Breast Imaging Technologies Market Expected To Grow At 8.5% CAGR from 2017 to 2025: Crystal Market Research

LAS VEGAS, Nov. 14, 2017 (GLOBE NEWSWIRE) — Over the past few decades, breast imaging technologies have greatly revolutionized the healthcare industry. These modalities allow doctors to diagnose breast cancers at an early stage and drastically improve patient outcomes. Today, advanced imaging technologies deliver substantial benefits to the healthcare providers and the patients. These modalities assist physicians in better understanding the complications related to breast cancers. The procedures are completely non-invasive, painless and majority of these procedures don’t require any special prior preparation.

Some of the key factors driving the growth of Breast Imaging Technologies Market are the growing prevalence of breast cancer, aging population, increased patient awareness about early diagnosis of breast cancers, and technological advancements in breast imaging techniques. According to  WHO, breast cancer is the most common type of cancer in women across the world, both in developing as well as developed countries. The incidence has been steadily rising in low and middle-income countries owing to increased life expectancy and adoption of western lifestyle. According to the 2015-16 report on breast cancer by the American Cancer Society, over 3.1 million women with a history of breast cancer were alive in the U.S. as on January 1, 2014. With such high prevalence of breast cancer, the Breast Imaging Technologies Market will witness substantial growth during the forecast period. However, factors such as stringent regulatory approval procedures and superior cost of breast imaging systems are expected to restrain the market growth during the forecast period.

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Ionizing breast imaging technologies segment dominated the overall market in 2016 to their capability to detect breast cancer at an early stage thereby escalating the odds of survival of the patients. Full-field digital mammography segment dominated the ionizing Breast Imaging Technologies Market in 2016 as the technology uses less radiation as compared to film mammography. Non-ionizing breast imaging technologies segment is projected to witness fastest growth during the forecast period owing to the introduction of advanced imaging modalities such as automated whole breast ultrasound technology. Breast MRI segment held the largest share of the non-ionizing Breast Imaging Technologies Market in 2016 owing to its high sensitivity towards small abnormalities and its ability to visualize the breast in any orientation.

U.S. held the major share of the North American Breast Imaging Technologies Market in 2016 owing to high prevalence of breast cancer along with the presence of highly advanced healthcare infrastructure in the country. Emerging markets such as China and India will experience significant growth during the forecast period due to increasing awareness related to early detection of breast cancer and rising healthcare expenditure in these countries.

The major players operating in the global Breast Imaging Technologies Market emphasize on product development and innovation along with strategic collaborations such as partnerships, acquisitions, and agreements in order to retain and improve their competitive position in the market. For instance, in June 2017, Hologic, Inc., obtained FDA approval for its Genius 3D Mammography exam as the only FDA approved mammogram superior to standard 2D mammography in terms of routine screening of breast cancer in women with dense breasts.

Key Players in the Global Breast Imaging Technologies Market

  • GE Healthcare (a division of General Electric Company)
  • Dilon Technologies
  • Hologic Inc.
  • Gamma Medica Inc.
  • Koninklijke Philips N.V.
  • Siemens AG
  • Toshiba Medical Systems Corporation (acquired by Canon, Inc. in December 2016)
  • SonoCiné Inc.
  • Fujifilm Holdings Corporation
  • Aurora Imaging Technology Inc.

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Key Findings of the Research Study:

  • Ionizing breast imaging technologies segment held nearly two-third share of the overall market in 2016 owing to their capability of detecting breast cancer at an early stage.
  • Non-ionizing Breast Imaging Technologies Market is expected to grow with a high single-digit CAGR during the forecast period as these technologies use infrared radiation thus reducing the threat of acquiring radiation induced cancer.
  • Full-field digital mammography segment held over three-fourth share of the ionizing Breast Imaging Technologies Market in 2016 due to their increased adoption as they use less proportion of radiation compared to film mammography.
  • North America dominated the global Breast Imaging Technologies Market in 2016 and is expected to maintain its dominance over the forecast period due to high prevalence of breast cancer in the region along with availability of advanced healthcare infrastructure and favorable reimbursement policies.
  • Asia-Pacific market is expected to grow with a high single-digit growth rate during the forecast period owing to increasing patient population, rising healthcare expenditure and increasing awareness related to early detection of treatment of breast cancer.

About Crystal Market Research

Crystal Market Research is a U.S. based market research and business intelligence company. Crystal offers one stop solution for market research, business intelligence, and consulting services to help clients make more informed decisions. It provides both syndicated as well as customized research studies for its customers spread across the globe. The company offers market intelligence reports across a broad range of industries including healthcare, chemicals & materials, technology, automotive, and energy.

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