life. However, the high costs related to breast imaging coupled with the strictly authorized approval process and negative effects of radiation are expected to be a major challenge for the market.

Technology Insights

The technology segment is bifurcated into ionizing technology and non-ionizing technology Ionizing technology is further sub-segmented as full-field digital mammography, analog mammography, position emission mammography, electric impedance tomography, cone-beam computed tomography, position emission tomography & computed tomography (PET-CT), 3D breast tomosynthesis and molecular breast specific gamma imaging. Whereas, the non-ionizing technology segment is sub-segmented as breast MRI, breast thermography, breast ultrasound, optical imaging, and automated whole-breast ultrasound.

Breast Imaging Market share, by non-ionizing technology

The mammography-based device dominated the market with around 50.8% shares, whereas tomosynthesis is anticipated to witness lucrative growth over the forecast period, owing to its higher accuracy and reliability. Tomosynthesis takes multiple images of the breast at the same time whereas mammography cannot.

Regional Insights

North America dominated this industry with around 32.4% share in 2015. The sophisticated healthcare facilities in this region as well presence of reimbursement facility over medical treatments facilitated the usage of this equipment. Moreover, the prevalence of the chronic disorder in this region is substantially higher than the global average, thus contributing towards the growth of this region significantly.

Breast Imaging Market Trends by Region

Asia Pacific is anticipated to witness the fastest growth over the forecast period. Supportive government policies to improve the healthcare system along with economic developments are anticipated to be governing factors for growth.

Key Companies & Market Share Insights

The players in the market are striving to maintain their potential market share. Increasing competition by means of technological improvements and new product developments leading to a decrease in the cost of the product is anticipated to be the positive outcomes for the market boost. In 2013, Hologic, Inc. secured a strong position in the global market due to its strategic agreements and partnerships coupled with the new product development launches. In order to fuel the competition, key players are vigorously involved in introducing new and improved technology aspects to their products. For instance, the development of NM750b Molecular Breast Imaging System, by GE.

Recent Developments

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

  • In November 2019, Hologic, Inc. confirmed the commercial availability of Genius AI's 3DQuorum Imaging Technology in Europe. As per the firm's statements, the 3DQuorum Imaging Technology reconstructs high-resolution 3D data using Genius AI-powered analytics, thus minimizing picture interpretation time

  • In November 2020, Densitas, Inc. announced a partnership with Mammography Educators, LLC. The development seeks to build an artificial intelligence-powered telehealth technician training platform that will help mammography clinics 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

Report Attribute

Details

Revenue forecast in 2025

USD 7.3 billion

Growth rate

CAGR of 12.2% from 2016 to 2024

Base year for estimation

2015

Historical data

2013 - 2014

Forecast period

2016 - 2024

Quantitative units

Revenue in USD billion and CAGR from 2016 to 2024

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Technology, region

Regional scope

North America, Europe, Asia Pacific, Latin America, Middle East & Africa

Key companies profiled

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.

Customization scope

Free report customization (equivalent to up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options


Breast Imaging Market Segmentation

This report forecasts revenue growth at global, regional & country levels and provides an analysis of the industry trends in each of the sub-segments from 2013 to 2024. For the purpose of this study, Grand View Research has segmented the global breast imaging market report on the basis of technology and region.

Breast Imaging Market Segmentation

  • Technology Outlook (Revenue, USD Million; 2013 - 2024)

    • 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

  • Regional Outlook (Revenue, USD Million; 2013 - 2024)

    • North America

    • Europe

    • Asia Pacific

    • Latin America

    • Middle East & Africa

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