The global Mammography Market demand is estimated to be worth around US$ 1.7 Billion in 2022. However, with rising prevalence of breast cancer at an alarming rate the overall demand for mammography systems is anticipated to grow at around 6.5% to 9% CAGR between 2022 and 2032, totaling over US$ 3.4 Billion by 2032.
Mammography is a modern non-invasive medical imaging and diagnostic technique that uses low-dose X-rays to monitor breast tissues for the presence of tumor. It has become one of the most commonly used techniques for checking abnormalities in the absence of any symptoms. It has significantly aided in reducing breast cancer mortality rates worldwide.
Increasing prevalence of breast cancer across the world along with growing awareness about the benefits of screening and early diagnosis of breast cancer is providing a major impetus to the growth of mammography market. It is one of the most common forms of cancer among females, worldwide.
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Various studies have found that the risk of breast cancer increases with aging and is common in females aged 40 years and above. It is for this reason that medical institutes and organizations like the American College of Radiology (ACR) and the National Comprehensive Cancer Network (NCCN) have recommended mammography screening for women every year, beginning at age 40. This will continue to act as a catalyst for market growth in future.
Various mammography solutions or types such as breast tomosynthesis, film screen systems, and X-ray are being used for the early diagnosis of breast cancer. However, film screen systems or screen film mammography remains the gold standard for the detection of breast cancer.
Various government and non-government organizations are spending large amounts on increasing breast cancer screening and thus reducing the overall burden. This will continue to provide tailwinds to market growth in future. Moreover, presence of favorable reimbursement policies across many developed regions is positively impacting the mammography market growth.
Which Factors Determine the Growth of Mammography Market?
Rapid rise in the number of breast cancer cases, technological advancements in breast imaging techniques, and increasing initiatives and investments by government and private organizations for breast cancer monitoring campaigns are some of the major factors driving the global mammography market.
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Mammography has emerged as one of the most advanced techniques used for the early diagnosis of breast cancer. It has significantly helped medical agencies to minimize the burden of breast cancer across the world.
Increasing incidence of breast cancer is the major force behind the expansion of mammography market. According to the World Health Organization (WHO), an estimated 2.3 million women were diagnosed with breast cancer in 2020 globally. Early detection of breast cancer becomes necessary for initiating proper treatment and therefore increasing the chances of survival. For this reason, mammography technique is being increasingly used across healthcare facilities.
Similarly factors such as increasing cases of hormonal imbalance, rising geriatric population and growing awareness among women regarding breast cancer, its diagnosis and treatment will continue to further push the sales of mammography systems in future.
In addition to this, technological advancements in mammography systems such as the development of 3-D imaging solutions (breast tomosynthesis) coupled with increase in the number of hospitals, diagnostic centers and specialty centers are projected to further boost the growth of mammography market in future.
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What are the Challenges Faced by the Mammography Industry?
Despite growing popularity of mammography for the detection of breast cancer, there are various challenges that are restraining market growth to a large extent. Some of these factors are the risk of radiation exposure, high capital investment, and lack of awareness about mammography systems across some developing and underdeveloped regions of the world.
Market Competition
Some of the key participants present in the global mammography market include Allengers Medical Systems Limited, FUJIFILM Holdings America Corporation, Hologic, Inc., PLANMED OY, Konica Minolta, GENERAL ELECTRIC, Inc., Siemens Healthcare Private Limited, Carestream Health, GE Healthcare, Koninklijke Philips N.V., and BET Medical.
These leading players are continuously innovating for developing novel diagnostic products with enhanced features and minimum side effects. Besides this, they are adopting growth strategies such as partnerships, acquisitions, collaborations, spending on awareness campaigns etc. to gain a competitive edge in the market.
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Key Segments Profiled in the Mammography Industry Survey
By Product Type:
- Breast Tomosynthesis
- Film Screen Systems
- X-Ray
- Others
By Technology Type:
- Digital Mammography
- Analog Mammography
- 3-D Mammography
- 2-D Mammography
By End Use:
- Hospitals
- Special Clinics
- Diagnosis Centers
- Ambulatory Surgical Centers
- Educational & Research Institutes
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- APEJ
- Japan
- Middle East & Africa
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