Pune, India, June 07, 2023 (GLOBE NEWSWIRE) -- The Insight Partners published latest research study on “Mammography Systems Market Share Report, Share, Revenue, Growth Strategy, Industry Trends and Forecast to 2028 - COVID-19 Impact and Global Analysis By Product , Technology and End User”, the global mammography systems market size is expected to grow from USD 2,172.8 million in 2019 to USD 3,790.5 million by 2027; it is estimated to grow at a CAGR of 7.4% from 2020 to 2027.
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Mammography Systems Market Report Scope, Segmentations, Regional & Country Scope:
| Report Coverage | Details |
| Market Size Value in | USD 2,172.8 million in 2019 |
| Market Size Value by | USD 3,790.5 million by 2027 |
| Growth rate | CAGR of 7.4% from 2020 to 2027 |
| Forecast Period | 2020-2027 |
| Base Year | 2020 |
| No. of Pages | 155 |
| No. of Tables | 72 |
| No. of Charts & Figures | 67 |
| Historical data available | Yes |
| Segments covered | Product, Technology, End User, and Geography |
| Regional scope | North America; Europe; Asia Pacific; Latin America; MEA |
| Country scope | US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Companies Covered | Carestream Health Inc., General Electric Company, Hologic, Inc., Koninklijke Philips N.V., PLANMED OY, Fujifilm Corporation, IMS GIOTTO S.P.A., Canon Medical Systems, Siemens Healthineers AG, Metaltronica S.p.A. |
Browse key market insights spread across 155 pages with 72 list of tables & 67 list of figures from the report, "Mammography Systems Market Forecast to 2028 - COVID-19 Impact and Global Analysis by Product [Condoms, Intrauterine Product (IUDs), Vaginal Rings, Implants, Patches, Diaphragms, Emergency Mammography Systems, Sponges, Others], End User (Home Care, Hospitals and Clinics), Distribution Channel (Retail Pharmacy, Online Pharmacy, Hospital Pharmacy)" in detail along with the table of contents: https://www.theinsightpartners.com/reports/mammography-systems-market
Global Mammography Systems Market Analysis: Competitive Landscape and Key Developments
Siemens Healthineers, Carestream Health, General Electric, Hologic, Inc., Koninklijke Philips N.V., PLANMED OY, Fujifilm Corporation, Canon Medical Systems, Metaltronica S.p.A., IMS Giotto S.p.A. among others is a few of the key companies operating in the mammography systems market. The market leaders focus on new product launches, expansion and diversification, and acquisition strategies, which allow them to access prevailing business opportunities.
In January 2019, Trivitron announced the launching of a new product, "Flat Panel Digital C-Arm & Felicia-Digital Mammography System". The Elite digital C-arm provides a world-class surgical imaging experience for high-precision image-guided procedures.
In May 2022, Therapixel, a leading AI-based software for women's health, announced a new version of Mammoscreen 2D and 3D that is capable of using prior mammographs for analysis. Mammoscreen automatically detects and characterizes suspicious soft tissue lesions and calcifications in mammography and tomosynthesis images by assessing the level of suspicion.
In April 2023, MOLLI Surgical announced the launching of two new products, "MOLLI 2 and MOLLI remarkable". MOLLI 2 product allows surgeons to pinpoint cancerous tissue for fast, accurate, and potentially improved cosmesis by significantly improving the patient experience.
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Technological Advancement Provides Lucrative Opportunities for Global Mammography Systems Market Size
Technological advancement provides a lucrative market opportunity for the overall market to grow exponentially during the forecast period. Computer-Aided Detection (CAD) technology is one such example of the recent technological advancement in the field of breast imaging. Based on the clinical studies, researchers reveal that CAD technology is efficient for screening 100,000 breast cancer through mammography screening programs assisting radiologists in alerting through clinical reports to the areas for attention to diagnose. Additionally, Congress passed the Medicare, Medicaid, and State Children's Health Insurance Program (SCHIP) Benefits Improvement and Protection Act of 2000, offering additional reimbursement for screening mammograms using CAD technology.
Likewise, Artificial Intelligence (AI) tools may assist in breast cancer screening programs through software. The AI-based breast cancer screening can be conducted accurately and reliably, classifying breast tissue density without human errors. Such aforementioned factors will offer lucrative market opportunities for the mammography systems market during the forecast period accounting major market share.
The Government support with Medicaid coverage for breast cancer screening, further accelerates the demand for mammography systems market growth. However, incorrect results produced by the systems resulting in wrong clinical diagnosis further expected to restrict the market growth during the forecast period.
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In North America, the US is the largest market for mammography systems market. The growth of this market is primarily driven by the rising support by the US government for breast cancer screening and innovative product launches by the competitive players. According to the KFF 2023 report, among women in the US, breast cancer is the most commonly diagnosed cancer standing as the second leading cause of cancer death. In the US, white women account for the highest incidence of breast cancer; black women have higher breast cancer mortality rates. To overcome such a high mortality rate, several organizations in the US have revealed guidelines for breast cancer screening and prevention, private insurance coverage of preventive services under the Affordable Care Act (ACA) and governed by the recommendations from the United States Preventive Services Task Force (USPSTF) and the Health Resources and Services Administration (HRSA). For example, Current HRSA guidelines define no-cost average standards for private insurance and recommend biennial screening mammography to start not earlier than 40 and not later than 50. Such government support for breast cancer screening thereby supports the adoption of mammography systems in the US, dominating the market growth during the forecast period.
Asia Pacific will account highest CAGR of 7.5% in 2019 for the mammography system market. Among the Asia Pacific region, China will account for the largest share of the mammography system market. According to the Frontiers S.A. report, there is a high incidence of breast cancer in China that has increased by 3-5% annually for the past twenty years and is twice as faster as the global rate. To overcome such a high burden of breast cancer in China, the Chinese Government announced the launching of a series of projects on cancer screening and prevention. Cervical and breast cancer screening are the major successful cancer screening programs run in rural areas of China. Such high government support and a large pool of government-run breast cancer screening programs result in dominating the market growth during the forecast period.
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