AI In Breast Imaging Market By Technology (Machine Learning, Deep Learning, Computer Aided Detection, Natural Language Processing), By Diagnostics (Screening, Diagnostics, Risk Assessment And Others), By End User (Hospitals And Clinics, Diagnostic Imaging Centers, Breast Care Centers And Other End Users), Region And Companies – Industry Segment Outlook, Market Assessment, Competition Scenario, Trends And Forecast 2024-2033

Report Overview

The Global AI In Breast Imaging Market size is expected to be worth around USD 5944.3 Million by 2033, from USD 451.6 Million in 2023, growing at a CAGR of 29.4% during the forecast period from 2024 to 2033.

AI has revolutionized the healthcare market by introducing an unmatched degree of efficiency and precision into medical processes and procedures, which has ultimately improved the quality of medical care delivered to the patients. This technology is being increasingly utilized by the medical professionals to analyze data and screen images. Particularly in the field of breast cancer this technology has been incremental in increasing likelihood of detection of cysts or cancer.

• According to American Cancer Society, breast cancer one of the most common cancers in the US, with over 1 in 3 new female patients every year.
• American Cancer Society predicted that breast cancer will be responsible for over 42250 fatalities in 2024 in the US alone.
• According to a research published in the Lancet Oncology journal, the use of AI in mammography screening increased the efficiency of the diagnostic process.

Key Takeaways

• The AI in Breast Imaging market generated a revenue of USD 451.6 Million in 2023 and is expected to reach USD 5944.3 Million with a CAGR of 29.4%.
• On the basis of technology, computer aided detection remained the most lucrative segment in 2023 with a market share of 35.1%.
• The screening segment contributed the most to the market by claiming a revenue share of 43.1%.
• Hospitals remained primary end-user of AI technology in Breast Imaging and commanded 53.2% of the market.
• Region wise, North America maintained its stronghold on the market by securing 45.5% of the total revenue.

Technology Analysis

As far as technology is concerned, the segments observed in the market are machine learning, deep learning, computer aided detection, and natural language processing. Among these, computer aided detection segment maintained its stronghold on the market with a market share of 39.1%. this dominance is credited to the diverse applications of the technology, especially in providing timely diagnostics to patients. Machine learning technology in breast imaging facilitates the identification of patterns and anomalies in imaging data that may not be visible to the human eye. This segment is driven by advancements in algorithm development and increasing volumes of imaging data. Machine learning models are continually refined through exposure to new data, potentially increasing their accuracy over time.

Deep learning, a sophisticated branch of machine learning, employs multi-layered neural networks to intricately process data, significantly boosting the detection of early-stage breast cancers. This technology’s capacity to identify subtle imaging patterns has led to its rapid adoption and growth within the sector. On the other hand, CAD systems assist radiologists by marking potential areas of concern on images, enhancing tumor localization accuracy. The integration of AI into CAD systems has heightened their reliability, fostering expansion as more AI-driven solutions gain regulatory approval.

Natural language processing (NLP) enhances breast imaging by extracting and analyzing information from radiology reports and patient records, improving the contextual understanding of imaging results. This technology supports streamlined documentation and structured reporting, elevating the precision and utility of radiological assessments in breast cancer screening programs. Despite the advancements, the market faces challenges such as high implementation costs, concerns over data privacy, and the necessity for comprehensive training in AI technologies. These barriers temper market growth, even as investment in AI healthcare technologies surges alongside the rising prevalence of breast cancer and the increased adoption of advanced imaging methods in medical settings.

Application Analysis

Based on application, the market is divided into screening, diagnostics, risk assessment & prediction, and others. Out of these, the screening segment contributed the most to the market in 2023, with a market share in 43.1%. screening segment remained the top contributor due to the multitude of applications AI can offer. Further, inclination towards early detection has been incremental in maintaining the popularity of this particular segment.

AI algorithms automate mammogram analysis, detecting subtle signs of early cancer stages that might otherwise go unnoticed. This capability is particularly crucial given the increasing prevalence of breast cancer and the rising adoption of AI in healthcare. Additionally, AI aids radiologists by providing second opinions on imaging results, enhancing diagnostic accuracy and supporting precision medicine initiatives.

