Breast Imaging Market Analysis | CMI

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2. BREAST IMAGING MARKET ANALYSIS • Breast Imaging Market, by Technology (Ionizing Breast Imaging Technology (Analog Mammography, Full Field Digital Mammography (FFDM), 3D Breast Tomosynthesis, Positron Emission Tomography/ Computed Tomography (PET/CT), Molecular Breast Imaging/ Breast Specific Gamma Imaging (MBI/BSMI), Positron Emission Mammography, Others), Non-Ionizing Breast Imaging Technology (Breast MRI (Magnetic Resonance Imaging), Breast Ultrasound, Optical Imaging, Automated Whole Breast Ultrasound (AWBU), Breast Thermography)), by End User (Hospitals, Diagnostic Laboratories, Ambulatory Surgical Centers) - Size, Share, Outlook, and Opportunity Analysis, 2018 - 2026

3. The global Breast Imaging Market size was valued at US$ 3,150.3 million in 2017, and is expected to witness a CAGR of 9.9% over the forecast period (2018 – 2026).

4. Figure 1. Global Breast Imaging Market Value Analysis and Forecast and Absolute $ Opportunity (US$ Mn)

5. Market Drivers • Increasing number of accidents and growing geriatric population are expected to drive growth of the breast imaging market • Increasing incidence of breast cancer is expected to be a major factor driving growth of the breast imaging market during the forecast period. According to the breastcancer.org, around 1 in 8 women develop breast cancer over the course of their lifetime. According to the same source, in 2017, an estimated 252,710 new cases of invasive breast cancer are expected to be diagnosed among women in the U.S. • Increasing government initiatives such as awareness programs and funding for research and development to introduce advanced imaging technologies in the market are expected to propel the breast imaging market growth • For instance, in 2013, Avon Foundation, in partnership with NCI (National Cancer Institute) and the Center for Advancing Innovation funded US$ 250,000 to launch the Breast Cancer Start-up Challenge aimed at teams of business, engineering, medical/scientific, and computer science students, as well as small sized entrepreneurs to develop and commercialize advanced breast cancer inventions.

6. Market Restraints • However, side effects of radiation and installation cost of breast cancer imaging devices and facilities may hinder growth of the breast imaging market.

7. Breast Imaging Market- Regional Analysis • Regional segmentation of the global breast imaging market by Coherent Market Insights comprises North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. • North America is expected to hold dominant position in the global breast imaging market, owing to increasing initiatives by government, presence of major players, and early adoption of advanced medical technologies in economies such as the U.S. and Canada. • Europe is also expected to show significant growth in breast imaging market, owing to increasing prevalence of breast cancer among women in various economies of this region. According to a report by the UNICEF (The United Nations Children's Fund), around 41,000 new cases of women are diagnosed with breast cancer in England annually and become more common cancer observed in the women in England. • Increasing awareness among the populace in Asia Pacific, along with a large population base is expected to position Asia Pacific as a high growth market in the near future. According to International Association of Cancer Registries, in 2012, over 600,000 new breast cancer cases were reported in Asia, accounting for 39% of all breast cancers diagnosed worldwide.

8. Figure 2: Global Breast Imaging Market Value (US$ Mn), By Region

9. Key Players • Key players operating in the breast imaging market include Hologic, Inc., General Electric Company, Siemens AG, Koninklijke Philips N.V., Fujifilm Holdings Corporation, Gamma Medica, Inc., Toshiba Corporation, Sonocine, Inc., Aurora Imaging Technology, Inc., and Dilon Technologies, Inc.

10. Key Development • Manufacturers are focused on providing innovative products and solutions for women’s health through partnerships or agreements. For instance, in March 2018, Philips collaborated with the Hologic Inc. to offer combine Hologic’s innovative mammography technologies and Philips’ leading portfolio of ultrasound, MRI, CT, and X-ray systems, advanced informatics, and broad range of services, including maintenance, upgrade, training and operational performance management services for screening, diagnosis, and treatment of women across the world. • Moreover, in April 2016, Fujifilm India Pvt Ltd collaborated with NM Medical, for the installation of Fujifilm’s 50 Micron 3D Mammography machine-a highly advanced breast cancer diagnostic machine used to detect breast cancer among women at an early stage.

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