𝐁𝐫𝐞𝐚𝐬𝐭 𝐈𝐦𝐚𝐠𝐢𝐧𝐠: “New Imaging Technology Helps Detect Breast Cancer Early”

The Breast Imaging Market is expected to grow at a CAGR of 9% from 2020 to 2027 to reach $7.08 billion by 2027. Breast imaging is a subspecialty of diagnostic radiology, which utilizes ionizing or non-ionizing radiation to detect tumor lesion in the breast. This technique enables the clinicians to conduct early diagnosis before the actual symptoms appear. The growth in this market is majorly driven by the rising prevalence and incidence of breast cancer, growing awareness for early detection of breast cancer and other related diseases, technological innovations and launch of advanced breast imaging equipment & software, increasing investment and funding in R&D for breast cancer treatment, and rising aging population of women. Further, the extensive research in the development of hybrid imaging systems offers significant growth opportunities for the players operating in the global breast imaging market.

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Impact of COVID-19 on the Breast Imaging Market

Due to recent outbreak of Novel Corona Virus (COVID-19), hospitals have limited resources and staff, which is the major reason for delay in some surgeries and other medical procedures. In severely affected regions, the influx of COVID-19 patients requiring continuous monitoring and ventilation is increasing rapidly, leading to overloading of hospital systems disrupting the routine treatment of cancer patients, whose conditions likely to be worsened if usual standard care is delayed. Moreover, in major markets, such as North America and Europe, continuous rise in COVID-19 cases has completely prohibited the movement of people, which led to delays in routine breast examinations related to cancer diagnosis and hence can impact the market to a certain extent. Further, reduced visits due to patient concerns related to COVID-19 and sequestering of oncology medical staff have resulted into replacement of outpatient visits with telephone consultation.

Furthermore, high rates of sickness among health workers due to COVID-19 are dramatically reducing the availability of medical staff. According to the World Health Organization (WHO), as of April 2020, the COVID-19 pandemic has hit over 22,000 healthcare workers across 52 countries, and in the U.S., the number of health care workers who tested positive for the coronavirus is likely to be far higher than the reported tally of 9,200. This increase is reducing the medical staff availability for cancer treatment which is negatively impacting the breast imaging market.

In addition, the purchasing of new equipment and its installations is completely hampered these days, which is also going to affect the market for the year 2020. Also, most of the parts and materials used in making of medical equipment are from China, and complete shutdown of trade from such countries has reduced the manufacturing of medical equipment including breast imaging systems, thereby hampering the growth of this market.

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Rising prevalence and incidence of breast cancer is propelling the growth of the breast imaging Market

In recent years, widespread use of hormone replacement therapy (HRT) following menopause, various reproductive disorders, and hormonal imbalances have significantly increased the risks of breast cancer. According to the Global Cancer Observatory (GLOBOCAN), the number of new breast cancer cases was reported to be 1,651,326 in 2012, which increased by 26.5%, reaching 2,088,849 in 2018. Further, these numbers are expected to increase to 2,407,748 and 2,853,857 new cases by 2025 and 2035 respectively. Similarly, deaths due to breast cancer are also expected to increase by more than 44% from 626,679 in 2018 to 904,805 by 2035. Owing to the increasing prevalence of breast cancer and associated mortalities, breast cancer detection and diagnosis is garnering significant attraction, globally.

Growing awareness for early detection of breast diseases supports the market growth

In recent years, the increasing prevalence of breast cancer and related mortality at young age and delayed presentation has alerted women to timely seek medical advice. In developing nations, many of the breast cancer cases are diagnosed at late stage due to lack of awareness about early warning signs and screening methods. Therefore, various organizations across the globe are carrying out the awareness programs and campaigns for the early detection of breast cancer. For instance:

• In the U.S., National Breast Cancer Foundation, Inc. (a non-profit organization) organize National Mammography Program every year, which provides free mammograms and diagnostic services for early diagnosis and treatment of breast cancer.
• In August 2019, Canadian Cancer Society announced its collaboration with Stand Up to Cancer Canada (SU2C Canada) and the Canadian Institutes of Health Research (CIHR) to launch the SU2C Canada Metastatic Breast Cancer Dream Team. This team received funding of $6 million to conduct nation-wide clinical trials and awareness programs to prevent and treat metastatic breast cancer.
• In July 2019, the government of France announced the adoption of “Ma santé 2022” plan, which aims to reform healthcare system in the country. Under this plan, the government targeted to increase the number of medical professionals and to gear up the union of hospitals and local health care centers to provide quality care.

Such screening programs and initiatives are expected to increase the awareness related to diagnosis and treatment of breast cancer and would ultimately support the breast imaging market growth.

