Breast Imaging Market by Type (Ionizing Technologies (Mammography, Digital Mammography, 3D Mammography, MBI, PET-CT, CBCT, PEM), Non-ionizing Technologies (Breast MRI, Breast Ultrasound, AWBU, Breast Thermography, Optical Imaging)) - Forecast to 2021
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The global breast imaging market is estimated to grow at a CAGR of 8.5% from 2016 to 2021 to reach USD 4.14 Billion by 2021. Factors such as growing incidence of breast cancer globally, rising government investments and funding for breast cancer treatment and related research, increasing awareness about early detection of breast cancer, rising geriatric population, technological advancements in breast imaging modalities, and launch of advanced breast imaging systems capable of detecting cancer in women with dense breast tissues are expected to propel the growth of global breast imaging market.
However, high installation cost of breast imaging systems, side effects of radiation exposure, and errors in breast cancer screening and diagnosis may restrain the growth of this market during the forecast period.
In the published report, the global breast imaging market is segmented on the basis of type and region.
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On the basis of type, ionizing breast imaging technologies segment accounted for the larger share breast imaging market in 2016. Ionizing breast imaging technologies segment is further divided into sub-segment.
Full-field digital mammography (FFDM) sub-segment accounted for the largest share among the ionizing breast imaging technologies in 2016, owing to the technological advancements in FFDM and its advantages over conventional analog mammography.
Geographically, the global breast imaging market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World. In 2016, North America (comprising the U.S. and Canada) accounted for a largest share of the breast imaging market. However, Asia-Pacific is projected to be the fastest-growing region in breast imaging market during the forecast period.
Emerging countries, including China and India, are expected to offer significant growth opportunities to market players in the coming years. The growth in these markets will majorly be driven by rising incidence of breast cancer and significant investments by governments and leading players in emerging countries.
Also, factors such as presence of less stringent regulatory guidelines, rising patient population, increasing healthcare expenditure, and improving healthcare infrastructure are expected to further drive the growth in these markets. In order to leverage the high growth opportunities in these markets, leading market players are expanding their presence in emerging countries.
As of 2015, the prominent players in the global breast imaging market include Hologic, Inc. (U.S.), GE Healthcare (U.K.), Siemens Healthcare (Germany), Philips Healthcare (Netherlands), Fujifilm Holdings Corporation (Japan), Gamma Medica, Inc. (U.S.), Toshiba Corporation (Japan), Sonocine, Inc. (U.S.), Aurora Imaging Technology, Inc. (U.S.), and Dilon Technologies, Inc. (U.S.), and Testo AG (Germany), among others.
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