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What Is the Growth Rate of the Breast Imaging Technologies Market?
There has been a substantial expansion in the size of the breast imaging technologies market in the past few years. The market, which stands at $4.82 billion in 2024, is projected to increase to $5.22 billion in 2025, reflecting a compound annual growth rate (CAGR) of 8.5%. The historical period’s expansion has been influenced by factors such as heightened awareness and screening programs, a growing occurrence of breast cancer, and governmental campaigns focussed on breast cancer consciousness.
What Growth Rate Is Forecasted for the Breast Imaging Technologies Market by 2029?
Over the coming years, the breast imaging technologies market is projected to experience significant growth, reaching a value of “$7.19 billion by 2029, driven by a compound annual growth rate (CAGR) of 8.3%. This expansion during the forecast period can be linked to factors such as the increased adoption of 3D mammography (tomosynthesis), heightened demand for minimally invasive procedures, and a greater focus on women’s health and precision medicine. Other contributing factors include expanding research applications and clinical trials as well as patient-focused strategies. The forecast period will also see key trends such as technological advancements in imaging, progress in AI integration, increased application of molecular breast imaging, the incorporation of contrast-enhanced imaging, and multi-modal imaging methods.
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Which Key Companies Are Shaping the Future of the Breast Imaging Technologies Market?
Major companies operating in the breast imaging technologies market include Fujifilm Holdings Corporation, GE Healthcare Technologies Inc., Hologic Inc., Koninklijke Philips N.V., Siemens Healthineers AG, Aurora Healthcare US Corp., Canon Inc., Koning Corporation, Toshiba Corporation, Sonocine Inc., Agfa-Gevaert N.V., Allengers Medical Systems Ltd., Aspect Imaging Ltd., Bruker Corporation, Carestream Health, CMR Naviscan Corporation, Delphinus Medical Technologies Inc., Esaote SpA, General Medical Merate SpA, Dilon Technologies Inc., Smart Breast Corporation, Gamma Medica Inc., Micrima Limited, Tualatin Imaging P.C., Leica Biosystems Nussloch GmbH, Planmed Oy, Metaltronica S.p.A, SuperSonic Imagine, Women’s Diagnostic Center of America LLC
Which Factors Are Driving Demand in the Breast Imaging Technologies Industry?
As breast cancer becomes increasingly prevalent, it is anticipated that this development will stimulate the expansion of the breast imaging technologies market. Breast cancer typically initiates in the cells within the female breast. Mutations in breast cells, leading to uncontrollable growth, give rise to breast tumors. The primary function of breast imaging technologies is to enable early detection, diagnosis, and staging of breast cancer, at a stage where it can most effectively be treated. For example, forecasts from Susang Komen For Cure, a non-profit U.S. organization, suggest that 297,790 new instances of invasive breast cancer will emerge among U.S. women in November 2023. Consequently, the escalating incidence of breast cancer is fueling the expansion of the breast imaging technologies market.
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How Is the Breast Imaging Technologies Market Segmented by Several Divisions?
The breast imaging technologies market covered in this report is segmented –
1) By Imaging Technique: Mammography, Breast Ultrasound, Breast MRI, Image Guided Breast Biopsy, Positron Emission Tomography, Other Imaging Techniques
2) By Technology: Ionizing Breast Imaging Technology, Non Ionizing Breast Imaging Technology
3) By End User: Hospital, Diagnostic Imaging Centre, Other End Users
Subsegments:
1) By Mammography: Digital Mammography, 3D Mammography, Film Mammography
2) By Breast Ultrasound: Handheld Ultrasound, Automated Breast Ultrasound, Contrast-Enhanced Ultrasound
3) By Breast MRI: Breast MRI With Contrast, MRI-Guided Biopsy
4) By Image Guided Breast Biopsy: Stereotactic Biopsy, Ultrasound-Guided Biopsy, MRI-Guided Biopsy
5) By Positron Emission Tomography (PET): PET Or CT For Breast Imaging, PET Or MRI For Breast Imaging
6) By Other Imaging Techniques: Thermography, Optical Imaging, Molecular Breast Imaging
What are the Emerging Market Trends Driving the Growth of the Breast Imaging Technologies Industry?
Product innovations are a pivotal trend gaining traction in the breast imaging technology market. Key players in the market are focusing on novel technological advancements to strengthen their hold in the industry. One such example is Seno Medical, an American medical imaging firm, that introduced the Imagio OA/US Breast Imaging System in November 2022. This system integrates functional and anatomical breast imaging through laser optics and grayscale ultrasound. It generates opto-acoustic images that provide a unique blood mapping within and around breast lumps, and the ultrasound images present a more traditional anatomical view. Studies comparing the Imagio OA/US breast imaging system with standard diagnostic imaging methods have demonstrated its potential to be a more beneficial instrument for radiologists to either confirm or exclude cancer. Further, it includes a computer component that assists users with BI-RADS classifications, powered by artificial intelligence (AI).
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Which Regions Are Driving Growth in the Breast Imaging Technologies Market?
North America was the largest region in the breast imaging technologies market in 2024.Asia-Pacific is expected to be the fastest-growing region in the global breast imaging technologies market report during the forecast period. The regions covered in the breast imaging technologies market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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This Report Delivers Insight On:
1. How big is the breast imaging technologies market, and how is it changing globally?
2. Who are the major companies in the breast imaging technologies market, and how are they performing?
3. What are the key opportunities and risks in the breast imaging technologies market right now?
4. Which products or customer segments are growing the most in the breast imaging technologies market?
5. What factors are helping or slowing down the growth of the breast imaging technologies market?
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