AI’s application extends beyond detection to include risk assessment and other emerging areas like therapy planning and educational tools. By analyzing historical imaging data alongside genetic information, AI models predict breast cancer risk, facilitating early interventions. Furthermore, advancements in AI contribute to personalized care management and operational efficiencies, fostering a broader digital transformation in the healthcare sector. This ongoing evolution in AI applications supports substantial growth in the market, aligning with global healthcare trends

End-Use Analysis

The market for AI in Brest Imaging is divided into hospitals and clinics, diagnostic imaging centers and research institutes. Among these, the hospitals and clinics segment generated them most revenue in 2023, by claiming a revenue share of 53.2%. the use of AI in breast imaging has enabled effective detection of any anomalies and streamlined the diagnostic and consequently the therapeutic process.

These institutions are integrating AI to enhance diagnostic accuracy and streamline workflows, which is crucial for early cancer detection and improving patient outcomes. Simultaneously, diagnostic imaging centers are adopting AI to expedite and refine the accuracy of image assessments, thereby reducing wait times and boosting patient throughput.

Additionally, specialized breast care centers are leveraging AI to improve the detection and diagnosis of breast abnormalities through advanced imaging techniques. This targeted use of AI helps in early intervention, leading to better clinical results. Another growing segment includes private practices and small clinics, where AI adoption is enhancing diagnostic capabilities and operational efficiency, albeit at a slower pace compared to larger institutions. This gradual adoption highlights a broader trend towards more accessible and cost-effective AI solutions in breast imaging.

Key Market Segments

Technology

• Machine Learning
• Deep Learning
• Computer Aided Detection
• Natural Language Processing

Application

• Screening
• Diagnostics
• Risk Assessment
• Others

End User

• Hospitals and Clinics
• Diagnostic Imaging Centers
• Breast Care Centers
• Other End Users

Drivers

The Increasing Incidence Of Breast Cancer Causing A Gradual Surge In Market Growth

According to an article by WHO, breast cancer was the most prevalent cancer in the world in 2020, and its incidence has been increasing on a global scale. As stated in an article by the American Cancer Society, the incidence rate of breast cancer has grown by 0.6%, while that in case of women below 50 has increased by 1.0%.  Rapid diagnosis is crucial to receive timely and effective medical care for cancer of any kind. Seeing that breast imaging is most effective in detection of cancer cells present, malignant or otherwise, the procedure is being preferred by professionals and patients alike.

Increasing Elderly Population Linked To Accelerating Market Growth

The population and proportion of elderly people is increasing with the number of people of 60 predicted to reach 2.1 billion by 2050, according to a report by WHO. Age is one of the immutable risk factors for breast cancer. The likelihood of developing breast cancer increases with age. As stated in an article by the Center for Disease Control and Prevention, most breast cancers diagnosed are in women over 50. Thus, rising elderly population directly affects the market growth in a positive manner.

Restraints

High costs of imaging procedures to deter market growth

Patients often hesitate to seek medical attention due to exorbitant costs of medical procedure. According to an article by Breast Cancer Organization, the women who had to pay out-of-pocket for diagnostic imaging tests were less likely to get follow-up testing done.  Further, women without medical insurance are more likely to forego seeking any medical attention. Thus, monetary barriers pose a threat to the growth of the market.

Opportunities

Increase in healthcare expenditure anticipated to encourage market growth

The healthcare expenditure is increasing globally, which has enabled rapid technological advancements. Further, the increasing investments have encouraged research and development initiatives, which in turn have ushered in a new era of innovations in the field of breast imaging. Especially in India, the per capita government expenditure has doubled in 2020, as per a recent report by the Press Information Bureau.

Impact of Macroeconomic / Geopolitical Factors

One of the main factors that influence the market is government expenditure, which has seen considerable increase on a global scale. Funds from government and investors encourage technological innovations, which ultimately fuel market growth. Not only this, but taxation policies and trade policies also affect t the growth of the AI in Breast Imaging market in a considerable manner.  Additionally, interest rates, and foreign currency exchange rates influence pricing.

