The Breast Mri market to stay attuned to growth in the next decade

Breast cancer is one of the most frequently occurring cancer in women across the world. In 2015, American Cancer Society estimated, 40,290 women are expected to die from breast cancer in the U.S. Mammography is the gold standard for breast cancer screening and focused mammography is used for better characterization. However, mammography could miss breast cancer in patients with breast implants, dense breasts and other similar situations. According to a study conducted by Canadian Breast Cancer Foundation 1 in 9 women in Canadian women is likely to develop breast cancer during their lifetime having a mortality rate of 1 in 29 diagnosed women. The prevalence of breast cancer in Canada accounts for second most leading cancer disease after lungs cancer and these statistics remain unchanged over past few years. Breast MRI or mammography is single most effective screening tool and has positive results and reducing breast cancer related mortality by 20-30%. Breast MRI uses a magnetic radio waves and a computer to produce detailed pictures of the structures within the breast.

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Breast MRI demonstrated potential for identifying and characterizing breast cancers. Conventional molecular imaging devices cannot be used directly for breast imaging since the spatial resolution is compromised in such systems. Breast MRI is sensitive, which can detect both cancerous and non-cancerous lesions.  In order to use conventional systems for Breast MRI, the breast need to be isolated and the camera needs to be placed close to the breast. Thus specialized breast MRI are used for the detection of breast cancer. Breast MRI market witnessing the maximum growth in near future owing to increase in patient pool globally. The increased number of breast cancer diagnosis due to rising awareness among women globally is the major drivers for the growth of the Breast MRI market. Better spatial resolution and more definitive results are some of the factors that support the growth of the Breast MRI market. However, high cost of the Breast MRI may hinder the growth of the Breast MRI market during the forecast period.

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Global Breast MRI Market can be segmented on the basis of architecture type, field strength and end user.

Based on architecture, the global Breast MRI Market is segmented as:

• Open Breast MRI
• Close Breast MRI

Based on field strength, the global Breast MRI Market is segmented as:

• High field Breast MRI
• Mid field Breast MRI
• Low field Breast MRI

Based on end user, the global Breast MRI Market is segmented as:

• Hospitals & Clinics
• Diagnostic Centers
• Cancer Institutes

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Breast MRI system are used as a preventive Breast cancer diagnosing. Rising prevalence of breast cancer is expected to be the major factor driving the growth of Breast MRI market over the forecast period. Breast MRI allows the patients to capture the picture of breast or any type of tumor or else and check the abnormalities to avoid the risks of Breast cancer. Breast MRI categorized as Open Breast MRI and close breast MRI and these are differ based on architecture and also field strength. The global market for Breast MRI Market is expected to generate significant revenue with a moderate growth over the forecast period. Breast MRI systems are economical and portable. Breast MRI systems provides greater convenience, time-savings as compare to Mammogram and use of Breast MRI market is increasing due to its ability of provide accurate diagnosis. Clinics and diagnostic centers are witnessing high demand for Breast MRI systems.

In terms of geography, Breast MRI market has been divided into eight regions including North- America, Eastern Europe, Western Europe, and Asia- Pacific excluding China & Japan (APECJ), China, Japan, Middle-East & Africa and Latin America. North America is the most dominating market for Breast MRI market due to the rise in awareness, substantial reimbursement and technological advancement. Western European countries such as Germany, France, and the U.K. are top revenue contributing countries in Western Europe region. The Asia Pacific excluding China and Japan Breast MRI market is expected to expand at a substantial growth rate over the forecast period due to increasing adoption due to increased awareness and low cost. China is the one of the important revenue contributing country in global Breast MRI market due to the availability of cost-effective Breast MRI technique and large patient pool in the region.

The global Breast MRI Market registers presence of large number of domestic manufacturers. Examples of some of the key players operating in the global Breast MRI Market are Siemens Healthcare Corporation, Toshiba Corporation, Dilon Technologies, Inc., Gamma Medica, Inc., Aurora Imaging Technologies, Philips Healthcare, FUJIFILM SonoSite, Inc., GE Healthcare Ltd., and SonoCine Inc  among others.

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Source MARKITWIRED