Extensive research in the development of hybrid imaging systems offer high growth opportunities and supports the market growth

Advances in imaging technologies in recent years have revolutionized the aspect of treatment and approach towards it. The combination of imaging technologies such as CT scans, MRIs, PET, and others have become increasingly important to visualize the metabolic information and anatomic details of the organs. Also, these integrated imaging modalities have improved the quality of breast images, patient comfort, and reduced the patient dose. Due to these benefits, manufacturers across the globe are focusing more on new product launches to increase the sensitivity and accuracy in breast cancer diagnostics.

Key Findings in the Global Breast Imaging Market Study:

Ionizing technology generated large proportion of revenue compared to other non-ionizing technologies

The ionizing technology segment is estimated to command the largest share of the overall breast imaging market in 2020. Incessant launches of breast imaging systems with ionizing technology, ongoing technological advancements in ionizing technology, and growing focus and investments of key players in development and improvement of this technology are the major factors increasing the adoption and demand for ionizing technology.

3D breast tomosynthesis to register the fastest growth in the breast imaging market for ionizing technology by 2027

The 3D breast tomosynthesis segment is slated to grow with the fastest CAGR during the forecast period. This growth is mainly due to the sharp image outcomes and decreased recall rates with this technology. Also, 3D breast tomosynthesis overcomes the limitation of standard mammography by aiding in detection of all lesion types.

Breast ultrasound to dominate the global breast imaging market for non-ionizing technology in 2020

Breast ultrasound is estimated to command the largest share of the overall breast imaging market for non-ionizing technology in 2020. Low risk of radiation exposure, higher sensitivity, and low-cost diagnosis are the key factors driving the growth of the breast ultrasound market.

On the basis of end user, hospitals to dominate the overall break imaging market in 2020

Hospitals are estimated to command the largest share of the overall breast imaging market in 2020. Increasing investments on healthcare infrastructure development, higher purchasing power, availability of well-equipped operating & diagnostic rooms, and better health coverage for hospital-based healthcare services are the key factors supporting the dominance of hospitals.

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Asia-Pacific: The fastest growing regional market

North America is estimated to command the largest share of the global breast imaging market in 2020, followed by Europe, Asia-Pacific, Latin America, and the Middle East & Africa. However, Asia-Pacific region will be the fastest growing regional market due to the accelerated economic growth of many countries in this region; increasing prevalence of breast cancer; and growing government focus towards improvement of healthcare sector. In addition, frequent breast screening programs to spread awareness related to importance of early diagnosis in the region is the other key factor propelling the growth of the Asia-Pacific breast imaging market.

Key Players

The report includes competitive landscape based on extensive assessment of the key strategic developments adopted by leading market participants in the industry over the past 4 years (2016–2020). The key players profiled in the global breast imaging market report are Hologic, Inc. (U.S.), GE Healthcare (U.S.), Canon Inc. (Japan), Siemens AG (Germany), Koninklijke Philips N.V. (Netherlands), Carestream Health, Inc (U.S.), Planmed Oy (Finland), Hitachi, Ltd. (Japan), Dilon Technologies Inc. (U.S.), CMR Naviscan Corporation (U.S.), FUJIFILM Holdings Corporation (Japan), Aurora Healthcare US Corp (U.S.), and SonoCine Inc. (U.S.).

Scope of the Report:

Breast Imaging Market by Technology

• Ionizing Technology
• Full-Field Digital Mammography (FFDM)
• 3D Breast Tomosynthesis
• Positron Emission Tomography/Computed Tomography (PET/CT)
• Molecular Breast-Specific Gamma Imaging (MBI/BSGI)
• Computed Tomography (CT)
• Positron Emission Mammography (PEM)
• Analog Mammography
• Cone Beam Computed Tomography (CBCT)
• Non-Ionizing Technology
• Breast Ultrasound
• Breast MRI
• Automated Whole-Breast Ultrasound
• Breast Thermography
• Optical Imaging

Breast Imaging Market by End User

• Hospitals
• Diagnostic Imaging Centers
• Ambulatory Surgical Centers

Breast Imaging Market by Geography

• North America
• U.S.
• Canada
• Europe
• Germany
• U.K.
• France
• Italy
• Spain
• Rest of Europe (RoE)
• Asia-Pacific (APAC)
• Japan
• China
• India
• Australia
• Rest of APAC (RoAPAC)
• Latin America
• Middle East & Africa

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Key questions answered in the report-

• Which are the high growth market segments in terms of technology, end user, and regions/countries?
• What was the historical market for breast imaging across the globe?
• What are the market forecasts and estimates for the period 2020–2027?
• What are the major drivers, restraints, and opportunities in the global breast imaging market?
• Who are the major players in the global breast imaging market?
• How is the competitive landscape and who are the market leaders in the global breast imaging market?
• What are the recent developments in the global breast imaging market?
• What are the different strategies adopted by the major players in the global breast imaging market?
• What are the geographical trends and high growth regions/ countries?

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