According to the report, the increasing emphasis on early diagnosis of breast abnormalities is predicted to enable healthy growth of the breast imaging market. As per the American Cancer Society, from 1989 to 2015, the U.S. witnessed 39% reduction in the mortality rate of patients suffering from breast cancer and in 2017, there were an estimated 3.1 million breast cancer survivors in the U.S. These statistics are a result of early diagnosis of breast abnormalities. The rising government initiatives and reimbursement policies is expected to create growth opportunities for the market in the forthcoming years.
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Leading Players operating in the Breast Imaging Market are:
Key players are involved in mergers and acquisition to strengthen their market position. Owing to increasing competition frequent innovations are taking place in the market. Some of the companies operating the industry are:
- GENERAL ELECTRIC COMPANY
- Siemens Ltd.
- Koninklijke Philips N.V.
- Hologic Inc.
- FUJIFILM Holdings Corporation
- Dilon Technologies, Inc.
- CMR Naviscan
- Thorlabs, Inc.
Escalating Demand for Superior Breast Diagnosis to Facilitate Growth Process
The increasing government policies for educating women about breast health and implications is expected to accelerate the breast imaging market growth. For instance, In October 2018, DenseBreast-info.org broadcasted three informational videos worldwide to educate women about breast density and its implications on breast health. Furthermore, the growing demand for enhanced breast diagnosis along with improved care processes, is predicted to favor the growth of the market during the forecast period. The increasing incidence of breast cancer is likely to fuel demand for breast imaging in the forthcoming years. According to BREASTCANCER.ORG, about 1 in 8 U.S. women (about 12%) will develop invasive breast cancer over the course of their lifetime. Furthermore, in 2019, an estimated 268,600 new cases of invasive breast cancer are expected to be diagnosed in women in the U.S., along with 62,930 new cases of non-invasive (in situ) breast cancer. Besides, the prolonged life expectancy of cancer survivors due to proper treatment and accurate diagnosis are factors expected to boost the breast imaging market shares in the foreseeable future.
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Rising Awareness About Early Diagnosis to Propel Growth in North America
Geographically, the global breast imaging market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America is expected to dominate the market owing to increasing awareness about the early diagnosis of breast cancer. The increasing demand for enhanced diagnostic technologies is expected to create opportunities for the market in North America. Asia Pacific and Middle East & Africa is expected to exhibit high potential for the market owing to the increasing prevalence of breast cancer in African countries. In addition, the rising awareness about breast disorders by non-governmental organizations and women & child care departments is likely to bode well for the market in Africa. In addition, a large pool of undiagnosed patient population in the regions is predicted to boost the market growth.
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