Overview:
In the year 2018, Global Breast Imaging Market was valued at USD 3.25 Billion. By the year 2023, it is expected to reach USD 4.89 Billion at pace of 8.5% CAGR.
Breast imaging is a diagnostic procedure for assessing the presence of breast tumor or breast related diseases in women. Breast cancer is the most common cancer in women. Breast imaging techniques play a vital role in the early diagnosis of the disease, by assessing the progression of the disease and deciding on the appropriate treatment. The different types of breast images include mammography, ultrasound, MRI, nuclear imaging and thermography.
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Underlying Causes
The growth for Breast Imaging market is driven due to factors like rising prevalence of breast cancer across the globe, increasing healthcare expenditure, growing adoption of screening techniques in the healthcare facilities, increasing awareness of breast cancer treatment among the global population. In addition, supportive government initiatives, advancement of technologies in the medical industry, introduction of advanced techniques, and improving healthcare facilities in the developing countries are expected to drive the market growth. However, stringent regulatory policies, high cost for installing equipments, high risk associated with mammography machines due to radiation exposure, and lack of skilled professionals are expected to hinder the growth rate for Global Breast Imaging market.
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Geographic Segmentation:
Based on geography the Breast Imaging market has been primarily divided into Asia Pacific, Middle East and Africa, North America and Latin America. North America holds the largest market share in the global Breast Imaging market followed by Europe due to increasing adoption of breast imaging devices in the healthcare facilities, growing awareness about breast cancer treatment, and advancement of technologies in medical industry are the driving factors in this region. Asia-Pacific regions like China and India are rapidly growing due to increasing prevalence of breast cancer, rising healthcare expenditure, and improving healthcare facilities are expected to contribute high growth rate for Breast Imaging market. Latin America and MEA is also predicted to have lucrative growth during the forecast period.
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Key Players:
Leading companies for Global Breast Imaging market are Aurora Imaging Technology, Inc., Dilon Technologies, Inc., Hologic, Inc., GE Healthcare, Siemens Healthcare, Philips Healthcare, Toshiba Corporation, Sonocine, Inc., Fujifilm Holdings Corporation, and Gamma Medica Inc.