Latest Trends

Integration Of Deep Learning Algorithms

The latest trends in the AI in breast imaging market include the integration of deep learning algorithms for enhanced accuracy in lesion detection and classification. Multi-modality imaging approaches, combining mammography with other modalities like MRI and ultrasound, are gaining traction for comprehensive assessments. Moreover, there’s a growing emphasis on personalized screening protocols, leveraging AI-driven risk assessment models for tailored patient care.

Additionally, advancements in image reconstruction techniques and the development of explainable AI models are enhancing interpretability and clinical acceptance. Furthermore, the rise of cloud-based solutions facilitates seamless data sharing and remote access, fostering collaboration and improving workflow efficiency.

Regional Analysis

North America is leading the AI in Breast Imaging Market

The artificial intelligence in breast imaging market is benefitted from the increasing incidence of breast cancer in the region. The region boasts advanced healthcare infrastructure and substantial investments in research and development. Additionally, North America hosts numerous prominent medical institutions and technology firms pioneering AI-driven innovations in breast imaging.

Moreover, high breast cancer incidence rates in the region prompt extensive screening efforts and drive the adoption of cutting-edge imaging technologies. These combined factors position North America at the forefront of AI applications in breast imaging.

The Asia Pacific region is expected to experience the highest CAGR during the forecast period

Rising awareness of breast cancer screening and early detection campaigns across countries like China, India, and Japan is propelling market growth. Furthermore, increasing healthcare expenditure, improving access to advanced medical technologies, and expanding healthcare infrastructure in the region contribute to the adoption of AI-driven breast imaging solutions. These dynamics collectively drive the growth potential of the Asia Pacific market in the forecast period.

Key Regions and Countries

Key Regions

• North America
  • The US
  • Canada
  • Mexico
• Western Europe
  • Germany
  • France
  • The UK
  • Spain
  • Italy
  • Portugal
  • Ireland
  • Austria
  • Switzerland
  • Benelux
  • Nordic
  • Rest of Western Europe
• Eastern Europe
  • Russia
  • Poland
  • The Czech Republic
  • Greece
  • Rest of Eastern Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Australia & New Zealand
  • Indonesia
  • Malaysia
  • Philippines
  • Singapore
  • Thailand
  • Vietnam
  • Rest of APAC
• Latin America
  • Brazil
  • Colombia
  • Chile
  • Argentina
  • Costa Rica
  • Rest of Latin America
• Middle East & Africa
  • Algeria
  • Egypt
  • Israel
  • Kuwait
  • Nigeria
  • Saudi Arabia
  • South Africa
  • Turkey
  • United Arab Emirates
  • Rest of MEA

Key Players Analysis

In the competitive landscape of breast imaging AI solutions, major players such as GE Healthcare, Hologic, Siemens Healthineers, and Philips Healthcare dominate. GE Healthcare’s MyBreastAI suite integrates iCAD’s ProFound Breast Health Suite, enhancing breast cancer detection and workflow efficiency. Hologic introduces the Genius AI Detection 2.0 solution, focusing on improved cancer detection and reduced false positives.

Siemens Healthineers and Philips Healthcare also offer AI-driven solutions for breast imaging, contributing to a competitive marketplace. Other emerging players, including Fujifilm Medical Systems and Agfa-Gevaert Group, further diversify the market with innovative AI technologies aimed at advancing breast cancer diagnostics and patient care.

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• GE Healthcare
• Hologic Inc.
• Gamma Medica, Inc.
• Siemens Healthcare
• Fujifilm Holdings Corp.
• Toshiba Corporation
• Aurora Imaging Technology, Inc.
• Other Key Players

Recent Developments

• In November 2023, GE HealthCare introduced the MyBreastAI suite, comprising three AI applications from iCAD’s ProFound Breast Health Suite. This platform aids in breast cancer detection and imaging workflows.
• In November 2023, At RSNA 2023, Hologic unveils advancements in its AI solutions for breast cancer detection and imaging reading workflow. The Genius AI Detection 2.0 enhances cancer detection and streamlines workflow by minimizing false positives.

Report Scope