The global breast imaging market size was valued at USD 4.8 billion in 2022 and it is expected to increase around USD 11.42 billion by 2032 and poised to grow at a compound annual growth rate (CAGR) 9.1% during the forecast period 2023 to 2032. The North America market was accounted for USD 1.3 billion in 2022.
Access our Premium Real Time Data Intelligence Tool, Visit: Precedence Statistics
The medical technology which is used in order to detect and identify breast cancer is known as breast imaging. It helps in detecting many different types of disorders related to the breasts with the help of the radiological pictures through the use of the medical technology. There are many different types of technologies used for breast imaging like breast ultrasonography, mammography, magnetic resonance imaging, and nuclear imaging. All of these technologies are used in order to understand the presence of breast cancer and other disorders related to the breast and this technology helps in detecting the possibilities of the disorders or cancer in the earlier stages and this is extremely beneficial as it detects cancer at a stage where it can be treated. Breast cancer happens to be one of the biggest cause of mortality in women the demand for and the development of the technologies which are used in breast imaging have increased in the recent years as it helps in early detection and treatment.
With the help of the non-ionizing and ionizing radiation which is used in detecting the tumors of the breast imaging technique has grown well in the recent years. As the doctors make use of this technology in order to diagnose the presence of breast cancer in the earlier stages as and when the symptoms appear the demand for this technology is expected to grow in the coming years.
As the cases of breast cancer have increased in the recent years the demand for this technology is expected to grow well in the coming year. Early detection is one of the major factors that will help in the growth of the market during the forecast period. With the help of this technology other disorders which are related to the breast of a women can also be detected due to which the market will continue to grow well in the coming year.
Constant research and development in this field has launched different types of equipments of the advanced type that help in breast imaging. The demand for softwares has also grown due to the increased amount of funds received in this field. Geriatric women population is one of the factors that have led to an increase in the cases of breast cancer. Recently the use of systems that make use of hybrid imaging have also developed and this is expected to provide good amount of growth opportunities in the coming years for all the companies operational in the market.
Report Scope of the Breast Imaging Market
|Market Size in 2023||
USD 5.21 Billion
|Market Size by 2032||
USD 11.42 Billion
|Growth Rate from 2023 to 2032||CAGR of 9.1%|
|Forecast Period||2023 to 2032|
|Segments Covered||Technology, End User and Geography|
Hologic, Inc. (US), Koninklijke Philips N.V. (Netherlands), Fujifilm Holdings Corporation (Japan), GE Healthcare (US), Siemens Healthineers (Germany)
Use of the hybrid imaging technology - Constant research and development in the field have provided a few advanced techniques that will help in the growth of the market. The demand for various technologies in a combination in order to detect breast cancer have increased to a great extent. PET scan, MRI and CT scans are used in combination in order to understand the details of the anatomy of the give an organ. Due to the use of a combination of technologies the detection quality has increased to a great extent.
Increased cases of breast cancer in the recent years- The use of various technologies for detecting breast cancer have increased as the cases of breast cancer in women have also increased to a great extent. In the coming years it is estimated that there shall be an increase in the number due to various reasons.
Government initiatives- initiatives taken by the government in various regions across the world will increase the awareness regarding the benefits associated with the early diagnosis and more and more people will seek medical help. The use of advanced technology in the detection of breast cancer will help in the growth of the market in the coming years. As the geriatric population across the world especially the women geriatric population has increased there has also been an increased number of investments coming in from the private as well as the public sectors in order to reduce the cases of breast cancer and this is expected to be a major driver which will support the market growth in the coming years.
On the basis of the technology, the ionizing segment is expected to have the largest market share in the coming years. The segment had dominated the market in the past with our largest market share in terms of revenue and it will continue to grow well in the coming years. The introduction of new technologies that are used in breast imaging with the help of the ionizing technology will lead to the growth of the market in the coming years period the advancements in the currently existing technologies which makes use of ionization will receive major investments which will help in the growth of the market during the forecast period. Most of the market players are constantly engaged on increasing the amount of investments made in the technology in order to provide better products in the market due to which the ionizing technology segment is expected to grow well as its demand is expected to grow.
3D breast tomosynthesis is a type of technology that makes use of ionizing radiation. This type of technology is expected to grow with the highest compound annual growth rate in the coming year. As the images obtained through the use of this technology are sharp and the recall rates are also less the market is expected to grow well in the coming years. When it comes to the use of the non ionizing technology the breast ultrasound method is expected to have a larger share in the market as there are many benefits associated with the use of this technology like higher sensitivity and less risk of being exposed to the radiation. These are the factors that will lead to the growth of the market.
End User Insights
On the basis of the end user the hospital segment is expected to have the largest market share in the coming years. The segment has dominated the market in the past with the highest share in terms of revenue. As there has been an increase in the investments made in the healthcare structure across the world this development will help in the growth of the market in the coming years.
Investments have made it possible to purchase better infrastructure and equipment's for diagnosis. It has also been beneficial as it has provided good health coverage in all the health care services that are hospital based. These are the main factors that will help in the growth of the hospital segment in the coming years.
Breast Imaging Market Share, By Region, 2022 (%)
|Regions||Revenue Share in 2022 (%)|
North American region is expected to have a dominant position in the coming years. This region has dominated the market in the past with the largest market share in terms of revenue and it will continue to grow well in the coming years.
The Asia Pacific region is expected to grow with a higher compound annual growth rate as compared to the other regions of the world in the coming years. As the economic growth of many countries in the Asia Pacific region is high the market for breast imaging is also expected to grow well. As the cases of breast cancer having increased in this region the demand for diagnosis is also expected to grow.
Government of various nations in the Asia Pacific region are constantly engaged in providing better infrastructure for the healthcare sector. There are various programs conducted by the government of various nations in order to promote the awareness of the screening programs which help in early detection of breast cancer and this is a major factor that will help in the growth of the market in the coming years.
Key Market Developments
Key market players
Segments covered in the report
By End User
PROCEED TO BUY :
ASK FOR SAMPLE
No cookie-cutter, only authentic analysis – take the 1st step to become a Precedence Research client