Mammography Market to Hold a High Potential for Growth by 2023

Overview:

Mammography is known as the process of using low-radiation X-rays to diagnose tumors in the human breast. Mammography equipment (mammogram) is fundamentally used as a diagnostic and screening tool. The main purpose of mammography is the early detection of breast cancer through the identification of microcalcifications (tiny specks of calcium deposits that can be scattered throughout the mammary gland). Mammography is believed to reduce mortality from breast cancer by early detection. Awareness of breast changes and physical examination by a physician are considered essential parts of regular breast care. Mammography has been recommended as a standard screening process for breast cancer worldwide. There are three types of mammography systems: analog systems, computed tomography (CR) systems, and full-field digital mammography (FFDM).

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The market growth can be attributed to the rising initiatives by various governments and NGOs to raise awareness about early diagnosis of macrocalcifications in breast tissue. Some significant organizations such as the National Breast Cancer Foundation, CDC, and Breast Cancer Organization are promoting the early diagnosis of mammary gland calcification, which is one of the crucial factors expected to drive the demand over the forecast period.

The major drivers of the mammography market include increasing incidence of breast cancer since past 25 years. In 2015, American cancer society estimated the 292,130 new cases of breast cancer. Moreover, increasing demand and current 3D mammogram launches by the major players is expected to boost the growth of the market during the forecasted period. For instance, Hologic offers 2D and 3D imaging-guided breast biopsies via Affirm prone biopsy system. The vendors are currently focusing on the technological advancements, new product launches, and strategic positioning of their businesses in the emerging economies. These factors are expected to drive the Global Mammography market in the future.

Market Analysis:

The “Global Mammography Market” is estimated to witness a CAGR of 15.03% during the forecast period 2017–2023. The Mammography market is analyzed based on three segments – types, end users, and regions.

Regional Analysis:

The regions covered in the report are the Americas, Europe, Asia Pacific, and Rest of the World (ROW). The Americas is set to be the leading region for the mammography market, followed by Europe. The Asia Pacific and ROW are set to be the emerging regions. India is considered to be one of the most attractive economies in the emerging regions. Companies, such as Philips Healthcare and Hologic, execute breast cancer awareness programmes in association with leading hospitals and healthcare agencies in developed countries to target more patients.

Product Type Analysis:

The Global Mammography market can be segmented into the following types of mammography devices used for screening: Analog Mammography, 2D Mammography, and 3D Mammography. The global 3D digital mammography market is expected to show rapid growth in the forecast period, due to the replacement of 2D mammography by 3D mammography in the high and mid-tier hospitals in the developed countries. By lessening the recall rates of women for breast cancer screening, digital breast tomosynthesis (DBT) promises reduction of overall healthcare costs which is beneficial for the medical insurers. The 2D Mammography segment generated the highest revenue in 2016, and is expected to dominate the market during the forecasted period. This is mainly due to the price difference between 2D and 3D mammograms. The market is also witnessing various mergers, acquisitions, and collaborations among the top players, which is defining the future of the Global Mammography market.

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Key Players:

Hologic Inc., Philips Healthcare, Siemens Healthineers, GE Healthcare, Fujifilm Holding Corp., Toshiba Medical Systems Corp., Planmed Oy, Carestream Health Inc. and other predominate & niche players.

Competitive Analysis:

The Global Mammography market is highly fragmented with the presence of large as well as small and medium vendors. The advances in technology and product upgradation will increase the competition among vendors. The market is highly dynamic with the presence of few big players accounting for more than half of the revenue generated worldwide.

Benefits:

The report provides complete details about the usage and adoption rate of mammography in the end users and regions. With that, key stakeholders can know about the major trends, drivers, investments, vertical player’s initiatives, government initiatives towards the mammography screening adoption in the upcoming years along with the details of commercial products available in the market. Moreover, the report provides details about the major challenges that are going to impact on the market growth. Additionally, the report gives the complete details about the key business opportunities to key stakeholders to expand their business and capture the revenue in the specific verticals to analyze before investing or expanding the business in this market.

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