Global Breast Imaging Market Insights Forecasts to 2032

• The Global Breast Imaging Market Size was valued at USD 4.7 billion in 2022.
• The market is growing at a CAGR of 9.6% from 2022 to 2032.
• The worldwide Breast Imaging Market size is expected to reach USD 11.8 billion by 2032.
• Asia Pacific is expected to grow the fastest during the forecast period.

The Global Breast Imaging Market Size is expected to reach USD 11.8 billion by 2032, at a CAGR of 9.6% during the forecast period 2022 to 2032.

Market Overview

Breast imaging is a type of medical technology used to detect or diagnose breast cancer in female patients. Breast imaging technology utilizes radiological images of women's breasts to assist in the diagnosis of a variety of breast-related diseases. Mammography, breast ultrasound, magnetic resonance imaging (MRI), and nuclear imaging are all breast imaging methods. This test's primary objective is to identify breast cancer and other conditions connected to the breast as early as possible, while they are still curable. According to the World Cancer Research Fund (WCRF), there will probably be 2.1 million new instances of breast cancer worldwide by 2030. Additionally, according to a World Health Organization study on the condition that was published in March 2021, more than 2.3 million women worldwide received a diagnosis in 2020, and 685,000 of them passed away due to the disease's severity. The majority of individuals with breast cancer across the world receive their diagnosis mostly through breast imaging. Throughout the forecast period, this factor is anticipated to aid in market expansion.

Report Coverage

This research report categorizes the global breast imaging market based on various segments and regions and forecasts revenue growth and analyses trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global breast imaging market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the global breast imaging market. Technological innovation and advancement will further optimize the performance of the product, enabling it to acquire a wider range of applications in the downstream market.

Driving Factors

Market participants may anticipate a wide range of growth possibilities due to the burgeoning markets, increased public and private investments to address the rising need for breast cancer screening, and the improved reimbursement environment. Also, technology advancements, the rising number of screening programs, as well as the rising number of conferences and symposiums aimed at raising awareness of the advantages of early detection and diagnosis, all play a significant role in the market's growth. Moreover, due to the expanding markets, higher public and private expenditures to address the increasing demand for breast cancer screening may anticipate a wide variety of growth prospects. Furthermore, as the number of occurrences of breast cancer in women has significantly grown, so has the usage of various technologies for its detection. It is predicted that the number would rise in the upcoming years for several reasons. This rise is being driven by the introduction and growing usage of advanced mammography equipment equipped with cutting-edge technology. For example, Seno Medical Instruments' diagnostic breast cancer imaging technology gained premarket approval from the Center for Devices and Radiological Health in the United States in January 2021.

Restraining Factors

The ionizing radiation is used for diagnosis in a few breast imaging techniques. Ionizing radiation is used in digital mammography (DM), and digital breast tomosynthesis (DBT), as well as potential new breast screening techniques. Consequently, increasing radiation exposure risk may restrain the breast imaging business. The growth of the market will be restrained by the high cost of imaging systems or technologies. The breast imaging industry will also face significant challenges from the unfavorable reimbursement environment in emerging and underdeveloped nations. Strict regulatory approval procedures and the appearance of unfavorable conditions as a result of the COVID-19 epidemic will, however, serve as restraints and further restrict the market's growth rate during the projected period. 

Market Segmentation

• In 2022 the ionizing breast imaging segment is influencing the market share by around 63.2% during the forecast period.

Based on technology, the global breast imaging market is segmented into ionizing breast imaging {mammography, positron emission tomography-computed tomography (PET-CT), molecular breast imaging (MBI)}, non-ionizing breast imaging {ultrasound, MRI, image-guided breast biopsy}, and others. Among these segments, the ionizing breast imaging segment is dominating the market with the largest revenue share during the forecast period. New ionizing technology-based breast imaging technologies are expected to be released in the following years, which will cause the category to grow. The market is expected to grow due to funding for improvements in already existing ionization-based technologies. Additionally, the bulk of market players continues to be dedicated to increasing their technology investments to provide customers with better goods.

