Breast Imaging Technologies Market Size

Breast Imaging Technologies Market size was valued at USD 4.7 Billion in 2023 and is poised to grow from USD 5.1 Billion in 2024 to USD 9.77 Billion by 2032, growing at a CAGR of 8.6% during the forecast period (2025-2032).

The market is fragmented in nature. The prominent players operating in the market are constantly adopting various growth strategies in order to stay afloat in the market. Product launches, innovations, mergers, and acquisitions, collaborations and partnerships, and intensive R&D are some of the growth strategies that are adopted by these key players to thrive in the competitive market. The key market players are also constantly focused on R&D in order to supply industries with the most efficient and cost-effective solutions. 'Hologic, Inc. ', 'GE Healthcare ', 'Siemens Healthineers ', 'Fujifilm Holdings Corporation ', 'Koninklijke Philips N.V. ', 'Canon Medical Systems Corporation ', 'Carestream Health ', 'Planmed Oy ', 'Aurora Health Care ', 'CMR Naviscan Corporation ', 'SonoCine, Inc. ', 'General Medical Merate S.p.A. ', 'Delphinus Medical Technologies, Inc. ', 'Dilon Technologies, Inc. ', 'SuperSonic Imagine ', 'Micrima Limited ', 'Volpara Health Technologies ', 'QT Ultrasound ', 'Koning Corporation ', 'iCAD, Inc.'

The key factor that drives the industry growth includes the rising prevalence of breast cancer among women and increased demand for the early diagnosis and treatment of breast cancer. For instance, according to Breastcancer.org, approximately 281,550 new invasive breast cancer cases were detected in women in the United States in 2021. Furthermore, according to the same source, 1 in every 8 US women develops invasive breast cancer during her lifetime. Hence, an increase in the prevalence of breast cancer is likely to encourage the adoption of breast imaging technologies for the early diagnosis and treatment of breast cancer.

One of the key trends in the global breast imaging technologies market is the integration of advanced technologies such as artificial intelligence with breast imaging techniques. Artificial intelligence aids in the optimization of workflows for faster and more accurate detection. Radiologists can find more malignancies using artificial intelligence instead of analyzing a big amount of 3D screening data. The use of artificial intelligence in breast imaging is gaining traction around the world.

The Global Breast Imaging Technologies Market is segmented into North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. In 2022, the Asia-Pacific region is projected to hold the most substantial share of the market. The regional market is likely to be driven by the rising prevalence of breast cancer, rising healthcare spending, an increase in the number of breast cancer awareness initiatives, and significant government spending on breast cancer research studies in the emerging economies of the region such as China and India. According to GLOBOCAN 2018, Asia recorded a total of 911,014 new breast cancer cases in 2018, which is anticipated to increase to 229,650 by the end of 2030. Such increased prevalence of breast cancer cases is likely to encourage the adoption of various breast imaging technologies and hence contribute to the growth of the market during the forecast period.