Globally, breast cancer is one of the most commonly diagnosed forms of cancer and is among the leading causes of cancer death in women. Since the last decade, high prevalence of breast cancer has been observed worldwide and the morbidity rate is rapidly growing
Albany, NY -- (SBWIRE) -- 07/28/2016 -- The global market for breast imaging is majorly driven by the rise in prevalence of breast cancer worldwide. Additionally, initiatives by several governments to spread awareness regarding breast cancer are propelling the growth of the breast imaging market in the global arena. In 2012, the market stood at US$1.84 billion. Analysts expect the market to rise at a CAGR of 12% during the period from 2013 to 2019 and reach US$4.06 billion by 2019.
Among the technology segments of the global breast imaging industry, the markets for nuclear imaging and tomosynthesis are expected to experience robust growth in the near future, wherein the tomosynthesis market is projected to expand at a CAGR of 18.1% during the forecast period. Additionally, the market for ultrasound is expected to report impressive growth on account of its accuracy in detection of cancer.
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Regionally, the breast imaging market in North America led the global industry with a share of 32.6% in 2012. On the account of highly developed medical and healthcare infrastructure and a well-organized regulatory structure, the market in North America is estimated to maintain its dominance over the forecast period. Furthermore, the breast imaging market in Asia Pacific is poised to expand at a healthy growth rate owing to the emerging medical tourism market in the region.
Overall, breast imaging market seems set to develop at a steady pace between 2013 and 2019, but the strict regulatory procedures to gain approval, coupled with less favorable reimbursement policies, are expected to hamper the growth of this market in the near future.
Companies mentioned in the research report
The major participants operating in the global breast imaging market are Aurora Imaging Technologies Inc., FUJIFILM SonoSite, Inc., Dilon Technologies, Inc., GE Healthcare Ltd., Philips Healthcare, Hologic, Inc., SonoCine Inc., and Siemens Healthcare Corp.
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In 2013, the U.S.-based Hologic, Inc. led the global mammography market. In the recent past, the firm has expanded its research and development capabilities and has had an increase in new product launches. The frequency of strategic partnerships and agreements has also been raised to maintain its dominance in the global breast imaging market.
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