At the forefront of women's health, Breast Imaging companies specialize in cutting-edge technologies for early detection of breast conditions. These companies contribute to comprehensive breast care by providing advanced imaging solutions that aid in timely diagnosis and treatment planning.
Latest Breast Imaging Companies Updates:
Hologic Inc.:Launched the 3Dimensions Mammography System offering better visibility and faster processing time with 3D images.Received EUREF Type Test Certification for the system, making it the first DBT system to achieve this distinction.Showcased developments in next-generation AI solutions at RSNA 2023.
iCAD Inc.:Announced partnership with CancerIQ to integrate AI-enabled technology with best-in-class risk assessment and care management platform.Introduced ProFound AI which can predict 1-2 year risk for breast cancer and reveal insights for heart disease.
Barco:Announced introduction of AI technology for visualization of dense breast tissue.
b-rayZ:Secured CE Mark for its industry-first custom AI technology, revolutionizing end-to-end breast diagnostic workflow.
List of Breast Imaging Key companies in the market:
Breast Imaging Market Size was valued at USD 3.9 billion in 2022 and is projected to grow from USD 4.2 Billion in 2023 to USD 7.98 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 8.3% during the forecast period (2023 - 2032). Factors such as the increased prevalence of breast cancer, technological developments in the field of breast imaging, and investment in breast cancer screening programs by a number of organizations are the key market drivers enhancing the market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
One of the key factors driving the growth of the breast imaging market is the continual increase in the frequency of breast cancers. According to the WHO, there will be 2.3 million women diagnosed with breast cancer in 2020, with 685 000 deaths worldwide. By the end of 2020, 7.8 million women will have been diagnosed with breast cancer in the previous five years, making it one of the world's most common types of cancer. Furthermore, according to Breast Cancer.org, around 43,300 women in the United States are predicted to die from breast cancer in 2022. Since 2007, death rates among women under 50 have been stable, while rates among women over 50 have continued to fall. From 2013 to 2018, the overall rate of breast cancer death fell by 1% every year. These reductions are thought to be the result of improved treatment and earlier diagnosis through screening systems. As of January 2021, there were over 3.8 million women in the United States with a history of breast cancer, including those who are actively being treated and those who have completed treatment.
The increase in the number of breast cancer cases worldwide has led to an increase in the use of a variety of breast screening processes (breast MRI, breast tomosynthesis, Molecular breast imaging, Positron emission mammography, Contrast-enhanced mammography, Electrical impedance imaging, Elastography, gynecomastia ultrasound, mastitis ultrasound, breast sonogram, gynecomastia radiology, galactocele According to the Food and Drug Administration, 40 million mammograms are conducted in the United States each year. Mammography is regarded as one of the most effective ways for screening women for breast cancer.
These factors are projected to fuel breast Imaging market revenue expansion in the next years and improve market CAGR across the globe in the recent years.
The global Breast Imaging market segmentation, based on Technology, includes Ionizing Technology and Non-Ionizing Technology. The 'Non-ionizing Breast Imaging' segment dominated the market in 2022, with the highest CAGR throughout the estimated period. The benefits of non-ionizing breast imaging technologies, such as the detection of tiny breast lesions in women with dense breast tissues and the depth of anatomical features for diagnosis, are driving overall market expansion in this region.
FIGURE 1: BREAST IMAGING MARKET, BY TECHNOLOGY, 2022 & 2030 (USD BILLION)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The global Breast Imaging market segmentation, based on End-User, includes Hospitals, Clinics, and Specialty Centers. In 2022, the market was considerably led by the Hospitals, followed by Clinics sector due to a consistent CAGR. Increased government funding for breast cancer therapies and healthcare infrastructure, a higher rate of breast cancer patients being admitted to hospitals, and the availability of highly skilled surgeons are all driving this market’s growth
By Region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. North America dominated the Breast Imaging market in 2022, followed by Europe and the Asia-Pacific. North America Breast Imaging dominated the market owing to adoption of increasingly sophisticated imaging methods and systems for the breast as well as improvements in the detection of breast cancer. The population's high level of knowledge about the existence of cutting-edge diagnostic methods for breast imaging plays a part in the area's rapid market expansion.
The market for breast imaging is expanding as a result of the increasing number of breast cancer cases in the North American region. In the United States, it is anticipated that 287,850 women will be diagnosed with invasive breast cancer and 51,400 women will be diagnosed with non-invasive (in situ) breast cancer in the year 2022, according to the American Society of Clinical Oncology's article on breast cancer statistics for that year. The high incidence of breast cancer in the United States will probably fuel the expansion of the region's market under study.
