The global breast imaging market is projected to reach USD 4.6 billion by 2023 from USD 3.1 billion in 2018, at a CAGR of 8.0%

NEW YORK, Jan. 30, 2019 /PRNewswire/ -- The breast imaging market is projected to grow at a CAGR of 8.0% during the forecast period

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The global breast imaging market is projected to reach USD 4.6 billion by 2023 from USD 3.1 billion in 2018, at a CAGR of 8.0%. Growth in this market is largely driven by factors such as the rising prevalence of breast cancer, growth in the geriatric population (as age contributes to the risk of breast cancer) and changing lifestyles, which have increased the overall possibility of cancer occurrence. However, errors in screening and misdiagnosis, the side-effects of radiation exposure, and the growing adoption of refurbished imaging systems are the major factors that are expected to restrain the growth of this market during the forecast period.

The ionizing breast imaging segment is expected to account for the largest market share during the forecast period
Based on technology, the breast imaging market is segmented into ionizing (mammography, PET-CT, MBI, and PEM), non-ionizing (breast ultrasound, breast MRI, AWBU, and breast thermography), and other breast imaging technologies (CBCT, electrical impedance tomography, and optical imaging). The ionizing breast imaging segment accounted for the largest share of this market in 2018, driven by the technological advancements in ionizing breast imaging technologies and rising awareness about the early screening and diagnosis of breast cancer.

The molecular breast imaging (MBI) segment to witness second-highest growth in the ionizing breast imaging market during the forecast period
Based on type, the ionizing breast imaging technology market is segmented into mammography, PET-CT, MBI, and PEM.The MBI segment is expected to witness the second-highest growth rate in the market during the forecast period.

The MBI technique is simple, fast, and highly sensitive and can be used for patients who are claustrophobic or allergic to gadolinium, which are the key factors driving its adoption in the breast imaging market.

Europe to account for the second-largest share of the global market in 2018
The breast imaging market is segmented into four major regions, namely, North America, Europe, the Asia Pacific, and the Rest of the World.Europe accounted for the second-largest share of the global breast imaging market in 2018.

The increasing number of regulatory approvals for advanced breast imaging modalities, growing number of distribution collaborations and partnerships among market players, and the implementation of various awareness programs by several European organizations are the major factors propelling the demand for breast imaging in Europe.

Breakdown of supply-side primary interviews:
• By Company Type: Tier 1 - 25%, Tier 2 - 30%, and Tier 3 - 45%
• By Designation: C - level 26%, Director - level 30%, and Others - 44%
• By Region: North America - 34%, Europe - 26%, APAC - 23%, and RoW - 17%

The major players in the market include Hologic, Inc. (US), GE Healthcare (US), Siemens Healthineers (Germany), Philips Healthcare (Netherlands), Fujifilm Holdings Corporation (Japan), Aurora Imaging Technology, Inc. (US), Canon Inc. (Japan), CMR Naviscan Corporation (US), Delphinus Medical Technologies, Inc. (US), Dilon Technologies, Inc. (US), KUB Technologies Inc. (Kubtec) (US), Micrima Limited (UK), Planmed Oy (Finland), SonoCiné, Inc. (US), and SuperSonic Imagine (France), among others.

Research Coverage
This report studies the breast imaging market based on technology and region.The report also studies factors (such as drivers, restraints, opportunities, and challenges) affecting market growth.

It analyzes the opportunities and challenges in the market and provides details of the competitive landscape for market leaders. Furthermore, the report analyzes micromarkets with respect to their individual growth trends and forecasts the revenue of the market segments with respect to four main regions (and the respective countries in these regions).

Key Benefits of Buying the Report
This report focuses on various levels of analysis—industry trends, market shares of top players, and company profiles, which together form basic views and analyze the competitive landscape, emerging segments of the breast imaging market, and high-growth regions and their drivers, restraints, challenges, and opportunities. The report will help both established firms as well as new entrants/smaller firms to gauge the pulse of the market and garner greater market shares.

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