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What Major Innovations Are Driving the Accelerated Growth of the Breast Imaging Devices Market?
The escalating incidence of breast cancer is predicted to fuel the growth of the breast imaging device market. The increasing number of hormonal replacement therapies (HRT), hormonal imbalances, menopause, and several reproductive disorders have significantly escalated the likelihood of breast cancer. As per the World Health Organization (WHO), breast cancer is the most prevalent cancer among women, affecting 2.1 million women every year. It is the leading cause of cancer-induced deaths among women. For instance, in February 2023, the American Society of Clinical Oncology (ASCO), a professional organization based in the US that publishes cancer-related information for patients on cancer.net, stated that one in three new female cancers diagnosed annually in the US are breast cancers. Moreover, it is estimated that in 2023, about 297,790 women in the country will be diagnosed with invasive breast cancer, and 55,720 with non-invasive (in situ) breast cancer.
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How Has the Breast Imaging Devices Market Evolved in Recent Years, and What are the Growth Projections for the Forecast Period?
In the recent past, the size of the market for breast imaging devices has seen solid growth. The market, which stood at $4.88 billion in size in 2024, is expected to expand to $5.14 billion in 2025, reflecting a compound annual growth rate (CAGR) of 5.3%. The growth witnessed in the historical period can be attributed to factors such as an increase in healthcare facilities and economic expansion in emerging markets, along with swift advancements in technology, an increase in breast cancer cases, and a growing population of aging women.
The market for breast imaging devices is predicted to experience significant expansion in the coming years, reaching a value of $6.86 billion in 2029 with a compound annual growth rate (CAGR) of 7.5%. This anticipated growth during the projection period can be related to increased awareness for early diagnosis of breast-related diseases, a surge in the utilization of diagnostic medical imaging, and a rise in investments and funding for breast cancer therapies. Key trends to watch out for during this period include increased investment in expanding product portfolios, strategic partnerships, and the growth of portable devices, with particular focus on photoacoustic breast imaging, the application of augmented reality (AR) in breast imaging, and the adoption of hybrid imaging technology.
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What Are the Most Significant Market Trends Transforming theBreast Imaging Devices Market?
Leading organizations in the breast imaging devices market are prioritizing the development of high-tech solutions like advanced imaging techniques. These efforts aim to boost early detection and elevate diagnostic precision for breast cancer. Technologies such as digital mammography, 3D tomosynthesis and magnetic resonance imaging (MRI) are used to provide more detailed and accurate visualization of internal body structures. For example, in October 2024, StoneSprings Hospital Centre, a healthcare facility located in the US, introduced a new breast imaging technology. This newly launched system employs top-notch imaging modalities like digital mammography and 3D tomosynthesis, giving a clearer and more detailed picture of breast tissue. Thanks to this innovation, radiologists can pick up abnormalities that traditional 2D mammography might overlook. The system has been designed to incorporate artificial intelligence (AI) algorithms which aid radiologists in interpreting the images more accurately. The AI support can point out potential problem areas, thereby decreasing the probability of overlooking diagnoses and enhancing overall accuracy.
What Are the Top Market Players Propelling the Growth of theBreast Imaging Devices Industry?
Major companies operating in the breast imaging devices market include Siemens Healthineers AG, Hologic, Inc., GE Healthcare, FUJIFILM Holdings Corporation, Canon, Philips Healthcare, Aurora Imaging Technology Inc., Delphinus Medical Technologies, Micrima Limited, SonoCine Inc., Hitachi, Ltd., QT Ultrasound LLC, Trivitron Healthcare, Telerad Tech, Henan Forever Medical Co., Ltd., Guangzhou Medsinglong Medical Equipment Co., Ltd., Medsinglong Co Ltd, Toshiba Corporation, Wuhan Darppon Medical Technology Co., Ltd., Planmed Oy, Barco NV, Esaote SpA
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Which Primary Segments of the Breast Imaging Devices Market Are Driving Growth and Industry Transformations?
The breast imaging devices market covered in this report is segmented –
1) By Product Type: Tomosynthesis, Breast Ultrasound, Breast Magnetic Resonance Imaging (MRI), Mammography, Nuclear Imaging, Other Product Types
2) By Technology: Ionizing, Non Ionizing
3) By End User: Hospitals And Clinics, Breast Care Centers, Diagnostic Imaging Centers
Subsegments:
1) By Tomosynthesis: Digital Breast Tomosynthesis (DBT), 3D Mammography Systems
2) By Breast Ultrasound: Handheld Ultrasound, Automated Breast Ultrasound System (ABUS), Elastography
3) By Breast Magnetic Resonance Imaging (MRI): Contrast-Enhanced MRI, Functional MRI
4) By Mammography: Digital Mammography, Film Mammography, 2D Mammography
5) By Nuclear Imaging: Positron Emission Tomography (PET), Single Photon Emission Computed Tomography (SPECT)
6) By Other Product Types: Infrared Imaging, Molecular Imaging Systems, Stereotactic Breast Biopsy Devices
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Which Regions Are Key Players in the Growth of the #What Major Innovations Are Driving the Accelerated Growth of the Breast Imaging Devices Market?# Market?
North America was the largest region in the breast imaging devices market in 2024. Asia-Pacific was the second largest market in the global breast imaging devices market report. The regions covered in the breast imaging devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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