Navigating the Future: Molecular Breast Imaging Market En Route to US$ 1.4 Billion by 2033

The global rise in breast cancer cases has raised the need for effective diagnostic and screening techniques. This aspect propelled the global molecular breast imaging market to reach US$ 846.7 million in 2022, and it is projected to rise at a 4.8% compound annual growth rate (CAGR) from 2023 to 2033.

Molecular breast imaging (MBI) is a novel nuclear medicine approach that provides high-resolution functional pictures of the breast using tiny semiconductor-based -cameras in a mammographic configuration. MBI is a reasonably straightforward procedure that may be completed within 5 minutes after injection. MBI offers a high sensitivity for identifying tiny breast lesions, with an overall sensitivity of 90% in individuals with suspected breast cancer, according to studies.

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Tumor detection is determined on tumor size rather than tumor type. MBI and breast-specific imaging studies have showed equal sensitivity to breast MRI. Efforts have been undertaken over the last decade to improve existing imaging techniques, such as digital tomosynthesis and 3D whole-breast ultrasonography, or to create novel imaging modalities, such as breast CT, vibro-acoustography, or positron emission mammography (PEM).

In general, the market for molecular breast imaging is likely to expand more in the coming next years. This market provides people with a cheap and rapid way to diagnose illness.

Key Takeaways:

By modality, dual head camera accounted for prominent share in the global market, with a valuation of US$ 519.9 Billion in 2022. Dual-head molecular breast imaging captures images in craniocaudal, medial, and lateral regions.
With a valuation of US$ 480.1 Million in 2022, the screening application accounted for a significant portion of the global market. MBI is a sensitive imaging technique for screening breast cancer in dense breast tissue, with a lower false-positive rate, improving early detection and potentially saving lives.
Hospitals held the prominent end user market share in the global market in 2022, growing rapidly with CAGR of 4.3% in predicted period. Hospitals use advanced imaging for accurate breast cancer detection, conducting clinical trials and research.
North America maintained the predominant regional position in the global molecular breast imaging market in 2022, with a revenue share of 34.5%. MBI offers low false-positive rates, good recall, quick interpretations, low cost, minimal contraindications, and strong negative predictive value, making the US a prominent market for molecular breast imaging in North America.

Market Competition:

The molecular breast imaging market has several players making it a highly competitive market for players. Leading players constantly look out new tactics to maintain their foothold on the global market share. These include collaborations with healthcare institutes for new research programs and mergers or divestment to continue strengthening their portfolio among many others.

In April 2023, Canon Inc., Canon Medical Systems Corporation, and the National Cancer Center Japan conducted a clinical research using the first Japanese-produced PCCT system to develop new diagnostic methods, improving radiation exposure, pathological detectability, and precise identification of body materials.

In November 2022, GE HealthCare, a spin-off, showcases 40 AI-driven solutions to address healthcare challenges, including next-generation MRI, SIGNA Experience platform, Revolution Apex CT, and Theranostics' precision prostate cancer care. These solutions aim to scan more patients with less waste, improve patient outcomes, and enhance patient quality of life.

Key Companies:

Koninklijke Philips N.V. (Netherlands) Hitachi Ltd. (Japan) Siemens Healthcare GmbH (Germany) CANON MEDICAL SYSTEMS CORPORATION (Japan) General Electric (US) Aspect Imaging Ltd (Israel) Bruker (US), Aurora Health Care (US) FONAR Corp. (US) ESAOTE SPA (Italy) Neusoft Corporation (China) TOSHIBA CORPORATION (Japan) Sanrad Medical Systems Private Limited (India) FUJIFILM Holdings Corporation (Japan) ONEX Corporation (Canada) Hologic, Inc. (US) Shenzhen Mindray Bio-Medical Electronics Co., Ltd. (China) Imaging Diagnostic Systems, Inc. (US) Agfa-Gevaert Group (Belgium) Koning Health (China)

Key Market Segments:

By Modality: