Global Breast Imaging Market Will Grow to $5 Billion by 2017, According to New Report
The global breast imaging market will grow to approximately $5 billion by 2017 at a CAGR of 15.37% from 2012, according to a new report by marketandmarkets.com. Growth will be driven by new technologies and emerging markets in Asia-pacific and Middle East. America is the major market for breast imaging equipment followed by Europe because of the rising number of breast cancer cases and increasing awareness about early breast cancer detection. Emerging economies such as Asia-pacific and Middle-East are the future drivers of breast imaging market. Digital Mammography is the largest segment of the market, but modalities such as breast MRI scans, breast ultrasound and CTs are expected to improve dramatically. According to the report, full-field digital mammography, 3D-breast tomosynthesis, optical imaging and molecular breast imaging techniques are becoming more widespread in breast cancer screening and diagnosis. According to marketandmarkets, technology innovations to reduce false positives and increase safety and efficiency, with modality upgrades and regulatory approvals, will drive growth for the next five years. However, one major downside to newer modalities is their cost in comparison with conventional breast imaging. Inadequate reimbursement policies may hinder growth, but this will likely improve as the technology becomes more available across the globe.