The global breast imaging technologies market is growing significantly due to technological advancement in the detection of breast cancer in the industry. Massive unexplored market in breast imaging technologies industry of developing economies are creating ample opportunities for the breast imaging technologies market to grow at a considerable rate in the coming years.
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The advanced research and development facilities and new product developments by the companies are supporting to address the demand for the breast imaging technologies industry. However, strict regulatory approval procedures, and unfavorable reimbursement policies in the developing countries are posing a challenge for the growth of the breast imaging technologies market.
Breast cancer is the most common cancer in women. According to International Agency for Research on Cancer (IARC) and World Health Organization (WHO), globally, approximately 1.7 million new cases of breast cancer were diagnosed in 2012. As the incidence of breast cancer is increasing significantly, development of improved technology with less radiation exposure is also expected to support the growth of the breast imaging technologies market.
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Geographically, North America will be leading the global breast imaging technologies market in the coming years due to technological advancement in breast imaging, rising awareness of early detection of breast cancer and increasing government initiatives and funding in research and product innovations in the region. Moreover, Asia-Pacific is the fastest growing region in the global breast imaging technologies market. The major reasons for the fastest growth in the region are increasing healthcare expenditure, increasing incidence and prevalence of breast cancer cases, increasing government initiatives and investment in breast imaging technologies, and improving healthcare infrastructure in the region. Moreover, the breast imaging technologies market is growing due to increasing awareness about women health in the emerging countries, such as India and China, of Asia-Pacific region.
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Some of the companies operating in the breast imaging technologies market are Toshiba Corporation, Aurora Imaging Technologies, Dilon Technologies, Inc., Gamma Medica, Inc., Sonocine, Inc., Siemens Healthcare, Philips Healthcare, GE Healthcare, Dune Medical Devices, U-Systems, Inc., and Hologic, Inc.