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. The global female population with age more than 40 years and those on hormone replacement therapy (HRT) are at a higher risk of breast cancer, and thus, aging of population is one of the major factors that has increased the incidence rate of breast cancer worldwide.
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Breast cancer is identified as the leading cause of cancer-related deaths among women. The incidence of breast cancer has significantly escalated since the last decade, which in turn has increased the mortality rate among women due to cancer. Women aged above 40 years or those who are going through hormone replacement therapy are at higher risk of developing breast cancer. In addition, the expanding number of aging women worldwide has aided the rise in breast cancer cases. Such factors have led the breast cancer imaging market to surge exponentially. Studying the overall dynamics of the global breast cancer imaging market, Transparency Market Research has released a report titled “Breast Imaging Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 – 2019”. As per the findings of the report, the global breast cancer imaging market is likely to reach an estimated valuation of US$4.06 billion in 2019, as against its market value of US$1.84 billion in 2012, thereby expanding at an incredible 12% CAGR between 2013 and 2019.
To present an executive-level synopsis of the present market trends, the report segments the global breast imaging market into breast ultrasound, mammography, tomosynthesis, nuclear imaging, breast MRI, and others (breast thermography and bioelectric imaging), in terms of technology. Of these, mammography uses low-intensity X-rays to develop two-dimensional images of breast tissues. During surveys, it was revealed that approximately 44 million women in the U.S. alone undergo mammography every year, out of whom 36% women are suggested for a second diagnostic test. Many of these women resort to ultrasound breast screening, which has emerged as a promising breast imaging technology to diagnose breast cancer among women. Among other breast imaging technologies, tomosynthesis is expected to develop at a robust 18.1% CAGR during the forecast period and nuclear imaging is also expected to experience significant growth.
For the purpose of presenting a detailed overview, the report segments the global breast imaging market into Asia Pacific, Europe, North America, and the Rest of the World. Of these, North America enjoyed a dominant position with a 32.6% share of the market in 2012. Owing to the presence of highly developed healthcare infrastructure and well-organized regulatory structure, North America has remained the undisputed leader in the global breast imaging market till date. During the forecast period, the market for breast imaging in Asia Pacific is also expected to grow at a significantly high rate. Rapidly improving healthcare infrastructure together with the developing medical tourism market will boost the breast imaging market in Asia Pacific.
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To present a competitive analysis, the report has profiled some of the prominent companies in the market, including GE Healthcare Ltd., Siemens Healthcare Corporation, SonoCine Inc., FUJIFILM SonoSite, Inc., Aurora Imaging Technologies, Inc., and Philips Healthcare.