Breast Imaging Market: Overview
The global prevalence of breast cancer – identified to be the most common form of cancer among women – has been on the rise, especially among women over the age of 40. While the morbidity rate of this cancer has been rapidly increasing in developed countries, the mortality rate is much higher in developing nations owing to lack of awareness and limited availability of advanced healthcare facilities. This growing incidence of breast cancer has been single-handedly driving the market for breast imaging world over.
The report offers a detailed assessment of the various breast imaging technologies and the trajectory of the market during the forecast period. Categorizing the market on the basis of technology into breast MRI, mammography, nuclear imaging, breast ultrasound, tomosynthesis, and others, the report provides in-depth analysis of the various segments and market size estimations through 2019. The key dynamics and trends have been demonstrated and the factors that influence the present as well as future status of the breast imaging market have been discussed.
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Breast Imaging Market: Trends and Opportunities
Registering a double-digit CAGR during the forecast period, the breast imaging market is poised to be valued at just over US$4.0 mn by 2019. This can be attributed to the rising use of breast imaging products for diagnosis and monitoring by healthcare professionals, mainly oncology technicians and radiologists. Growing awareness about the benefits of early detection has increasingly supported the demand for breast imaging systems and devices and this can be attributed to supportive government initiatives and programs. The breast imaging market has, as a result, been witnessing considerable growth.
While stringent regulatory norms ensuring the safety of medical equipment and diagnostic tools have been limiting the steady supply of breast imaging systems, technical development and innovative imaging devices are some of the major opportunities market players can capitalize on.
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Breast Imaging Market: Regional Outlook
North America has been presenting a strong demand trend for breast imaging over the past decade, with Europe following suit. This can be attributed to greater acceptance ratio for newer technologies and devices, the presence of advanced and sophisticated healthcare infrastructure, higher availability of treatments and technologies, and high awareness rate regarding breast cancer. The Centers for Disease Control and Prevention found that in 2010 alone, nearly 207,000 women and over 2,000 men were diagnosed with breast cancer in the U.S. The World Cancer Research Fund International pegged North America to have the highest number of new breast cancer cases the same year. This increased prevalence of breast cancer drives the North America breast imaging market.
Asia Pacific has been identified as an immensely lucrative region in terms of breast imaging and is primarily driven by growing medical tourism in countries such as China and India. The RoW segment, which comprises the regions of Latin America, the Middle East, and Africa, is anticipated to witness limited growth despite rising government initiatives. This is owing to the fact that awareness levels in these regions is rather low.
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