Guidelines on breast cancer screening for various age groups were announced by the US Centers for Disease Control and Prevention in September 2020. These guidelines were supported by numerous cancer research organisations. Women between the ages of 40 and 49 should get a breast cancer screening once a year, according to the majority of cancer institutions, including the American Cancer Society, American College of Obstetricians and Gynecologists, and American College of Radiology. Such regional welfare-oriented recommendations increase the number of diagnostic screenings conducted there, which would favourably affect the expansion of the breast imaging market throughout the course of the forecast period.
Further, the major countries studied in the market report are: The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 3: BREAST IMAGING MARKET SHARE BY REGION 2022 (%)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The European Breast Imaging market accounts for a sizable portion of the worldwide Breast Imaging market. Because of the rising incidence of breast cancer and the developed healthcare system, Europe has become a significant market for breast imaging. The area has significant growth potential, which will contribute to the market growth for breast imaging in the upcoming years. In the EU-27, it was predicted that more than 355,000 women would receive a breast cancer diagnosis by the year 2020. Italy, Portugal, and Germany are the three European nations with the highest median ages, which range from 14 to 20, and they are all in Europe. Further, the Germany Breast Imaging market held the largest market share, and the UK Breast Imaging market was the fastest growing market in the European region.
The Asia-Pacific Breast Imaging market is expanding as a result of a number of factors, including the steadily rising prevalence of breast cancers, the rising cost of healthcare, the rise of early detection programs, and the massive government spending on breast cancer research studies in several APAC countries. In Asia, 911,014 new instances of breast cancer were detected in 2018, and by 2030, there will likely be an additional 229,650 cases, according to GLOBOCAN. Moreover, China Breast Imaging market held the largest market share, and the India Breast Imaging market was the fastest growing market in the Asia-Pacific region.
Breast Imaging Key Market Players & Competitive Insights
The Breast Imaging market is highly competitive, with several major market players operating in the market. Market participants are also pursuing a variety of market developments to expand their global footprint, including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other companies. Competitors in the Breast Imaging industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.
The Breast Imaging market major player such as Koninklijke Philips NV (Netherlands), General Electric Company (US), Siemens (Germany), Fujifilm Holdings Corporation (Japan), Hologic Inc. (US), Delphinus Medical Technologies Inc. (US), SonoCiné (US), CMR Naviscan Corporation (US), Planmed Oy (Finland), KUB Technologies (US), and Others.
Koninklijke Philips NV (Philips) is an international technology firm with a focus on lighting, consumer lifestyle, and healthcare goods. The company's headquarters are in Amsterdam, the Netherlands, where it was established in 1891. Philips employs over 77,000 people worldwide and conducts business in more than 100 countries. Philips provides a variety of medical devices and services for the healthcare industry, such as imaging systems, patient monitoring systems, and clinical informatics. Hospitals, clinics, and other healthcare facilities employ the company's products.
The General Electric Corporation (GE) is a multi-national industrial and technological giant with operations in a number of sectors, including healthcare, renewable energy, aviation, and power. Boston, Massachusetts, USA serves as the company's corporate headquarters. It was established in 1892. Almost 180 nations are served by GE, which employs about 205,000 people worldwide. GE provides a variety of medical devices and solutions for the healthcare industry, such as patient monitoring systems, diagnostic imaging systems, and healthcare IT solutions. Hospitals, clinics, and other healthcare facilities employ the company's products.
Key Companies in the Breast Imaging market includes
Breast Imaging Industry Developments
May 2022:QUSTom (Quantitative Ultrasound Stochastic Tomography), a new European project, was directed by the Barcelona Supercomputing Center (BSC). QUSTom's goal is to create a new medical imaging modality based on ultrasound and supercomputing that will enhance or even replace present X-ray-based procedures such as mammography.
March 2022:The NearWave Imager, developed by academics at the University of Notre Dame, is a revolutionary imaging technology for non-invasive breast cancer detection.
June 2022:GE Healthcare and the National Cancer Centre Singapore have joined forces (NCCS). By integrating artificial intelligence and language processing, this collaboration aims to stimulate the prospect of more tailored cancer treatment options and provide the opportunity to evaluate clinically vital information during the patient journey.
North America
Europe
Asia-Pacific
Rest of the World
Breast imaging Market Highlights:
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