Mammography Systems Market to Cross $3.5 Billion by 2025: Global Market Insights, Inc.
SELBYVILLE, Del., Nov. 25, 2019 /PRNewswire/ — The global Mammography Systems Market is projected to surpass USD 3.5 billion by 2025, according to a new research report by Global Market Insights, Inc. Rising awareness about early detection of breast cancer coupled with the availability of free breast screening programs will accelerate market growth.
Increasing incidence of invasive breast cancer across the globe will stimulate mammography systems industry demand in the upcoming years. Breastcancer.org estimated that around one among eight women will develop an invasive form of breast cancer during their lifetime. Risk factors associated with breast cancer such as hormone replacement therapy, genetic factors, child-bearing and growing adoption of unhealthy lifestyle habits will further significantly contribute towards greater adoption of breast imaging modalities, thereby impacting global market demand over the projected years.
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Technological advancements in mammography systems will offer lucrative opportunities for industry expansion in the foreseeable future. Breakthroughs in mammography such as the use of synthesized 2D technology and digital breast tomosynthesis to reduce the recall rate and offer effective detection of cancer in dense breast tissues will escalate the customer preference towards advanced mammography systems. Also, subsequent development of image processing solutions that aid in breast imaging will impact the industry size. For instance, at the RSNA 2018 in November 2018, Fujifilm announced the launch of novel software and image processing enhancement for its ASPIRE Cristalle, aimed at augmenting clinical imaging. Aforementioned improvements aid in significantly lowering the mortality rate of breast cancer, thus positively impacting business growth over the coming years.
Some major findings of the mammography systems market report include:
- Presence of reimbursement policies for mammography screening procedures will drive the adoption of mammography in developed nations
- Innovations including personalized mammography by Hologic to enhance patient comfort while screening will aid in driving customer preference
- Growing demand for 3D breast tomosynthesis will significantly contribute to mammography systems industry progress
- Major players operating in the mammography systems industry include Hologic, Inc., GE Healthcare, Siemens Healthineers, Fujifilm and Korean C among other players
- Competitors are undertaking inorganic growth strategies such as mergers, acquisitions and launch of new products to capitalize on market expansion opportunities and to gain a competitive edge over others
Analog mammography systems market accounted for substantial revenue of over USD 135 million in 2018. Analog mammography uses low doses of X-ray radiation and can detect changes into tissue up to 1-2mm in size. These machines are relatively cost-effective, and the generated images can be converted into digital form with computed radiography and saved as DICOM format. Therefore, adoption of affordable and technologically advanced systems, favorable for underdeveloped countries, will augment the segmental growth.
Browse key industry insights spread across 150 pages with 76 market data tables, as well as 9 figures and charts, from the report, «Mammography Systems Market Size By Product (Analog Systems, Full Field Digital Mammography Systems, Breast Tomosynthesis Systems), By Technology (Screen Film, 2D Mammography, 3D Mammography), By End-use (Hospitals, Ambulatory Surgical Centers), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Spain, China, India, Japan, Brazil, Mexico, South Africa, Saudi Arabia), Price Trends, Application Potential, Competitive Market Share & Forecast, 2019 – 2025» in detail along with the table of contents:
2D mammography systems segment accounted for around 70% revenue share in 2018. 2D technology systems offer improved outcomes and clearer images than screen film technology. Moreover, it reduces the exposure time and amount of radiation than screen film technology and provides high-quality images with better positioning. This technology is more cost-effective than screen film technology due to reduced recall rates. Countries such as Canada, the U.S., Japan and others are rapidly adopting this technology for increasing the diagnosis rate of invasive cancer. Additionally, 2D technology is used in full-field mammography as well as breast tomosynthesis machines, thereby driving the segmental growth over the projected years.
Other end-users including clinics and diagnostic imaging centers will witness rapid progress during the analysis period. The adoption of mammography machines in diagnostic centers across emerging nations including India is increasing due to tremendous expansion in the number of imaging centers. Additionally, growing initiatives for encouraging early screening of breast cancer coupled with improvements in healthcare infrastructure will further impact segmental growth over the forthcoming years.
The UK mammography systems market is poised to witness 8.8% CAGR during the analysis period. The adoption of smoking and the growing prevalence of obesity form the major risk factors for breast cancer. Moreover, the UK has a centralized mammography screening program and focuses on proper mammogram reading in order to reduce false-positive results. According to Cancer Research UK, every year, over 2 million women undergo breast screening. Thus, several risk factors coupled with the availability of breast screening equipment will influence growth of the UK mammography systems industry.
Industry players are implementing numerous strategies such as product innovations and partnerships to gain a competitive advantage for business expansion. In September 2018, Solis Mammography announced the introduction of SmartCurve technology, which is co-developed with Hologic, to improve the detection rate of invasive breast cancer and relieve patient discomfort during diagnosis. The product launch enabled the company to expand its product portfolio as well as an existing customer base.
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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Mammography Systems Industry Size 2025
Mammography Systems Market is anticipated to register over 7.9% CAGR up to 2025, on account of increasing prevalence of breast cancer coupled with expanding number of facilities offering mammography.
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