Breast Imaging Market To Witness Growth Based On The Rising Base Of The Geriatric Population Till 2024:Grand View Research,inc.
The global breast imaging market is expected to reach USD 7.3
billion by 2024, according to a new report by Grand View Research, Inc. The
increasing incidences of breast cancer coupled with the continual product
improvements being launched and the numerous R&D innovation initiatives
being undertaken in the field of cancer are expected to collectively boost the
growth of the market over the forecast period.
In 2012, the WHO estimated that
around 53.0% of the global women population (1.8 billion women) is anticipated
to suffer from breast cancer over their lifespan. This alarmingly rising rate
is expected to be the preliminary driver for this market over the forecast
period.
The rising base of the geriatric
population is another high impact rendering driver of the breast imaging
market. A study by the NCBI (National Center for Biotechnology Information)
stated that the incidence of breast cancer is higher in patients above the age
group of 45.
Increasing expenditure on R&D
coupled with government funding are the other vital factors expected to trigger
market growth over the forecast period. In 2013, the National Institute of
Health, in the U.S. provided a grant amounting to USD 5.6 billion to conduct
research on breast cancer. Digital mammography is one of the technologies
gaining popularity as compared to other technologies, which is expected to
positively reinforce this market’s growth.
However, the high cost of the
existing imaging systems coupled with the stringent regulatory policies
governing the approval of new products and marketing are predicted to slowdown
growth.
North America breast imaging market, by technology,
2013-2024, (USD Million)
Browse full research report on Breast
Imaging Market Analysis:
Further key findings from the report suggest:
- The 3D
tomosynthesis segment is identified as the fastest growing segment. This
technology offers enhanced efficiency and higher diagnostic accuracy in
comparison to other available technologies, which is expected to aid
market growth.
- North America
is likely to dominate throughout the forecast period with a revenue share
of over 30.0% by 2024.Government initiatives including the precision
medicine initiative, started by President Obama in 2015, promotes the
development of personalized medicine, which is anticipated to foster
market growth.
- Asia Pacific
is anticipated to grow at the fastest rate of12.0% over the forecast
period. The Increasing number of investments in the healthcare sector
coupled with the rising awareness of breast cancer and other associated
conditions is anticipated to propel the market growth in this region.
- Some major
players of the 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.
- In order to
gain a competitive advantage in the market, the key industry players are
adhering to mergers, acquisitions and collaborative agreements. For
instance, in January 2016, Gamma Medica, Inc. entered into a contract with
Alpha Imaging Technology Corp. for the commercialization of its new
product, Luma GEM.
For more information: http://www.grandviewresearch.com
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