The global morphologically suspicious findings market size is expected to reach USD 6.72 Billion in 2028 and register a CAGR of 7.6% during the forecast period, according to the latest report by Reports and Data. Rapid integration of AI in morphologically suspicious findings to enhance efficiency of imaging and reduce the rate of false positives is expected to drive market revenue growth over the forecast period. In addition, increasing prevalence of breast cancer worldwide, rapid advancements in morphologically suspicious findings modalities, and rising number of diagnostic centers across the globe to cater to high demand for early detection and screening of breast cancer are other key factors driving market revenue growth over the forecast period.

Breast cancer is one of the most prevalent type of cancers in women across the globe and accounts for 14% of the newly diagnosed cancers in the United States. Breast cancer risk increases with age and is majorly diagnosed in women over 55 years of age. Increasing prevalence of breast cancer, coupled with high risk of this cancer is leading to development of advanced techniques and modalities for early detection for increasing survival rate in patients and reducing morbidity associated with treatment approaches. Over the last few decades, advancements in full field digital mammography, breast MRI, ultrasound, and nuclear medicine has revolutionized morphologically suspicious findings with enhancements in specificity in terms of cancer detection and lesion characterization. Technological upgrades in breast MRI such as development of contrast enhanced MRI with high sensitivity and proton spectroscopy offer new perspectives in providing important information regarding breast abnormalities. Increasing focus on expanding the application scope of new MRI technologies is another key factor expected to drive market growth over the forecast period.

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Some Key Factors Contributing to the Global Pharma & Healthcare Market Growth

Unprecedented revenue growth of the global pharma & healthcare industry is attributed to factors such as rising prevalence of chronic and acute diseases worldwide, increasing geriatric population, rising awareness of health & wellness among consumers, and growing demand for more advanced healthcare services. Increasing demand for advanced drugs and therapeutics, growing availability of next-generation diagnostics and treatment options – especially in developing countries like India and China – rise in R&D activities and clinical trials in the pharmaceutical and biotechnology sectors, increasing public and private investments in healthcare research projects, and rising consumer expenditure on healthcare are among the other significant factors contributing to the industry revenue growth.

Some Key Highlights from the Report:

  • Mammography segment is expected to account for largest revenue share over the forecast period, attributable to increasing preference for this type of screening across the globe to understand breast health and breast cancer risks. Mammography is the gold standard screening tool for breast cancer and has significantly reduced its burden and mortality, as well as minimized morbidity associated with treatments.
  • Hospitals and clinics segment is expected to register significant revenue share over the forecast period, owing to increasing pool of breast cancer patients, availability of top-of-the-line medical and diagnostic equipment, favorable reimbursement policies, and availability of a wide range of advanced morphologically suspicious findings techniques such as breast MRI, ultrasound, and mammography in such settings.
  • North America is expected to account for largest revenue share over the forecast period, attributable to growing prevalence of breast cancer, establishment of state-of-the-art healthcare and research facilities, rapid advancements in morphologically suspicious findings techniques, higher focus on personalized medicine, and presence of key market players in the region.
  • In October 2021, Penn Medicine announced a collaboration with Siemens Healthineers to offer free breast cancer screening to women above 40 years of age using a mobile mammography unit developed by Siemens. Under the partnership, Penn Medicine aims to offer breast cancer screening services to women in minority and underserved communities.

Top Players in the Global morphologically suspicious findings Market:

Canon Inc., Philips Healthcare, Aurora Imaging Technology Inc., Hologic Inc., GE Healthcare, Dilon Technologies Inc., Siemens Healthineers, CMR Naviscan, Fujifilm Holdings Corporation, and Delphinus Medical Technologies Inc.

The coronavirus pandemic has had a drastic impact on the global healthcare industry, with rising cases of COVID-19 worldwide, substantially growing hospital admission and readmission rates, and rising demand for telehealth and telemedicine services for remote patient monitoring. Furthermore, rising focus on development of rapid COVID-19 diagnostics such as the RT-PCR test kits, increased government funding for vaccine development, stringent regulatory norms and protocols for COVID-19 safety, and increasing sales of COVID-19 safety equipment, such as N-95 masks, face shields, PPE kits, and hand sanitizers, have driven the global pharma & healthcare industry revenue growth over the recent past.  

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morphologically suspicious findings Market Segmentation:

Technology Outlook (Revenue, USD Billion, 2018-2028)

  • Mammography
  • Breast Ultrasound
  • MRI
  • CBCT
  • MBI
  • PET-CT
  • Optical Imaging
  • ABUS

End-use Outlook (Revenue, USD Billion; 2018-2028)

  • Hospitals & Clinics
  • Diagnostic Imaging Centers
  • Breast Care Centers

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Frequently Asked Questions Answered in the Report:

  • What is the estimated revenue growth rate of the global morphologically suspicious findings market over the forecast period?
  • What are the major factors driving the global market revenue growth?
  • Which are the leading manufacturers and suppliers in the global morphologically suspicious findings market?
  • Which regional market is expected to lead in terms of revenue share in the global morphologically suspicious findings market over the forecast years?
  • What are the key outcomes of SWOT analysis and Porter’s Five Forces analysis of the market?

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