by The Mammography Market is estimated to be valued at US$ 2,360.16 Mn in 2023 and is expected to exhibit a CAGR of 9.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Mammography refers to X-ray imaging of the breast which is used as a diagnostic and screening tool for the detection of breast cancer. Mammography systems include analog mammography systems and digital mammography systems. Analog mammography provides X-ray film while digital mammography produces electronic images of the breast that can be viewed on a computer monitor. Digital mammography offers improved image quality for early detection of breast cancer as compared to analog mammography.
Market Dynamics:
The growth of the mammography market is driven by rising prevalence of breast cancer worldwide and increasing awareness about early screening and diagnosis. According to WHO, breast cancer is the most frequently diagnosed cancer in women globally, with an estimated 2.3 million new cases recorded in 2020. Early detection through mammography screenings significantly improves breast cancer survival rates. Another driver is the shift from analog to digital mammography systems. Digital mammography provides higher resolution images which improves diagnostic accuracy as compared to analog systems. In addition, digital images can be stored electronically and forwarded digitally, enabling remote consultation and telehealth applications for effective cancer management.
Segment Analysis
The mammography market is dominated by the digital mammography systems sub-segment. Digital mammography provides enhanced accuracy of diagnosis and has higher sensitivity for detecting breast cancers. Features like digital archiving of images and swift image retrieval have boosted the adoption of digital mammography over traditional analog mammography globally. The digital mammography systems segment accounted for around 70% share of the overall mammography market in 2023 due to better outcomes and convenience of digital platforms.
PEST Analysis
Political: Regulations promoting breast cancer screening programs have positively impacted the mammography market. Favorable reimbursement policies for mammography procedures augment the market growth.
Economic: Rising healthcare expenditures powered by improving economic conditions fuel the demand for advanced breast cancer screening modalities like mammography systems.
Social: Growing breast cancer awareness campaigns raise public knowledge about early detection benefits, propelling mammography adoption.
Technological: Continuous technological advancements are simplifying mammography systems with enhanced imaging capabilities and automated tools for improving diagnostics.
Key Takeaways
The Global Mammography Market Size is expected to witness high growth, exhibiting CAGR of 9.0% over the forecast period, due to increasing prevalence of breast cancer and rising awareness about early screening.
Regional analysis: North America dominated the global mammography market in 2023 with over 35% revenue share owing to favorable mammography reimbursements and widespread awareness drives. Asia Pacific is projected to witness the fastest growth during the forecast period supported by improving healthcare infrastructures and economic growth across emerging countries.
Key players analysis: Key players operating in the mammography market are Canon Medical Systems, Carestream Health, Siemens Healthineers, Planmed Oy, Konica Minolta Inc., Metaltronica SpA, Koninklijke Philips NV, General Medical Merate SpA, Hologic Inc., GE Healthcare, and Fujifilm Holdings Corporation, among others. Leading manufacturers are focusing on new product launches to integrate advanced features for enhancing diagnostic accuracy.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
