Proactive initiatives by healthcare organizations to raise awareness are set to increase the demand for breast imaging technologies worldwide. These initiatives help individuals to gain information about the availability of imaging technologies, which can be used for the screening and diagnosis of breast cancers, thus boosting the market growth.
Portland, OR -- (SBWIRE) -- 01/05/2017 -- Breast Imaging Technologies Market Report, published by Allied Market Research, forecasts that the global market is expected to garner $4,502 million by 2022, registering a CAGR of 8.4% during the period 2016-2022.North America and Europe together accounted for over three-fourths market share in 2015. Ionizing breast imaging technology is expected to maintain its lead throughout the forecast period.
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The market is expected to be driven by the rise in incidence of breast cancer globally, favorable reimbursement policies, and growth in geriatric population base. Moreover, technological advancements, such as 3D mammography, which help in the detection of breast cancer in women with dense breast tissues, boost the market growth. However, high cost of these imaging modalities and stringent regulatory approval processes are set to restrict the market growth.
Ionizing breast imaging technologies market accounted for major share of the global market in 2015, owing to their ability to detect breast cancer in early stages, thus increasing the chances of survival. Moreover, advancements in breast imaging tools facilitate faster interpretation of breast tissue and generate less false positive results as compared to MRI, which further accelerates the market growth. Non-ionizing imaging technologies are projected to grow with the highest CAGR, due to the introduction of better imaging modalities such as automated whole breast ultrasound system (ABUS). In addition, unlike ionizing breast imaging technologies, these techniques use infrared radiations, reducing the risk of developing radiation-induced cancer, which is thus anticipated to witness an increased demand in future.
Full-field digital mammography systems segment contributed for the major market share in 2015, as the technique is time efficient and utilizes a lesser radiation dose than film mammography. Moreover, the radiologists can adjust the darkness or brightness of the breast image due to which it is easier to observe differences between breast tissues in digital mammography. 3D breast tomosynthesis segment is projected to grow at the fastest rate during the forecast period, as this imaging technology facilitates easy detection of breast cancer in women with dense breast tissues.
Breast MRI segment dominated the non-ionizing breast imaging technologies market in 2015, owing to the associated benefits such as visualization of the breast in any orientation, which makes it highly sensitive to small abnormalities; while the breast ultrasound is anticipated to grow with the highest CAGR from 2016 to 2022.
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Key findings of the Breast Imaging Technologies Market:
A) The ionizing breast imaging segment accounted for almost two-thirds of the total market in 2015, while non-ionizing breast imaging technologies is expected to be the fastest growing segment, recording a CAGR of 9.2% during the forecast period.
B) Full-field digital mammography system accounted for more than three-fourths of the total ionizing breast imaging technologies market in 2015.
C) 3D breast tomosynthesis segment is expected to grow with the highest CAGR of 9.9%.
D) Among non-ionizing breast imaging technologies, breast MRI accounted for nearly two-fifths of the total market share in 2015. On the other hand, breast ultrasound is poised to grow at a faster rate at a CAGR of 9.9%.
E) Asia-Pacific is expected to expand at the highest CAGR of 9.5%.
North America was the highest revenue contributor to the global revenue in 2015 and is expected to maintain this trend throughout the forecast period. This is due to the rise in incidence of breast cancer, growth in awareness among patients regarding better breast imaging modalities, and availability of advanced healthcare facilities.
The key players profiled in this report include Dilon Technologies, Inc., FUJIFILM Holdings Corporation, Gamma Medica, Inc., General Electric Company, Hologic, Inc., Koning Corporation, Koninklijke Philips N.V., Siemens AG, Sonocin, Inc., and Toshiba Corporation.