Mammography Systems Market Growth Analysis | 2022-2028

“The Mammography Systems Market was estimated at USD 2.24 billion in 2020, and is likely to grow at a CAGR of 7.35% during 2022-2028 to reach USD 4.25 billion in 2028”.

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Market Dynamics

Introduction

Mammography devices are low-dose x-rays used to examine human breast. Key purpose of the device is for early detection of breast cancer at treatable stage, and devices recognize macro calcifications and characteristic of masses.

Market Drivers

Growth in demand for regular health monitoring along with increasing government funding for treatment of breast cancer with initiatives to improve clinical interpretation across the world are key factors that boost the overall market growth. Additionally, rising healthcare expenditure coupled with growth in the healthcare, rising awareness related to preventive check-up for breast cancer, technological advancement in breast imaging modalities. However, generation of false positive or negative and radiation exposure risks are major challenges that impact the overall mammography systems market growth negatively.

The global mammography systems market shows a strong opportunity for the forecast period due to high growth potential offered by rising emerging economies, growth of contract-based mobile and diagnostic solutions, and growth of research and development activities.

COVID-19 Impact:

The COVID-19 pandemic negatively affected the growth of the mammography systems industry, owing to strict lockdown measure across countries resulting in delay in production and manufacturing of wide variety of X-ray imaging devices, and mammography systems.

Mammography systems use low-energy ionizing radiations like X-ray to detect unsuspected cancer. As per our studies, renowned healthcare organizations like National Comprehensive Cancer Network, National Cancer Institute and American Medical Association recommend the application of routine screening mammograms for women under age group of 40+ years to improve participation in cancer screening to avoid the risk of developing breast cancer.

Segment Analysis

Product Type:

“Analysis shows that the Analog mammography systems segment dominated the market in 2020”.

The market is classified into Film Screen System, Digital System, 3D System, Analog System and Biopsy System. Analysis shows that the Analog mammography systems segment dominated the market in 2020, owing to the system’s technical trait of using low dose radiation to detect tissue changes while testing.

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End User Type:

“Hospitals segment hold the dominating position in the global marketplace”.

The market is segmented into Hospitals, Ambulatory Centers, Clinics and Others. Hospitals segment hold the dominating position in the global marketplace, owing to high number of patients visiting hospitals for mammography as compared to patients visiting clinics and ambulatory centers. Easy availability of mammography systems and mammography facilities in hospitals across countries positively affect various factors related to patients. Some of the key factors are duration of hospital stay, hospital care quality, total healthcare cost, and easy access to emergency care.

Regional Analysis:

“North America mammography systems market registered the highest revenue growth, followed by Europe mammography systems market”.

The mammography systems industry is analyzed across North America, Europe, Asia-Pacific, South America and Middle East. As per the studies, North America mammography systems market registered the highest revenue growth, followed by Europe mammography systems market. As per the regional studies, North America mammography systems market dominates the global marketplace in 2021, due to rising number of breast cancer cases, increasing women population, rising awareness pertaining to preventive check-up for breast cancer, rising healthcare expenditure and rise in the healthcare industry in this region.

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"Asia-Pacific mammography systems market is growing at the highest CAGR during forecast period".

Asia-Pacific mammography systems market is growing at the highest CAGR due to rising awareness pertaining to preventive check-up for breast cancer, high prevalence of breast cancer and rising technological advancement in breast imaging modalities in this region. As per the Centers for Disease Control and Prevention (CDC), breast cancer is majorly found malignancy in most Asian countries regardless of ethnicity or race. Thus, high prevalence of breast cancer and improved healthcare infrastructure across the region boost the overall market growth for the forecast period.

Key Players

The major players covered in the mammography devices market report are (arranged alphabetically)

• Analogic Corporation
• Aurora Healthcare
• Canon Medical Systems Corporation
• Carestream Health
• CMR Naviscan
• Delphinus Medical Technologies, Inc. 
• Dilon Technologies Inc.
• Fujifilm Holdings Corp.
• Gamma Medica, Inc.
• General Electric Company
• Hologic, Inc.
• Koninklijke Philips N.V
• KUB Technologies
• Metaltronica S.p.A.
• Micrima Limited
• PLANMED OY
• Siemens Healthcare Private Limited

Companies are adopting various competitive strategies to withhold significant share in the global marketplace. Hospitals play a key role in the overall development of the mammography systems market by partnering with companies and increasing the reach and availability of systems and facilities to an extended user base. Under the end user segment, the clinics segment is expected to witness a significant growth in CAGR during the forecast period. The rapid growth of the segment is based on increasing awareness about breast cancer among population at regional level. This has accelerated the demand for mammography procedures used for prevention, treatment, and diagnosis of breast cancer. 

The mammography systems market is highly competitive in nature due to presence of many renowned companies in the region. Although requirement of high investments to set up mammography systems & requirement of constant maintenance, along with unavailability of skilled professionals in the sector act as an entry barrier in the global marketplace.

Some of the key strategies are mergers and acquisitions, product launches, approvals and others. For instance:

• In December 2019, Hologic acquired Alpha Imaging for US$ 18 million. This acquisition will help Hologic to expand its product portfolio.
• In October 2021, In India, the government in Goa came up with an initiative for free breast cancer screening for half a million of women in the state. As a part of campaign, breast cancer screening carried out at 35 Health Centres across the state.

Note: The above list does not necessarily include all the top players in the market.

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Report Features

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Research Methodology

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.

More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.

We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

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