Analysis of Breast Imaging Technologies market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
As per a new Fact.MR analysis, expanding at a CAGR of 7%, the global breast imaging technologies market is predicted to increase from a valuation of US$ 4.7 billion in 2022 to US$ 6.6 billion by the end of 2027.
Demand for ionizing technologies is expected to rise at 7.2% CAGR due to increased attention and rising investments by key players for the development and advancement of mammography detectors.
Breast Imaging Technologies Market Size (2022)
US$ 4.7 Billion
Projected Market Value (2027)
US$ 6.6 Billion
Global Market Growth Rate (2022-2027)
Market Share of Ionizing Technologies
Share in Medical Imaging Market (2022)
Key Companies Profiled
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Competitive landscape highlights only certain players
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“Rising Demand for Diagnosis of Breast-related Abnormalities”
According to Fact.MR, a market research and competitive intelligence provider, sales of breast imaging technologies are expected to increase at a CAGR of 7% from 2022 to 2027.
The risks of breast cancer have considerably grown in recent years due to factors such as the widespread use of hormone replacement therapy after menopause, numerous reproductive issues, and hormonal changes. Breast cancer screening and diagnosis are becoming increasingly popular worldwide due to the rising incidence of breast cancer.
Breast-related abnormalities are diagnosed using breast imaging technologies. Doctors and tumor surgeons can diagnose breast anatomy, cell composition, tumors, and other internal breast components using breast imaging technologies.
Recent advancements in breast imaging equipment and software, the growing prevalence of breast cancer, the rising number of screening programs, and the rising number of seminars and conferences aimed at increasing awareness of the advantages of early detection and diagnosis are some of the factors driving market expansion.
“Rapid Technological Advancements in Breast Imaging Equipment”
Technological advancements in the medical equipment industry would enable the production of enhanced breast imaging equipment. The market is expanding as a result of an increase in the number of screening methods and the demand for early detection.
The market is driven by technological advancements, including molecular breast imaging, digital mammography, optical imaging, electrical impedance imaging, and tomosynthesis, which are anticipated to exhibit profitable growth throughout the forecast period.
The breast imaging industry is expected to grow as a result of rising initiatives by government organizations such as awareness campaigns and financing for breast cancer research and development.
Increase in the number of measures conducted by governments and other regulatory organizations to raise awareness about breast cancer is a significant factor driving market growth. Nearly every business is being impacted by AI (Artificial Intelligence) and ML (Machine Learning), including the healthcare sector. New opportunities in the breast imaging technologies industry are made possible by these technologies.
Market expansion has been facilitated by increasing awareness and numerous breast screening initiatives. When compared to populations who are not examined, these screening programs have been demonstrated to save lives. The introduction and expanding use of advanced mammography machines with cutting-edge technologies is driving the growth. Malignant and benign breast tumors might be distinguished using the new technology.
A few cutting-edge procedures have been developed in the sector as a result of ongoing research and development, which is expected to support market expansion. The need for multiple technologies functioning together to identify breast cancer has significantly increased. The detection quality has significantly improved as a result of the use of several different technologies.
One of the key factors propelling the expansion of the global breast imaging technologies market is the rise in breast health awareness. The market is expanding as a result of factors, including rising demand for breast cancer diagnostics, rising breast cancer prevalence, better care systems, and longer life expectancies for cancer survivors thanks to effective treatment and timely diagnosis.
For a majority of women globally, early cancer identification has become one of the most crucial requirements. As a result, healthcare organizations are becoming more knowledgeable in digital breast imaging to enhance cancer diagnosis. These developments are increasing the breast imaging technologies market revenue.
Health practitioners are increasing their reputation by becoming more proficient in FDA-approved breast imaging technology. These technologies are assisting a variety of clinical research projects and the creation of advanced products related to breast cancer.
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“High Cost of Imaging Equipment & Stringent Regulatory Approval Procedures”
High costs associated with imaging equipment or technology, unfavorable reimbursement scenarios in developing and undeveloped countries, stringent regulatory clearance procedures, and increased radiation exposure risk are expected to hinder market growth over the forecast period.
