Analysis of Potential Impact of COVID-19 on Breast Imaging Equipment Market

Breast imaging is a technique used to identify breast cancer. Breast imaging has been the innovative technique in radiology since the introduction of BI-RADS more than 20 years ago. Breast imaging are carried out by different imaging equipments, such as ultrasound equipment, mammography equipment, MRI equipment etc. Imaging equipments are different from each other based on different imaging technique. Mammography is the most accurate method in evaluating the entire breast. Mammography can detect lumps that are too small to be felt by doctor, as well as abnormal calcifications. Breast MRI is an advanced, noninvasive means of evaluating breast tissue uses powerful magnetic fields and advanced computer technology to produce specific images of the breast. Now a days all modern breast centers are dependent on two primary forms of anatomical breast imaging such as, x-ray mammography and ultrasound. Breast cancer occurs due to several factors such as, increasing age, exposure to radiation, obesity, alcohol consumption, family history etc. According to the World Health Organization, breast cancer is the most common cancer among women worldwide.

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Factors such as growing government funding for breast cancer treatment, rising incidence of breast cancer globally, growing awareness about breast cancer, rising geriatric population, a rising standard of living are the key fueling factors for breast imaging equipment market. The month of October is marked as a Breast Cancer Awareness month worldwide by World Health Organization to increase attention and support for the awareness, early detection and treatment as well as palliative care of this disease. Breast cancer occurs frequently in industrialized countries with western lifestyles but it is expected to grow at a higher rate in developing countries in near future. According to Siemens Medical Solutions USA, Inc., by 2018, the total number of women worldwide who qualify for breast cancer screening could reach around 250 million. New product launch, technological advancements in breast imaging modalities are another accelerating factors for global breast imaging equipment market. On the other hand high installation cost for breast imaging equipments and barely service affordability in developing countries may hinder the breast imaging equipment market growth.

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The breast imaging equipment market has been segmented by imaging type, by technology, end users, and geography. In terms of imaging type, the breast imaging equipment market is classified into mammography, ultrasound, magnetic resonance imaging (MRI) and others. In terms of technology breast imaging equipment market is classifies into ionizing technology and non-ionizing technology. In terms of end users, the market is classified into hospitals, women’s health center, ambulatory surgery centers and others.

Geographically, the breast imaging equipment market is classified into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.

North America dominates the breast imaging equipment market due to early adoption for disease diagnosis, technological advancement, large number of patient population due to unhealthy life style, developed economy etc. According to National Breast Cancer Foundation, Inc., each year it is estimated that over 252,710 women in the United States will be diagnosed with breast cancer and more than 40,500 will die. Factors such as increasing research & development for breast cancer, increasing alcohol consumption among European women population results in Europe as the second largest market for Breast Imaging Equipment. The market in the Asia Pacific region is expected to expand at a higher rate due to developing healthcare expenditure, government initiatives, increasing medical tourism, growing awareness among people etc.

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Major players operating in this market include Siemens Healthineers, General Electric Company, Fujifilm Holdings Corporation, Hologic, Inc., Dilon Technologies, Inc., and Samsung Medison Co., Ltd. among other significant players worldwide.

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