Breast Imaging Market worth $6.6 billion by 2028

 Breast Imaging Market in terms of revenue was estimated to be worth $4.4 billion in 2023 and is poised to reach $6.6 billion by 2028, growing at a CAGR of 8.5% from 2023 to 2028 according to a new report by MarketsandMarkets™. The major factors driving the growth of this market include rising awareness campaigns, increasing public-private investments, and lucrative opportunities in emerging markets.

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Non-ionizing breast imaging technologies segment to register significant growth rate over the forecast period of 2023-2028

Based on the technology, the global breast imaging market is segmented into ionizing breast imaging technologies and non-ionizing breast imaging technologies. The non-ionizing breast imaging technologies segment is anticipated to register the highest growth rate over the forecast period. The ionizing breast imaging technologies segment accounted for the highest share of the breast imaging market in 2022.

Software & services segment accounted for the largest share of the breast imaging market, by product in 2022.

Based on product, the global breast imaging market is segmented into breast imaging systems, software & services, and accessories. Software & services segment accounted for the largest share of the market in 2022 and is expected to grow at the highest CAGR during the forecast period.

Factors such as the rising installation in end user facilities and introduction of novel software drive the growth of the market.

The hospitals and clinics segment accounted for the largest share of the breast imaging market, by end user, in 2022

Based on end user, the global breast imaging market is segmented into hospitals and clinics, diagnostic imaging centers, breast care centers, and other end users. The hospitals and clinics segment accounted for the largest share of the market in 2022. Consistent rise in the adoption of advanced instruments supporting early detection by different end users are driving the growth of this segment.

By Region, North America is Expected to be the Largest Market During the Forecast Period

North America, comprising the US and Canada, accounted for the largest market share in 2022. Factors such as growing funding for research, and increasing applications in the healthcare sector, and presence of major players in the region are driving market growth in North America. According to GLOBOCAN 2020, 281,591 new breast cancer cases were diagnosed in North America in 2020, and this number is expected to increase by 43,927 by 2030. Rapid growth in the geriatric population in the region is also resulting in an increasing number of breast cancer cases.

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Key Market Players:

As of 2022, prominent players in the breast imaging market are GE Healthcare (US), Hologic, Inc. (US), Siemens Healthcare GmbH (Germany), Koninklijke Philips N.V. (Netherlands), and FUJIFILM Holdings Corporation (Japan).

Recent Developments:

·         In 2021, Hologic launched a new ultrasound system, SuperSonic MACH 20. This system enhances diagnostic accuracy as well as efficiency. It provides users with improved image quality along with innovative imaging modes.

·         In 2020, GE HealthCare introduced the industry's first contrast-enhanced guided biopsy solution for breast cancer patients. Serena Bright enables clinicians to access contrast guidance for conducting breast biopsy exams using the same mammography equipment.

·         In 2022, Siemens Healthcare GmbH expanded its ultrasound portfolio by launching refreshed Acuson family systems. These systems have enhanced clinical adaptability and can be used for routine purposes.

Breast Imaging Market Advantages:

·         Early Detection: Breast imaging techniques, such as mammography and advanced technologies like digital breast tomosynthesis, enable the early detection of breast abnormalities, including tumors and lesions. Early detection is crucial for improving treatment outcomes, as it increases the chances of successful intervention and reduces the need for more invasive procedures.

·         Improved Accuracy: Breast imaging technologies continue to evolve, offering improved accuracy in detecting and characterizing breast abnormalities. This allows healthcare professionals to differentiate between benign and malignant lesions, reducing unnecessary interventions and providing patients with more accurate diagnoses.

·         Screening and Surveillance: Breast imaging plays a vital role in breast cancer screening and surveillance programs. Regular mammography screenings can help identify breast cancer at its earliest stages, even before symptoms are apparent. This facilitates early intervention and increases the likelihood of successful treatment.

·         Guided Interventions: Image-guided interventions, such as ultrasound-guided biopsies and stereotactic procedures, provide precise guidance for minimally invasive procedures. These techniques enable accurate tissue sampling, reducing the need for more invasive surgical procedures and improving patient comfort and recovery times.

·         Personalized Medicine: The breast imaging market is increasingly embracing personalized medicine approaches. Genetic testing and risk assessment tools can help tailor screening protocols and treatment plans based on an individual's risk profile. This approach enhances the effectiveness of breast cancer management and optimizes resource allocation.

·         Research and Development: The breast imaging market drives continuous research and development efforts. Technological advancements, such as AI integration and 3D printing, are being explored to enhance imaging capabilities, improve accuracy, and provide innovative solutions for personalized patient care. These advancements contribute to the overall progress of breast imaging and the field of breast cancer diagnosis and treatment.

·         Increased Awareness and Education: The breast imaging market plays a crucial role in raising awareness about breast health and the importance of regular screenings. It also promotes education and training for healthcare professionals, enabling them to stay updated with the latest advancements and best practices in breast imaging.

These advantages highlight the significant role of the breast imaging market in improving breast cancer detection, diagnosis, and treatment, ultimately leading to better patient outcomes and reduced mortality rates.

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