Breast Imaging Industry

The global breast imaging market size 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. Factors such as the rising prevalence of breast cancer, technological breakthroughs in the domain of breast imaging, and investment from several organizations in breast cancer screening programs drive the market. According to the World Cancer Research Fund (WCRF) by 2030, the number of cases of breast cancer is likely to reach about 2.1 million globally. Also, as per the World Health Organization report on breast cancer released in March 2021, over 2.3 million women globally were diagnosed with the disease in 2020, with approximately 685,000 dying as a result of its severity. Breast imaging is the primary method of diagnosis for a vast majority of breast cancer patients globally. This aspect is expected to contribute to the growth of the market during the forecast period.

In recent years, the rising frequency of breast cancer and its associated mortality at a young age, as well as its delayed presentation, has prompted women to seek medical attention as immediately. Many breast cancer cases in developing countries are discovered at a late stage due to a lack of information about early warning symptoms and screening methods.

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

Breast Imaging Market Segments:

Technology Insights

The Ionizing technology segment held the largest market share of around 63.2% in 2022 and is anticipated to witness the fastest growth over the forecast period. The segment will expand in the upcoming years as a result of the introduction of new ionizing technology-based breast imaging technologies. Additionally, advancements in currently available ionization-based technologies are likely to receive significant funding, contributing to the market's expansion over the forecast period. Moreover, the majority of market participants' ongoing commitment to raising the number of technology expenditures made in order to offer superior products in the market.

End-use Insights

Hospitals dominated the end-use segment in 2022 with a share of around 42.2% in terms of revenue. The presence of advanced and well-equipped breast imaging facilities within a hospital positively affects various factors, such as duration of hospital stay, total healthcare cost, quality of care, and availability of emergency care. For instance, in September 2019, Parkside Hospital in Wimbledon installed a 3Dmammography system from Hologic that enables high-resolution breast tomosynthesis. As investments in healthcare structures have increased over the world, this trend will aid in market expansion in the next years. Investing has enabled the procurement of improved infrastructure and diagnostic equipment. It has also been effective in providing good health coverage in all hospital-based healthcare services. These are the key factors that will contribute to hospital segment growth in the next years.

Regional Insights

North America dominated the breast imaging market in 2022 with a share of around 37.8% in terms of revenue and is expected to exhibit a considerable growth rate during the forecast period. The rising number of breast cancer cases in this region is adding to the growth of the Breast Imaging market. As per the American Society of Clinical Oncology in its 2022 article on Breast Cancer Statistics, a projected 287,850 women in the U.S. will be diagnosed with invasive breast cancer, and 51,400 women will be diagnosed with non-invasive (in situ) breast cancer in 2022. The large prevalence of breast cancer in the U.S. is thus likely to drive the growth of the breast imaging market in the region.

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• The global breast cancer diagnostics market size was valued at USD 4.3 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 7.4% from 2023 to 2030.
• The global mammography market size was valued at USD 2.35 billion in 2023 and is projected to grow at a CAGR of 8.87% from 2024 to 2030.

Key Companies & Market Share Insights

The breast imaging market is competitive and consists of several major players. In terms of market share, few major players currently dominate the market. However, with technological advancements and product modernizations, mid-size to smaller firms are increasing their market presence by launching new products and reducing the side effects of the procedures. The players in the market are striving to maintain their potential market share. Growing competition by means of technological improvements and new product developments leading to a reduction in the cost of the product is projected to boost the market.

Recent Developments

• In May 2022, QUSTom (Quantitative Ultrasound Stochastic Tomography), a new European project, was coordinated by the Barcelona Supercomputing Center (BSC). QUSTom aims to develop a new medical imaging modality based on ultrasound and supercomputing that will supplement or even replace current X-ray-based techniques such as mammograms.
• In March 2022, researchers at the University of Notre Dame designed a novel imaging device, NearWave Imager, for non-invasive breast cancer detection.
• In June 2022, GE Healthcare join forces with the National Cancer Centre Singapore (NCCS). This partnership seeks to stimulate the possibility of more personalized treatment options for cancer and provide the opportunity to examine clinically vital information during the patient journey by leveraging artificial intelligence and text processing.
• In November 2020, Densitas, Inc. partnered with Mammography Educators, LLC. The development seeks to build an artificial intelligence-powered telehealth technician training platform that will aid mammography clinics to maintain business continuity.

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. 

Segments Covered in the Report

Grand View Research has segmented the global breast imaging market based on technology, end-use, and region:

Breast Imaging Technology Outlook (Revenue, USD Million; 2018 - 2030)

• Ionizing
  • Full-field Digital Mammography
  • Analog Mammography
  • Positron Emission Mammography
  • Electric Impedance Tomography
  • Cone-Beam Computed Tomography
  • Positron Emission Tomography & Computed Tomography
  • 3D Breast Tomosynthesis
  • MBI/BSGI
• Non-ionizing
  • MRI
  • Thermography
  • Ultrasound
  • Optical Imaging
  • Automated Whole-breast Ultrasound

Breast Imaging End-use Outlook (Revenue, USD Million; 2018 - 2030)

• Hospitals
• Breast Care Centers
• Diagnostic Imaging Centers

Breast Imaging Regional Outlook (Revenue, USD Million; 2018 - 2030)

• North America
  • US
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Denmark
  • Sweden
  • Norway
• Asia Pacific
  • Japan
  • India
  • China
  • Australia
  • Thailand
  • South Korea
• Latin America
  • Mexico
  • Brazil
  • Argentina
• MEA
  • South Africa
  • Saudi Arabia
  • Kuwait
  • UAE

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