Global Breast Imaging Market Size (2024 - 2029)

The breast imaging market is projected to experience significant growth over the forecast period, driven by an increasing prevalence of breast cancer, technological advancements, and enhanced screening programs. Despite the initial impact of the COVID-19 pandemic, which reduced demand due to decreased hospital visits, the market is expected to expand as awareness and participation in screening initiatives rise. The introduction of advanced mammography technologies and strategic partnerships among companies are further contributing to the market's expansion. However, challenges such as the high cost of imaging systems and potential radiation exposure risks may impede growth.

Market Size of Global Breast Imaging Industry

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Global Breast Imaging Market Summary
Study Period 2019 - 2029
Market Size (2024) USD 5.79 Billion
Market Size (2029) USD 8.24 Billion
CAGR (2024 - 2029) 7.35 %
Fastest Growing Market Asia-Pacific
Largest Market North America

Major Players

Global Breast Imaging Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Breast Imaging Market Analysis

The Global Breast Imaging Market size is estimated at USD 5.79 billion in 2024, and is expected to reach USD 8.24 billion by 2029, growing at a CAGR of 7.35% during the forecast period (2024-2029).

The ongoing outbreak of COVID-19 showed an impact on the breast imaging market because hospital and healthcare services were significantly reduced due to social distancing measures taken by governments across the globe. Moreover, the COVID-19 pandemic not only affected the global economy but also greatly impacted the functioning of general hospital care for non-COVID-19 patients in hospitals across the globe. According to an article titled "Changes in the Number of US Patients With Newly Identified Cancer Before and During the Coronavirus Disease 2019 (COVID-19) Pandemic," appearing in the JAMA Network in August 2020, there has been a significant decline in breast cancer diagnoses (by as much as 51.8 percent) in the United States from March 1, 2020, to April 18, 2020. This is expected to have hurt breast imaging manufacturers as their demand has reduced significantly.

The breast imaging market is driven by the factors such as the growing prevalence of breast cancer, technological advancements in the field of breast imaging, and investment from various organizations in breast cancer screening campaigns. According to the World Health Organization article on Breast cancer published in March 2021, around 2.3 million women worldwide were diagnosed with breast cancer, and around 685,000 died from the severity of the disease in 2020. A large number of breast cancer cases worldwide, for which the primary means of diagnosis is breast imaging. This factor is likely to add to the growth of the breast imaging market in the forecast period.

The rising awareness and various breast screening programs have contributed to the rapid market growth. These screening programs have been shown to save lives compared to unscreened populations. For example, the Dutch breast cancer screening program for women between 50 and 75 years of age coordinated by the National Institute for Public Health and the Environment (RIVM) in April 2022 revealed that in the year 2020, the participation rate was 70.4%, since there was a hesitation due to fear of infection with SARS-CoV-2 virus.

Similarly, as per the government's national screening program in Australia, Breast Screen Australia, women aged 50-74 need to undergo free mammograms every two years. Cancer Australia, in September 2020, released a set of regulations titled "Guidance for the management of early breast cancer - Recommendations and practice points," where breast imaging for early diagnosis in the initial stages of breast cancer was discussed. Such initiatives are adding to the growth of the breast imaging market.

The growth is fueled by the launch and growing adoption of advanced mammography devices with innovative technologies. For Instance, in January 2021, Seno Medical Instruments received premarket approval from The Center for Devices and Radiological Health in the United States for its diagnostic breast cancer imaging technology. The new technology specialized in differentiating malignant and benign breast lesions. Many companies are also engaging in collaborations and partnerships to increase their market share. Hence owing to the aforementioned factors, the market is anticipated to propel at high growth rates. However, the high cost of imaging systems and the adverse effects of radiation exposure are expected to hinder the growth of the studied market in the forecast period.

Breast Imaging Industry Segmentation

As per the scope, Breast imaging is a subspecialty of diagnostic radiology. It involves various imaging procedures with various tools and technologies to screen, detect, and diagnose breast cancer. If cancer is detected, these tests help our doctors find the type of cancer, as well as determine the stage and location of the cancer. The breast cancer imaging market is segmented by type of imaging technique (mammography, breast ultrasound, breast MRI, image-guided breast biopsy, other imaging techniques), end users (hospitals, diagnostic centers, others), and geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The report also covers the estimated market sizes and trends for 17 countries across major regions globally. The report offers the value (in USD million) for the above segments.