• In 2022, the hospital segment is dominating the largest market growth over the forecast period.

On the basis of end users, the global breast imaging market is bifurcated different segments such as hospitals, breast care centers, & diagnostic imaging centers. Throughout these segments, the hospital's segment is dominating the market, due to the availability of innovative and well-equipped breast imaging equipment inside a hospital has a favorable impact on several variables, including length of hospital stay, the overall cost of healthcare, level of care, and accessibility to emergency treatment. Also, better infrastructure and diagnostic tools are now available because of investments. Additionally, it has been advantageous since it has given all hospital-based healthcare services adequate health coverage. These are the primary elements that will contribute to the expansion of the hospital market in the next years.

Regional Segment Analysis of the global breast imaging market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

North America dominates the market with the largest market share revenue of around 37.8% over the forecast period

North America is influencing the significant market growth during the forecast period due to the market for breast imaging is expanding as a result of the increasing number of breast cancer patients in this region. According to the American Society of Clinical Oncology's page on breast cancer statistics for 2022, there are expected to be 51,400 new cases of non-invasive (in situ) breast cancer and 287,850 new cases of invasive breast cancer among women in the United States in that year. Thus, the high frequency of breast cancer in the U.S. is anticipated to fuel the expansion of the breast imaging industry in this region. Also, the market's expansion in the North American area is anticipated to be aided by the rise in the use of highly advanced imaging methods and systems, as well as technical developments in the detection of breast cancer. The region's rapid market expansion is attributed in part to the high level of public knowledge of the existence of cutting-edge diagnostic methods for breast imaging.

Asia-Pacific is expected the second-largest growing region over the forecast period

Asia-Pacific is expected the second largest-growing region during the forecast period. The market's expansion is primarily driven by the rising incidence of breast cancer, significant R&D expenditures on treatments for the disease, and advancements in breast imaging technologies. Also, the region's high rate of economic expansion. The need for diagnosis is anticipated to expand as breast cancer cases in this area rise. Furthermore, The Asia-Pacific region's market growth is projected to be boosted by the presence of growing nations like China, Japan, and India. The breast imaging market is anticipated to grow throughout the forecast period as a result of leading businesses' ongoing attempts to reach Asia Pacific's rising markets.

Competitive Analysis

The report offers the appropriate analysis of the key organizations/companies involved within the global breast imaging market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• GE Healthcare
• Hologic, Inc.
• Philips Healthcare
• Gamma Medica, Inc.
• Siemens Healthcare
• Fujifilm Holdings Corp.
• SonoCine, Inc.
• Toshiba Corporation,
• Dilon Technologies, Inc.
• Aurora Imaging Technology, Inc.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Development

• In June 2022, The National Cancer Centre Singapore (NCCS) and GE Healthcare collaborated. By utilizing text processing and artificial intelligence, this cooperation aims to encourage the development of more tailored cancer treatment choices and provide patients the chance to review clinically significant data while they are in the process of getting therapy.

• In May 2022, The Barcelona Supercomputing Center (BSC) supervised the new European project QUSTom (Quantitative Ultrasound Stochastic Tomography). A novel medical imaging modality based on ultrasound and supercomputing is being developed by QUSTom to supplant or even replace existing X-ray-based methods like mammography.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2022 to 2032. Spherical Insights has segmented the Global Breast Imaging Market based on the below-mentioned segments:

Global Breast Imaging Market, By Technology

• Ionizing Breast Imaging

• Mammography
• Positron Emission Tomography-Computed Tomography (PET-CT)
• Molecular Breast Imaging (MBI)

• Non-ionizing Breast Imaging

• Ultrasound
• MRI
• Image-guided breast biopsy}, and
• Others

Global Breast Imaging Market, By End Users

• Hospitals
• Breast Care Centers
• Diagnostic Imaging Centers

Breast Imaging Market, By Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa