PORTLAND, Oregon and PUNE, India, January 18, 2017 /PRNewswire/ -- A new report published by Allied Market Research, titled, "Breast Imaging Technologies Market by Type: Global Opportunity Analysis and Industry Forecast, 2014-2022," projects that the global breast imaging technologies market size was valued at $2,544 million in 2015 and is expected to reach $4,502 million by 2022, growing at a CAGR of 8.4% from 2016 to 2022. North America and Europe together accounted for over three-fourths market share in 2015. Ionizing breast imaging technology is expected to maintain its lead throughout the forecast period.
Summary of the Breast Imaging Technology Market Report can be accessed on the website at:
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The market is expected to be driven by the rise in incidence of breast cancer globally, favorable reimbursement policies, and growth in geriatric population base. Moreover, technological advancements, such as 3D mammography, which help in the detection of breast cancer in women with dense breast tissues, boost the market growth. However, high cost of these imaging modalities and stringent regulatory approval processes are set to restrict the market growth.
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According to Hemali Narkhede, Manager, Healthcare Research at Allied Market Research, "Proactive initiatives by healthcare organizations to raise awareness are set to increase the demand for breast imaging technologies worldwide." "These initiatives help individuals to gain information about the availability of imaging technologies, which can be used for the screening and diagnosis of breast cancers, thus boosting the market growth," she further added.
Ionizing breast imaging technologies market accounted for major share of the global market in 2015, owing to their ability to detect breast cancer in early stages, thus increasing the chances of survival. Moreover, advancements in breast imaging tools facilitate faster interpretation of breast tissue and generate less false positive results as compared to MRI, which further accelerates the market growth. Non-ionizing imaging technologies are projected to grow with the highest CAGR, due to the introduction of better imaging modalities such as automated whole breast ultrasound system (ABUS). In addition, unlike ionizing breast imaging technologies, these techniques use infrared radiations, reducing the risk of developing radiation-induced cancer, which is thus anticipated to witness an increased demand in future.