FMI’s Projection: Mammography Market to Grow at 10.1% CAGR, Reaching US$ 4,899.7 Million by 2033

In 2022, the projected size of the mammography market stood at US$ 1,741.2 million, and it is expected to reach US$ 1,880.2 million in 2023. As per the Future Market Insights report, the mammography market is poised for significant growth, with a projected compound annual growth rate (CAGR) of 10.1% from 2023 to 2033. By 2033, the market is anticipated to reach an impressive US$ 4,899.7 million in value.

Mammography is a non-invasive medical imaging and diagnostic technique that uses low-dose X-rays to detect tumors in breast tissues. It has become one of the most widely used techniques for detecting abnormalities when there are no symptoms. It has significantly aided in the reduction of breast cancer mortality rates around the world.

Get Your Hands on the Complimentary Visuals Report Today!
https://www.futuremarketinsights.com/reports/sample/rep-gb-9040

The rising prevalence of breast cancer around the world, combined with growing awareness about the benefits of screening and early detection of breast cancer, is driving the mammography market forward. It is one of the most common types of cancer in females around the world.

Several studies have found that the risk of breast cancer increases with age and is more common in women over the age of 40. Because of this, medical institutes and organisations such as the American College of Radiology (ACR) and the National Comprehensive Cancer Network (NCCN) have recommended annual mammography screening for women beginning at the age of 40. This will continue to be a driving force in market growth in the future.

For the early detection of breast cancer, various mammography solutions or types, such as breast tomosynthesis, film screen systems, and X-ray, are used. However, film screen systems, also known as screen film mammography, continue to be the gold standard for detecting breast cancer.

Various government and non-government organisations are investing heavily in increasing breast cancer screening and, as a result, lowering the overall burden. This will continue to be a tailwind for market growth in the future. Furthermore, the presence of favourable reimbursement policies in many developed regions is positively impacting the growth of the mammography market.

Which Factors Determine the Growth of Mammography Market?

Some of the major factors driving the global mammography market are the rapid increase in the number of breast cancer cases, technological advancements in breast imaging techniques, and increased initiatives and investments by government and private organisations for breast cancer monitoring campaigns.

Mammography has emerged as one of the most advanced techniques for detecting breast cancer in its early stages. It has significantly aided medical organisations in reducing the global burden of breast cancer.

The rising incidence of breast cancer is driving the growth of the mammography market. According to the World Health Organization (WHO), an estimated 2.3 million women in the world will be diagnosed with breast cancer by 2020. Early detection of breast cancer is required for proper treatment to begin, increasing the chances of survival. As a result, the mammography technique is increasingly being used in healthcare facilities.

Similarly, factors such as rising cases of hormonal imbalance, an ageing population, and increased awareness among women about breast cancer, diagnosis, and treatment will continue to drive mammography system sales in the future.

In addition to this, technological advancements in mammography systems such as the development of 3-D imaging solutions (breast tomosynthesis) coupled with increase in the number of hospitals, diagnostic centers and specialty centers are projected to further boost the growth of mammography market in future.

What are the Challenges Faced by the Mammography Industry?

Despite the growing popularity of mammography for the detection of breast cancer, a number of challenges are stifling market growth. Some of these factors include the risk of radiation exposure, high capital investment, and a lack of awareness about mammography systems in some developing and underdeveloped countries.

Will North America Retain its Dominant Position in the Global Mammography Market?

North America is expected to maintain its dominance in the global mammography market as the prevalence of breast cancer rises, people become more aware of the importance of diagnostic screening for initiating early treatment, and government and private organisations increase their spending on research and development.

Because of rising breast cancer cases, the availability of advanced diagnostic solutions, and favourable government support, the United States remains the most profitable market for mammography in North America. According to the American Cancer Society, there will be approximately 287,850 new cases of invasive breast cancer diagnosed in the United States in 2022. During the forecast period, the mammography market will continue to grow in North America.

Tap into Comprehensive Segmented Information – Purchase Today!
https://www.futuremarketinsights.com/checkout/9040

How is the Growth Projection for Asia Pacific Market?

According to Future Market Insights, the Asia Pacific mammography market is expected to grow rapidly during the forecast period, owing to increased adoption of mammography systems, increased government investments and initiatives to combat breast cancer burden, and rapid development of healthcare infrastructure in countries such as China and India.

Growing awareness about breast cancer, its diagnosis, and the availability of alternative treatments is driving the growth of the mammography market in Asia Pacific countries such as India and China. People are increasingly turning to these techniques for early detection of breast cancer. Once detected, timely treatment can be administered, increasing the chances of survival and lowering the economic burden.

Moreover, governments across these countries are taking various initiatives to reduce the rising burden of breast cancer cases. This is creating a conducive environment for the growth of mammography market in the region.

Market Competition

Some of the key participants present in the global mammography market include Allengers Medical Systems Limited, FUJIFILM Holdings America Corporation, Hologic, Inc., PLANMED OY, Konica Minolta, GENERAL ELECTRIC, Inc., Siemens Healthcare Private Limited, Carestream Health, GE Healthcare, Koninklijke Philips N.V., and BET Medical.

These leading players are continuously innovating for developing novel diagnostic products with enhanced features and minimum side effects. Besides this, they are adopting growth strategies such as partnerships, acquisitions, collaborations, spending on awareness campaigns etc. to gain a competitive edge in the market.

Key Segments Profiled in the Mammography Industry Survey

By Product Type:

• Breast Tomosynthesis
• Film Screen Systems
• X-Ray
• Others

By Technology Type:

• Digital Mammography
• Analog Mammography
• 3-D Mammography
• 2-D Mammography

By End Use:

• Hospitals
• Special Clinics
• Diagnosis Centers
• Ambulatory Surgical Centers
• Educational & Research Institutes

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:        

Nandini Singh Sawlani   

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube