The global breast imaging market size can expand at a CAGR of 8.5% from 2017 to 2023 (forecast period) due to rising cases of breast cancer. According to the World Health Organization (WHO), breast cancer is the second biggest form of cancer with more than 200,000 cases being discerned globally. Technological breakthroughs in diagnostic equipment and increase in healthcare expenditure of developed and developing economies for tackling the disease can work in favor of the market.
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Government initiatives for creating awareness among both the genders as well as new imaging methods for conducting faster breast biopsies can drive the market growth. For instance, the SAVI SCOUT technology can be used to pinpoint the exact location of the tumor by surgeons with the help of an infrared reflector. The need for minimally invasive procedures for biopsies can widen the growth prospects of the global breast imaging market.
But the high cost of breast imaging solutions and low awareness levels of breast cancer among women in low-income economies can restrain the market growth.
Aurora Imaging Technology, Inc., Sonocine, Inc., General Electric Company, Dilon Technologies, Inc., Koninklijke Philips N.V., Gamma Medica, Inc., Toshiba Corporation, Fujifilm Holdings Corporation, Hologic, Inc., Siemens, and others are prominent names in the global breast imaging market. Partnerships are being increasingly seen for players to showcase their latest products. For instance, Fujifilm has inked a partnership contract with Max Healthcare for training doctors in the latest breast imaging technology.
Mammography is one of the latest technologies for identifying lesions in heavy breasts. 3D mammography can identify the same with higher efficiency and accuracy and increasing the diagnosis rate. Follow-up exams of women after removal of surgery from breasts are likely to induce the demand for 3D mammography.
The global breast imaging market is segmented on the basis of type, application, and end user.
On the basis of type, market is segmented into PET, mammography, CT, MRI, breast biopsy, tactile imaging, ultrasound, and others. Mammography is further segmented into 3D mammography, film-screen mammography, Full-field digital mammography (FFDM), scintimammography or molecular breast imaging, and others. Breast biopsy is further segmented into ultrasound-guided core biopsy, image-guided breast biopsy, tactic core biopsy, and others.
On the basis of application, the market is segmented into metastatic axillary adenocarcinoma, breast cancer diagnosis, post-neoadjuvant chemotherapy, and others.
On the basis of end user, the market is segmented into diagnostic centers, hospitals, and others.
The Middle East & Africa (MEA), Europe, Asia Pacific (APAC), and the Americas are regions taken into consideration during the compilation of the global breast imaging market report.
The Americas is one of the biggest regions for the market due to high incidence of breast cancer, development of novel imaging devices, and new imaging devices for faster biopsy results. North America, a prominent area within the Americas, is driven by the large use of screening procedures for breast cancer. The changing lifestyles of women and increasing emphasis on women healthcare can drive the regional demand for breast imaging in the Americas market.
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The European region is fueled by the inflow of capital accorded to research and development institutes in economies of Germany and the U.K. The growth witnessed in the medical device industry and availability of breast imaging technologies can augur in favor of the global breast imaging market growth.
The APAC region is fueled by numerous opportunities for expansion in Japan, China, and India. Rising number of investments in the healthcare sector combined with awareness of breast cancer can drive the regional demand for breast imaging devices and latest techniques. The immense demand for cost-effective diagnostic solutions as well as the spate of women health awareness programs can bode well for the global breast imaging market.
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