Factors driving the market include an increase in the prevalence of breast cancer, a growing emphasis on contrast-based diagnostic solutions, a favorable funding and grant environment, rising awareness about early breast cancer detection, and technological advancements in breast imaging modalities.
Breast imaging is a specialist specialty of diagnostic radiology that captures pictures of the breasts for screening or diagnostic purposes.
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Following are the types of breast imaging techniques:
- Mammograms: Breast imaging for screening and diagnosis is carried out using X-rays. Dedicated technicians guarantee proper technique, placement, and compression to reduce radiation exposure. Mammograms frequently integrate tomosynthesis, which improves early cancer diagnosis and reduces false alarms.
- Ultrasound: It uses sound waves to create breast tissue pictures that reveal composition and blood flow in questionable locations. Specialized breast sonographers perform precise, painless ultrasounds as a common follow-up to address issues found in mammograms or examinations.
- MRI: Individuals diagnosed with or at high risk of breast cancer benefit from precise, radiation-free 3-D breast pictures obtained by MRI. It employs modern 3T scanners for screening, staging, therapy evaluation, and pre-operative planning. Eye coverings and warm blankets add comfort to the 45-minute inspection.
- Image-guided Breast Biopsy: A minimally invasive breast biopsy includes removing tissue for microscopic inspection in order to detect cancer cells. Advanced imaging enables exact needle insertion depending on tumor features.
Technological Enhancements for Breast Cancer Detection Drives the Breast Imaging Market
Technological improvements have had an impact on the worldwide breast imaging industry. Citing the lucrative potential of the sector, companies have started releasing novel items in it. For instance,
- In November 2023, GE HealthCare introduced MyBreastAI Suite to support clinicians with breast cancer detection and improved workflow productivity. The all-in-one AI platform is optimized for mammography and seamlessly integrates artificial intelligence (AI) applications from iCAD to aid clinicians in breast cancer detection and breast density assessment & notifications
- In September 2023, Siemens Healthineers presented Mammomat B.brilliant, a new mammography system with wide-angle tomosynthesis. The new system offers a unique combination of speed with high depth resolution and area resolution. It delivers high-quality 3D images in just five seconds
Initiatives and Awareness Campaigns Fuel the Demand for Breast Imaging Market
Breast cancer is one of the top causes of cancer deaths in women. It disproportionately affects women from low- and middle-income nations. To reduce the disease’s burden, many efforts and awareness campaigns are being implemented throughout the world, which are projected to drive the worldwide breast imaging market. For instance,
- In 2021, the World Health Organization (WHO) launched the Global Breast Cancer Initiative (GBCI). The initiative’s objective is to reduce global breast cancer mortality by 2.5% per year, thereby averting 2.5 million breast cancer deaths globally by 2040. Some of the ways to achieve this ambitious target are to diagnose at least 60% of invasive breast cancers at an early stage (Stage I or II), have complete evaluation, imaging, and pathology of women who are suspected to have breast cancer within 60 days, and comprehensively treat at least 80% of women with breast cancer
- To increase awareness about breast cancer and to promote screening and prevention of the disease, October has been designated as Breast Cancer Awareness Month
Growing Occurence of Breast Cancer Fuels the Global Breast Imaging Market
Breast cancer is becoming more common in both developed and developing countries, driving up demand for improved early detection tools. Due to the increasing number of occurrences, governments throughout the globe are highlighting the need of early breast cancer screening. In a recent study, experts from the International Agency for Research on Cancer (IARC) and partner institutions anticipate that by 2040, the breast cancer burden would rise to more than 3 million new cases per year (a 40% increase) and more than 1 million fatalities per year (a 50% increase). Breast cancer is the most often diagnosed cancer kind, accounting for one in every eight cancer cases worldwide. An expected rise in the burden of breast cancer is likely to drive the breast imaging market globally.
Competitive Landscape Analysis of the Breast Imaging market
Some of the key players operating in the market include Hologic, Philips, Siemens, GE Healthcare, Koning Health, Canon Medical Systems, Fujifilm, SonoCiné, among others.
Organic and Inorganic Growth Strategies Adopted by Players to Establish Their Foothold in the Breast Imaging Market
In order to increase their market share, businesses in this industry are implementing both organic and inorganic development tactics, such as introducing new goods and services, purchasing similar businesses, and forming partnerships. For instance,
- In December 2022, QT Imaging and GigCapital5 entered into a business combination agreement to bring breast and full-body imaging solutions to the public markets. In September 2022, QT Imaging received FDA 510(K) clearance for its QT Imaging Breast Scanner
- In November 2022, iCAD, Inc. entered into a strategic development and commercialization agreement with Google Health to integrate its artificial intelligence (AI) technology into iCAD’s portfolio of breast imaging AI solutions
Because of the launch of new ionizing breast imaging technologies, an increase in breast cancer initiatives and awareness campaigns, potential growth opportunities in emerging markets, and aggressive organic and inorganic growth strategies adopted by the players, the breast imaging market is anticipated to gain even more momentum in the years to come.
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