New York, April 28, 2023 (GLOBE NEWSWIRE) -- According to Persistence Market Research's recently published report, The Global Mammography Market was expected to reach US$ 2.1 billion in 2022. The market is predicted to reach a valuation of US$ 6.9 billion by 2033 with a CAGR of 11.6% from 2023 to 2033. The growth in the market is attributed to the increasing incidence of breast cancer, the rising awareness about the importance of early detection, and the technological advancements in mammography systems.
Mammography is a specialized medical imaging technique that uses low-dose X-rays to examine the breast tissues. It is used as a screening tool for breast cancer detection in women and has been proven to be effective in detecting breast cancer at an early stage. The mammography market has seen significant growth in recent years due to the increasing prevalence of breast cancer and the rise in awareness about the importance of early detection.
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Mammography Market Growth Factors
- Increasing Incidence of Breast Cancer: Breast cancer is the most common type of cancer in women, and the incidence of breast cancer is increasing globally. This has led to an increase in demand for mammography screening, which is the most effective tool for early detection of breast cancer.
- Technological Advancements: The mammography market has witnessed significant technological advancements, such as the development of digital mammography, breast tomosynthesis, and contrast-enhanced mammography. These technologies provide more accurate and detailed images, improving the diagnostic accuracy of mammography.
- Government Initiatives and Funding: Many governments are focusing on reducing the burden of breast cancer by providing funding for mammography screening programs. For instance, in the United States, the Affordable Care Act mandates insurance coverage for mammography screening without co-payments or deductibles.
- Aging Population: The incidence of breast cancer increases with age, and as the population ages, the demand for mammography screening is expected to rise.
- Increasing Awareness: The importance of mammography screening for breast cancer detection is becoming more widely recognized, leading to an increase in demand for mammography services.
- Emerging Markets: The mammography market is expanding into emerging markets, driven by rising healthcare expenditure, increasing awareness, and improving healthcare infrastructure. This is expected to create significant opportunities for market players in these regions.
- Personalized Medicine: The increasing focus on personalized medicine is leading to the development of advanced mammography technologies, such as molecular breast imaging, which can detect breast cancer at an early stage and tailor treatment to the individual patient.
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Competitive Analysis:
The mammography market is highly competitive, with several global and regional players operating in the market. Some of the key players in the market include Hologic Inc., Analogic Corporation, Canon Medical Systems Corporation, Fujifilm Corporation, Siemens Healthcare, Toshiba Medical Systems, GE Healthcare, Metaltronica, Koninklijke Philips NV, and PLANMED OY.
Recent News
- Hologic Inc. announced in December 2020 that the FDA had cleared their Genius AI Detection technology in the United States. It is a piece of software that uses deep learning to assist radiologists in finding possible tumours in breast tomosynthesis images.
- A cooperation between Hologic Inc. and RadNet was formed in November 2020 to hasten the creation of artificial intelligence tools for breast health. The collaboration may include data sharing, research and development, and an update of RadNet's fleet of Hologic mammography systems to imaging technology.
- To enhance the mammography workflow, image management, and storage capabilities of the Senographe Pristina Mammography System, GE Healthcare and Candelis Inc. formed a cooperation in September 2020.
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Market Segmentation:
- By Product Type (Film Screen Systems, Digital Systems, Analog Systems, Biopsy Systems, 3D Systems)
- By Technology (Breast Tomosynthesis, CAD, Digital)
Regional Analysis:
North America is the largest market for mammography, owing to the high prevalence of breast cancer in the region and the well-established healthcare infrastructure. The US is the largest market in the region. Europe is the second-largest market, driven by the increasing incidence of breast cancer and the rise in awareness about the importance of early detection. Asia Pacific is the fastest-growing market, driven by the increasing healthcare expenditure, the rising awareness about breast cancer, and the growing adoption of advanced mammography systems.
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