Global Breast Imaging Market: Snapshot
The World Health Organization (WHO) revealed breast cancer to be the second most ubiquitous tumors among women. It additionally studied that over 200,000 new instances of cancer are registered each year over the globe. Breast imaging advances are utilized to get high-goals images of breast tissues. These imaging modalities, for example, ionizing and non-ionizing imaging advancements, help in the early recognition and finding of breast sicknesses, particularly breast cancer in women.
The breast imaging market is principally determined by expanding pervasiveness of breast cancer, innovative progression in the field of oncology and rising medicinal services consumption by the created economies over the globe. Furthermore, the development of medicinal gadgets industry with the rise of new imaging advances for analysis and screening of different ceaseless mawomen, for example, cancer.
According to the analysts at TMR, the worldwide breast cancer imaging market is anticipated to reach an expected valuation of US$4.06 billion by 2019, as against its worth of US$1.84 billion which was evaluated in 2012, in this way growing at a 12% CAGR during the period of 2013 and 2019.
Breast MRI Segment to Grow at an Unprecedented Rate
The report segments the worldwide breast imaging market into breast ultrasound, mammography, tomosynthesis, atomic imaging, breast MRI, and others (breast thermography and bioelectric imaging), in terms of the type of technology used. Of these, mammography utilizes low-force X-beams to create two-dimensional images of breast tissues. Amid reviews, it was uncovered that roughly 44 million women in the U.S. alone experience mammography consistently, out of whom 36% women are recommended for a second analytic test. A large number of these women turn to ultrasound breast screening, which has developed as a promising breast imaging innovation to analyze breast cancer among women.
Today, MRI is utilized for the identification of a wide range of breast conditions. Their specificity in tumor location has prompted MRI being one of the main breast disease recognition devices. Breast MRI procedure utilizes magnetic waves to capture breast tissue images, while ultrasound utilizes sound waves with a recurrence higher than the human hearing extent. Atomic imaging instruments, for example, positron emission tomography (PET) is utilized for restaging and assessment of repetitive breast cancer. Various PET imaging devices are accessible in the market and their propelled variations are as of now being worked on to decide their viability.
Ubiquity of Chronic Ailments in North America to Push Region to Fore
North America commanded the global breast imaging market in the past and trend is expected to continue in the coming years. The modern medicinal services offices in this region coupled with presence of reimbursement over therapeutic medications encouraged the utilization of breast imaging. Also, the pervasiveness of the chronic medical conditions in this region is considerably higher than worldwide normal, along these lines contributing towards the development of this region to a large extent.
Asia Pacific is foreseen to see the swift growth over the duration of forecast. Steady government arrangements to enhance medicinal services framework alongside financial advancements are foreseen to oversee factors for development.
The players in the market are endeavoring to keep up their footprint in the global market. Expanding rivalry by methods for mechanical enhancements and new product development prompting reduction in product cost are foreseen to be the positive results for the market support.
In 2013, Hologic, Inc. anchored a solid position in the worldwide market because of its vital understandings and associations combined with the new product releases. Keeping in mind the end goal to fuel the opposition, key players are vivaciously engaged with presenting better than ever innovation viewpoints to their items.
Prominent vendors profiled by the report include Siemens Healthcare Corporation, Aurora Imaging Technologies, Philips Healthcare, FUJIFILM SonoSite, Inc., GE Healthcare Ltd., and SonoCine Inc.
Breast Imaging Market: Overview
The global prevalence of breast cancer – identified to be the most common form of cancer among women – has been on the rise, especially among women over the age of 40. While the morbidity rate of this cancer has been rapidly increasing in developed countries, the mortality rate is much higher in developing nations owing to lack of awareness and limited availability of advanced healthcare facilities. This growing incidence of breast cancer has been single-handedly driving the market for breast imaging world over.
The report offers a detailed assessment of the various breast imaging technologies and the trajectory of the market during the forecast period. Categorizing the market on the basis of technology into breast MRI, mammography, nuclear imaging, breast ultrasound, tomosynthesis, and others, the report provides in-depth analysis of the various segments and market size estimations through 2019. The key dynamics and trends have been demonstrated and the factors that influence the present as well as future status of the breast imaging market have been discussed.
Breast Imaging Market: Trends and Opportunities
Registering a double-digit CAGR during the forecast period, the breast imaging market is poised to be valued at just over US$4.0 mn by 2019. This can be attributed to the rising use of breast imaging products for diagnosis and monitoring by healthcare professionals, mainly oncology technicians and radiologists. Growing awareness about the benefits of early detection has increasingly supported the demand for breast imaging systems and devices and this can be attributed to supportive government initiatives and programs. The breast imaging market has, as a result, been witnessing considerable growth.
While stringent regulatory norms ensuring the safety of medical equipment and diagnostic tools have been limiting the steady supply of breast imaging systems, technical development and innovative imaging devices are some of the major opportunities market players can capitalize on.
Breast Imaging Market: Regional Outlook
North America has been presenting a strong demand trend for breast imaging over the past decade, with Europe following suit. This can be attributed to greater acceptance ratio for newer technologies and devices, the presence of advanced and sophisticated healthcare infrastructure, higher availability of treatments and technologies, and high awareness rate regarding breast cancer. The Centers for Disease Control and Prevention found that in 2010 alone, nearly 207,000 women and over 2,000 men were diagnosed with breast cancer in the U.S. The World Cancer Research Fund International pegged North America to have the highest number of new breast cancer cases the same year. This increased prevalence of breast cancer drives the North America breast imaging market.
Asia Pacific has been identified as an immensely lucrative region in terms of breast imaging and is primarily driven by growing medical tourism in countries such as China and India. The RoW segment, which comprises the regions of Latin America, the Middle East, and Africa, is anticipated to witness limited growth despite rising government initiatives. This is owing to the fact that awareness levels in these regions is rather low.
Companies mentioned in the report
Some of the leading companies in the highly fragmented breast imaging market are SonoCine Inc., GE Healthcare Ltd., Dilon Technologies, Inc., Aurora Imaging Technologies Inc., Philips Healthcare, Hologic, Inc., Siemens Healthcare Corp., and FUJIFILM SonoSite, Inc. Based on market presence, GE Healthcare, Philips Healthcare, Hologic, and Siemens Healthcare account for the top spots in the global breast imaging market, driven by a wide product portfolio. New product launches, strategic partnerships and agreements, and investments in the development of new imaging systems are some other growth tactics adopted by players in this space.
Major regions analyzed under this research report are:
- North America
- Asia Pacific
- Rest of the World
This report gives you access to decisive data such as:
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for the coming years
Key highlights of this report
- Overview of key market forces propelling and restraining market growth
- Up-to-date analyses of market trends and technological improvements
- Pin-point analyses of market competition dynamics to offer you a competitive edge
- An analysis of strategies of major competitors
- An array of graphics and SWOT analysis of major industry segments
- Detailed analyses of industry trends
- A well-defined technological growth map with an impact-analysis
- Offers a clear understanding of the competitive landscape and key product segments