Breast Imaging Market to Exceed $450 Million by 2009
August 17, 2005—The American Cancer Society recommends that all women over the age of 40 receive an annual mammogram to facilitate the early detection and treatment of breast cancer; in 2005, more than one million American women will join this group. Despite growing patient demand, fewer specialists are performing breast imaging procedures each year due to low reimbursement rates and frequent malpractice claims. In an effort to address these liabilities, those radiologists who continue to offer breast imaging are turning to technologies that improve workflow and enhance diagnostic output. According to a new report by Millennium Research Group, the conversion to digital technology and the adoption of newer adjunct modalities, such as breast magnetic resonance imaging (MRI) and scintimammography, will allow the US market for breast imaging systems to attain double digit growth over the next 5 years, generating more than $450 million in revenue by 2009.
Digital technology is rapidly becoming the norm in radiology, and mammography is following this trend. In an effort to improve workflow and meet rising patient demand, breast clinics are converting from film-screen to digital mammography systems. The added cost benefit resulting from the elimination of film development and storage costs ensures a rapid conversion, with the installed base of digital mammography systems set to quadruple from 2004 to 2009.
Breast radiologists are highly susceptible to allegations of malpractice due to claims arising from the failure to detect cancerous tumors. To mitigate the risk of litigation, these specialists are continually looking for ways to improve the quality and reliability of diagnostic information. This desire is evident in the escalating demand for adjunct modalities, such as breast MRI and scintimammography, and the popularity of computer-aided detection (CAD) systems.
MRG’s US Markets for Women’s Health Imaging 2005 includes analyses of the markets for breast imaging, OB/GYN ultrasound, bone densitometry, and CAD system, with coverage of over 30 competitors, including GE Healthcare (GE), Hologic (HOLX), Siemens Medical (SI), Fischer Imaging (FIMG), Philips Medical (PHG), Cooper Surgical, R2 Technologies, iCAD (ICAD), and Confirma.
A leading source of competitive intelligence, MRG is now the largest provider of medical device market research in the world. Located in Toronto, Canada, MRG covers global markets and has pioneered reporting of numerous emerging products.
- Contact Information
- Chris Bondarenko
- Account Executive
- Millennium Research Group Inc.
- Contact via E-mail
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