Breast Imaging Market

The global breast imaging market size was valued at nearly USD 4.34 Billion in 2022 and is anticipated to reach USD 8.60 Billion by 2031, expanding at a CAGR of 7.9% during the forecast period, 2023 – 2031.

Breast imaging is a type of medical technology that involves imaging breasts for screening and diagnosis purposes. Breast imaging technology gives radiological pictures of breasts, and helps to detect many breast-related disorders such as lesions, fibrocytes, fibroadenomas, blocked milk ducts, intraductal papilloma’s, cysts, infections, and others.

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Physicians, oncology surgeons, market players, and others are using these technologies and tools to perform screening of breast structure, cells composition, and other internal parts of the breast to detect and diagnose breast cancer.

Breast imaging technologies comprise both ionizing breast imaging technology and non-ionizing breast imaging technology to detect tumor lesion in the breast and diagnose cancer and other breast-related diseases. Mammography, magnetic resonance imaging (MRI), breast ultrasound, and positron emission tomography (PET) are among the commonly used imaging modalities. Increasing awareness about breast health and rising prevalence of breast cancer drives the global breast imaging market.

The increasing rate of cancer survival, better screening and detection, and rapid advancements in breast cancer therapies during the last two decades with improvement of treatment outcomes created huge demand for breast imaging. As a result, the global breast imaging market is projected to register significant growth at a high CAGR of around 7.9% in the coming years. Advanced technological innovations such as AI applications and machine learning tools and continuous launch of advanced breast imaging equipment and software propels the market.

In the recent years, there has been increasing investment and funding in Research and Development (R&D) projects to improve breast diagnosis, improve care processes, and prolong the life expectancy of cancer survivors. The rising prevalence and incidence of breast-related disorders, awareness of early detection medical procedures, and availability of advanced technologies to diagnose and treat breast cancer are expected to drive the breast imaging market and create opportunities in the market.

Covid-19 Imapct on Breast Imaging Market

The outbreak of COVID-19 across the globe affected almost all the sectors and markets around the world. The pandemic has had a significant impact on the healthcare sector and led to various complications while maintaining the essential health services. Lockdowns and other restrictions implemented by governments throughout the world affected the healthcare workers.

The rapid influx of COVID-19 patients put pressure on healthcare systems, creating shortage of hospital rooms and disrupting the routine treatment of cancer patients whose conditions are likely to be worsened when standard care is delayed. Restrictions on movement during the lockdown delayed the routine breast examination and screening of cancer diagnosis patients, which had a negative impact on the breast imaging market, especially in the US and Europe. High rate of COVID-19 cases among the health workers is reducing the availability of medical staff and leading to shortage of resources in hospitals.

According to the World Health Organization (WHO), as of April 2020, the COVID-19 pandemic has hit over 22,000 health care workers across 52 countries. In the US, the number of health care workers who tested positive for coronavirus is anticipated to be far higher than the reported tally of 9,200. Such a huge impact on the functionality of hospitals and other health care systems led to significant decline in breast cancer diagnoses and had a negative impact on the breast imaging market.

Breast Imaging Market Dynamics

The breast imaging market report presents a complete overview of market dynamics by focusing on the current existing market trends, existing key drivers, growth opportunities, and emerging challenges that can shape the outcome or overall performance of the market during the forecast period, 2022 to 2030.

Major Trends

High adoption of 3D mammography imaging test in screening and diagnosing procedures

Clinicians and healthcare providers are considering the adoption of 3D mammography in breast cancer screening policies. 3D mammography combines multiple breast X-rays to create a three- dimensional picture to detect breast cancer. Such an advanced screening test is utilized to detect breast cancer in people who have no signs or symptoms of breast cancer. 3D mammogram machines create 3D picture and standard 2D mammogram images. The US is the only country that currently uses 3D mammography for screening programs. Other countries use 3D mammography for diagnostic purposes.

Rising use of multi-modality imaging to detect breast cancer

Factors such as genetics, family history, polygenic risk scores, and high mammographic density contribute to the risks associated with breast cancer. Risk-based screening is likely to encourage the use of multi-modality imaging techniques.

