Asia Pacific is expected to grow at the highest CAGRin the breast imaging market during the forecast period
Northrook, IL -- (SBWIRE) -- 06/30/2020 -- [215 Pages Report] The Breast Imaging Market is projected to grow from an estimated USD 3.7 billion in 2020 to USD 5.4 billion by 2025, at a CAGR of 8.1% during the forecast period.
The Market growth is largely driven by factors such as technological advancements, the rising prevalence of breast cancer, the increasing number of screening programsas well as rising number of conferences and symposiums focusing on spreading awareness about the benefits of early screening and diagnosis.
Major Market Growth Drivers:
- Growing incidence of breast cancer
- Increasing public–private investments, funding, and grants
- Growing awareness regarding early detection of breast cancer
- Technological advancements in breast imaging modalities
- Growing aging population
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Market Segmentation in Depth:
The ionizing breast imaging segment accounted for the largest share of the breast imaging market, by technology, in 2019
Based on technology, the market is segmented into ionizing imaging technologies and non-ionizing imaging technologies. The ionizing breast imaging technology segment accounted for the largest share of the breast imaging market during the forecast period. The large share of this market segment is primarily due to the technological advancements in ionizing breast imaging technologies and rising awareness about the early screening and diagnosis of breast cancer.
Mammography to dominate the ionizing imaging technologies market during the forecast period
Ionizing imaging technologies segment is categorized into five subsegments, namely, mammography (analog mammography, full-field digital mammography (FFDM), 3D breast tomosynthesis), positron emission tomography-computed tomography (PET-CT), molecular breast imaging/breast-specific gamma imaging (MBI/BSGI), positron emission mammography (PEM), and cone-beam computed tomography (CBCT). Mammography is expected to account for the largest share of the ionizing breast imaging technologies segment during the forecast period. The major share of the segment is attributed to technological advancements and favorable reimbursement scenario in most of developed countries.
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Geographical Regions Mapped in Report:
The breast imaging market is segmented into five regional segments, namely, North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The North American region accounted for the largest share of the breast imaging market in 2019. The rising incidence of breast cancer, easy accessibility and high adoption of advanced diagnostic technologies (owing to the significant per capita annual healthcare expenditure in the US and Canada), presence of a favorable reimbursement scenario, and the rapidly increasing geriatric population in the region are some of the major factors driving the growth of the breast imaging market in North America.
Maior Key Players Mapped in Research Report:
The major players operating in the breast imaging market are Hologic, Inc. (US), GE Healthcare (US), Siemens Healthineers (Germany), Koninklijke Philips N.V. (Netherlands), Fujifilm Holdings Corporation (Japan), Canon Inc. (Japan), Aurora Healthcare US Corp. (US), Allengers (India), Dilon Technologies, Inc. (US), Planmed Oy (Finland), Delphinus Medical Technologies, Inc. (US), Micrima Limited (UK), CMR Naviscan Corporation (US), SuperSonic Imagine (France), and Carestream Health (US).