Global breast imaging market is estimated to reach USD 10.86 billion by 2033, at a CAGR of 9.2% from 2024 to 2033. Global breast imaging market is witnessing considerable growth owing to increasing awareness about breast cancer across the globe. Due to today's advanced technologies, imaging technologies have improved significantly, and new technologies have also been developed. This makes detecting the disease very accurately and easily in the early stages possible. Also, the elderly population is more likely to get breast cancer. Because of this, the need for breast imaging will increase. After Covid, there has been an increase in healthcare spending. This will make it easier for healthcare providers to adopt new and advanced technologies. Imaging technology will promote less invasive diagnostic techniques, and the patient will also have no problems. This will end the patient's fear, and they will come forward and get the treatment.

Market Overview:

Breast imaging is a sub branch of diagnostic radiology, which involves a range of imaging procedures, including screening mammography, diagnostic mammography, breast tomosynthesis, MRI, and breast ultrasound. The purpose of breast screenings and imaging are to find breast cancers at an early stage. Regular mammograms lower the chances of breast cancer - 14% in ages 50-59 and 33% in ages 60-69. With the increasing incidences and high prevalence rate of breast cancer among the women across the globe, have risen the need for breast imaging technologies. 

The practice of breast imaging has undergone through a wide variety of technological advances from direct-exposure film mammography, xeromammography, screen-film mammography to the current era of digital breast tomosynthesis and full-field digital mammography. These organized screening and technologic advances have enabled to shape the speciality of breast imaging. With the development of breast magnetic resonance imaging and breast ultrasonography, both complimentary to mammography, high-risk subgroups of women disease have emerged. A substantial part of breast imaging practice these days also involves breast interventional procedures—both percutaneous biopsy to obtain tissue localization and diagnosis procedures to guide surgical excision. Breast imaging is beginning its transition into a multimodality practice, incorporating ultrasound and MRI technologies with increased frequency. Many newer types of tests are now being developed for breast imaging, including breast tomosynthesis, 3D mammography, which is currently being used in some centres. Other tests are still under the research and will take time to commercialize in the market. Thus, many critical vendors in the market are heavily investing in the research and development activities to develop and launch innovative technologies for the treatment of breast-related diseases. With the help of breast imaging, doctors will have easy planning before surgery. With this, they will be able to handle the case very easily and at the same time they can anticipate the possibility of any untoward incident during surgery. Also, the chances of recurrence of breast cancer can be estimated. With this, the doctor can plan the treatment and surgery accordingly.

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Market Dynamics:

Drivers

• Growing prevalence of breast cancer across the globe

Breast cancer is the most common cancer among the women in the developed as well as in developing countries. For instance, according to the WHO, approximately 2.1 million women are suffering from breast cancer each year, and also causes the most significant number of cancer-related deaths among women. It was estimated that in 2018, more than 627,000 women died from breast cancer – 15% of all cancer deaths among women. In addition to this, breast cancer rates are higher among women from developed regions and are increasing in nearly every region globally. For instance, in the U.S., more than 40% of women have dense breast tissue, which is one of the common risk factors for breast cancer. Thus, growing incidences of breast cancer, the demand for breast imaging has been increased in recent years. 

• Increasing government funds for the treatment of breast-related diseases 

Increasing funds and subsidy by the government for the treatment of breast cancer and associated examination, is one of the vital factors driving the market growth. The breast-related diseases have less awareness in many countries. Due to unawareness among masses about the rapid rise and severity of breast cancer, it is usually diagnosed in the advanced stage, where the treatment becomes ineffective and expensive. Thus, various government are offering funds for the treatment of breast-related diseases, driving the growth of the market. 

Restraints:

• High cost of breast imaging-related devices 

Breast imaging related devices are costly and require high investment for installation and its maintenance. This results in the overall increase in the procurement costs for the hospitals and diagnostics centres. It mainly affects in the underdeveloped and developing countries, owing to less healthcare expenditure. Thus, due to the high cost of these technologies and budget constraints of healthcare facilities, hindering the growth of the market.

Opportunities:

• Growth opportunities in the emerging economies 

Breast cancer among females has been rising at a rapid pace in the several emerging economies such as India, China, and Southeast Asian countries. These countries are witnessing more numbers of female patients with breast cancer diagnosed in the younger age groups (in their thirties and forties). For instance, according to the Union health ministry, breast cancer ranks as the number one cancer in with rate as high as 25.8 per 100,000 women and mortality of 12.7 per 100,000 women. These countries have less awareness and lack of advanced facilities to detect breast-related diseases at an early stage. Thus, key vendors have an enormous opportunities to enter into these market by forming a partnership with hospitals and diagnostics centres. 

Challenges:

• Side effects of radiation exposure 

Radiation can cause severe tissue damage when exposed to long time and increase a person’s risk to develop the cancer afterword. Furthermore, the low doses of radiation used for imaging tests also increase a person’s cancer risk slightly. Thus, the side effects of radiation exposure is anticipated to hamper the market growth over the forecast period. 

Segmentation Analysis:

The global breast imaging market has been classified on the basis of technology, type, end-user, and regions.