The utilization of multimodality imaging techniques such as PET/MRI, PET/CT and SPECT/CT facilitates better detection of molecular and anatomic changes within the setting of a single examination that involves the administration of radiolabeled peptide probes and detection by appropriate imaging modalities. A combination of these imaging techniques provides high-quality picture, patient comfort, and appropriate dosage for patients.

Key Drivers

Growing prevalence and incidence of breast cancer among women is driving the global breast imaging market

In the recent years, breast cancer became highly prevalent among women with increasing cases of breast related disorders including lesions, cysts, fibrocytes, and others, mainly in the US, the UK, and Australia. According to the Global Cancer Observatory, the number of new breast cancer cases were reported to be 1,651,326 in 2012, which increased by 26.5%, reaching 2,088,849 in 2018. These numbers are expected to increase to 2,407,748 and 2,853,857 new cases by 2025 and 2035 respectively.

Similarly, fatality due to breast cancer is also expected to increase by more than 44% from 626.679 in 2018 to 904,805 by 2025. Increasing female population, rising geriatric population, widespread use of hormone replacement therapy, and hormonal imbalance are some factors that are associated with the increasing risk of breast cancer. As a result, demand for breast imaging is increasing for early detection and diagnosis of breast cancer.

Research and development of hybrid imaging system creates lucrative opportunities in the breast imaging market.

Advances in imaging technologies have revolutionized the treatment of breast cancer and improved the quality of diagnosis. The utilization of modalities by combination of integrated imaging techniques such as CT scans and MRIs to visualize the anatomic details of the organs, increase patient comfort, and reduce the patient dosage has increased.

Continuous launch of advanced imaging equipment and software, rising investment and funding in research and development projects for breast cancer treatment by many organizations, and government support boosted the extensive research and development of hybrid imaging system. Such factors offer significant growth opportunities for the key players operating in the global breast imaging market.

Rising consciousness and awareness regarding breast health is propelling the breast imaging market.

The increasing prevalence of breast cancer and breast-related diseases led women to seek timely medical advice. Many breast cancer cases are diagnosed at the late stage, due to lack of awareness about the early warning symptoms and screening methods. This increases the rate of fatality across the globe. As a result, various organizations and governments are carrying out awareness programs and breast cancer imaging campaigns to educate women about breast health and early detection of breast cancer.

EXISTING CHALLENGES

Risk of excessive radiation exposure poses challenges to the breast imaging market.

Breast imaging modalities are utilized as instruments for detection of breast cancer cells. Ionizing radiation is used in several imaging techniques, including digital breast chemosynthesis, contrast-enhanced mammography, molecular breast imaging, digital mammography, and others. As a result, high risk associated with excessive radiation exposure poses challenges and limits the growth of the breast imaging market.

High cost of imaging systems and technology hampers the growth of the market.

High cost of imaging systems used to detect breast cancer and tight regulatory clearance procedures of imaging technologies and systems is expected to hamper the growth of the breast imaging market around the globe during the forecast period.

Emerging Opportunities

• Development of AI-based screening systems and computer-aided detection applications contribute to the growth of the market. These systems and applications help clinicians and physicians to detect cancer cells and minimize false positive results, which enhances the quality of predictions of imaging modalities. They are expected to improve accuracy by increasing both sensitivity and specificity, increase the accuracy of diagnosis with decision-making support tools, increase reproducibility by addressing inter-reader variability and decreasing operator dependency, and improve the overall user experience.

• Genetic testing is widely utilized to personalize prediction of diseases. The emergence of risk-based screening helps to improve diagnostic imaging and is especially helpful for patients affected by breast cancer.
• Many private and government organizations receive continuous investments and funding to improve healthcare infrastructure, which is expected to create growth opportunities in the market.

Scope of Breast Imaging Market Report

The report on the global breast imaging market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Breast Imaging Market Segment Insights

The ionizing breast modality segment accounts for major market share

Based on imaging technologies, the global breast imaging market is segmented into ionizing breast imaging technology and non-ionizing breast imaging technology. The ionizing breast imaging technology segment is further segmented into FFDM, analog, 3D Mammogram, electric impedance tomography, Positron Emission Tomography & Computed Tomography (PET-CT), Cone-Beam Computed Tomography (CBCT), image-guided breast biopsy, and Breast-specific Gamma Imaging/Molecular Breast Imaging (BSGI/MBI).

