The global breast imaging market was valued at USD 4.7 billion in 2022 and is projected to expand at a compound annual growth rate (CAGR) of 8.6% from 2023 to 2030. Several key factors are driving this growth, including the rising prevalence of breast cancer, continuous technological advancements in the field of breast imaging, and increased investment from organizations and governments in breast cancer screening programs. These trends are contributing to the widespread adoption and enhancement of breast imaging technologies globally.

Rising Breast Cancer Prevalence

One of the primary drivers of the breast imaging market is the increasing prevalence of breast cancer worldwide. According to the World Cancer Research Fund (WCRF), the number of breast cancer cases is projected to reach approximately 2.1 million by 2030, highlighting the growing global burden of the disease. The World Health Organization (WHO) also reported in March 2021 that in 2020, over 2.3 million women were diagnosed with breast cancer globally, and the disease led to the deaths of approximately 685,000 women. These figures underscore the critical importance of early diagnosis and screening, which is largely facilitated by advanced breast imaging technologies.

Importance of Breast Imaging in Diagnosis

Breast imaging is the primary diagnostic method for the majority of breast cancer patients worldwide. Techniques such as mammography, ultrasound, and MRI play a pivotal role in the detection of tumors and abnormalities in breast tissue. Early detection of breast cancer has been shown to significantly improve survival rates, as it allows for timely interventions and more effective treatments. As the awareness of breast cancer’s prevalence and the importance of early screening continues to grow, the demand for breast imaging solutions is expected to increase throughout the forecast period, driving market growth.

Increased Demand for Early Detection and Screening

In recent years, the growing frequency of breast cancer, particularly among younger women, and its associated mortality rate have prompted increased attention to the need for early detection. Many cases of breast cancer, especially in developing countries, are diagnosed at advanced stages due to a lack of awareness about the early warning symptoms and the availability of effective screening methods. As more women seek medical attention earlier in the disease progression, the demand for breast imaging technologies is likely to rise.

Gather more insights about the market drivers, restrains and growth of the Breast Imaging Market

Regional Insights

North America

North America led the breast imaging market in 2022, holding a share of around 37.8% in terms of revenue. The region is expected to maintain a robust growth rate throughout the forecast period due to several key factors. One of the primary drivers of market growth in North America is the rising prevalence of breast cancer. According to the American Society of Clinical Oncology in its 2022 Breast Cancer Statistics report, an estimated 287,850 women in the U.S. will be diagnosed with invasive breast cancer in 2022, and an additional 51,400 women will be diagnosed with non-invasive (in situ) breast cancer. This high incidence of breast cancer underscores the need for effective diagnostic tools, and as a result, breast imaging is becoming increasingly critical in the healthcare system.

Additionally, guidelines released by the U.S. Centers for Disease Control and Prevention (CDC) in September 2020 have further bolstered the importance of breast cancer screenings. These guidelines, endorsed by key cancer research organizations like the American Cancer Society, the American College of Obstetricians and Gynecologists, and the American College of Radiology, recommend that women between the ages of 40 and 49 undergo breast cancer screening annually. As more women follow these guidelines, the demand for breast imaging services is expected to rise, contributing to the market's growth in North America.

Another factor driving the market in the region is the increased adoption of innovative technologies in breast imaging. For example, in May 2022, iSono Health's ATUSA system, a portable breast imaging device that automatically scans the entire breast and generates a three-dimensional image of breast tissue, received FDA approval. This represents a significant leap in breast imaging technology, enhancing the accessibility and effectiveness of screenings. The continued development and integration of such advanced technologies in North America are expected to support the market's expansion throughout the forecast period.

With an increasing demand for better diagnostic tools and rising investments in healthcare infrastructure, North America is set to remain a dominant force in the global breast imaging market.

Asia-Pacific: Fastest Growing Market

The Asia-Pacific region is expected to experience the fastest growth in the breast imaging market from 2023 to 2030. The growth in this region is primarily driven by the increasing prevalence of breast cancer, rising investments in breast cancer research and therapies, and advancements in breast imaging modalities.

Breast cancer is the most common cancer in many Asian countries, regardless of race or ethnicity. According to GLOBOCAN 2018, the age-standardized incidence rate of breast cancer in Asia stands at 34.4 per 100,000 people, which is an indication of the high number of new cases in the region. With the increasing prevalence of the disease, the demand for early detection methods and reliable breast imaging technologies is expected to rise.

The expansion of healthcare infrastructure across developing countries such as China, India, and Japan is further fueling this growth. These countries are investing heavily in improving healthcare access, particularly in rural and underserved areas, which is driving the adoption of modern diagnostic technologies, including breast imaging systems.

Moreover, key global players in the breast imaging market are making significant efforts to expand into emerging markets within the Asia-Pacific region. By entering countries like China and India, companies are positioning themselves to benefit from the region's growing demand for healthcare solutions. This trend is expected to continue over the forecast period, contributing to the market's rapid growth in the region.

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Key Companies & Market Share Insights

The breast imaging market is highly competitive, with several major players vying for market dominance. While a few large companies currently hold significant market shares, the competition is intensifying due to the rapid technological advancements and product innovations taking place. These developments are enabling mid-size and smaller companies to expand their market presence by introducing new products and minimizing the side effects associated with breast imaging procedures.

As technological innovation accelerates, new imaging technologies, such as 3D mammography, automated breast ultrasound, and molecular breast imaging, are becoming increasingly popular. These advances improve the accuracy of diagnoses, reduce patient discomfort, and offer better detection capabilities, which are likely to foster further market growth. Additionally, the reduction in procedure costs due to technological improvements is making breast imaging more accessible, further fueling the market expansion.

Some of the prominent players in the breast imaging market are:

• 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. 

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