Breast Imaging Market Worth $7.08 billion by 2027 at a CAGR of 9%
Meticulous
Research®– leading global market research company published a
research report titled “Breast Imaging Market by Technology [Ionizing
(FFDM, Analog, 3D Mammogram, CT, CBCT), Non-Ionizing (Breast Ultrasound, Breast
MRI, AWBU, Breast Thermography)], End User (Hospital, Diagnostic Imaging
Center), and Geography - Forecast to 2027”.
According to
this latest publication from Meticulous Research®, the breastimaging market is expected to grow at a CAGR of 9% from 2020 to 2027 to reach
$7.08 billion by 2027. The growth in the breast imaging market is mainly
attributed to the rising prevalence and incidence of breast cancer, growing
awareness for early detection of breast diseases, technological innovations and
launch of advanced breast imaging equipment & software, increasing
investment and funding in R&D for breast cancer treatment, and rising women
aging population. In addition, the extensive research in the development of
hybrid imaging systems supports the growth of this market. However, the high
cost of breast imaging equipment, errors associated with breast screening and
diagnosis, and stringent regulatory approval procedure are the key factors
expected to hinder the adoption of breast imaging.
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The global
breast imaging market study presents, historical market data in terms of value
(2018 and 2019), estimated current data (2020), and forecasts for 2027 - by
technology [ionizing (FFDM, analog, 3D mammogram, CT, CBCT), non-ionizing
(breast ultrasound, breast MRI, AWBU, breast thermography)], end user
(hospital, diagnostic imaging center), and geography. The study also evaluates
industry competitors and analyzes their market share at the global and regional
level.
Based on
technology, the
ionizing technology segment is estimated to account for the largest share of
the overall breast imaging market in 2020. However, the non-ionizing technology
segment is slated to grow with the fastest CAGR during the analysis period, due
to their advantages over ionizing technologies such as high safety as no
radiation exposure is required; accurate detection of breast tumor location;
and higher sensitivity for smaller breast lesion.
Based on end
user, the
hospitals segment is estimated to account for the largest share of the overall
breast imaging market in 2020. However, the ambulatory surgical centers segment
is projected to register the fastest CAGR during the forecast period, mainly
due to the factors such as rising preference for outpatient services and quick
arrangement of diagnostic examinations for critical breast cancer patient by
eliminating the waiting time at hospitals, less treatment cost, and new insurance
plans for ASC treatment coverage.
Geographically, North America is estimated to command the
largest share of the global breast imaging market in 2020, followed by Europe,
Asia-Pacific, Latin America, and the Middle East & Africa. The major share
of this region is mainly attributed to the factors such as high prevalence of
breast cancer, greater adoption of advanced technologies, growing investments
in cancer research activities, and presence of key players in the region.
However, Asia-Pacific region is expected to be the fastest growing regional
market during the forecast period.
The keyplayers operating in the global breast imaging market are Hologic, Inc. (U.S.),
GE Healthcare (U.S.), Canon Inc. (Japan), Siemens AG (Germany), Koninklijke
Philips N.V. (Netherlands), Carestream Health, Inc (U.S.), Planmed Oy
(Finland), Hitachi, Ltd. (Japan), Dilon Technologies Inc. (U.S.), CMR
Naviscan Corporation (U.S.), FUJIFILM Holdings Corporation (Japan), Aurora
Healthcare US Corp (U.S.), and SonoCine Inc. (U.S.) among others.
About Meticulous
Research®
Meticulous
Research® was founded in 2010 and incorporated as Meticulous Market Research
Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956.
Since its incorporation, with the help of its unique research methodologies,
the company has become the leading provider of premium market intelligence in
North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa
regions.
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Research®
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