Newark, NJ, Oct. 27, 2021 (GLOBE NEWSWIRE) -- According to a survey published by Fior Markets, the global mammography systems market is predicted to rise from USD 2.30 billion in 2020 and to reach USD 4.35 billion by 2028, growing at a CAGR of 8.3% during the forecast period 2021-2028.
The mammography systems market is witnessing significant growth from the past years. The expanding health care spending, the burgeoning medical sector, and the increasing desire for periodic monitoring are some of the key reasons that are likely to boost demand in the next years for mammograms. Growing government attempts to enhance clinical interpretation and access to screening methods for mammary gland cancer are a key driver in demand over time. The increasing number of women who fall prey to breast cancer is one of the most important market drivers for mammography equipment. It is the most prevalent cancer in women, with a total of 2.1 million new diagnoses estimated by the World Health Organization every year. Although traditionally wealthy nations have shown significant frequency, even the emerging countries increasingly follow suit. It is vital to detect the condition as early as feasible to treat the disease and to increase the survival rate. Mammography is an important technique for cancer detection even before warning symptoms show. However, a relatively high price of mammography equipment restricts the mammography systems market. In nations where the health infrastructure is poor compared with in developed countries, modern technology mammograms are not easily available. The expense of mammography equipment and modest progress in cancer detection could curb market development.
Mammography systems are equipment for the diagnosis of breast cancer through medical imaging that diagnose the interior architecture of the breasts by using low-dose x-rays. The technique is non-invasive. Systems of mammography work on several approaches, include computer assisted detection, digital mammography and breast tomosynthesis. It may be used to identify breast cancer before any symptom appears in a patient and the findings acquired can be utilised as a test tool. One of the most common cancers in men and women, but most prominent and prevalent among women, is breast cancer. The methods of mammography are often used for screening individuals with breast cancer symptoms such as lumps, skin dimpling, discomfort etc.
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In addition to this, progress in breast imaging technology, rapid population expansion, increased awareness of early breast cancer screening is also driving growth in the market. Technological advances will give numerous profitable chances to develop the company in the future in the mammography system industry. Increased population and affluence are projected to give improved worldwide possibilities for mammography in countries like India and China. The adverse effects and the expensive cost of the imaging technology are nonetheless expected to restrict the worldwide market demand for mammograms. Lack of awareness of the availability of treatment techniques, particularly in rural regions, restricts market demand. The government's complicated regulatory framework hinders the mammography market's development rate.
Key players operating in global mammography systems market include Hologic, Analogic Corporation, Canon Medical System Corporation, Fujifilm Holdings Corporation, GE healthcare Konica Minolta Inc., ANZ Pty. Limited Toshiba Medical Systems Corporation, Philips N.V., Delphinus Medical Technologies Inc., Analogic Corporation.
The industry's main businesses pursue regulatory approvals, launch new technologies, extend their geographical scope, and enter partnerships, cooperation, fusion and acquisitions that are in addition to the rivalry for mammography systems.
2D Mammography segment held the largest market share of 3% in the year 2020
Based on Technology, the global mammography systems market is segmented into Screen Film, 2D Mammography, 3D Mammography. 2D Mammography segment leaded the market and held the largest market share of 36 % in the year 2020. Because cancers are more displayed in women with high breasts and a synthetic mammography and breast tomosynthesis technology is employed. In recent years there is a projected growth in the market for mammograms with the greatest CAGR technology 2D-and-3D.
Full Field Digital Mammography System segment held the largest market share of 41% in the year 2020
On the basis of Product, the global mammography systems market is segmented into Analog Systems, Full Field Digital Mammography System (FFDM), Breast Tomosynthesis System. Full Field Digital Mammography System (FFDM)segment dominated the market and held the largest market share of 41% in the year 2020. One of the most important reasons predicted to drive the market in the approaching years is the rising need for technologically enhanced breast cancer screening and diagnostic devices. Some of the main features that contribute for the greatest proportion of revenue on the global mammography market are the availability of advantageous repayment policies and increasing government assistance for improved screening performance.
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Regional Segment of Mammography Systems Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
On the basis of geography, the global mammography systems market is classified into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. North America region held the largest market share of 34.9% in the year 2020. The variables which push market revenues are the presence of a huge patient pool and the growing elderly population. The presence of several local players as well as the growing number of mammography product launches thrive on the market. The increased prevalence of instances of breast cancer in the region further drives demand for mammography devices.
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About the report:
The global mammography systems market is analysed based on value (USD billion). All the segments have been analysed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insights of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitors’ position grid analysis.
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