The breast imaging market is projected to grow at a CAGR of 8.93%
The breast imaging market is projected to grow at a CAGR of 8.93% to reach US$10.818 billion by 2025, from US$6.475 billion in 2019.
Knowledge Sourcing Intelligence announces the publication of a new report onGlobal Breast Imaging Marketfrom 2020 to 2025 to their offering.
Breast imaging includes range of equipment to detect, screen and determine the location of tumor, lesions, cysts and other breast-related infections. It has various procedures such as mammography, breast biopsy, ultrasound, Magnetic Resonance Imaging (MRI) and tactile imaging. The advantage and key driver are that with the aid of procedures it can detect the diseases at the earliest and most treatable stage. The procedures are considered to be non-invasive, safe and to cause minimum discomfort to the patients.
Increase in the number of cases of breast cancer and other breast-related diseases such as infection, fibro cysts and lesion are contributing to the growth of the breast imaging market. Breast Cancer is the primary factor of the growth in the demand of the market. The disease of breast cancer is anticipated to rise along with the increasing lifestyle change in the consumers and is also causing the decrease in the duration of the breast feeding especially in the developed countries. According to the report by UNICEF, breast cancer is the most common cancer observed in the women in England, annually around 41,000 cases of the women are diagnosed with breast cancer. Thus, with the rise in the number of cases, the demand for the breast imaging products is anticipated to rise over the forecasted period.
Besides women, the men are also being affected by the breast cancer. According to the National Cancer Foundation (NBCF), breast cancer is the second most common type of cancer globally that accounts for 10.9% of cancer cases in both men and women. According to the NBCF, 1700 cases of breast cancer in men is recorded annually.
Many companies are educating the consumers through corporate social responsibility about the health of the breast and preventive measures that must be taken. For instance, GE Healthcare had launched a commercial for the awareness regarding the breast density and the effect on the screening techniques. Government is also introducing awareness programs and are investing in the research and development in the field of breast cancer. For instance, The National Cancer Institute of the USA invested around $559 million on the research of breast cancer in 2013, in the same year the government of United Kingdom launched the campaign ‘Be clear on Cancer’ to spread awareness regarding early diagnosis, risk factors and preventive measure. The rise in the awareness is boosting the demand of the breast imaging market.
The breast imaging market is witnessing technological advances, for instance, the digital mammogram, electrical impedance imaging, molecular breast imaging and tomosynthesis are boosting the demand. The segment of technology is classified as ionizing technology and non-ionizing technology. The ionizing technology included analog mammography, electric impedance tomography, full-field digital mammography, position emission mammography and Position Emission Tomography & Computed Tomography (PET-CT) among others. Whereas, non-ionizing segment includes breast MRI, breast ultrasound, breast thermography and automated whole-breast ultrasound. Thus, the technological innovations along with the rising healthcare expenditure, growing disposable income and rise in the government initiatives is improving the cancer screening and diagnosis and is therefore boosting the market growth of breast imaging in the forecasted period.
As a part of the report, the major players operating in theglobal sauces and dips market, which have been covered areTrivitron Healthcare, Caperay, Candelis, Inc., Telerad Tech, Hologic, Inc., Koninklijke Philips N.V., Hitachi, Ltd., General Electric Company and Siemens Healthcare Private Limited
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