Breast imaging refers to various techniques used for detection, diagnosis, and screening of breast abnormalities. Mammography remains the gold standard test for breast cancer screening. It uses low-dose x-rays to examine breast tissue and detect tumors long before physical symptoms appear. It is a non-invasive test that is widely used for routine breast screening. 3D mammography or digital breast tomosynthesis (DBT) is an advanced form of mammography that produces 3D images of breast tissue. Ultrasound uses high-frequency sound waves to create images of the breast tissue and distinguish between solid and fluid-filled areas, determining if a lump is a cyst or solid tumor.

The global breast imaging market is estimated to be valued at US$ 4840.71 Mn  in 2023 and is expected to exhibit a CAGR of 5.6%  over the forecast period from 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:

The rising incidence of breast cancer remains the primary driver fueling the demand for breast imaging modalities globally. According to the American Cancer Society, an estimated 287,850 new cases of breast cancer are expected to occur among women in the United States in 2022. Increasing investments by governments and private institutions in breast cancer screening programs are expected to boost the market growth over the forecast period. Various technological advancements in mammography, such as 3D mammography, provide improved detection capabilities with greater specificity and sensitivity. 3D mammography is able to identify more invasive cancers and decrease false-positive rates compared to 2D mammography. This is expected to favor market growth during the forecast period.

SWOT Analysis
Strength: The Breast Imaging Market Demand  has advanced significantly in recent years with the development of innovative and technologically advanced imaging modalities like digital breast tomosynthesis and contrast-enhanced spectral mammography. These new modalities offer improved cancer detection rates and reduce callbacks compared to full-field digital mammography. Furthermore, growing awareness about early detection and screening of breast cancer has increased the demand for various breast imaging procedures.

Weakness: However, breast imaging modalities like mammography expose patients to ionizing radiation which may potentially increase the risk of secondary cancers. Additionally, interpreting mammography images requires specialized radiologists which are not uniformly available across all geographic regions.

Opportunity: The breast imaging market has strong growth opportunities in developing regions due to increasing healthcare spending and improving access to modern diagnostic technologies in these areas. Furthermore, the ongoing development of artificial intelligence and machine learning algorithms has the potential to make breast cancer screening more efficient by assisting radiologists in image analysis.

Threats: Nonetheless, the high cost of advanced breast imaging systems like 3D mammography remains a major challenge, especially in price-sensitive developing markets. Additionally, the COVID-19 pandemic has disrupted screening practices and diagnostic workflows, negatively impacting market revenues in the short-term. Stringent regulations governing the approval of new breast imaging systems also limit opportunities for market entry.

Key Takeaways

The global breast imaging market is expected to witness high growth over the forecast period supported by rising incidence of breast cancer worldwide, growing public-private investments for improving early detection, and rapid technological advancements. The global breast imaging market is estimated to be valued at US$ 4840.71 Mn  in 2023 and is expected to exhibit a CAGR of 5.6%  over the forecast period from 2024 to 2031.

North America currently dominates the market owing to the widespread acceptance of advanced breast imaging modalities and favorable reimbursement policies in the region. Asia Pacific is projected to be the fastest growing regional market for breast imaging during the forecast period. This can be attributed to factors like rising healthcare spending, growing public-private partnerships to strengthen diagnostic infrastructure, and improving reimbursement scenarios across developing countries. China, India and other Southeast Asian countries offer immense growth prospects owing to their large population bases and huge unmet needs. Industrialization and urbanization have also increased the incidence of lifestyle-related cancers like breast cancer in Asia. Furthermore, leading global players are focusing on expanding their presence in Asia to gain first-mover advantages.

Key players operating in the breast imaging market include Hologic, Inc., GE Healthcare, Siemens Healthineers, Philips Healthcare, Fujifilm Holdings Corporation, Canon Inc.

Explore more related article on this topic: https://www.pressreleasebulletin.com/the-global-breast-imaging-market-growth/

https://techaxen.com/medicine-testing-services-in-the-us-ensuring-product-safety-and-compliance/