Industry Outlook

The breast imaging market is set to reach US$ 4,945.3 Mn by 2026 from US$ 2,334.2 Mn in 2017 projecting steady growth at a compounded annual growth rate (CAGR) of 8.7% during the forecast period from 2018 to 2026. World Health Organization (WHO) 2013 report states that breast cancer is the top cancer in women worldwide and growing at a rapid pace in the developing countries. The incidence rate of breast cancer is 138 per 100,000 people. The major limitations encountered while using mammography is occurrence of overdiagnosis, false positives & negative analysis and pain endured by patients during diagnosis. Breast imaging device manufacturing companies are striving zealously to address these shortcomings and provide more effective and accurate screening of breast anomalities.

In developing regions such as Asia Pacific and Middle East and Africa the government healthcare agencies are taking initiatives to promote breast cancer awareness. Medical campaigning and workshops are being conducted by non-governmental organizations (NGO’s) to fortify women health and welfare. In the developed nations such as North America and Europe factors such as implementation of effective guidelines for screening of breast cancer, and corporate social responsibility activities conducted by major players to educate women regarding breast cancer drive the breast imaging market.

"Rising prevalence of breast cancer and increasing public health awareness to drive mammography market"

The statistics presented by World Cancer Research Fund International (WCRFI), breast cancer is the fifth most common cause of mortality in women. Mammography is the largest segment in the technology segment and continues to be popular on account of key parameters such as rising prevalence of breast cancer and its ability to accurately detect microcalcification anomaly in the mammary glands. It is still considered as the preliminary diagnostic method for screening of breast cancer. Tomosynthesis is an advanced version of mammography which obtains a 3 dimensional scan for better prognosis of breast cancer. Breast ultrasound technology is set to register remarkable growth during the forecast period owing to factors such as safety in pregnant women and women with breast implant as there is no risk of radiation exposure.

"Rising number of women population availing hormone replacement therapy in North America are at potential risk to develop breast cancer"

North America dominates the breast imaging regional market with 39% market share. As per the latest research citing of Breast Cancer Organization, approximately 2,550 new cases of breast cancer are expected to be diagnosed in the United States. Rising prevalence of breast cancer and existence of well-developed healthcare infrastructure to drive the breast imaging market growth in North America. According to the European Breast Cancer Coalition studies, 1 in 8 women in the European Union region will develop breast cancer before the age of 85. Domicile of market leaders such as Siemens Healthcare GmbH and Philips Healthcare have a positive impact on the breast imaging market growth in Europe. Asia Pacific will project steady growth during the forecast period on account of key factors such as rising incidence of breast cancer in women above 40 years of age and increasing disease awareness results in early diagnosis. Latin America and Middle East & Africa serve as a lucrative market to the breast imaging device manufactures due to supportive regulatory environment and proactive government initiatives to curb breast cancer.

Market assessment tools such as qualitative and quantitative analysis are performed to predict the existing business trend prevalent in breast imaging market. Organic and inorganic market growth strategies are studies to track the latest merger and acquisitions taking place among the major players in breast imaging market. Financial information and strategic decisions of manufacturers are mentioned in the company profiles section to evaluate its impact on the breast imaging market growth. Availability of different breast imaging devices are enlisted in the product portfolio section. The key players that influence the breast imaging market growth are Aurora Imaging Technology, Inc., Dilon Technologies, Inc., Fujifilm Holding Corporation, GE Healthcare, Gamma Medica, Inc., Hologic, Inc., Philips Healthcare, Sonocine, Inc., Toshiba Corporation and Siemens Healthcare GmbH.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Breast Imaging market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Breast Imaging market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Breast Imaging market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Breast Imaging market?
• Which is the largest regional market for Breast Imaging market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Breast Imaging market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Breast Imaging market worldwide?