The global market for breast imaging technologies is expected to reach $3 billion by 2019, with a compound annual growth rate (CAGR) of 8.1% between 2014 and 2019, according to a new report from research firm MarketsandMarkets.
The market is categorized into ionizing and nonionizing technologies, the company said. The ionizing category is further delineated into film-screen mammography, digital mammography, 3D digital breast tomosynthesis, PET/CT, molecular breast imaging, conebeam CT, and positron emission mammography. The nonionizing category includes MRI, breast ultrasound, optical imaging, whole-breast ultrasound, and thermography.
Market growth will be driven by growing public and private initiatives to increase awareness about early breast cancer screening and the aging of the U.S. population, according to the firm. High investment and installation costs will restrict the market's growth, although MarketsandMarkets predicts India and China will offer new opportunities for companies providing breast imaging technology.
As of 2014, North America is estimated to hold the largest share of the global breast imaging market, followed by Europe. However, the Asia-Pacific market is expected to grow at the highest CAGR of 10.2% from 2014 to 2019, MarketsandMarkets said.