The breast imaging technologies market is expected to grow more slowly in emerging countries, mainly due to higher equipment acquisition and maintenance costs.
One of the problems holding back market expansion for breast imaging technologies is the lack of awareness of automated breast ultrasound screening. Many medical professionals are not familiar with how automated breast ultrasound screening works or how to use it to better see the cancer-prone area. Consequently, they need substantial instruction to use them.
“New Companies Focusing on Development of AI-based Breast Imaging Technologies”
Artificial intelligence can considerably speed up the analysis of mammography pictures by radiologists who focus on finding abnormalities in these images. Additionally, tools and algorithms for clinical decision support shorten the time that physicians need to spend developing treatment strategies.
Start-ups offer AI-based breast imaging solutions to assist and automate clinical decision-making. New companies are actively engaged in adding enhanced technological features to existing products.
“Growing Awareness about Early Breast Cancer Detection in North America”
North America holds the highest share in the breast imaging technologies market because of the expanding usage of enhanced medical imaging technologies, and the presence of significant market participants.
Growing awareness regarding early breast cancer detection, advancements in breast cancer diagnostic technology, an increase in demand for invasive ductal carcinoma radiology, and increased initiatives and funding for research and product development are all factors contributing to market growth.
“High Availability of Reimbursement Policies for Medical Treatment in the U.S.”
The market in the U.S. is expected to develop during the forecast period as a result of the rise in the acceptance of breast cancer diagnostic imaging technologies. The rising prevalence of breast cancer, rising investments in healthcare infrastructure, and rising elderly population are driving market expansion in the United States.
The availability of reimbursement facilities for medical treatments and the rising number of cancer-specific hospitals and clinics are anticipated to support the breast imaging technologies market growth in the U.S.
“Increasing Government Investments in Breast Cancer Research Studies”
The breast imaging technologies market in China is anticipated to increase at a CAGR of 10% from 2022 to 2027.
Market growth is expected to be boosted by supportive government initiatives to upgrade the healthcare system and significant investments in breast imaging technologies.
The government runs several initiatives to raise public awareness of screening programs that aid in the early identification of breast cancer, and this is a key element fuelling market expansion.
The increasing government investments in breast cancer research studies and the increase in non-governmental organisations' awareness of breast problems are the drivers propelling market expansion in China.
“Ionizing Technologies Preferred Owing to Diagnostic Precision & Clarity”
Based on type, the breast imaging technologies market is divided into ionizing technologies and non-ionizing technologies. Ionizing technologies account for 60% share of the global market due to the continuous launches of breast imaging systems using ionizing technology, continuous innovation in ionizing technology, and a rise in the number of mammography and screening method approvals.
Ionizing technology is in high demand due to the widespread use of these technologies in healthcare facilities. Ionizing imaging is favored over other technologies because it offers more diagnostic precision and clarity.
“Presence of Well-equipped Surgical & Diagnostic Rooms in Hospitals”
Based on end user, the breast imaging technologies market is classified into hospitals, specialty clinics, and ambulatory surgery centers. Increased funding by government organizations for healthcare infrastructure & breast cancer therapies, an increase in the number of breast cancer patients being admitted to hospitals, and the availability of highly qualified surgeons are all driving the demand for breast imaging technologies in hospitals.
Hospitals are anticipated to gain the largest market share owing to the provision of well-equipped surgical & diagnostic rooms and improved healthcare delivery for hospital-based healthcare services.
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Well-established organizations are implementing innovations and enhancements to improve breast cancer services as the healthcare sector looks for new strategies to provide access to high-quality care. Mid-size to smaller businesses are expanding their market presence by launching new items and minimizing the adverse effects of the treatments due to technological advancements and product improvements.
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High prices associated with breast imaging systems and stringent regulatory approval processes are factors limiting market growth.
Ionizing technologies account for 60% share of the global market.
The breast imaging technologies market is set to increase at a CAGR of 7% from 2022 to 2027.
The global breast imaging technologies market is valued at US$ 4.7 billion.
Hologic, Inc., Philips Healthcare, and GE Healthcare are key providers of breast imaging technologies.
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