The global breast imaging market is set to experience strong growth, with revenue expected to rise from USD 4,934.9 million in 2024 to USD 9,263.4 million by 2034, according to the latest industry analysis. This represents a steady CAGR of 6.5% over the forecast period, driven by the increased focus on early cancer detection and the rising prevalence of breast cancer worldwide.
Breast imaging devices are high-tech diagnostic tools used to detect and monitor abnormalities in breast tissue. Key technologies include mammography machines, which utilize X-rays to identify potential obstacles within breast tissue, and ultrasound scanners, which use sound waves to locate and analyze lumps or cysts. These technologies play a pivotal role in early disease detection, significantly improving breast cancer survival rates and enhancing patient outcomes.
The growing use of breast imaging devices in hospitals and diagnostic centers is expected to fuel market growth. As healthcare providers prioritize early screening and preventive care, the demand for effective imaging solutions is rising. Regular breast screening has become a key part of cancer management protocols, and repetitive use of imaging tools has proven instrumental in achieving better patient outcomes and reducing cancer-related mortality rates.
The breast imaging market presents significant growth opportunities for device manufacturers, healthcare providers, and investors. Companies that focus on technological advancements, AI-enabled imaging, and portable ultrasound devices are well-positioned to capture market share. As healthcare systems place greater emphasis on early detection and preventive care, the market for breast imaging devices is poised for sustained growth through 2034.
Key Takeaways:
- Market Valuation: Global breast imaging market sales are projected to grow from USD 4,934.9 million in 2024 to USD 9,263.4 million by 2034.
- Growth Momentum: The market is set to expand at a CAGR of 6.5% from 2024 to 2034, reflecting steady growth over the forecast period.
- 2023 Revenue Benchmark: Revenue stood at USD 4,633.7 million in 2023, showing year-on-year market growth.
- Market Drivers: Rising breast cancer screening programs, early disease detection, and increasing use of mammography and ultrasound imaging technologies are driving market expansion.
Market Drivers
- Technological Advancements: Continuous innovations in breast imaging technologies, such as digital mammography and ultrasound, are enhancing diagnostic accuracy and patient outcomes.
- Rising Incidence of Breast Cancer: The increasing prevalence of breast cancer globally is driving demand for effective screening and diagnostic tools.
- Growing Awareness of Breast Health: Increased public awareness regarding the importance of early detection and regular screening is contributing to market growth.
- Regulatory Support and Funding: Government initiatives and funding aimed at improving breast cancer detection and treatment options are boosting the adoption of breast imaging technologies.
- Integration of AI Technologies: The incorporation of artificial intelligence in breast imaging is improving diagnostic capabilities and operational efficiencies within healthcare settings.
Challenges in the Industry
- High Costs: The cost associated with advanced breast imaging technologies can be a barrier to widespread adoption, particularly in developing regions.
- Regulatory Hurdles: Navigating complex regulatory environments can delay the introduction of new imaging technologies.
- Training Requirements: The need for specialized training for healthcare professionals to operate advanced imaging equipment may hinder adoption rates.
Full Report Revealed – https://www.futuremarketinsights.com/reports/breast-imaging-market
Competitive Landscape
Key players operating in the breast imaging cover market are investing in development of advanced and innovative products that are more reliable and efficient. Also, many of the key players are emphasizing on making strategic collaborations and acquisition for expansion of their geographical presence and strengthening their market share.
Recent Industry Developments in Breast Imaging Market
- In April 2024, Hologic, Inc., signed a definitive agreement for the acquisition of Endomagnetics Ltd (Endomag), a privately held developer of breast cancer surgery technologies. The acquisition in aimed to expand their geographical presence.
- In September 2023, Siemens Healthineers AG launched Mammomat B.brilliant, a new mammography system. These new system was introduced at the annual congress of the European Society of Breast Imaging. This system has ability to moves at a wide angle of 50° which is the largest angle available on the market.
- In November 2023, GE HealthCare launched MyBreastAI Suite, an all-in-one platform for seamlessly deploying the breast imaging workflow. Launch of these product expanded an strengthened company’s product portfolio in the market
Key Players of Breast Imaging Industry
- HOLOGIC, INC.
- GE HEALTHCARE
- SIEMENS HEALTHCARE
- KONINKLIJKE PHILIPS N.V.
- FUJIFILM HOLDINGS CORPORATION
- CANON INC.
Key Segments of Breast Imaging Industry
By Technology:
In terms of Technology, the industry is divided into ionizing breast imaging (mammography, positron emission tomography-computed tomography (PET-CT), molecular breast imaging (MBI), positron emission mammography (PEM), and cone-beam computed tomography (CBCT)) and non-ionizing breast imaging (breast ultrasound, breast MRI, automated whole-breast ultrasound (AWBU), breast thermography, electric impedance tomography and optical imaging)
By End User:
In terms of end user, the industry is segregated into hospitals & clinics, diagnostic imaging centers, breast care centers and other end users
By Region:
Key countries of North America, Latin America, Europe, East Asia, South Asia, Middle East and Africa (MEA), and Oceania have been covered in the report.
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Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
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