Mammography Systems Market will see 7.5% CAGR to beat $3.2 billion by 2024| Key Players: Amico JSC, Canon, Carestream healthcare, Fujifilm

The Mammography Systems Market size is set to exceed USD 3.2 billion by 2024; according to a new research report by Global Market Insights.

Rising prevalence of breast cancer across the globe will propel the mammography systems market growth. A high number of women are suffering from breast cancer owing to the factors such as reduced child bearing, obesity and hormone-replacement therapy. Age-related factors are also the major contributing drivers for greater incidence rates of breast cancer in women. Moreover, heredity and increased radiations through repeated mammography tests will further stimulate the mammography systems market growth.

Growing awareness among the population of developed as well as urban areas of developing countries will support in impelling the mammography systems market growth. Decrease in mortality rates due to early detection will result in increased adoption of breast screening tests. Additionally, government funding to organizations across urban areas has enabled free or minimal cost breast screening tests for women within 50-69 years of age. This will lead to increased number of women seeking to mammography systems, thus resulting in a lucrative market growth of mammography systems.

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Technological advancements play a vital role in boosting the mammography systems industry growth. Better diagnosis of invasive breast cancer, reduced radiation rates and reduced recall rates has led to development in conventional technologies. For instance, analog systems were advanced to full field digital mammography systems due to poor detection results by the analog systems. Similarly, a more accurate and sensitive mammography system called digital breast tomosynthesis was introduced in 2011, that significantly reduced false-positive results of breast cancer. Higher adoption of technologically advanced mammography systems will further augment the industry growth of mammography systems.

Full field digital mammography systems segment held the largest market share in 2017 owing to the superior accuracy and efficiency of cancer detection over analog systems. Hence, analog mammography systems are getting replaced at a higher rate in U.S. and European countries. Technological advancement and reducing prices of digital mammography systems can be attributable to greater replacements and increased adoption of full field mammography systems.

2D mammography systems segment will witness lucrative growth over the forecast period owing to improved sensitivity than screen-film mammography system. 2D mammography system is able to diagnose cancer even in dense breast tissues. Additionally, there has been development of new technique called 2D synthetic mammography that reconstructs 3D images of DBT to 2D images simulating 2D FFDM system. It offers two tomosynthesis views coupled with two 2D views. 2D technology is also used in digital breast tomosynthesis along with FFDM systems, thereby garnering a considerable segmental growth of 2D technology of mammography systems.

Hospitals segment accounted for the largest market share in 2017. Growth is attributable to increasing number of hospitals in developing countries, increasing demand for mammography systems owing to increasing number of women suffering from breast cancer. Additionally, favorable reimbursement policies that influence adoption of expensive treatments are projected to propel business growth. Furthermore, increasing disposable incomes, better healthcare facilities, growing awareness among people of diagnosis of breast cancer will fuel the segment growth over the forecast period.

Browse key industry insights spread across 150 pages with 75 market data tables & 9 figures & 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 (Hospital, Ambulatory Surgical Centers), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Spain, China, India, Japan, Brazil, Mexico, South Africa), Application Potential, Competitive Market Share & Forecast, 2018 - 2024” in detail along with the table of contents.

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U.S. dominated mammography systems market in 2017 and will witness robust growth over the forecast period owing to rising breast cancer cases in this country. Awareness regarding breast cancer is high such as the breast-cancer awareness campaigns, events and rallies that positively impact the mammography systems market by boosting the number of breast cancer screening tests. The technology adoption rate is commendable in U.S. For instance, the FFDM systems are greatly getting replaced with breast tomosynthesis systems. These factors will propel the mammography systems market growth in U.S. in forthcoming years.

Rising incidence rates of breast cancer in Indian women contributes to a significant growth rate of mammography systems market in India. Breast cancer is the most common form of cancer in India, having high patient number in urban areas. A gradual increase in awareness and improved government spending on healthcare facilities in Indian population will lead to greater acceptance and adoption of mammography systems in this region contributing to a considerable regional growth throughout the forecast period.

Few of the notable industry competitors operating in global mammography systems market are Amico JSC, Canon, Carestream healthcare, Fujifilm, GE healthcare, Hologic, I.M.S., Konica Minolta, Korean C, Medical technologies, Planmed Oy, Philips, Siemens Healthineers. The market players are adopting new product launches coupled with technological advancements, to compete and reap profits in mammography systems market. For instance, in November 2017, Siemens Healthineers launched a new mammography system, Mammomat Revelation premium that is aimed at improving patient satisfaction and clinical operations.

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