Breast Imaging Equipment Market to Grow Rapidly Worldwide till 2020

February 27, 2017

The global breast imaging equipment market is expected to grow at a fast pace over the forecast period (from 2012 to 2020). Growing occurrences of chronic ailments such as breast cancer are anticipated to drive product demand. Breast imaging equipment helps capture images of breast tissues to diagnose breast cancer. Rising awareness along with rapid innovations in technology is expected to boost the market in the forthcoming years.

With continuous technological developments, breast imaging devices are becoming increasingly digitalized and efficient in disease diagnosis. Factors such as high screening costs, stringent regulatory approval, low medical reimbursement procedures, and insufficient screening expertise are likely to hinder industry growth. Computer-aided diagnosis is expected to gain popularity in the worldwide market over the forecast period. Developing countries such as China, India, South Korea, and Brazil possess considerable market potential on account of high outsourcing rate and medical tourism.

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The global Breast Imaging Equipment Market is divided into products and regions. Products include breast MRI, nuclear imaging, mammography, tomosynthesis, bioelectric images, breast ultrasound, and scintimammography. Mammography is an extensively used method for detecting breast cancer. It is also considered the standard technique for diagnosis and screening. It uses very low doses of X-ray to capture 2D images of human breasts and reduces the adverse effects after screening. The second most preferred method is breast ultrasound; used for breast cancer testing. This segment may grow at a healthy rate over the forecast period due to its effectiveness in identifying breast tumors & cancers by examining the stiffness in tissues. Breast MRI is also a very efficient method because it identifies probable anomalies by examining the densities of breast tissues.

Geographically the worldwide Breast Imaging Equipment Market is categorized into Europe, North America, Asia-Pacific (APAC), and RoW. North America was the leading regional market in 2013 in terms of revenue. This growth was attributed to the presence of high-end technology, high awareness levels about breast cancer diagnosis & treatment, and a rapidly growing female geriatric population.

Europe is the second largest regional industry. The region may exhibit substantial growth till 2020 due to an expanding target based population and high investments in sunk cost. APAC is also likely to grow rapidly on account of several healthcare reforms coupled with excellent government support. Some of the major companies in the global industry are Siemens Healthcare Corp.; Aurora Imaging Technologies Inc.; GE Healthcare Ltd.; and Dilon Technologies Inc. Most of these market players adopt various business strategies, such as acquisitions, joint venture, NDP, geographical expansions, etc. in order to thrive and prosper in the long run.

A new device has been developed for 3D breast imaging by expert researchers at Dilon Technologies (Department of Energy's Thomas Jefferson National Accelerator Facility) and at the University of Florida (Department of Biomedical Engineering). Utilized in conjunction with mammography, nuclear medicine-based imaging is presently being employed as a secondary screening tool. This is done in order to decrease the number of erroneous positive results in women that have dense breasts and are at a greater risk of developing breast cancer.

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