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Mammography Market Overview, Competitive Analysis, Key Trends And Outlook 2024 To 2033
Mammography Market
According to The Business Research Company's, The mammography market size has grown rapidly in recent years. It will grow from $2.36 billion in 2023 to $2.61 billion in 2024 at a compound annual growth rate (CAGR) of 10.8%. The growth in the historic period can be attributed to increasing breast cancer incidence, rising awareness and screening programs, government initiatives and funding, advocacy and support groups, improved reimbursement policies.
The mammography market size is expected to see strong growth in the next few years. It will grow to $3.77 billion in 2028 at a compound annual growth rate (CAGR) of 9.7%. The growth in the forecast period can be attributed to personalized medicine approaches, expansion of breast cancer screening programs, increasing collaboration in research, telemedicine and remote screening, focus on patient-centric care. Major trends in the forecast period include digital mammography dominance, rise of 3d mammography (tomosynthesis), integration of artificial intelligence , increasing emphasis on personalized screening, expanding applications beyond cancer screening, advancements in breast imaging technologies.
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Market Drivers and Trends:
The increase in the incidence of breast cancer is expected to propel the growth of the mammography market. Breast cancer is a condition when the breast's cells proliferate out of control. The prevalence of breast cancer is increasing globally, and mammography is one of the most influential and widely used screening tools for early detection and diagnosis of breast cancer. For instance, in 2023, according to the Breastcancer.org, a US-based nonprofit organization, an estimated 297,790 new cases of invasive breast cancer are expected to be diagnosed in U.S. women, along with 55,720 new cases of DCIS. Further, in January 2023, according to the American Cancer Society, a US-based Voluntary organization, in 2022, a projected 287,850 new instances of invasive breast cancer were identified in women in the United States, coupled with 51,400 new cases of non-invasive (in situ) breast cancer. Therefore, the increase in the incidence of breast cancer is driving the mammography market.
Technological advancement is the key trend gaining popularity in the mammography market. Major players in the mammography market are concentrating on creating cutting-edge technology to boost their market share. For instance, in August 2021, FUJIFILM Medical Systems U.S.A. Inc., a US-based manufacturer of enterprise and diagnostic medical imaging solutions, collaborated with ScreenPoint Medical BV to launch Transpara, which is powered by Fusion AI technology developed by ScreenPoint Medical BV. Transpara is a breast imaging software that uses artificial intelligence (AI) and deep learning algorithms to analyze mammography images and provide clinical decision support to radiologists. Transpara software is designed to help radiologists identify and diagnose breast cancer at an early stage with higher accuracy and efficiency. It can analyze digital mammography images and provide an AI-based breast cancer risk assessment, highlighting suspicious areas for further investigation. ScreenPoint Medical BV is a US-based company that innovates and markets AI applications and image analysis services for early breast cancer diagnosis.
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Major Key Players of the Market:
Hologic Inc.; Fujifilm Corporation; Siemens Healthcare AG; Canon Medical Systems Corporation; GE Healthcare Company; Metaltronica S.p.A; Koninklijke Philips N.V.; Gamma Medica Inc.; Konica Minolta Inc.; Carestream Health; PLANMED OY; Villa Sistemi Medicali Spa.; Toshiba Medical Systems Corporation; Allengers Medical Systems Ltd.; Analogic Corporation; IMS Srl; BMI Biomedical International s.r.l.; General Medical Merate S.p.A.; Genoray Co. Ltd.; Agfa-Gevaert N.V.; Delphinus Medical Technologies Inc.; Micrima Limited; CMR Naviscan Corporation; Dilon Technologies Inc.; Koning Corporation; Medi-Future Co. Ltd.; PerkinElmer Inc.; QView Medical Inc.; Radmirtech Co. Ltd.; SOREDEX; Trivitron Healthcare Pvt. Ltd.; Ziehm Imaging GmbH; Zonare Medical Systems Inc.
Mammography Market 2024 Key Insights:
• The mammography market will grow to $3.77 billion in 2028 at a compound annual growth rate (CAGR) of 9.7%.
• Surging Breast Cancer Incidence Fuels Growth In The Mammography Market
• Innovative Advancements Revolutionizing Mammography Technology
• North America was the largest region in the mammography market in 2023
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