Albany, New York (PRWEB) May 19, 2014
Breast Imaging Market was valued at USD 1.84 billion in 2012 and is expected to grow at a CAGR of 12% from 2013 to 2019 to reach an estimated value of USD 4.06 billion in 2019. Rising incidence of breast cancer is one of the critical areas of concern in the global healthcare industry. Lack of awareness about breast cancer and benefits of early detection of the condition are the major factors that governments in developing nations are taking into consideration to control the morbidity rate and reduce the mortality rate of breast cancer. Various governments are taking initiatives such as funding breast cancer screening in the respective countries, educating and spreading awareness, and arranging free breast screening campaigns to encourage women for breast cancer screening. Such governmental and non-governmental initiatives will result in increased awareness about breast cancer, and thereby, increase the rate of breast cancer screening worldwide.
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The global breast imaging market is segmented on the basis of type of technologies used such as mammography, breast MRI, breast ultrasound, nuclear imaging, tomosynthesis, and others. Most of the international breast cancer organizations and regulatory authorities recommend mammography as the first line screening method for breast cancer, and thus, this segment occupied the largest market share in 2012. It is expected that the global market for mammography will reach USD 1,935.9 million in 2019 with the market growing at CAGR of 10.1% from 2013 to 2019. Though mammography is followed by breast MRI or ultrasound in most of the cases, these technologies are not considered as standard substitutes for mammography. Apart from breast MRI and ultrasound, various technologies are approved by regulatory authorities such as the U.S. Food and Drug Administration (FDA) and the European Union. Moreover, factors such as radiation exposure and associated hazards, and lack of safety data for use of technologies such as breast thermography for screening breast tissue, are limiting the adoption rate of these technologies in the breast imaging market.
Other technologies such as tomosynthesis and nuclear imaging, which includes positron emission tomography (PET) and single photon imaging (scintimammography), will experience rapid growth in the near future. It is expected that the market for tomosynthesis will grow at a CAGR of 18.1%during the given period of forecast.
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Geographically, North America dominated the global breast imaging market with a share of 32.6% in 2012. Some of the major growth drivers for the North American breast imaging market include highly developed healthcare infrastructure, well established regulatory framework and high rates of implementation of guidelines by regulatory authorities. The Asia-Pacific region is expected to be a lucrative market for breast imaging due to the rapidly growing medical tourism industry in the region and improvement in the healthcare infrastructure. Some of the key market players contributing to this industry include GE Healthcare Ltd., Philips Healthcare, Siemens Healthcare Corporation, FUJIFILM SonoSite, Inc. and others.
The global breast imaging market is segmented as follows:
Breast Imaging Market, by Technology
Breast Imaging Market, by Geography
Browse Global Breast Imaging Market Report with Full TOC: http://www.transparencymarketresearch.com/breast-imaging-technologies.html