Breast imaging is a medical technology used to diagnose breast cancer in females. Breast imaging medical technology helps diagnose many breast-related disorders by providing radiological images of women's breasts. Breast imaging technology includes nuclear imaging, mammography, breast ultrasonography, and magnetic resonance imaging (MRI). The primary goal of this test is to detect breast cancer and other breast-related disorders as early as possible while they are still treatable.
The global breast imaging market size in 2021 was $4.14 billion, and by 2030, it will reach $8.79 billion at a CAGR OF 8.73% during the 20201-2030.
COVID-19 impact analysis
High disease rates among health care workers as a result of COVID-19 are constantly decreasing medical staff availability. According to the World Health Organization (WHO), the COVID-19 pandemic has affected over 22,000 healthcare workers in 52 countries as of April 2020, and the number of healthcare workers who tested positive for the coronavirus in the United States is likely to be far higher than the reported tally of 9,200. This increase is reducing the availability of medical staff for cancer treatment, negatively impacting the breast imaging market.
The rising incidence of breast cancer is fuelling the growth of the breast imaging market.
One of the key factors driving the growth of the breast imaging market is the continuous increase in breast cancers. According to the WHO, there will be 2.3 million women diagnosed with breast cancer in 2020, with 685 000 deaths worldwide. By the end of 2020, 7.8 million women will have been diagnosed with breast cancer in the previous five years, making it one of the world's most common types of cancer. Furthermore, according to Breast Cancer.org, approximately 43,600 women in the United States are expected to die from breast cancer in 2021. From 2013 to 2018, the overall rate of breast cancer death decreased by 1% per year. These reductions are believed to result from improved treatment and early diagnosis through screening processes. As of January 2021, there were over 3.8 million women in the United States with a history of breast cancer, including those who are currently being treated and those who have completed treatment.
The increase in the number of breast cancer cases worldwide has led to an increase in the use of a variety of breast screening processes such as breast MRI, breast tomosynthesis, Molecular breast imaging, Positron emission mammography, Contrast-enhanced mammography, Electrical impedance imaging, Elastography, gynecomastia ultrasound, mastitis ultrasound, breast sonogram, gynecomastia radiology, galactocele radiology which is also driving the overall market growth.
Growing awareness for early detection of breast disease supports market growth.
In recent years, the rising incidence of breast cancer and its associated mortality at a young age and its delayed presentation have motivated women to seek medical assistance as soon as possible. Many breast cancer cases in developing countries are diagnosed late due to a lack of awareness about early warning signs and diagnostic tests. As a result, various organizations worldwide are implementing breast cancer awareness programs and campaigns. As an example:
- Every year, a non-profit organization in the United States called the National Breast Cancer Foundation, Inc. organizes the National Mammography Program, which offers free mammograms and diagnostic services for the early detection and treatment of breast cancer.
Such programs will increase awareness related to the detection and treatment of breast cancer and drive the growth of the breast imaging market.
Technological advancements and development offers opportunity and supports the breast imaging market growth.
Imaging technology development in recent years has transformed the aspect of treatment and approach to it. Using imaging technologies such as CT scans, MRIs, PET scans, and others to visualize organs' metabolic information and anatomic details has become increasingly important. Furthermore, these integrated imaging techniques have improved breast image quality, patient comfort, and patient dose. Because of these advantages, manufacturers worldwide are focusing more on new product launches to improve the sensitivity and accuracy of breast cancer diagnostics.
Breast imaging market restraints
The high cost of imaging technology will hinder the market growth. In addition, the unfavorable reimbursement scenario in developing and underdeveloped economies will be a significant challenge for the breast imaging market.
Segmentation analysis
The global breast imaging market is segmented on the basis of technology and end-user.
- The technology segment of the breast imaging market is divided into ionizing breast imaging and non-ionizing breast imaging technology.
Ionizing breast imaging technology is then segmented into mammography, molecular breast imaging, positron emission tomography-computed tomography, cone-beam computed tomography, positron emission mammography.
Non-ionizing breast imaging technology is segmented into breast ultrasound, automated whole-breast ultrasound, breast MRI, electric impedance tomography, breast tomography, and optical imaging.
With the highest CAGR, the 'Non-ionizing Breast Imaging' segment was the market leader in 2020. The benefits of non-ionizing breast imaging technologies, such as the detection of small breast lesions in women with dense breast tissues and the depth of anatomical details for diagnosis, are driving overall market growth in this region.
The 'Breast Ultrasound' segment dominated the market comprehensively among the 'Non-ionizing Breast Imaging' segment, with a total share of 58.71% of the total breast imaging market and a CAGR of 11.18%.
- By end-user, the breast imaging market is segmented into hospitals & clinics, Diagnostic imaging centers, and breast imaging centers.
With a constant CAGR value, the 'Hospitals & Clinics' segment remarkably dominated the market in 2020. The increase in government funding for breast cancer treatments and healthcare infrastructures, the higher rate of breast cancer patient admissions in hospitals, and the presence of highly skilled surgeons are all driving the market in this segment forward.
Regional analysis
Regionally the global breast imaging market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
North America ruled the entire breast imaging market with a total share of 39.47% in 2020 due to the increasing cases of breast cancer. As per a report by the National Breast Cancer Foundation, approximately 276,480 new cases of invasive and 48,530 new cases of non-invasive breast cancer were diagnosed in 2020.
The Asia-Pacific region had the fastest growth rate and the highest CAGR value. The rising incidence of breast cancers, rising healthcare expenditures, rising awareness programs for early detection of breast cancers, and massive government spending on breast cancer research studies in several APAC countries are the major factors driving the growth of the Asia Pacific breast imaging market. As per GLOBOCAN 2018, 911,014 new cases of breast cancer were diagnosed in Asia in 2018, with the number expected to rise by 229,650 by 2030.
Competitive landscape analysis
Market players use several growth strategies, such as product launches and enhancements, partnerships, and strategic acquisitions, to strengthen their product portfolios and maintain a competitive breast imaging market.
Key players operating in the breast imaging market are:
- Hologic Inc.
- Siemens Healthineers
- GE Healthcare
- Canon INC.
- Koninklijke Philips N.V.
- Allengers
- Aurora Healthcare US Corp.
- Dilon Technologies, Inc.
- CMR Naviscan Corporation
- Micrima Limited
- SuperSonic Imagine
- Carestream Health
- Other players
Technological advancements, the rising prevalence of breast cancer, the increasing number of screening programs, and the increasing number of conferences focusing on spreading information about the advantages of early screening and diagnosis are all driving market growth. The emerging markets, increasing government and private investments to meet the increasing demand for breast cancer screening, and the improving reimbursement scenario are expected to provide market participants with a wide range of growth opportunities.
