Mammography Market

Market Synopsis:

The Global Mammography Market was valued USD 1.10 Billion in 2022 and is anticipated to reach a value of USD 2.36 Billion by 2030. Over the projection timelines, the Global Market is forecasted to grow to exhibit a CAGR (Compound Annual Growth Rate) of 10.00%.

During a mammogram, tiny tumors, cysts, and other breast anomalies are highlighted using Analog, Digital, Computer Aided Detection, and Tomosynthesis methods. In the absence of symptoms, screening Mammography is done to look for abnormalities, which can help prompt the treatment of a dangerous medical disease. Diagnostic Mammography is typically performed afterward to assess any unusual clinical findings. As a result, it has several uses in medical facilities like hospitals, specialist clinics, and outpatient surgery and diagnostic facilities. One of the fundamental reasons fueling the market's growth is the rising incidence of breast cancer worldwide.

Additionally, rising public knowledge of the advantages of early detection and screening for breast cancer and the various treatment options available is fueling market expansion. Other growth-promoting aspects include technological developments, such as creating creative 3-dimensional, non-ionizing, and ionizing imaging systems. Furthermore, the market is expanding due to rental services for digital Mammography systems for public hospitals and diagnostic centers that offer affordable imaging solutions. The implementation of supportive government policies encouraging public health and other factors, such as notable advancements in healthcare infrastructure, are anticipated to propel the market toward expansion.

Market Segmentation:

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The Mammography market is segmented based on Product, Technology, and Region. Based on the Product segment, the market is segmented into Film Screen Systems, Digital Systems, Analog Systems, Biopsy Systems, and 3D Systems. Furthermore, based on the segment of Technology, the market is further bifurcated into Breast Tomosynthesis, Computer Aided Detection (CAD), and Digital.

Based on Product:

Digital Systems held a dominating share in the market in 2021

The Digital Systems segment held the most significant market share and is anticipated to expand profitably over the projection period. The increasing need for technologically advanced breast cancer screening systems is one critical reason to propel the expansion. Additionally, the segment is expanding due to its broad commercial availability and increased demand among healthcare professionals. On the other hand, the 3D Systems market is predicted to grow at the quickest rate. This growth is due to several benefits; hospitals & diagnostic clinics are converting to 3D Systems. The reason for this shift is that the 2D Systems are frequently inadequate in identifying all the indications of cancer, leading to a rise in the demand for extra screenings, which raises the cost of diagnostics as a whole.

Based on Technology:

Breast Tomosynthesis dominated the market in 2021

The Breast Tomosynthesis segment revenue is anticipated to expand steadily throughout the projected period. A 3D breast image is produced by the high-resolution limited angle tomography technique known as digital Breast Tomosynthesis. This innovative method aids in the early detection of breast cancer. Analyzing thick breasts using digital Breast Tomosynthesis is very helpful and can improve the ability to diagnose breast cancer. It further helps reduce the need for a biopsy and the number of false positive readings (readings that mistakenly identify normal tissue as abnormal). Any woman can wear it, but women with thick breasts benefit the most. High detection rates and rising awareness of the use of these systems are the main factors propelling the segment's expansion.

Based on Regional Analysis:

Asia Pacific is projected to grow at the highest CAGR during the forecast period

The Asia Pacific is accounted to grow at the highest CAGR (Compound Annual Growth Rate) during the forecast period. The primary growth drivers include:

• The rising incidence of breast cancer.
• Advancements in breast imaging technologies.
• Significant Research and Development (R&D) expenditures on breast cancer treatments.

As per a study by the Centers for Disease Control & Prevention (CDC), breast cancer is the most common malignancy in most Asian countries, regardless of race or ethnicity. Overall growth is projected to be fueled by the rising incidence of breast cancer and the region's increasing healthcare system. In addition, it is launched that developing nations like China, Japan, and India will accelerate market expansion. Key businesses are also working hard to reach Asia Pacific's growing markets, which is projected to promote growth.

Recent Developments:

• In December 2020, Hologic Inc. announced that the U.S. FDA had granted permission for its Genius AI Detection innovation, a sophisticated learning-based tool designed to assist radiologists in identifying common expected diseases in Breast Tomosynthesis images. Hologic Inc. is well-known as a designer, manufacturer, & distributor of high-quality diagnostic and clinical imaging devices.

• In November 2020, Hologic Inc. and RadNet outlined plans to work on enhancing artificial intelligence systems for breast health. The agreement will call for exchanging knowledge, creative effort, and remodeling RadNet's army of Hologic Mammography devices into cutting-edge imaging technology.

Competitive Landscape:

The key players in the Global Mammography Market include- Hologic Inc., Analogic Corporation, Canon Medical Systems Corporation, Fujifilm Corporation, Siemens Healthcare, Toshiba Medical Systems, GE Healthcare, Metaltronica, Koninklijke Philips NV, PLANMED OY and others.

Segmentation of the Global Mammography Market: