The Global Mammography Market is estimated to be valued at US$ 2360.16 Mn in 2023 and is expected to exhibit a CAGR of 9.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Mammography is a specific type of breast imaging that uses low-dose x-rays to detect cancer early before physical symptoms appear. Mammography aids in the early detection of breast cancer as it can identify tumors that can’t be felt which increases chances of breast cancer treatment being successful.
Market key trends:
One of the key trends in the mammography market is growing adoption of digital mammography systems. Digital mammography utilizes x-ray imaging and delivers clear, detailed images of the breast. digitized images can be enhanced, magnified and analyzed on computers instead of traditional X-ray film which allows improved accuracy of interpretation. Another key trend is increasing awareness initiatives by governments and nonprofit organizations to spread awareness about early detection of breast cancer which is boosting the growth of mammography market.
SWOT Analysis
Strength: Mammography is a widely used screening technique for early detection of breast cancer. It has high sensitivity and specificity for detecting breast abnormalities.
Weakness: Mammography has limitations in detecting cancers in women with dense breasts. It also involves exposure to ionizing radiation which can potentially increase the risk of cancer.
Opportunity: Growing awareness about early detection and benefits of regular screening. Increasing healthcare expenditures in emerging markets also provide growth opportunities.
Threats: Alternative newer breast cancer screening modalities like MRI and ultrasound pose competition. Strict regulations for radiation exposure during mammography poses challenges.
Key Takeaways
The Global Mammography Market Size is expected to witness high growth, exhibiting CAGR of 9.0% over the forecast period, due to increasing prevalence of breast cancer worldwide. The market size for 2023 is US$ 2360.16 Mn.
Regional analysis
North America dominates the global mammography market and is expected to continue its dominance over the forecast period. This is attributed to growing awareness about breast cancer screening and availability of advanced mammography systems. Asia Pacific exhibits the fastest growth rate owing to rising healthcare expenditures, growing medical tourism, and increasing government initiatives for early cancer detection in major countries.
Key players
Key players operating in the mammography market are Canon Medical Systems, Carestream Health, Siemens Healthineers, Planmed Oy, Konica Minolta Inc., Metaltronica SpA, Koninklijke Philips NV, General Medical Merate SpA, Hologic Inc., GE Healthcare, and Fujifilm Holdings Corporation, among others. Major players are focusing on new product launches, geographical expansion and mergers and acquisitions to gain a competitive edge in the market.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
