Breast Imaging Technologies Global Market Report 2024

The breast imaging technologies market has grown strongly in recent years. It will grow from $4.39 billion in 2023 to $4.79 billion in 2024 at a compound annual growth rate (CAGR) of 9.1%. During the historical period, growth was propelled by heightened awareness and expanded screening initiatives, alongside a surge in breast cancer cases. Government-led campaigns aimed at raising breast cancer awareness also contributed significantly to this growth.

The breast imaging technologies market is expected to see strong growth in the next few years. It will grow to $6.5 billion in 2028 at a compound annual growth rate (CAGR) of 8.0%. Anticipated growth in the forecast period is driven by the increasing adoption of 3D mammography (tomosynthesis), a growing preference for minimally invasive procedures, heightened attention to women's health and precision medicine, and the broadening utilization of these technologies in both research and clinical trials, with a focus on patient-centric approaches.

The escalating prevalence of breast cancer stands as a significant driving force behind the growth of the breast imaging technologies market. Characterized by abnormal cell growth within the breast, breast cancer is a pressing concern predominantly affecting women. Imaging technologies play a pivotal role in detecting, diagnosing, and staging breast cancer, especially in its early and more treatable stages. Notably, estimates from Susang Komen For Cure in November 2023 projected approximately 297,790 new cases of invasive breast cancer among women in the U.S. This underscores the imperative for advanced breast imaging technologies to confront the expanding breast cancer landscape.

The anticipated expansion of the breast imaging technologies market is closely tied to the upsurge in healthcare expenditure. This expenditure encompasses the total investment in healthcare-related goods and services within a given healthcare system or economy and significantly influences the development and accessibility of technologies within the breast imaging domain. As per data from the Canadian Institute for Health Information in November 2022, healthcare expenditure rose by 0.8% to $331 billion in 2022 from 7.6% in 2021. This marked increase underscores the pivotal role of healthcare spending in driving advancements in breast imaging technologies.

Innovative product developments emerge as a prominent trend reshaping the landscape of breast imaging technology. Leading companies in this sector prioritize the creation of novel technologies to enhance imaging capabilities and fortify their market position. For instance, Seno Medical introduced the Imagio OA/US Breast Imaging System in November 2022, which amalgamates functional and anatomical breast imaging through laser optics and grayscale ultrasound. This cutting-edge system provides distinctive opto-acoustic images mapping blood flow within and around breast lumps alongside conventional ultrasound images. Its comparative studies against traditional imaging modalities demonstrate its potential as a more effective tool for radiologists in confirming or ruling out cancer, further augmented by its AI-driven BI-RADS classifications.

Key players in the breast imaging technologies market channel efforts into product innovations, notably within ultrasound systems, to bolster market revenues. For instance, Siemens Healthcare GmbH launched the refreshed Acuson family systems in July 2022, featuring 12 new transducers across four ultrasound systems. These systems incorporate AI-powered tools and advanced imaging modes, promising heightened image quality and clinical adaptability, particularly in breast imaging applications. Designed to enhance efficiency and consistency for clinicians, these advancements aim to broaden access to care, thereby contributing significantly to the expanding breast imaging technologies market.

In August 2023, Solis Mammography, a prominent US healthcare provider specializing in breast screening and diagnostics, completed the acquisition of Carolina Breast Imaging. This undisclosed transaction represented a substantial expansion for Solis Mammography within the breast imaging market, particularly in the eastern region of North Carolina. This strategic move facilitated the integration of Carolina Breast Imaging's specialized services into Solis Mammography's extensive network, furthering advancements in next-generation innovations and strengthening accessible community-oriented women's imaging networks. Carolina Breast Imaging, renowned for its expertise in breast imaging and early breast cancer detection, seamlessly merged its offerings into Solis Mammography's portfolio through this acquisition.

Major companies operating in the breast imaging technologies market report are Fujifilm Holdings Corporation, GE Healthcare Technologies Inc., Hologic Inc., Koninklijke Philips N.V., Siemens Healthineers AG, Aurora Healthcare US Corp., Canon Inc., Koning Corporation, Toshiba Corporation, Sonocine Inc., Agfa-Gevaert N.V., Allengers Medical Systems Ltd., Aspect Imaging Ltd., Bruker Corporation, Carestream Health, CMR Naviscan Corporation, Delphinus Medical Technologies Inc., Esaote SpA, Fluidigm Corporation, General Medical Merate SpA, Dilon Technologies Inc., Smart Breast Corporation, Gamma Medica Inc., Micrima Limited, Tualatin Imaging P.C., Leica Biosystems Nussloch GmbH, Planmed Oy, Metaltronica S.p.A, SuperSonic Imagine, Women's Diagnostic Center of America LLC.

North America was the largest region in the breast imaging technologies market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global breast imaging technologies market report during the forecast period. The regions covered in the breast imaging technologies market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the breast imaging technologies market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary imaging modalities in breast imaging technologies include mammography, breast ultrasound, breast MRI, image-guided breast biopsy, positron emission tomography, and other methods. Mammography, utilizing low-dose X-rays to generate breast tissue images, stands as the predominant screening tool for detecting breast cancer. These technologies encompass both ionizing and non-ionizing approaches and are employed in hospitals, diagnostic imaging centers, and similar facilities.

The breast imaging technologies market research report provides breast imaging technologies market statistics, including breast imaging technologies industry global market size, regional shares, competitors with a breast imaging technologies market share, detailed breast imaging technologies market segments, market trends and opportunities, and any further data you may need to thrive in the breast imaging technologies industry. This breast imaging technologies market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The breast imaging technologies market consists of revenues earned by entities by providing cone beam computed tomography (CBCT), molecular breast imaging (MBI), breast specific gamma imaging (BSGI), nuclear medicine imaging, and 3D breast tomosynthesis services. The market value includes the value of related goods sold by the service provider or included within the service offering. The breast imaging technologies market also includes sales of x-ray generators, image detectors and breast compression paddle which are used in providing breast imaging technologies services. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products


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