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Breast Imaging Devices Global Market Report 2021: COVID 19 Growth And Change to 2030

Breast Imaging Devices Global Market Report 2021: COVID 19 Growth And Change to 2030

  • May 2021
  • 175 pages
  • ID: 6071099
  • Format: PDF
  • The Business Research Company

Summary

Table of Contents

Major players in the breast imaging devices market are Siemens Healthcare, GE Healthcare, Dilon Technologies Inc., Hologic, Inc., Gamma Medica Inc., Fujifilm Holdings Corporation, SonoCine Inc, Philips Healthcare, Toshiba Corporation, and Aurora Imaging Technology Inc.

The global breast imaging devices market is expected to grow from $3.461 billion in 2020 to $3.754 billion in 2021 at a compound annual growth rate (CAGR) of 8.5%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $6.091 billion in 2025 at a CAGR of 13%.

The breast imaging devices market consists of sales of breast imaging devices and related services by entities (organizations, sole traders, and partnerships) that manufacture breast imaging devices.Breast imaging devices are medical devices used in the diagnosis of medical conditions related to the breast.

Some of the breast imaging processes include mammography, MRI, and ultrasound.

Major players operating in breast imaging devices market are undertaking various strategic initiatives such as the launch of technologically advanced or innovative products and product portfolio expansion, which is likely to be a leading trend in the breast imaging market.Various companies are introducing new advanced devices in the market to attract a large customer base and maintain their position in the competitive business environment.

For instance, in October 2018, GE Healthcare, a USA-based company engaged in manufacturing and sales of diagnostic imaging agents and radiopharmaceuticals used in medical imaging procedures, launched the Invenia Automated Breast Ultrasound (ABUS) 2.0 in the USA. The device is an ultrasound supplemental breast screening technology designed particularly for detecting cancer in dense breast tissue. Moreover, in July 2018, Hologic, Inc., a USA-based medical technology company, introduced Viera portable breast ultrasound system, a handheld device that delivers high-quality imaging to perform guided interventions in the USA and Europe.

The breast imaging devices market covered in this report is segmented by product type into tomosynthesis; breast ultrasound; breast MRI; mammography; nuclear imaging; others. It is also segmented by technology into ionizing; non ionizing, and by end user into hospitals and clinics; breast care centers; diagnostic imaging centers.

In June 2019, Hologic, Inc., a USA-based innovative medical technology company focused on improving women’s health and well-being through early treatment and diagnosis, announced the acquisition of SuperSonic Imagine for an amount of $85 million. With the acquisition of SuperSonic Imagine, Hologic, Inc. aims to gain entry in cart-based breast ultrasound technology used to screen women with dense breast tissue. SuperSonic Imagine is a France-based company specialized in ultrasound medical imaging including breast imaging devices.

The rising prevalence of breast cancer is anticipated to contribute to the breast imaging devices market’s growth.A growing number of hormone replacement therapy (HRT), hormonal imbalances, menopause, and various reproductive disorders have significantly increased the risks of breast cancer.

According to the World Health Organization (WHO), breast cancer is the most common cancer in women, impacting 2.1 million women annually. Breast cancer causes the highest number of cancer-related deaths among women. In 2018, approximately 627,000 women died from cancer, which is about 15% of all cancer deaths across the globe. Thereby, the increasing prevalence of breast cancer is expected to boost the demand for detection and diagnosis equipment including breast imaging devices over the forthcoming years.

High cost associated with breast imaging devices is expected to limit the growth of the market in the near future.The cost of digital mammography systems varies for different models and companies.

For instance, the cost of the 2D model’s mammography systems ranges between $65,000 to $95,000 for GE Healthcare and Hologic, Inc products.Whereas 3D models of the same company’s range between $90,000 to $200,000.

In addition to this, the premium 3D models of GE Healthcare and Hologic Inc. are priced between $1,40,000 to $2,75,000. Therefore, the high cost of breast imaging systems is a major concern for end-users, which is predicted to hinder the growth of breast imaging devices market over the forecast period.

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