Mammography Market Size Worth USD 4.76 Billion by 2030 at 9.25% CAGR – Report by Market Research Future (MRFR)

New York, USA, Feb. 10, 2023 (GLOBE NEWSWIRE) — Mammography Market Overview

According to a Comprehensive Research Report by Market Research Future (MRFR), “Mammography Market Information By Type, Treatment, End-User, And Region – Forecast till 2030“, the market size was valued USD 1.91 billion in 2021 and is expected to reach USD 4.76 billion by 2030 at 9.25% CAGR during the forecast period 2022-2030.

Market Synopsis

A mammography system is a medical imaging device that uses low-dose x-rays to examine the breast’s internal structure and diagnose breast cancer. It is a minimally invasive treatment. Increasing awareness of breast cancer, the need for screening treatment through various government campaigns, awareness from NGOs, etc. As a result, the demand for mammography systems is increasing, driving the market’s growth. Breast cancer and other conditions related to the breast can more easily be found thanks to mammography. These tests are used to detect and diagnose breast cancer in female patients. Market growth is predicted to be fueled by aggressive initiatives by healthcare institutions to raise public understanding about early breast cancer diagnosis, the aging population, and an increase in the incidence rate of breast cancer.

The government funding for breast cancer research improved insurance reimbursement policies, and technological enhancements like breast tomosynthesis, which makes it simpler to diagnose breast cancer in women with heavy breast tissues, all contribute to the need for mammography equipment. Full-field digital mammography is the most widely utilized type of technology. It has the potential to significantly improve detection, reduce breast compression pressure, and minimize radiation doses in breast cancer diagnostics. X-rays and other low-energy ionizing radiations are used in mammography systems to look for cancer that hasn’t yet been diagnosed.

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Over the past ten years, healthcare institutions have implemented various screening initiatives to lower cancer-related mortality rates globally. The high incidence and mortality rate of breast cancer in this age group suggests an unmet need for breast cancer diagnostics. The necessity for mammography will probably increase as more incidents and fatalities occur. As a result, it is anticipated that the market will increase throughout the forecast period due to the growing elderly population. The industry’s new product launches are anticipated to increase end consumers’ adoption rates. X-rays and other low-energy ionizing radiations are used in mammography systems to look for cancer that hasn’t yet been diagnosed. Over the past ten years, healthcare institutions have implemented various screening initiatives to lower cancer-related mortality rates globally.

Market Competitive Landscape:

The illustrious contenders in the mammography market are:

• Carestream Health.
• BMI Biomedical International SRL
• Canon Inc
• GE Healthcare
• Koninklijke Philips NV
• Hologic, INC.
• Gamma Medica, Inc.
• Konica Minolta Business Solutions India Private Limited
• Metaltronica SpA, PLANNED OY
• FUJIFILM Holdings Corporation
• GENERAL MEDICAL ITALIA
• Siemens Healthcare
• Villa Systems Medical SpA.

Report Scope:

Mammography Market Dynamics:

Market Drivers:

One of the main reasons projected to fuel demand for breast cancer diagnostic equipment throughout the forecast period is the higher incidence of breast cancer and the rising demand among patients for early-stage diagnosis. Key elements anticipated to fuel the industry’s growth include expanding government initiatives to promote clinical interpretation and greater access to breast cancer screening systems. This market is expected to grow significantly over the estimated period as a result of an increase in the rate of breast cancer, growth in the number of older individuals, and proactive initiatives by medical institutions to disseminate awareness about the early detection of breast cancer. Improved insurance reimbursement policies, more government funding for breast cancer research, and technological advancements like breast tomosynthesis, which have made it easier for women with dense breast tissue to identify breast cancer, all contribute to the need for mammography equipment.

In addition, the rising incidence of breast cancer, improvements in breast imaging technology, and financial support for breast cancer screening programs from various organizations are important drivers of the mammography market’s expansion. Due to the superior representation of low-contrast objects, broader dynamic change, and enhanced diagnostic quality of images, particularly when analyzing thicker breasts, digital mammography is changing in many nations. Technological advantages, including improved breast cancer detection rates, the capacity to manage higher treatment volumes, and a more favorable reimbursement environment, have contributed to the wider adoption of 3D systems.

Market Restraints:

The market expansion is anticipated to be hampered by radiation exposure and erroneous results. The occurrence of breast cancer is anticipated to be constrained in the upcoming years due to several issues, including a lack of breast cancer awareness and screening programs, expensive treatment options, and limited treatment facilities.

Browse In-depth Market Research Report (95 Pages) on Mammography: https://www.marketresearchfuture.com/reports/mammography-market-2443

COVID 19 Analysis

Due to the lockdown measures in several countries and the delays in manufacturing and manufacturing of a wide variety of X-ray imaging devices and mammography systems, the COVID-19 outbreak has impacted the expansion of the mammography systems business. The COVID-19 pandemic is still changing how different markets are growing, and the outbreak’s immediate effects are diverse. Because many clinics and screening centers are currently on lockdown, the COVID-19 epidemic originally had a substantial negative impact on the mammography sector. However, it is anticipated that this requirement for mammography treatments will soon decline. Due to the COVID-19 epidemic, the market is anticipated to have a minor setback due to delayed diagnosis, medicine shortages, and other factors. However, as limitations and lockdowns become less tight, there may be a rise in the demand for mammography services. Many women who had postponed or canceled appointments for mammography screening can now have the examinations completed.

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Mammography Market Segmentation

By end-user, the market includes hospitals, specialty clinics, diagnostic centers, and research institutes.

By type, the market includes screening mammograms and diagnostic mammograms.

The market includes digital, analog, breast tomosynthesis, and film screen systems by treatment.

Mammography Market Regional Insights

The mammography market is determined to be dominated by North America, and it is predicted that there won’t be any notable changes to this trend during the projected period. Over the projected period, it is anticipated that the rising incidence of breast cancer and the region’s improved healthcare infrastructure will propel market expansion. Additionally, a highly advanced healthcare system and rising healthcare spending are projected to propel industry expansion throughout the forecast period. Over the forecast period, Asia-Pacific is anticipated to experience the quickest CAGR.

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The main factors driving the expansion of the Asia-Pacific market are the significant R&D expenditures on breast cancer treatments, the rising incidence of breast cancer, and advancements in breast imaging modalities. Thus, the incidence of breast cancer and the developing healthcare system in the area is anticipated to support overall growth. It is projected that the presence of developing nations like China, Japan, and India will accelerate the region’s growth. Key firms are also always working to penetrate Asia-Pacific’s growing markets.

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