The Breast Imaging Market is projected to reach USD 6.6 billion by 2028, with a CAGR of 8.5% from 2023 to 2028. The report titled "Breast Imaging Market by Technology (Ionizing, Non-ionizing), Product (Breast Imaging Systems, Software and Services, Accessories), End User (Hospitals and Clinics, Diagnostic Imaging Centers, Breast Care Centers) - Global Forecasts to 2028" highlights key factors driving market growth, such as rising awareness campaigns, increasing public-private investments, and lucrative opportunities in emerging markets.
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Technology Segment Analysis
During the forecast period of 2023-2028, the non-ionizing breast imaging technologies segment is expected to experience significant growth, surpassing the ionizing breast imaging technologies segment, which held the highest market share in 2022.
Product Segment Analysis
In terms of product, the software services segment held the largest market share in 2022 and is projected to exhibit the highest CAGR during the forecast period. Market growth is driven by the increasing installation of advanced software and the introduction of novel software solutions.
End User Segment Analysis
Among end users, hospitals and clinics accounted for the largest market share in 2022, fueled by the rising adoption of advanced instruments supporting early detection in various healthcare settings.
Regional Growth Analysis
The Asia Pacific region is expected to witness the highest growth in the breast imaging market from 2023 to 2028. Key market players are expanding their manufacturing capabilities in this region, where the adoption of high-end equipment is consistently increasing, providing significant growth opportunities.
Opportunity: Growth Potential in Emerging Countries
Developing economies offer high growth opportunities for key players in the breast imaging market. Countries such as India, China, Brazil, South Korea, Turkey, Russia, and South Africa have large populations and present a sustainable market for diagnostic imaging devices. The demand for diagnostic imaging has increased significantly in these economies due to the rising prevalence and growing awareness of breast cancer. Initiatives like the Indian government's Ayushman Bharat program, which focuses on providing insurance schemes, are contributing to market growth. Favorable government and private policies are enhancing access to diagnostic imaging, including reimbursement provisions.
Challenge: Errors in Breast Cancer Screening
Breast imaging modalities face limitations such as lower sensitivity, low reliability, painful compressions, and low patient tolerance. Some invasive breast tumors detected by traditional mammography stop growing at certain stages and are considered non-life-threatening, leading to unnecessary overtreatment. Although X-ray mammography is superior in avoiding these limitations and obtaining accurate results, further testing is required in some countries like the US to confirm results. The accuracy of mammography in women with dense breasts is lower, leading to diagnosis errors. These limitations are expected to hamper the adoption of these technologies.
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Notable Players
As of 2022, notable players in the breast imaging market include GE Healthcare (US), Hologic, Inc. (US), Siemens Healthcare GmbH (Germany), Koninklijke Philips N.V. (Netherlands), and FUJIFILM Holdings Corporation (Japan).
Related News:
https://www.prnewswire.com/news-releases/breast-imaging-market-worth-6-6-billion--marketsandmarkets-301865476.html
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