Global breast imaging technologies market to reach USD 7.43bn by 2030

The “Breast Imaging Technologies Market by Technology – Global Opportunity Analysis and Industry Forecast, 2020-2030” report has been added to ResearchAndMarkets.com’s offering.

The global breast imaging technologies market was valued at USD 3.54 billion in 2019 and is projected to surpass USD 7.43 billion by 2030, expanding at a CAGR of 6.90% during the forecast period from 2020 to 2030.

Increasing incidences of breast diseases in women, especially breast cancer is fuelling the demand for breast imaging technologies. Also, the growth of the global breast imaging technologies market can be attributed to the increasing initiatives by government & non-government organizations to raise awareness regarding the advantages of early cancer detection. Moreover, technological advancements in breast imaging modalities and development of the advanced healthcare infrastructures are contributing to the market growth.

However, high cost of imaging technologies, errors associated with screening process, stringent regulations, and lengthy approval processes are anticipated to hamper the breast imaging technologies market during the forecast period. On the other hand, increasing investments in healthcare sector, campaigns to reduce incidences of breast cancer, and growing R&D in the medical sector are creating opportunities for the breast imaging technology providers.

The breast imaging technologies market has been segmented based on product type and geography. In terms of product type, the breast imaging technologies market is bifurcated into ionizing breast imaging technologies and non-ionizing breast imaging technologies. The ionizing segment is further divided into analog mammograph, full-field digital mammography (FFDM), 3D breast tomosynthesis, positron emission tomography/computed tomography (PET/CT), molecular breast imaging/breast-specific gamma imaging (MBI/BSGI), cone beam computed tomography (CBCT), and positron emission mammography (PEM). The non-ionizing segment is sub-segmented into breast MRI, breast ultrasound, optical imaging, automated whole breast ultrasound (AWBU), and breast thermography. On the basis of geography, the market is split into North America, Europe, Asia-Pacific, and Rest of the World (RoW).

North America is expected to dominate the global breast imaging market, accounting for a significant market share due to factors such as well-established healthcare infrastructures, better reimbursement facility, high adoption of advanced medical technologies, high R&D investment, and presence of key players.

The market in Asia-Pacific is estimated to grow at a substantial CAGR during the forecast period, owing to increasing government & non-government initiatives to prevent breast cancer, and constant development in the healthcare infrastructures. – ResearchAndMarkets