Dublin, April 24, 2023 (GLOBE NEWSWIRE) -- The "Global Mammography Systems Market, By Product Type, By Modality, End User, Estimation & Forecast, 2017-2030" report has been added to ResearchAndMarkets.com's offering.
The global mammography systems market held a market value of USD 2,548.8 million in 2021 and is projected to reach USD 4,765.0 million by the year 2030. The market is projected to list a CAGR of 7.5% during the forecast period.
One of the main reasons projected to propel demand for mammography systems throughout the forecast period is the rising prevalence of breast cancer and the rising demand among patients for early-stage diagnosis. Some of the key elements anticipated to fuel the industry's growth include expanding government initiatives to promote clinical interpretation and greater accessibility to breast cancer screening systems.
The COVID-19 pandemic significantly impacted breast imaging procedures. Lockdowns and other limitations imposed by governments throughout the world have impacted market demand. Governments have put rules in place that delay elective and non-urgent medical operations in order to stop the virus from spreading.
Additionally, the virus's fear of transmission, notably during COVID-19's initial wave in 2020, led to a large decline in breast imaging findings. According to data from Breast Cancer Now (UK) from September 2020, COVID-19 caused over 9,86,000 women in the UK to skip their breast screening appointments. According to a study published in the Eurasian Journal of Medical Investigation in 2020, mammography in Turkey decreased by 64% when compared to data from 2019.
As a result, the risk of radiation exposure rising will provide new difficulties for the breast imaging. On the other hand, the high price of imaging equipment or technologies would impede the market's growth.
Due to the unfavourable reimbursement scenario in emerging and undeveloped countries, the market will also face considerable challenges. However, the COVID-19 outbreak's introduction of unfavourable conditions and strict regulatory approval procedures impede market expansion.
Growth Influencers:
Growing prevalence of breast cancer
One of the main variables influencing the market for mammography systems is the increasing prevalence of breast cancer. The American Cancer Society estimates that in 2020, there will be around 276,480 new cases of invasive breast cancer in women.
In addition, it has been determined that 48,530 women have in situ breast cancer, and it is anticipated that this figure will increase in the upcoming years. Additionally, a lot of businesses have started to launch efforts to support breast cancer screenings.
Moreover, according to the Centers for Disease Control and Prevention, regardless of race or ethnicity, breast cancer is the most common malignancy in most Asian countries (CDC). The age-standardized incidence rate of breast cancer in Asia is 34.4 per 100,000 individuals, according to GLOBOCAN 2018. Thus, the rising incidence of breast cancer is anticipated to support overall growth.
Technological advancements in the field of breast imaging
Collaborations between the public and private sectors generate a wave of awareness that accelerates the market for mammography equipment. Densitas Inc., a global supplier of A.I. solutions for digital mammography and breast screening, released the first artificial intelligence-powered telehealth technician training platform in November 2020 in collaboration with Mammography Educators.
This platform will support the ongoing operations of mammography facilities. In collaboration with Mammography Educators, Densitas is offering specialised educational materials and a telemedicine solution that offers real-time virtual training based on Densitas IntelliMammo technician assessments.
The densitas intelliMammo suite provides quantitative picture quality measures at the technician and mammography facility levels, enabling the detection of trends in technicians' productivity. This makes it possible for mammography educators to create a mammography-specific, evidence-based curriculum.
Competitive Landscape
The prominent players operating in the global mammography systems market include Allengers Medical Systems Limited, Fujifilm Holding Corporation, General Electric Company, Hologic Incorporated, Toshiba Corporation, Konica Milota Incorporated, Koninklijke Philips N.V. (Philips Healthcare), Metaltronica SPA, Planmeca OY, Siemens Aktiengesellschaft, and others.
The major players in the market hold approximately 50% of the total market share. These market players are capitalizing in product launches, joint ventures, expansions, mergers. Siemens Aktiengesellschaft generated 48% of its revenue from Europe, CIS, Africa, Middle East regions, whereas it generated 28% through Americas region.
Segments Overview:
- The global mammography systems market is segmented into product type, modality, and end user.
- The analog mammography systems segment held the highest market share of more than 60% in 2021.
- The portable mammography systems is projected to hold the highest market share with largest CAGR of 7.8% over the forecast period.
- The inpatient settings segment is expected to reach USD 3,345.8 million by 2030.
- The Asia Pacific market for mammography systems held the largest market share of more than 30%. The North American market for mammography systems is projected to grow at a highest growth rate of 8.2% over the forecast period.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 180 |
| Forecast Period | 2021 - 2030 |
| Estimated Market Value (USD) in 2021 | $2548.8 Million |
| Forecasted Market Value (USD) by 2030 | $4765 Million |
| Compound Annual Growth Rate | 7.5% |
| Regions Covered | Global |
Global Mammography Systems Market Overview
Industry Outlook
- Overview of Mammography Systems Market
- Demographic analysis under Mammography
Industry Value Chain Analysis
- Material Provider
- Manufacturers
- Distributor
- End user
Market Dynamics and Trends
- Growth Drivers
- Restraints
- Challenges
- Key Trends
Market Growth and Outlook
- Market Revenue Estimates and Forecast (US$ Mn), 2017 - 2030
- Price Trend Analysis
Competition Dashboard
- Market Concentration Rate
- Company Market Share Analysis (Value %), 2021
- Competitor Mapping
- Promotional Marketing Strategies and USPs
Covid-19 Impact Assessment on Market Growth Trend
Company Profiles (Company Overview, Financial Matrix, Key Product landscape, Key Personnel, Key Competitors, Contact Address, and Business Strategy Outlook)
- Allengers Medical Systems Limited
- Fujifilm Holding Corporation
- General Electric Company
- Hologic Incorporated
- Toshiba Corporation
- Konica Milota Incorporated
- Koninklijke Philips N.V. (Philips Healthcare)
- Metaltronica SPA
- Planmeca OY
- Siemens Aktiengesellschaft
For more information about this report visit https://www.researchandmarkets.com/r/fkoksj
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