By Type of Imaging Technique
Mammography
Breast Ultrasound
Breast MRI
Image-guided Breast Biopsy
Other Imaging Techniques
By End Users
Hospitals
Diagnostic Centers
Others
Geography
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Middle East and Africa
GCC
South Africa
Rest of Middle East and Africa
South America
Brazil
Argentina
Rest of South America
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Global Breast Imaging Market Size Summary

The breast imaging market is poised for significant growth over the forecast period, driven by the increasing prevalence of breast cancer and advancements in imaging technologies. The market's expansion is supported by heightened awareness and participation in breast cancer screening programs, which have proven effective in early detection and improving survival rates. Despite the challenges posed by the COVID-19 pandemic, which temporarily disrupted healthcare services and led to a decline in breast cancer diagnoses, the market is recovering and expected to grow steadily. The introduction of innovative mammography devices and the integration of artificial intelligence in screening processes are key factors contributing to the market's upward trajectory. These technological advancements are enhancing the accuracy and efficiency of breast cancer diagnostics, thereby boosting the demand for breast imaging solutions.

In North America, the breast imaging market is experiencing robust growth due to the high incidence of breast cancer and the region's strong focus on advanced diagnostic techniques. The availability of innovative tools and systems, coupled with supportive guidelines from health authorities, is driving the adoption of breast imaging technologies. Key players in the market, including Fujifilm Holdings Corporation, GE Healthcare, and Hologic Inc., are actively engaged in research and development to introduce new products and improve existing ones. The competitive landscape is characterized by both major players and emerging companies, all striving to enhance their market presence through technological innovations and strategic partnerships. As the demand for effective breast cancer screening and diagnosis continues to rise, the breast imaging market is expected to witness sustained growth, with significant contributions from both established and emerging market participants.

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Global Breast Imaging Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

      1. 1.2.1 Growing Prevalence of Breast Cancer

      2. 1.2.2 Technological Advancements in the Field of Breast Imaging

      3. 1.2.3 Investments and Initiatives from Various Organizations in Breast Cancer Screening Campaigns

    3. 1.3 Market Restraints

      1. 1.3.1 Risk of Adverse Effects from Radiation Exposure

      2. 1.3.2 High Cost of Imaging Systems

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Threat of New Entrants

      2. 1.4.2 Bargaining Power of Buyers/Consumers

      3. 1.4.3 Bargaining Power of Suppliers

      4. 1.4.4 Threat of Substitute Products

      5. 1.4.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Type of Imaging Technique

      1. 2.1.1 Mammography

      2. 2.1.2 Breast Ultrasound

      3. 2.1.3 Breast MRI

      4. 2.1.4 Image-guided Breast Biopsy

      5. 2.1.5 Other Imaging Techniques

    2. 2.2 By End Users

      1. 2.2.1 Hospitals

      2. 2.2.2 Diagnostic Centers

      3. 2.2.3 Others

    3. 2.3 Geography

      1. 2.3.1 North America

        1. 2.3.1.1 United States

        2. 2.3.1.2 Canada

        3. 2.3.1.3 Mexico

      2. 2.3.2 Europe

        1. 2.3.2.1 Germany

        2. 2.3.2.2 United Kingdom

        3. 2.3.2.3 France

        4. 2.3.2.4 Italy

        5. 2.3.2.5 Spain

        6. 2.3.2.6 Rest of Europe

      3. 2.3.3 Asia-Pacific

        1. 2.3.3.1 China

        2. 2.3.3.2 Japan

        3. 2.3.3.3 India

        4. 2.3.3.4 Australia

        5. 2.3.3.5 South Korea

        6. 2.3.3.6 Rest of Asia-Pacific

      4. 2.3.4 Middle East and Africa

        1. 2.3.4.1 GCC

        2. 2.3.4.2 South Africa

        3. 2.3.4.3 Rest of Middle East and Africa

      5. 2.3.5 South America

        1. 2.3.5.1 Brazil

        2. 2.3.5.2 Argentina

        3. 2.3.5.3 Rest of South America

Global Breast Imaging Market Size FAQs

The Global Breast Imaging Market size is expected to reach USD 5.79 billion in 2024 and grow at a CAGR of 7.35% to reach USD 8.24 billion by 2029.

In 2024, the Global Breast Imaging Market size is expected to reach USD 5.79 billion.

Breast Imaging Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)