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The global breast imaging technologies market is growing significantly due to technological advancement in the detection of breast cancer in the industry. Massive unexplored market in breast imaging technologies industry of developing economies are creating ample opportunities for the breast imaging technologies market to grow at a considerable rate in the coming years.
The advanced research and development facilities and new product developments by the companies are supporting to address the demand for the breast imaging technologies industry. However, strict regulatory approval procedures, and unfavorable reimbursement policies in the developing countries are posing a challenge for the growth of the breast imaging technologies market.
Breast cancer is the most common cancer in women. According to International Agency for Research on Cancer (IARC) and World Health Organization (WHO), globally, approximately 1.7 million new cases of breast cancer were diagnosed in 2012. As the incidence of breast cancer is increasing significantly, development of improved technology with less radiation exposure is also expected to support the growth of the breast imaging technologies market.
On the basis of devices technology, the breast imaging technologies market is categorized as ionizing breast imaging technologies and non-ionizing breast imaging technologies. Ionizing breast imaging technologies are further categorized as analog mammography, 3D breast tomosynthesis, positron emission tomography, and others. Non-ionizing breast imaging technologies devices market is further categorized as breast magnetic resonance imaging, breast ultrasound, breast theromography, and others. Ionizing breast imaging technologies dominates the global breast imaging technologies market; whereas, non-ionizing breast imaging technologies is the fastest growing product category of breast imaging technologies market, due to increasing need for lower dose of radiation exposure.
Some of the factors driving the global growth of breast imaging technologies market are rise in geriatric population, increasing prevalence and incidence of breast cancer cases, increasing awareness of early screening of breast cancer, development of advanced breast imaging technologies, increasing demand for use of minimally doses of radiation, and increasing government funding and investment for breast cancer treatment and research. However, high installation cost of breast imaging system, side effects of radiation exposure, government pressure to reduce the usage of radiation dose, and errors in breast cancer screening and diagnosis are some of the factors restraining the growth of the breast imaging technologies market to some extent.
Geographically, North America will be leading the global breast imaging technologies market in the coming years due to technological advancement in breast imaging, rising awareness of early detection of breast cancer and increasing government initiatives and funding in research and product innovations in the region. Moreover, Asia-Pacific is the fastest growing region in the global breast imaging technologies market. The major reasons for the fastest growth in the region are increasing healthcare expenditure, increasing incidence and prevalence of breast cancer cases, increasing government initiatives and investment in breast imaging technologies, and improving healthcare infrastructure in the region. Moreover, the breast imaging technologies market is growing due to increasing awareness about women health in the emerging countries, such as India and China, of Asia-Pacific region.
Some of the companies operating in the breast imaging technologies market are Toshiba Corporation, Aurora Imaging Technologies, Dilon Technologies, Inc., Gamma Medica, Inc., Sonocine, Inc., Siemens Healthcare, Philips Healthcare, GE Healthcare, Dune Medical Devices, U-Systems, Inc., and Hologic, Inc.