WiseGuyReports.com adds “Global Breast Imaging Devices Market Research Report 2020 Analysis and Forecast 2030” reports to its database.

PUNE, MAHARASTRA, INDIA, November 4, 2020 /EINPresswire.com/ -- Breast Imaging Devices Market:

Executive Summary

The global breast imaging devices market is expected to decline from $3.51 billion in 2019 to $3.46 billion in 2020 at a compound annual growth rate (CAGR) of -1.45%. The decline is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and other commercial activities. The entire supply chain has been disrupted, impacting the market negatively. The market is then expected to recover and reach $5.07 billion in 2023 at a CAGR of 13.56%.

The breast imaging devices market consists of sales of breast imaging devices and related services by entities (organizations, sole traders, and partnerships) that manufacture breast imaging devices. Breast imaging devices are medical devices used in the diagnosis of medical conditions related to the breast. Some of the breast imaging processes include mammography, MRI, and ultrasound.

North America was the largest region in the breast imaging devices market in 2019. The breast imaging devices market in Asia Pacific is expected to be the fastest-growing during the forecast period.

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In June 2019, Hologic, Inc., a USA-based innovative medical technology company focused on improving women's health and well-being through early treatment and diagnosis, announced the acquisition of SuperSonic Imagine for an amount of $85 million. With the acquisition of SuperSonic Imagine, Hologic, Inc. aims to gain entry in cart-based breast ultrasound technology used to screen women with dense breast tissue. SuperSonic Imagine is a France-based company specialized in ultrasound medical imaging including breast imaging devices.

The breast imaging devices market covered in this report is segmented by product type into tomosynthesis; breast ultrasound; breast MRI; mammography; nuclear imaging; others. It is also segmented by technology into ionizing; non ionizing, and by end user into hospitals and clinics; breast care centers; diagnostic imaging centers.

High cost associated with breast imaging devices is expected to limit the growth of the market in the near future. The cost of digital mammography systems varies for different models and companies. For instance, the cost of the 2D model’s mammography systems ranges between $65,000 to $95,000 for GE Healthcare and Hologic, Inc products. Whereas 3D models of the same company’s range between $90,000 to $200,000. In addition to this, the premium 3D models of GE Healthcare and Hologic Inc. are priced between $1,40,000 to $2,75,000. Therefore, the high cost of breast imaging systems is a major concern for end-users, which is predicted to hinder the growth of breast imaging devices market over the forecast period.

Major players operating in breast imaging devices market are undertaking various strategic initiatives such as the launch of technologically advanced or innovative products and product portfolio expansion, which is likely to be a leading trend in the breast imaging market. Various companies are introducing new advanced devices in the market to attract a large customer base and maintain their position in the competitive business environment. For instance, in October 2018, GE Healthcare, a USA-based company engaged in manufacturing and sales of diagnostic imaging agents and radiopharmaceuticals used in medical imaging procedures, launched the Invenia Automated Breast Ultrasound (ABUS) 2.0 in the USA. The device is an ultrasound supplemental breast screening technology designed particularly for detecting cancer in dense breast tissue. Moreover, in July 2018, Hologic, Inc., a USA-based medical technology company, introduced Viera portable breast ultrasound system, a handheld device that delivers high-quality imaging to perform guided interventions in the USA and Europe.

The rising prevalence of breast cancer is anticipated to contribute to the breast imaging devices market’s growth. A growing number of hormone replacement therapy (HRT), hormonal imbalances, menopause, and various reproductive disorders have significantly increased the risks of breast cancer. According to the World Health Organization (WHO), breast cancer is the most common cancer in women, impacting 2.1 million women annually. Breast cancer causes the highest number of cancer-related deaths among women. In 2018, approximately 627,000 women died from cancer, which is about 15% of all cancer deaths across the globe. Thereby, the increasing prevalence of breast cancer is expected to boost the demand for detection and diagnosis equipment including breast imaging devices over the forthcoming years.

Major players in the breast imaging devices 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.

Continuous…

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NOTE : Our team is studying Covid19 and its impact on various industry verticals and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.

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