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Breast Imaging Market Expected to Reach $7.3 Billion by 2024
In 2012, the WHO estimated that around 53.0% of the global women population (1.8 billion women) is anticipated to suffer from breast cancer over their lifespan. This alarmingly rising rate is expected to be the preliminary driver for this market over the forecast period.
The rising base of the geriatric population is another high impact rendering driver of the breast imaging market. A study by the NCBI (National Center for Biotechnology Information) stated that the incidence of breast cancer is higher in patients above the age group of 45.
Increasing expenditure on R&D coupled with government funding are the other vital factors expected to trigger market growth over the forecast period. In 2013, the National Institute of Health, in the U.S. provided a grant amounting to USD 5.6 billion to conduct research on breast cancer. Digital mammography is one of the technologies gaining popularity as compared to other technologies, which is expected to positively reinforce this market's growth.
However, the high cost of the existing imaging systems coupled with the stringent regulatory policies governing the approval of new products and marketing are predicted to slowdown growth.
Browse full research report with TOC on "Breast Imaging Market Analysis, By Technology (Ionizing Technology, Non-Ionizing Technology) And Segment Forecasts to 2024" at: https://www.grandviewresearch.com/industry-analysis/breast-imaging-equipment-market
Further key findings from the study suggest:
The 3D tomosynthesis segment is identified as the fastest growing segment. This technology offers enhanced efficiency and higher diagnostic accuracy in comparison to other available technologies, which is expected to aid market growth. North America is likely to dominate throughout the forecast period with a revenue share of over 30.0% by 2024.Government initiatives including the precision medicine initiative, started by President Obama in 2015, promotes the development of personalized medicine, which is anticipated to foster market growth. Asia Pacific is anticipated to grow at the fastest rate of12.0% over the forecast period. The Increasing number of investments in the healthcare sector coupled with the rising awareness of breast cancer and other associated conditions is anticipated to propel the market growth in this region. Some major players of the market are Siemens Healthcare, GE Healthcare, Dilon Technologies, Inc., Hologic, Inc., Gamma Medica, Inc., Fujifilm Holdings Corporation, SonoCine, Inc., Philips Healthcare, Toshiba Corporation, and Aurora Imaging Technology, Inc. In order to gain a competitive advantage in the market, the key industry players are adhering to mergers, acquisitions and collaborative agreements. For instance, in January 2016, Gamma Medica, Inc. entered into a contract with Alpha Imaging Technology Corp. for the commercialization of its new product, Luma GEM.Grand View Research has segmented Breast Imaging market on the basis of technology and region.
Global Breast Imaging Market Technology Outlook (Revenue, USD Million, 2013 - 2024) Ionizing technology Full-Field Digital Mammography Analog Mammography Positron Emission Mammography Electrical Impedance Tomography Cone Beam Computed Tomography Positron Emission Tomography & Computed Tomography 3D Breast Tomosynthesis Molecular breast imaging/breast-specific gamma imaging (MBI/BSGI) Non-ionizing technology Breast MRI Breast Thermography Breast Ultrasound Optical Imaging Automated Whole-Breast Ultrasound Breast Imaging Market Regional Outlook (Revenue, USD Million, 2013 - 2024) North America U.S. Canada Europe UK Germany Asia Pacific Japan China Latin America Brazil Argentina MEA South Africa Saudi Arabia
About Grand View Research:
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
