Breast Imaging Market - Growth, Trends, and Forecast (2019 - 2024)
The major factors for the growth of the Breast Imaging market include the growing prevalence of breast cancer, technological advancements in the field of breast imaging, and investment from various organizations in breast cancer screening campaigns. According to Breast Cancer Now 2018 report, it was reported that in the UK over 50,000 women and around 350 men are diagnosed with breast cancer every year. Around 1,000 women die from breast cancer every month. On the other hand, in breast imaging procedures the subject or patient is exposed to multiple sets of radiations for therapeutic purposes. However, radiation therapy is not always good for the patient’s health. Hence, the errors and side effects associated with breast screening is a major restraining factor for the growth of the market studied.
Scope of the Report
As per the scope, Breast imaging is a subspecialty of diagnostic radiology. It involves a range of imaging procedures with a wide variety of tools and technologies to screen, detect, and diagnose breast cancer. If cancer is detected, these tests help our doctors find the type of cancer, as well as determine the stage and location of cancer.
Key Market Trends
Mammography holds the major share in Global Breast Imaging Market
The mammography segment of the global breast imaging market is growing due to the many initiatives taken for the early detection of breast cancer. For instance, the United States Preventive Services Task Force has developed guidelines for mammography screening. Additionally, the National Cancer Institute conducts and facilitates many organizations to develop their guidelines. Breast cancer is one of the leading causes of death among women. Since mammography is the standard technique used to screen breast cancer, governments and other healthcare organizations around the world are taking initiatives to provide women, between the ages of 50 and 75, access to mammography screening. This is increasing the global demand for mammography. In addition, there have been a number of advancements in the field that prevent over-diagnosis and provide better sensitivity to detect smaller carcinomas. These continuous advancements in this field are expected to augment the mammography segment of global breast cancer screening tests market.
North America Accounts for the Largest Share in Global Breast Imaging Market
The number of cancer patients in North America has witnessed a considerable rise. Prostate and breast cancer are the most prevalent forms of cancer in the region. According to the American Cancer Society, Breast cancer is the most commonly occurring cancer in women and the second most common cancer overall. In the US in 2019, there will be an estimated 268,600 new cases of invasive breast cancer expected to be diagnosed in women along with 62,930 new cases of non-invasive (in situ) breast cancer.
The American Cancer Society is playing a vital role in early research to demonstrate the feasibility of mass screening for breast cancer, joining hands with the National Cancer Institute on the nationwide Breast Cancer Detection Demonstration Project. There are initiatives, such as the United States Preventive Services Task Force (USPSTF), made up of doctors and specialists who are researching ways to prevent diseases or detect them early. These societies are spreading awareness among people regarding the benefits of early breast cancer diagnosis and treatment. These factors, as well as the growing innovations in breast cancer imaging techniques, are expected to drive the global breast imaging market.
Global Breast Imaging Market is highly competitive and consists of several major players. In terms of market share, few of the major players currently dominate the market. However, with technological advancements and product innovations, mid-size to smaller companies are increasing their market presence, by introducing new products and reducing the side effects of the procedures. Key players present in the market include Fujifilm Holdings Corporation, GE Healthcare, Hologic Inc., General Medical Merate SpA, Koninklijke Philips NV among others.
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