Breast Imaging Technologies Market is expected to witness significant growth during the forecast period owing to increase in incidence of breast cancer worldwide
Portland, OR -- (SBWIRE) -- 10/11/2017 -- 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.
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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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Global Breast Imaging Technologies Market size was valued at $2,544 million in 2015 and is expected to reach $4,502 million by 2022, growing at a CAGR of 8.4% during the study period. This market is expected to witness significant growth during the forecast period owing to increase in incidence of breast cancer worldwide and proactive initiatives by healthcare organizations to raise awareness about early breast cancer detection.