Mammography Market is expected to display a steady growth of 8% due to the rise in research and development activities| UnivDatos Market Insights

NOIDA, India, March 2, 2023 /PRNewswire/ -- According to a new report published by UnivDatos Markets Insights, the Mammography Market was valued at more than USD 2 billion in 2020 and is expected to grow at a CAGR of around 8% from 2022-2028. The analysis has been segmented into Product (Film Screen Systems, Digital Systems, Analog Systems, and 3D Systems); Technology Outlook (Breast Tomosynthesis, CAD Mammography, and Digital Mammography); Modality (Portable and Non-Portable); End-Use (Hospitals, Specialty Clinics, Diagnostic Centers, Ambulatory Surgical Centers, and Educational & Research Institutes); and Region.

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The mammography market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the mammography market. The mammography market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the mammography market at the global and regional levels.

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Market Overview

The mammography market is growing at high rates due to the rise in the geriatric population, the surge in the prevalence of breast cancer. For instance, breast cancer is 1.7 times more common in women over 65 than in women 45 to 64 years old, and 10 times more common in women under 45. Similarly, as per a research article published in the NCBI, breast cancer incidence rises with age, from 1.5 occurrences per 100,000 in women 20 to 24 years old to 421.3 cases per 100,000 in women 75 to 79 years old, with 95% of new cases occurring in women aged 40 and above. Apart from this, the rising government initiatives to promote breast cancer awareness is also having a positive impact on the market's growth. For example, in October 2021, the Goa government launched ''Swasth Mahila, Swasth Goa', an initiative for free breast cancer screening for 1 lakh women. In November 2021, Greater Chennai Corporation launched initiatives to raise awareness regarding breast cancer.

Some of the major players operating in the market include Hologic, Inc.; CANON MEDICAL SYSTEMS CORPORATION; Siemens Healthcare GmbH; Koninklijke Philips NV; FUJIFILM Holdings Corporation; GE HealthCare; Metaltronica S.p.A; PLANMED OY; Carestream Health; and Analogic Corporation.

COVID-19 Impact

The recent covid-19 pandemic has disrupted the world and has brought a state of shock to the global economy. The global pandemic has impacted the healthcare industry and has transformed the way healthcare is delivered. To meet the demand created by the COVID-19 pandemic, all other medical specialties saw a decrease in patient load. 

The global mammography market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.

• Based on technology outlook, the market is categorized into breast tomosynthesis, CAD mammography, and digital mammography. Digital mammography held a significant share of the market in 2020. It is a specialized and sophisticated form of mammography which evaluates breast tissues for the presence of cancers by utilizing digital sensors and computers rather than X-ray films. Full field digital mammography is one of the commonly used ditial mammography. It has the potential to make significant advancements in the detection of breast cancer, such as lowered radiation doses, minimizing breast compression pressure, and thus enhancing detection. Thus, these factors are driving the segmental growth. 
• On the basis of product, the market is segmented into film screen systems, digital systems, analog systems, and 3D systems. The 3D systems category is expected to witness higher CAGR during the forecast period. This is due to several benefits due to which hospitals and diagnostic clinics are switching to 3D systems as 2D systems are often ineffective in detecting every sign of cancer, surging the demand for additional screenings, which, in turn, boosts the overall diagnostic cost. Moreover, the widespread adoption of 3D systems is owing to technological benefits, such as increased breast cancer detection rates, the ability to manage bigger procedure volumes, and a more advantageous reimbursement scenario. 
• On the basis end-use, the market is segmented into hospitals, speciality clinics, diagnostic centers, ambulatory surgical centers, and educational & research institutes. The diagnostic center is anticipated to witness high CAGR during the forthcoming years, attributed to rise in  awareness about breast cancer diagnosis among individuals. This has boosted the demand for mammography procedures used for diagnosis, therapy planning, and prevention of breast cancer. The availability of advanced mammography services in diagnostic centers of developed & developing economies, such as the U.S., Germany, the U.K., Japan, China, and India, is expected to propel the overall segment growth.

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Mammography Market Geographical Segmentation Includes:

• North America (United States, Canada, and Rest of North America)
• Europe (Germany, United Kingdom, Spain, Italy, France, and the Rest of Europe)
• Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific)
• Rest of the World

In 2020, North America held a significant share of the global mammography market owing to rise in the prevalence of breast cancer. As per the American Cancer Society, an approximately 276,480 new cases of invasive breast cancer among women would be detected in 2020. Furthermore, 48,530 cases of in situ breast carcinoma in women have been discovered, and the number of breast cancer cases is predicted to rise in the coming years. In addition to this, other factors such as the increasing investments in breast cancer screening initiatives is also encouraging market gowth. For instance, the Society of Breast Imaging in the U.S. is dedicated to minimizing the burden of breast cancer and preserving patients' lives. It offers a Research & Education Fund initiative that intends to provide grants to assist breast imaging research and education. Another, the National Breast Cancer Foundation (NBCF) is the organization in the U.S. that offers breast cancer education and free mammograms to women in need. In addition, the presence of highly developed healthcare infrastructure and increasing healthcare spending are among the key factors anticipated to drive the industry growth over the forecast period.

The major players targeting the market include

• Hologic, Inc.
• CANON MEDICAL SYSTEMS CORPORATION
• Siemens Healthcare GmbH
• Koninklijke Philips NV
• FUJIFILM Holdings Corporation
• GE HealthCare
• Metaltronica S.p.A
• PLANMED OY
• Carestream Health
• Analogic Corporation

Competitive Landscape

The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Mammography market. The major players have been analyzed by using research methodologies for getting insight views on global competition.

Key questions resolved through this analytical market research report include:

• What are the latest trends, new patterns, and technological advancements in the mammography market?

• Which factors are influencing the mammography market over the forecast period?

• What are the global challenges, threats, and risks in the mammography market?

• Which factors are propelling and restraining the mammography market?

• What are the demanding global regions of the mammography market?

• What will be the global market size in the upcoming years?

• What are the crucial market acquisition strategies and policies applied by global companies?

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Mammography Market Report Coverage

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UnivDatos Market Insights (UMI) is a passionate market research firm and a subsidiary of Universal Data Solutions. We believe in delivering insights through Market Intelligence Reports, Customized Business Research, and Primary Research. Our research studies are spread across topics across the world, we cover markets in over 100 countries using smart research techniques and agile methodologies. We offer in-depth studies, detailed analysis, and customized reports that help shape winning business strategies for our clients.

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