Breast Imaging Market Size & Growth Analysis to 2030

The global breast imaging market size was estimated to generate significant revenue of over USD 4 billion in 2021 and anticipated to grow at a considerable CAGR of over 8% during the forecast period from 2022 to 2028. The technological advancement in breast imaging coupled with the growing prevalence of breast cancer around the world is a primary factor driving the market growth. According to the information shared by WCRF (World Cancer Research Fund) in March 2022, it is estimated that more than 2.26 million new breast cancer new cases were found in women in 2020 and it caused 684,996 deaths globally. Furthermore, the increasing adoption of highly sophisticated imaging systems, technological advancement, and the increasing investment by government and private organizations are further anticipated to boost the market growth over the forecast period.

Market Drivers:

Increasing Breast Cancer Incidence: Breast cancer is one of the most common types of cancer among women globally. The rising incidence of breast cancer drives the demand for early detection and diagnosis through breast imaging techniques. Regular breast screenings and the need for accurate and timely diagnosis contribute to the growth of the breast imaging market.

Technological Advancements: Advances in breast imaging technologies have improved the accuracy, resolution, and efficiency of breast cancer detection. Innovations such as digital mammography, breast tomosynthesis, breast MRI (Magnetic Resonance Imaging), and molecular breast imaging have enhanced the ability to detect breast abnormalities and improve diagnostic accuracy. The continuous development of new technologies and imaging modalities drives market growth.

Increasing Awareness and Screening Programs: There has been a significant increase in awareness about breast cancer and the importance of early detection through regular screenings. Government initiatives, awareness campaigns, and screening programs have played a crucial role in promoting breast cancer awareness and encouraging women to undergo regular breast imaging examinations. The growing emphasis on preventive healthcare drives the demand for breast imaging services.

Aging Population: The risk of developing breast cancer increases with age. As the global population continues to age, the prevalence of breast cancer is expected to rise. The aging population contributes to the growing demand for breast imaging services and screening programs, leading to market growth.

Rising Demand for Minimally Invasive Procedures: Minimally invasive breast imaging techniques, such as ultrasound and breast MRI, offer advantages such as non-invasiveness, lower radiation exposure, and improved patient comfort. There is a growing preference for these techniques over traditional screening methods, such as mammography, driving the demand for advanced breast imaging technologies.

Increasing Adoption of Digital Breast Imaging: Digital breast imaging, including digital mammography and breast tomosynthesis, offers benefits such as improved image quality, reduced examination time, and enhanced diagnostic accuracy. The transition from film-based to digital imaging systems is driving the growth of the breast imaging market. Additionally, the integration of digital imaging with Picture Archiving and Communication Systems (PACS) and Electronic Health Records (EHR) facilitates efficient image storage, retrieval, and sharing, further driving market growth.

Reimbursement Policies and Insurance Coverage: Adequate reimbursement policies and insurance coverage for breast imaging procedures play a vital role in driving market growth. Improved access to affordable breast imaging services encourages more women to undergo regular screenings, leading to early detection and improved patient outcomes.

Research and Development: Ongoing research and development activities in the field of breast imaging contribute to the introduction of advanced imaging technologies and techniques. Investments in R&D for developing new imaging modalities, imaging agents, and software solutions help drive market growth by improving the accuracy and efficiency of breast cancer detection and diagnosis.

Market Snapshot:

Market Insights:

By technology, the ionizing segment dominated the global breast imaging market in 2021

The global breast imaging market is bifurcated into technology, end-user, and geography. On the basis of technology, the market is further segmented into ionizing and non-ionizing technology. The ionizing technology segment dominated the global market in 2021 and expected to hold the largest revenue share of around 2/3 market share by 2028. The introduction of new ionizing based technologies in breast imaging and the advancement in available technologies are some major factors driving the segment growth. Furthermore, the rising awareness among people regarding the early detection of breast cancer is further anticipated to drive segment growth. On the other hand, the non-ionizing technology segment is accounted to grow at a significant CAGR over the forecast period. The advantages associated with the technology such as greater generation of anatomical details for diagnosis and higher sensitivity to smaller breast lesions are expected to fuel the segment growth over the forecast period.

