Breast Imaging Technologies Market Expanding at Rapid Pace due to Improved Technologies with Reduced Radiation Exposure
Breast cancer is one of the topmost developing cancer types in women across the world. As the incidence of breast cancer keep aggravating, there is an urgent concern amongst both medical practitioners and patients to innovate devices and technologies that can detect it before it proves to be fatal. According to the WHO, increasing urbanization and poor lifestyle choices are the main reasons for the growing number of breast cancer cases across the world. Though there are a few preventive measures, early detection is the best possible way to increase the survival chances of the patient and enable the patient to live a near-normal life again.
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According to a recent market research report published by Transparency Market Research, the global breast imaging technologies market is estimated to expand robustly at a CAGR of 12.0% during the period between 2013 and 2019. The report, titled “Breast Imaging Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 – 2019,” projects the global breast imaging technologies market to be worth US$4.06 bn by 2019. The overall market stood at a valuation of US$1.84 bn in 2012.
Global Breast Imaging Market to Reach US$4.06 billion by 2019
Breast cancer has become a common chronic disease amongst women across the world. The chances of breast cancer run high amongst women above the age of 40 or those who are undergoing hormone replacement therapy. The sudden spike in the number of women developing and losing their lives to breast cancer has given a huge impetus to the global breast imaging market. The increasing number of aging women has also boosted this market in the past few decades. According to a research report published by Transparency Market Research, the global breast imaging market was valued at US$1.84 billion in 2012 and is expected to reach a valuation of US$4.06 billion in 2019, growing at a CAGR of 12% between 2013 and 2019.
Tomosynthesis and Nuclear Imaging to Lead Global Breast Imaging Market
The global breast imaging market is segmented on the basis of technology into breast ultrasound, mammography, breast MRI, nuclear imaging, tomosynthesis, and others. Geographically, the market can be segmented into North America, Europe, Asia Pacific, and Rest of the World. Among the technology segments, the tomosynthesis and nuclear imaging segments are expected to grow at a fast CAGR of 18.1% in the forecast period. A survey revealed that mammography is conducted on at least 44 million women per year in the U.S. alone. Out of these, about 36% are asked to undergo another diagnostic test, which leads them to an ultrasound breast screening test. This cycle is expected to boost the ultrasound segment in the global breast imaging market in the aforementioned forecast period.
Describing the competitive landscape, the report profiles some of the key players in the global breast imaging technologies market such as FUJIFILM SonoSite Inc., Hologic Inc., Aurora Imaging Technologies Inc., Dilon Technologies Inc., SonoCine Inc., Philips Healthcare, GE Healthcare Ltd., and Siemens Healthcare Corp. It provides insightful information about the key players including their product segmentation, recent developments, and business strategies. The U.S.-based Hologic Inc. dominated the overall market in 2013. A number of strategic partnerships and agreements, and new product launches have contributed towards the company’s growth in the market.
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