Market growth is largely driven by factors such as technological advancements, the rising prevalence of breast cancer, the increasing number of screening programsas well as rising number of conferences and symposiums focusing on spreading awareness about the benefits of early screening and diagnosis. The emerging markets, growing government and private investments to meet the increasing demand for breast cancer screening, and the improving reimbursement scenario are expected to present a wide range of growth opportunities for market players.
According MarketsandMarkets Research Report – [215 Pages Report] The breast imaging market is projected to grow from an estimated USD 3.7billion in 2020 to USD 5.4 billion by 2025, at a CAGR of 8.1% during the forecast period.
Breast Imaging Market and Emerging Technologies:
- Artificial intelligence
- Personalized Medicine
- Artificial intelligence- Artificial intelligence is one of the most promising breakthroughs in the field of medical imaging/diagnostic imaging. In breast cancer imaging, AI helps optimize workflows for quicker and efficient detection. AI enables radiologists to locate more cancers without the need to analyze a large number of 3D screening data. The advent of AI technology in breast imaging is gaining momentum across the globe.
- Personalized Medicine – Genetic testing is widely used to personalize predictions of risks or susceptibility to a disease condition. With growing research in the field of diagnostic imaging, the trend of an individualized approach for breast cancer screening is growing among individuals across the globe.
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Breast Imaging Market and Key End-users:
Key End-user industries for breast imaging products are:
- Hospitals & Clinics
- Diagnostic Imaging Centers
- Breast Centers
- Hospitals & Clinics – Large and small hospitals as well as hospitals associated with medical institutions, universities, and cancer clinics are the key end-users of breast imaging modalities. The growth of this segment is primarily attributed to the large number of diagnostic imaging procedures performed in hospitals and increasing inclination of hospitals toward the automation and digitization.
- Diagnostic Imaging Centers- Diagnostic imaging centers provide diagnostic services to medical professionals as well as patients required to undergo imaging tests. These facilities are equipped with imaging systems to generate radiologic and electromagnetic images.
- Breast Centers- Breast Centers
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Breast Imaging Market and Top Companies
Key market players profiled in the breast imaging market report includes:
- Hologic, Inc. (US)
- GE Healthcare (US)
- Siemens Healthineers (Germany)
- Koninklijke Philips N.V. (Netherlands)
- Fujifilm Holdings Corporation (Japan)
- Canon Inc. (Japan)
- Hologic, Inc. (US) – is engaged in the development, manufacturing, and supply of diagnostic products, medical imaging systems, and surgical products dedicated to serving the healthcare needs of women. Hologic has its direct distribution network in place as well as independent distributors in North America, Europe, and Asia Pacific.
- GE Healthcare (US) – is a technology and financial services company that possesses a diversified product and service portfolio. The company offers a wide range of breast imaging modalities, including breast imaging systems—digital mammography systems, computed tomography scanners, magnetic resonance imaging systems, molecular breast imaging systems, and breast ultrasound products.
- Siemens Healthineers (Germany) – Siemens Healthcare GmbH (Siemens Healthineers) operates as a holding company of Siemens AG. The company offers a wide range of products and services in the field of point-of-care diagnostics, laboratory testing, diagnostics and therapeutic screening, and molecular medicine.
- Koninklijke Philips N.V. (Netherlands)- Koninklijke Philips N.V. (Philips) is a diversified technology-based company involved in healthcare and consumer lifestyle markets. The company is one of the leaders in diagnostic imaging, patient monitoring, image-guided therapy, and health informatics. The company is also engaged in R&D to develop innovative products for the provision of better patient care.
- Fujifilm Holdings Corporation (Japan)- is engaged in the development, manufacturing, and distribution of imaging, information, and document solutions. The company has emerged as a prominent player in emerging countries, such as Brazil, Russia, India, and China (BRIC), Turkey, and other South-East Asian countries.
- Canon Inc. (Japan)- is one of the leading manufacturers of diagnostic medical imaging solutions, such as CT, MR, X-ray, and ultrasound systems. The acquisition of Toshiba Medical Systems Corporation (Japan) in December 2016 has helped the company to significantly expand Canon’s product portfolio in the global diagnostic imaging market.