Breast Imaging Market to Reach 5,632.59 USD Million by 2028

The Global Breast Imaging Market is expected to reach 5,632.59 USD Million by 2028, growing at a CAGR of 7.40% from 2022 to 2028. The increasing incidences of breast cancer along with the increasing public-private investments, funding, and grants is anticipated to augment the growth of the market during the forecast period.

Key Findings:

• The non-ionizing breast imaging segment held a significant share in 2021. This is attributable to the increase in the various advantages offered by using non-ionizing breast imaging such as greater generation of anatomical details for diagnosis, fewer false positives, and high sensitivity to small breast lesions in women with dense breast tissues.
• The mammography segment is projected to grow at a considerable CAGR during the forecast period. This is attributable to the increasing implementation and integration of advanced technologies along with increasing awareness about their use in the early detection and diagnosis of breast diseases in women.
• The breast ultrasound segment held a significant share in 2021. This is attributable to the increase in the various benefits offered by using breast ultrasound such as the ability to differentiate between a cyst and a solid mass, the ability to detect lesions and the nature of lesions in women with dense breast tissues, and the detection of blood flow through vessels.
• The hospital's segment held a significant share in 2021. This is attributable to the availability of well-equipped operating & diagnostic facilities in the hospitals and increasing investments in healthcare infrastructure development.
• Asia Pacific is expected to grow at the fastest CAGR during the forecast period. China accounted for the largest share in APAC in 2021. This is attributable to the rise in supportive government policies to improve the healthcare system in the region owing to the growing cases of breast cancer in women in economies such as China and India. Furthermore, the increased healthcare expenditure along with increasing awareness programs for the early detection of breast cancer is also anticipated to support the regional growth of the market.

Some of the key players in the Breast Imaging market include Hologic, Inc. (US), GE Healthcare (US), Siemens Healthineers (Germany), Koninklijke Philips N.V. (Netherlands), Fujifilm Holdings Corporation (Japan), Canon Inc. (Japan), Aurora Healthcare US Corp. (US), Allengers (India), Dilon Technologies, Inc. (US), Planmed Oy (Finland), Delphinus Medical Technologies, Inc. (US), Micrima Limited (UK), CMR Naviscan Corporation (US), SuperSonic Imagine (France), and Carestream Health (US).

The increasing prevalence of breast cancer across the globe is anticipated to augment the growth of the Breast Imaging market in the years to come. This is owing to the increasing alcohol consumption, being obese, especially after menopause, physical inactivity, and getting hormone therapies, among others. As per the estimations by National Cancer Institute, in the United States, the rate of new breast cancer cases in females was 129.1 per 100,000 women per year and the death rate was 19.9 per 100,000 women per year based on 2014–2018 cases and 2015–2019 deaths. Further, the estimated new cases in 2021 for the United States were 281,550, and the percent of all new cancer cases was 14.8% and estimated deaths in 2021 were 43,600, and the percent of all cancer deaths was 7.2%. As seen, the number of breast cancer cases is increasing and hence the demand for breast imaging techniques is also expected to increase in near future. Further, the growing awareness regarding early detection of breast cancer and the growing aging population is also expected to propel market growth in the near future.

However, the high cost of breast imaging systems along with stringent regulatory approval procedures is expected to hamper the growth of the market in the years to come. Moreover, the emergence of contract-based diagnostic solutions and mobile solutions along with other technological advancements in breast imaging modalities is expected to create immense opportunities for the growth of the market within the forecast period.

North America held the largest shares in 2021. The US held the largest share in North America for the Breast Imaging market. This is attributable to the rising incidences of breast cancer in the region. Furthermore, the presence of advanced healthcare infrastructure and reimbursement facilities over medical treatments in the region is also expected to fuel the regional growth of the market. Additionally, increasing healthcare expenditure in the region is also expected to support the growth of the Breast Imaging market in the region.