The global breast imaging market is expected to reach USD 4.14 Billion by 2021 from USD 2.76 Billion in 2016, at a CAGR of 8.5%.
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The global breast imaging market was dominated by Hologic, Inc. (U.S.), GE Healthcare (U.K.), and Siemens Healthcare (Germany) in 2015.
These companies together accounted for a market share of ~74% in 2015; Hologic, Inc. held the leadership position in the global breast imaging market, majorly due to its broad and technologically advanced product offerings, wide geographic reach, and strong product promotional activities.
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Over the past three years, the company has primarily focused on product launches, upgrades, and approvals to maintain its market leadership position. In addition, the company focused on increasing the awareness about its breast imaging products to expand its customer base across the globe.
GE healthcare (U.K.) held the second position in the breast imaging market in 2015. The company offers several breast imaging products, including digital mammography systems, computed tomography scanners, magnetic resonance imaging systems, molecular breast imaging systems, and breast ultrasound products.
Over the past three years, the company mainly adopted the strategy of strengthening its R&D capabilities to continuously develop and commercialize innovative breast imaging products in the global market.
Leading players in this market majorly adopted the strategies of product launches, upgrades, and approvals; and partnerships, agreements, and collaborations to increase their market share. Market players adopted these strategies to access new technologies, develop novel products, expand their product portfolios, enter growing markets, and expand their customer base.
In addition to the top three market players, companies such as 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.) have a major focus on the abovementioned growth strategies.
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Major developments are taking place in the field of 3D breast tomosynthesis technology, primarily because of its rising demand among end users as it offers higher patient accessibility as compared to other breast imaging technologies. Dominant market players such as Hologic, Inc.
(U.S.), GE Healthcare (U.K.), and Siemens Healthcare (Germany) have introduced several advanced 3D breast tomosynthesis products to leverage the growth opportunities offered by this segment.
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