The non-ionizing breast imaging technology segment is further segmented into breast ultrasound, Breast Magnetic Optical Imaging (MRI), Computer-aided detection (CAD), Automated whole breast ultrasound (AWBU) breast thermography, and others. The ionizing breast imaging technology segment held a key share of the market in terms of revenue in 2021 and is expected to dominate the global breast imaging market in the coming years, owing to rising ongoing technological advancements and continuous launch of breast imaging systems.

In 2021, the FFDM segment, which is associated with early diagnosis and treatment of breast cancer, accounted for a share of more than 30% of the breast imaging technologies market.

The hospital segment held a large market share

On the basis of end-users, the global breast imaging market is divided into hospitals, clinics, diagnostic imaging centers, breast centers, ambulatory surgical centers, cancer care centers, research centers, and others.

The hospital segment held a large market share of more than 40% of the global imaging market, due to increasing preference of consumers for treatment in hospitals. Additionally, the high availability of well-equipped operating and diagnostic rooms, better health coverage, and increasing investments in the development of healthcare infrastructure are expected to contribute to the growth of the segment.

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Regional Analysis

In terms of regions, the global breast imaging market is classified into Asia Pacific, North America, Latin America, Europe, and the Middle East & Africa. In 2020, North America accounted for a large share of the global breast imaging market. However, the market in Asia Pacific is projected to dominate the global imaging market, owing to the increasing incidence of breast cancer, rising investments and expenditure on healthcare infrastructure, and growing number of screening and awareness campaigns to promote early detection of breast cancer in the region.

Additionally, rising expenditure and funding on research and development of breast cancer by governments and organizations and emergence of advanced technological imaging systems drives the market in the region.

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Segments

Imaging Technologies

• Ionizing Breast Imaging Technology

• FFDM
• Analog
• 3D Mammogram
• Electric Impedance Tomography
• Positron Emission Tomography& Computed Tomography (PET-CT)
• Cone-Beam Computed Tomography (CBCT)
• Image-guided breast biopsy
• Breast-specific Gamma Imaging/Molecular Breast Imaging

• Non-ionizing Breast Imaging Technology

• Breast Ultrasound
• Breast Magnetic Optical Imaging (MRI)
• Computer aided detection (CAD)
• Automated whole breast ultrasound (AWBU)
• Breast Thermography
• Others

 End-users

• Hospitals
• Clinics
• Diagnostic Imaging Centers
• Breast Centers
• Ambulatory Surgical Centers
• Cancer Care Centers
• Research Centers
• Others

Regions

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

Key Players

• Hologic, Inc.
• Shenzhen Mindray Bio-Medical Electronics Co.,Ltd
• Imaging Diagnostic Systems, Inc
• Toshiba Corporation
• Supersonic Imagine
• Sonocine
• General Electric Company
• Smart Breast Corporation
• Others

Competitive Landscape

Key players competing in the global breast imaging market are Hologic, Inc.; Shenzhen Mindray Bio-Medical Electronics Co.,Ltd; Imaging Diagnostic Systems,Inc; Toshiba Corporation; Supersonic Imagine; Sonocine; General Electric Company; Smart Breast Corporation; and others. Some of these players adopted a series of business development strategies including mergers and acquisitions, partnerships and collaborations, product launches, and expansion of production capacity to expand their consumer base and enhance their market share.

Latest Developments

• In February 2021, Smart Breast Corporation, a privately-held company which is primarily focused on the screening and diagnosis of breast cancer, announced its collaboration with FoxSemicon Integrated Technologies,Inc. (FITI) to provide Molecular Breast Imaging (MBI) systems for women for early detection of breast cancer. The companies are expected to co-develop and manufacture an innovative, cost-effective, next-generation MBI system that integrates stereotactic MBI-guided biopsy and 3D-MBI technology to enhance functionality.

• On 24^th March 2022, an innovative medical technology company, Hologic,Inc., opened its innovation center in Aix-en-Provence, France. The new commercial office, training, and research & development facility is anticipated to support Hologic’s ultrasound interventional and surgical solutions across the continuum of breast health care.