Market Report

Reports Predict Breast Imaging Market Growth

STAFF REPORT

The breast imaging market is expected to increase at a 7.1% compound annual growth rate (CAGR) from an anticipated $4.3 billion in 2022 to $8.5 billion by 2032, according to a report by Future Market Insights.

Technological improvements, the rising prevalence of breast cancer, the increasing number of screening programs and the increasing number of conferences and symposiums concentrating on spreading awareness about the advantages of early screening and diagnosis are all driving breast imaging market growth along with breast imaging market adoption trends.

The rising breast imaging markets, increasing government and private investments to support the increasing demand for breast imaging and a better reimbursement picture is likely to provide breast imaging market participants with a wide variety of breast imaging market key trends and opportunity prospects.

As mammography is the standard procedure for screening breast cancer, governments and other health care organizations all over the world are taking steps to ensure that women have access to mammography screening. The global demand for breast imaging and mammography is expanding as a result.

There have been a lot of developments in the area that reduce over-diagnosis and improve sensitivity to identify tiny carcinomas. These ongoing improvements in this discipline are projected to boost the global breast imaging market’s mammography segment.

The development and increased usage of improved mammography machines with novel technology are fueling breast imaging market trends.

The Asia Pacific area is a prominent revenue generator in the breast imaging market. The rising prevalence of breast cancer, rising health care expenditure, an increase in the number of breast cancer awareness programs and high government spending on breast cancer research studies in several Asia Pacific countries are major factors driving opportunities in the Asia Pacific breast imaging market.

In the United States, the breast imaging market is estimated to reach $3.1 billion by 2032, increasing at a CAGR of 6.9% through 2032. The breast imaging market in the United Kingdom is expected to be worth $350.3 million by 2032, with a CAGR of 5.9% through 2032. China’s breast imaging market is expected to reach $613.6 million by 2032, with a CAGR of 6.4% through 2032.

The breast imaging market’s ionizing breast imaging segment from the technology category is predicted to develop at a CAGR of 7.0% through 2032.

MarketsandMarkets also predicts growth.

“The breast imaging market is projected to grow from an estimated $3.7 billion in 2020 to $5.4 billion by 2025, at a CAGR of 8.1% during the forecast period,” according to a release.

The MarketsandMarkets report also states, “Based on technology, the breast imaging market is segmented into ionizing breast imaging and non-ionizing breast imaging technologies. The non-ionizing breast imaging segment is expected to grow at the highest CAGR during the forecast period.”

“Non-ionizing breast imaging technologies comprise breast ultrasound, breast MRI, automated whole-breast ultrasound (AWBU), breast thermography, electric impedance tomography and optical imaging. The breast ultrasound segment accounted for the largest share of the non-ionizing breast imaging technologies market in 2019 whereas the AWBU segment is estimated to witness the second-highest growth rate during the forecast period. The large share of the breast ultrasound segment can be attributed to the lower risk of exposure to radiation and the benefits offered by breast ultrasound such as the ability to detect lesions and the nature of lesions in women with dense breast tissues, the ability to differentiate between a cyst and a solid mass, and the detection of blood flow through vessels,” the release states.

According to Coherent Market Insights, the global breast imaging market is estimated to be valued at approximately $5 billion in 2022 and is expected to exhibit a CAGR of 10.1% from 2022 to 2030. •