Breast imaging is done in order to screen as well as diagnose the medical characteristics of breast condition and detect, diagnose and treat breast cancer in it earliest stages. Mammography or breast imaging is done for both screening and diagnostic purposes, depending on the condition of the patient and medical advice. Growing awareness towards healthcare, female health and breast cancer are creating strong growth opportunities for the global breast imaging market as well. Special efforts from the governments of emerging regions are also creating strong growth opportunities for this industry in such regions. Advancing technologies and innovative, early detection techniques are expected to create better growth prospects for the market in near future.
Segmentation in Mammography Market
The global breast imaging market is segmented on the basis of the types of tests and their demand across different geographic regions. These regions mainly include Asia Pacific (India, China, Japan and rest of APAC), North America (US and Canada), Europe (UK, France, Germany and rest of Europe) and the rest of the world. The types of mammography are mainly segmented into two basic tests, which include ionizing imaging and non-ionizing techniques. Sub-segments in the industry include:
- Non-Ionizing: Breast MRI, ultrasound, optical imaging, whole breast ultrasound, and breast thermography
- Ionizing: Analog, full-field mammography, positron emission mammography (PEM), 3D breast tomosynthesis, molecular breast imaging (MBI), positron emission tomography (PET/CT), cone beam computer tomography, and so on
Drivers and Restraints for the Industry
Breast cancer is one of the most life threatening types of cancer. As a result, the healthcare organizations as well as government and other authoritative bodies are constantly making efforts to spread enough awareness about these diseases, its prevention and early detection. Breast imaging is one of the most common tools used for early detection of breast cancer as well as screening of these organs for any prevailing health conditions. Growing awareness towards female health and overall healthcare are some of the vital drivers for the breast imaging market. Growth in the instances of cancer, technological advancements in imaging modalities, growth in aging population, and rising demand for the use of minimal doses of radiation are some of the key drivers for this market.
Major restraining factors for the breast imaging and mammography market include errors in breast cancer screening and diagnosis, installation costs for these imaging systems, and side effects of radiation exposure. The market growth is also expected to be restrained by the stringent regulatory approval procedures, cancer detection amongst women with dense breast tissues, and unfavorable reimbursement scenario across developing countries. Despite these restraining factors, the global breast imaging market is expected to maintain a steady CAGR of over 8% from 2014 to 2019. At the projected growth rate, the market is estimated to become worth more than $3 billion by the end of 2019.