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Breast Imaging Technologies Market Overview
In the near future, the global breast imaging technologies market size is predicted to register considerable growth, majorly because of the technological advancements in the field of breast cancer detection. In addition to this, the surging cases of breast cancer across the world and increasing risk factors for breast cancer, such as low child-bearing, obesity, and hormone replacement therapy are also projected to drive the market in the coming years.
The two major breast imaging technologies are non-ionizing and ionizing breast imaging technologies. The non-ionizing breast imaging technologies are expected to witness the faster growth in the near future in the breast imaging technologies market, which is ascribed to the rising requirement for lower dose radiation. Breast thermography, breast magnetic resonance imaging, and breast ultrasound are some of the devices which are based on the non-ionizing breast imaging technologies.
The ionizing breast imaging technologies category held the largest breast imaging technologies market share in the past. This is because of the extensive usage of these technologies in healthcare institutions and technological advancements in the field. Furthermore, ionizing imaging provides more precision and clarity in diagnosis, which is why it is preferred over other technologies. The devices that make use of this technology include positron emission tomography, analog mammography, and 3D breast tomosynthesis.
The major end users of breast imaging technologies are ambulatory surgical centers, diagnostic centers, and hospitals. Out of these, the hospital category is projected to register considerable growth in the coming years in the breast imaging technologies market. This is ascribed to the availability of specialized technology-based breast imaging techniques in these facilities along with the improving infrastructure. Apart from this, the category’s growth is also taking place due to the increasing number of hospitalizations.
When geography is taken into consideration, North America is predicted to hold the largest breast imaging technologies market share in the near future, owing to the growing awareness regarding early detection of breast cancer, technological advancements, and rising initiatives and funding in research and product innovations in the region. U.S. is expected to witness significant growth because of the increasing incidence of breast cancer. Furthermore, Asia-Pacific is projected to register the fastest growth in the coming years due to the rising healthcare expenditure, heavy investments in breast imaging technologies, and improvements in the healthcare infrastructure in the region.
Breast Imaging Technologies Market Dynamics
The surging prevalence of breast cancer is a major driving factor for the breast imaging technologies market growth. The most common cancer in women is breast cancer; as per the International Agency for research on Cancer and the World Health Organization, about 1.7 million new cases of cases of breast cancer were diagnosed in 2012 around the world. Because of this, the development of enhanced technology with less radiation exposure is also taking place.
Technological advancements are also among the primary driving factors of the breast imaging technologies market. For example, in March 2018, the U.S. Food and Drug Administration approved Hologic Inc.’s advanced Intelligent 2D imaging technology and Clarity HD high-resolution 3D imaging. The product offers improved accuracy and clarity in breast imaging with comfort and regardless the density of breast. Moreover, the massive unexplored market in emerging economies is also predicted to create wide opportunities for the players operating in the breast imaging technologies industry.
Breast Imaging Technologies Market Competitive Landscape
Some of the major players operating in the global breast imaging technologies market include Aurora Imaging Technologies Inc., Toshiba Corporation, Dilon Technologies Inc., Sonocine Inc., Gamma Medica Inc., Siemens Healthcare, GE Healthcare, Philips Healthcare, Dune Medical Devices, and U-Systems Inc.