Breast Imaging Market to show a lucrative CAGR of 8.5% during the forecast period 2016 -2021

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The global Breast Imaging market is anticipated to grow at 8.5% CAGR from 2016 to 2021 and it is estimated that the global market was valued at USD 2.76 billion in 2016 and is expected to reach USD 4.15 billion by 2021.

In medicine, breast imaging is the representation or reproduction of a breast's form. There are various methods of breast imaging. Scintimammography is a type of breast imaging test that involves detection of cancer cells in the breasts of some women who have had abnormal mammograms, or for those who have dense breast tissue, post-operative scar tissue or breast implants, but is not used for screening or in place of a mammogram.

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The increasing incidences of breast cancer, the increasing awareness about the early diagnosis of breast cancer, and the growing number of investments to introduce technology upgrades in the present imaging systems are the preliminary factors that are anticipated to drive the market growth over the forecast period. Technological improvements in the breast imaging devices have led to the emergence of countries in the Asia-Pacific region, which are expected to generate high growth opportunities for the existent market players. Be that as it may, regulatory approval procedures, high system installation costs, health risks due to radiation exposure from the mammography machines, and an unfavorable reimbursement scenario in the developing countries are key factors hindering the market growth.

The global Breast Imaging market is segmented on the basis of Type. On the basis of Type, it is segmented into Pellets, Bales, and Cubes. On the basis of Application, it is segmented into Ionizing Technologies and Non-ionizing Technologies. The ionizing segment is further segmented into Mammography, Digital Mammography, 3D Mammography, MBI, PET-CT, CBCT, and PEM. The Non-ionizing segment is further sub-segmented into Breast Ultrasound, AWBU, Breast Thermography, Breast MRI, and Optical Imaging. The mammography segment accounted for the major share of the market due to the technological advancements in the mammography instruments, for instance, the introduction of the portable and digital mammography instruments are expected to further aid the market growth. The digital mammography equipment provides advantages such as reduced examination times and space requirement for data storage consequently leading the tomography segment to witness lucrative growth as compared to other imaging systems.

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Based on geography, the market is segmented into North America, Asia Pacific, Europe, Latin America and Middle East and Africa. North America held the largest market share due to the increased expenditure in the development of futuristic technologies coupled with the rising awareness amongst patients. Asia Pacific is expected to register the highest CAGR in the coming years. Acquisitions and new product development endeavors in the growing economies of India and China are expected to further boost the growth of the breast imaging market over the forecast period. In addition to the growth in mature markets, the emerging economies such as MEA and Latin America are also expected to witness lucrative growth over the forecast period. Factors such as improvements in the healthcare infrastructure, the rising investment, and the multi-national industrial growth within this region along with the increase in the number of government initiatives to raise awareness are driving the market growth in the developing regions.

Some of the key players dominating the market are Hologic, Inc., GE Healthcare, Siemens Healthcare, Philips Healthcare, Fujifilm Holdings Corporation Gamma Medica, Inc., Toshiba Corporation, Sonocine, Inc., Aurora Imaging Technology, Inc., and Dilon Technologies, Inc.

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