Signify Research, based in the United Kingdom, has recently published an important market research report entitled “Breast Imaging – World Market – 2019.” The authors were Imogen Fitt and Steve Holloway who blended primary data from in-depth interviews of technology vendors – including CapeRay – and healthcare providers to create a balanced view of market trends. The scope of their report encompassed mammography, both full-field digital mammography (FFDM) and digital breast tomosynthesis (DBT), as well as hand-held ultrasound (HHUS), automated breast ultrasound (ABUS), machine learning, standalone software, pre-screening and emerging diagnostic technologies. They considered not only the current state of the market, but also projected the future demand for breast imaging systems.
Currently, North America spends a little more than 50% of the total amount spent worldwide on mammography and breast ultrasound. Europe accounts for 20%, while China and the rest of Asia are each at 10%. In developing countries – especially those in the Asia Pacific region where women tend to have higher breast density – spending is anticipated to increase substantially.
As seen at left (© Signify Research), the mammography market will remain essentially flat between 2018 and 2023, with the Americas accounting for 58%, EMEA (Europe, Middle East and Africa) at 22% and Asia Pacific at 20%. The product mix will change, however, with the number of FFDM systems declining, while DBT systems will increase. Positive market trends include the introduction of screening programmes in emerging markets, whereas negative trends identified in the report are DBT reaching saturation in the USA, competitive pressure in key markets, and an increased focus on ultrasound imaging for dense breasts.
As seen below right (© Signify Research), the ultrasound market will experience significant growth between 2018 and 2023, with the Americas accounting for 36%, EMEA is at 23% and Asia Pacific at 41%. While conventional HHUS will see a fairly modest rise in systems sold, revenue generated from the sale of ABUS systems will increase threefold. Positive market trends include an increased awareness of breast density and more screening conducted in Asia Pacific markets, whereas from a negative point of view, some markets such as Europe are waiting for confirmation of the benefits of ABUS over HHUS.
Apart from the projected market trends in mammography and ultrasound, the Signify report also concluded: machine learning algorithms are set to experience the largest growth in revenue; pre-screening technologies such as piezoelectric and thermal imaging are unlikely to achieve significant growth for some time; while emerging diagnostic technologies such as breast CT and MRI will take at least five years before widespread adoption.