By end-user, the hospital’s segment is accounted to hold the largest market share in 2021

On the basis of end-user, the market is segmented into hospitals, breast care centers, and diagnostic imaging centers. The hospitals segment dominated the global breast imaging market in 2021 and anticipated to maintain its dominance over the forecast period. The presence of well-equipped imaging facilities in hospitals is one of the key factor to drive the segment growth. Furthermore, the increasing investment in healthcare infrastructure and diagnostic equipment is further anticipated to propel the segment growth over the forecast period. On the other hand, the diagnostic imaging centers segment is estimated to grow at a significant CAGR over the forecast period. The rising awareness regarding breast cancer and the availability of advanced breast imaging services are estimated to propel the segment growth.

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The breast imaging comprehensive study analyzes industry trends, market size, competitive analysis, and market forecast – 2022 to 2028. Research Corridor report provides detailed premium insight into the global market and reveals the potential revenue streams, commercial prospects, market drivers, challenges, opportunities, issues, and events affecting the industry. In addition, the report has a dedicated section covering market forecasts and analysis for leading geographies, profiles of major companies operating in the market and expert opinions obtained from interviews with industry executives and experts from prominent companies.

The breast imaging market research report presents the analysis of each segment from 2019 to 2028 considering 2021 as the base year for the research. The compounded annual growth rate (CAGR) for each respective segment is calculated for the forecast period from 2022 to 2028.

Historical & Forecast Period

• 2019-20 – Historical Year
• 2021 – Base Year
• 2022-2028 – Forecast Period

Market Segmentation:

By Type:

• 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

By End-User:

• Hospitals
• Breast Care Centers
• Diagnostic Imaging Centers

By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Regional Analysis:

By region, North America held the largest revenue share of over 1/3 market share in the base year

On the basis of region, North America dominated the global breast imaging market in 2021 and expected to hold the largest revenue share of over 1/3 market share by the end of the analysis period. The higher expenditure on healthcare and the increasing number of breast cancer are some major factors driving the market growth in the region. Furthermore, the rising awareness regarding the early detection of breast cancer and the presence of well-established reimbursement facilities are further anticipated to propel the market growth in North America. On the flip side, the Asia Pacific is estimated to register the fastest CAGR over the forecast period. The rising prevalence of breast cancer and the increasing investment in research & development is expected to fuel the market growth in the region.

Geographically, the breast imaging market report comprises dedicated sections centering on the regional market revenue and trends. The breast imaging market has been segmented on the basis of geographic regions into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The breast imaging market has been extensively analyzed on the basis of various regional factors such as demographics, gross domestic product (GDP), inflation rate, acceptance, and others. Breast imaging market estimates have also been provided for the historical years 2019 & 2020 along with forecasts for the period from 2022 – 2028.

Competitive Assessment:

Some of the major market players operating in the global breast imaging market are GE Healthcare, Hologic, Inc., Philips Healthcare, Gamma Medica, Inc., and Siemens Healthcare. Companies are exploring markets through expansion, new investment, the introduction of new services, and collaboration as their preferred strategies. Players are exploring new geography through expansion and acquisition to gain a competitive advantage through joint synergy.

Key Companies:

• 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.

Key Questions Answered by Breast Imaging Market Report

• Global breast imaging market forecasts from 2022-2028
• Regional market forecasts from 2022-2028 covering Asia-Pacific, North America, Europe, Middle East & Africa, and Latin America
• Country-level forecasts from 2022-2028 covering 15 major countries from the regions as mentioned above
• Breast imaging submarket forecasts from 2022-2028 covering the market by technology, end-user, and geography
• Various industry models such as SWOT analysis, Value Chain Analysis about the market
• Analysis of the key factors driving and restraining the growth of the global, regional, and country-level breast imaging markets from 2022-2028
• Competitive Landscape and market positioning of top 10 players operating in the market