The global breast imaging technologies market is a competitive market with a number of market players with niche technologies. As of 2014, the global breast imaging technologies market is estimated to be dominated by GE Healthcare (U.K.), Hologic, Inc. (U.S.), Philips Healthcare (Netherlands), and Siemens Healthcare (Germany). New product launches and partnerships, agreements, collaborations, and joint ventures are the major strategies adopted by most market players to achieve growth in the breast imaging technologies market.
Aurora Imaging Technology, Inc. (U.S.), Dilon Technologies, Inc. (U.S.), Dune Medical Devices (U.S.), Gamma Medica, Inc. (U.S.), GE Healthcare (U.K.), Hologic, Inc. (U.S.), Koninklijke Philips N.V. (Netherlands), Siemens AG (Germany), SonoCine, Inc. (U.S.), and Toshiba Corporation (Japan) are the major players in the global breast imaging technologies market.
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The global breast imaging technologies market is estimated to grow at a CAGR of 8.1% from 2014 to 2019. Although the mature markets (such as the U.S., Germany, and the U.K.) hold larger shares in the breast imaging technologies market, the Asia-Pacific region is expected to grow at the highest CAGR of 10.2% in the forecast period. The growth of the breast imaging technologies market is driven by factors such as public and private initiatives to increase awareness about early breast cancer screening, technological developments, growing demand for the use of minimal or negligible doses of radiation, and increasingly aging population.
However, factors such as side effects of radiation exposure and high installation cost of breast imaging systems are restraining the growth of this market. Moreover, emerging economies such as India and China are creating growth opportunities for the breast imaging technologies market in these regions.
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In this report, the global breast imaging technologies market has been broadly classified into ionizing and non-ionizing technologies. Ionizing technology segment is further categorized into analog mammography, full-field digital mammography (FFDM), 3D breast tomosynthesis, positron emission tomography/computed tomography (PET/CT), molecular breast imaging/breast-specific gamma imaging (MBI/BSGI), cone beam computed tomography (CBCT), and positron emission mammography (PEM). The non-ionizing technology segment is classified as breast MRI, breast ultrasound, optical imaging, whole breast ultrasound, and breast thermography.
The non-ionizing technologies market segment is estimated to grow at the highest CAGR from 2014 to 2019. Factors such as technological advancements in non-ionizing breast imaging modalities, rising need for lower or negligible dose of radiation exposure, and non-invasive breast screening through non-ionizing breast imaging technologies are driving the growth of this market.
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Geographically, North America (comprising the U.S. and Canada) is estimated to command the largest share of 44.6% of the global breast imaging technologies market in 2014, followed by Europe. The breast imaging technologies market in the North America is primarily driven by factors including aging population, technological advancements in breast imaging modalities, and rising demand for use of minimal or negligible doses of radiation.
However, strict federal regulations, false cancer detection issues, and side effects of ionizing radiations are hampering the growth of the breast imaging technologies market in this region. The Asia-Pacific region is estimated to grow at the highest CAGR of 10.2% from 2014 to 2019. Factors such as large population base, rising incidences of breast cancer, and increasing efforts by government and private organizations to increase healthcare awareness are propelling the growth of the breast imaging technologies market in the Asia-Pacific region.
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