• The technology segment is divided into ionizing breast imaging, non-ionizing breast imaging. The non-ionizing breast imaging segment is anticipated to grow at the highest CAGR of 9.5% over the forecast period. Non-ionizing breast imaging offers many benefits such as more fast and detailed diagnosis, high sensitivity, and fewer false positives. Thus, with the increasing benefits of this technology over the ionizing breast imaging, boosting the growth of the segment. 
• The type segment includes mammography, breast ultrasound, breast MRI, biomarkers, positron emission mammography, image-guided breast biopsy, and others. Mammography accounted for the largest market share of 45.8% in 2023. The mammography is the undisputed current modality of choice and used as the primary screening tool for breast cancer. 
• The end-user segment includes hospitals and diagnostic centres. The hospital segment accounted for the major market share of 67.84% in 2023. This is mainly due to higher purchasing power, well-equipped operating & diagnostic rooms, presence of highly skilled healthcare professionals, ease inaccessibility, and better health coverage for hospital-based healthcare services from various private and group insurance plans.

Regional segmentation analysis:

The regions analyzed for the market include North America, Europe, South America, Asia Pacific, and the Middle East and Africa. The North America region emerged as the largest market for the breast imaging market, with a 39.8% share of the market revenue in 2023.

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• This is because North America is growing tremendously in terms of the healthcare industry. North America region has become the hub for the technological development and transformation of the industry. Due to the presence of several technical and pharmaceutical players in countries like Canada and the U.S., North America is projected to dominate the global breast imaging market on geographical front. The number of cancer patients in North America is rising from the past few years. Prostate and breast cancer are the most prevalent forms of cancer in the region, which is anticipated to drive the North America market growth
• The Asia Pacific region is anticipated to rise at the highest CAGR of 8.8% over the forecast period. This is mainly due to increasing awareness regarding breast cancer, improving healthcare infrastructure, and increasing government support in terms of policies and funding in countries such as India and China. 

Competitive Analysis:

The key players are now concentrating on implementing strategies such as adopting new technology, product innovations, mergers & acquisitions, joint venture, alliances and partnerships to improve their market position in the global breast imaging industry.

In November 2019, Hologic, Inc. announced that the U.S. Food and Drug Administration (FDA) had approved 3DQuorum Imaging Technology, powered by Genius AI.

In October 2018, GE Healthcare announced the introduction of Invenia Automated Breast Ultrasound (ABUS) 2.0 for dense breast imaging, the only FDA-approved ultrasound supplemental breast screening technology, designed for detecting cancer in dense breast tissue.

List of Key Market Players:

• Hologic, Inc.
• GE Healthcare
• Siemens Healthineers
• Philips Healthcare
• Fujifilm Holdings Corporation
• Aurora Imaging Technology, Inc.
• Canon Inc.
• CMR Naviscan Corporation
• Delphinus Medical Technologies, Inc.
• Dilon Technologies, Inc.
• KUB Technologies Inc. (Kubtec)
• Micrima Limited
• PlanmedOy
• SonoCiné, Inc.
• SuperSonic Imagine

Key Target Audience

• Healthcare Institute
• Medical Device Manufacturers
• Pharmaceutical Companies
• Government Authorities and R&D Institutions
• World Health Organization
• Food and Drug Administration
• Consulting And Research Firm

Report Description:

• Global Breast Imaging Market, Industry Analysis, Trends, Analysis and Forecast, 2024 to 2033 is a forthcoming/imminent research report which is to be published by The Brainy Insights.
• 2023 is considered as the base year of the report. 2020 to 2022 are considered as the historic years and 2024 to 2033 are the forecast years. The global Breast imaging market is based on revenue (USD Million/Billion). The report incorporates the market study on the basis of revenue. The study covers the market share revenue/market share for each of the segments, regions and countries catering to global breast imaging market. The regions analyzed for the market are Europe, Asia Pacific, North America, South America and Middle East & Africa. Furthermore, the regions are further analyzed at the country level.
• The report encompasses with the relative data & information, which have been validated by the leading industry professionals and experts all across the globe. The research report also delivers an outline of the attractiveness of breast imaging and regions which are deduced and formulated on the basis of their growth rate (CAGR), market size, and attractiveness by analyzing the present and future prospects to market growth and development in future.
• The report illustrates the detailed (both quantitative and qualitative) analysis of historical data, revenues, key developments, along with the crucial strategies adopted by key organizations catering to global Breast imaging market. This offers vital and in depth insights in order to depict the overall market scenario.
• The report offers the detailed study for the company profiles of key organizations operating in the global breast imaging market and a comparative assessment based on their product offering, business overviews, geographic presence, business strategies, segment market share, product development & innovations, recent developments, joint venture, partnerships, mergers & acquisitions, strategic alliances, SWOT analysis, and key financial information. This helps in evaluating the overall competition present in the market scenario. 
• The report provides an elaborative assessment of the porter’s five forces analysis coupled with SWOT analysis so as to provide business related data and information’s. Porter’s five forces model is analyzed to understand the overall competitive scenario that is prevailing in the market. Additionally, the SWOT analysis identifies both the positive and negative attributes of the market development which influences the company growth and development in order to sustain and survive in the long run.
• Along with that, the report also focuses on the market related driving factors, growth limitations (restraints), potential industry opportunities, significant trends and development which act as a key potential for the investors. 
• Potential growth prospects along with the penetration rate analysis of the products (market related i.e., global breast imaging market is covered in order to comprehend the adoption rate and evaluate the market size.