The increasing awareness about breast health is expected to contribute positively to the growth of the market, says Fortune Business Insights in a report, titled “Market Size, Share and Global Trend By Imaging Modality (Breast MRI Mammography, Breast Tomosynthesis, Galactography, Scinti-mammography), By End User (Hospitals, Ambulatory Surgery Centres, Diagnostic Centres, Cancer Care Centres), Geography Forecast till 2026” The growing cases of breast cancer around the world is predicted to accelerate the growth of the market.
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According to the report, the increasing emphasis on early diagnosis of breast abnormalities is predicted to enable healthy growth of the breast imaging market. As per the American Cancer Society, from 1989 to 2015, the U.S. witnessed 39% reduction in the mortality rate of patients suffering from breast cancer and in 2017, there were an estimated 3.1 million breast cancer survivors in the U.S. These statistics are a result of early diagnosis of breast abnormalities. The rising government initiatives and reimbursement policies is expected to create growth opportunities for the market in the forthcoming years.
Some of the Major Companies in the Market are:
- GENERAL ELECTRIC COMPANY
- Siemens Ltd.
- Koninklijke Philips N.V.
- Hologic Inc.
- FUJIFILM Holdings Corporation
- Dilon Technologies, Inc.
- CMR Naviscan
- Thorlabs, Inc.
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Escalating Demand for Superior Breast Diagnosis to Facilitate Growth Process
The increasing government policies for educating women about breast health and implications is expected to accelerate the breast imaging market growth. For instance, In October 2018, DenseBreast-info.org broadcasted three informational videos worldwide to educate women about breast density and its implications on breast health. Furthermore, the growing demand for enhanced breast diagnosis along with improved care processes, is predicted to favor the growth of the market during the forecast period.
The increasing incidence of breast cancer is likely to fuel demand for breast imaging in the forthcoming years. According to BREASTCANCER.ORG, about 1 in 8 U.S. women (about 12%) will develop invasive breast cancer over the course of their lifetime. Furthermore, in 2019, an estimated 268,600 new cases of invasive breast cancer are expected to be diagnosed in women in the U.S., along with 62,930 new cases of non-invasive (in situ) breast cancer. Besides, the prolonged life expectancy of cancer survivors due to proper treatment and accurate diagnosis are factors expected to boost the breast imaging market shares in the foreseeable future.
However, stringent government regulations and increased risk of radiation exposure are expected to hamper the growth of the global breast imaging market during the forecast period. Furthermore, higher acquisition and maintenance cost of breast imaging equipment is predicted to dampen the growth of the market in the forthcoming years.
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