$3.2 Bn Global Mammography Market is Expected to Grow at a CAGR of over 10.1% During 2022-2028 | Vantage Market Research

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WASHINGTON, Sept. 19, 2022 (GLOBE NEWSWIRE) -- Vantage Market Research’s recent analysis of the Global Mammography Market finds that the increasing cases of breast cancer patients globally and technological advancements are projected to augment the growth of the Global Mammography Market during the forecast period. The Global Market revenue was valued at USD 1.8 Billion in 2021.

The Global Mammography Market size is forecast to reach USD 3.2 Billion by 2028 and is expected to grow to exhibit a Compound Annual Growth Rate (CAGR) of 10.1% during the forecast period; states Vantage Market Research, in a report, titled “Mammography Market Size, Share & Trends Analysis Report by Product (Film Screen Systems, Digital Systems, Analog Systems, Biopsy Systems), by Technology (Breast Tomosynthesis, Computer Aided Detection (CAD), Digital), by Region (North America, Europe, Asia Pacific, Latin America) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)”.

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Key Industry Findings & Insights from the report:  

  • The global Mammography Market was valued USD 1.8 Billion in 2021 and is all set to surpass USD 3.2 Billion by 2028, exhibiting a CAGR of 10.1% during the forecast period 2022-2028.           
  • In terms of revenue, the application segment held the largest revenue share of in 2021 and is estimated to maintain its dominance for the forecast period.
  • In terms of revenue, the product segment held the second largest market share of in 2021 and is estimated to grow rapidly during the forecast period.
  • The growth can be attributed to rapid urbanization, technological advancement, an increase in investment by developing countries.
  • Asia Pacific captured the lion share in 2021 and is projected to retain its position over the forecast period. This can be attributed to the existence of a significant number of Mammography industry companies and the high adoption rate owing to government measures that stimulate this industry in this region. The growth is primarily due to the increasing collaborations.

List of Prominent Players in Mammography Market:

  • Hologic Inc.
  • Analogic Corporation
  • Canon Medical Systems Corporation
  • Fujifilm Corporation
  • Siemens Healthcare
  • Toshiba Medical Systems
  • GE Healthcare
  • Metaltronica
  • Koninklijke Philips NV
  • PLANMED OY

Market Dynamics:

Driver:

High Prevalence of Breast Cancer to Drive the Market Expansion

Mammography Market plays an essential part in the early detection of breast carcinoma, along with proving helpful in reducing the related fatality. Breast cancer is the most common category of malignancies in women in developed regions, and the cases of breast cancer patients are also growing in developing areas. But the death rate is low owing to early detection and diagnosis of this disease. Also, advancements in Mammography Market techniques have reduced breast cancer mortality over time. Therefore, the increasing prevalence of breast cancer across the globe is likely to drive the growth of the Mammography Market during the forecast period.

Technological Advancements and Government Initiatives to Fuel the Market Growth

Advancements in technologies in breast imaging, the increase in investment from different organizations in breast cancer screening campaigns, and supportive government policies and initiatives worldwide to create awareness among the female population about breast cancer and its symptoms are significant factors accountable for the Global Mammography Market expansion. In the U.S., about 1 in 8 women (around 13%) can develop invasive breast cancer. As a result, the growing number of Mammography Market tests performed will positively influence the market in the United States region. This, in turn, is expected to propel the market growth in the coming years.

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COVID-19 Impact Analysis:

The COVID-19 outbreak has affected various industries worldwide, and the Global Mammography Market is no exception. Governments across the world implemented several measures like strict lockdown to ensure social distancing norms to restrict the swift spread of the pandemic. The Mammography Market suffered as the manufacturing units worldwide were forced to shut down during the initial stages of the pandemic. Small and medium-scale companies, which are the backbone technology providers to the Mammography Market industry were directly affected due to the epidemic. Furthermore, the rollout for the Mammography Market industry too is taken into consideration as the aftereffects of the pandemic are gradually coming down since the beginning of 2022.

The situation is seen to improve in the second half of 2022 as more supplies resume normal. Vantage Market Research, while performing the analysis study for the Global Mammography Market has considered the impact of COVID-19 on the Mammography Market globally and the subsidiaries for the Mammography Market industry. In addition, the demand and supply chain is considered while estimating the current and forecast market size for the Global Mammography Market industry for all the regions and countries based on the following data points:

1. Impact Assessment of COVID-19 Pandemic

     1. North America

     2. Europe

     3. Asia Pacific

     4. Latin America

     5. Middle East & Africa

2. Quarterly Market Revenue Forecast by Asia Pacific 2020 & 2021

3. Key Strategies Undertaken by Companies to Tackle COVID-19

4. Long-Term Dynamics

5. Short-Term Dynamics

The report on Mammography Market highlights:

  • Assessment of the market
  • Premium Insights
  • Competitive Landscape
  • COVID Impact Analysis
  • Historic Data, Estimates, and Forecast
  • Company Profiles

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Regional Analysis:

North America Dominated the Global Mammography Market

North America is leading the Global Mammography Market in 2021 and is projected to continue the same during the estimated years. The region’s growth is due to the rise in the prevalence of breast cancer and the growing awareness relating to the early diagnosis of breast cancer. Also, enhanced healthcare infrastructure in North America is expected to propel the market growth. Moreover, the product launchings by several key participants and the rise in adoption of advanced Mammography Market devices with novel technologies in this region will probably stimulate the Mammography Market industry expansion.

Browse market data Tables and Figures spread through 144 Pages and in-depth TOC on "Mammography Market Size, Share & Trends Analysis Report by Product (Film Screen Systems, Digital Systems, Analog Systems, Biopsy Systems), by Technology (Breast Tomosynthesis, Computer Aided Detection (CAD), Digital), by Region (North America, Europe, Asia Pacific, Latin America) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)".

Recent Developments:

May 2022: Volpara Health, a worldwide provider of breast imaging analytics and analysis products for the early detection of breast cancer in the medical device and practice management software industry, showcased the updated products for its integrated platform for personalized breast care at the SBI/ACR Breast Imaging Symposium 2022. In addition, the company's AI-driven breast software tools offer Mammography Market quality and reporting, volumetric breast density measurements, and cancer risk assessment.

Key Questions Answered in The Report:

  • Which region will show the fastest and highest growth in the near future?
  • Which are the top five players and their weakness and strength of the Market?
  • What will be the future innovation in the upcoming six years?
  • Which application and product will lead the largest share of the Market?
  • What are the growth drivers, restraints and challenges of the industry?
  • What will be the CAGR and size of the Mammography Market for the base year and forecast period?     

This market titled “Mammography Market” will cover exclusive information in terms of Regional Analysis, Forecast, and Quantitative Data – Units, Key Market Trends, and various others as mentioned below:

ParameterDetails
Market Size Provided for Years2016-2028
Base Year2021
Historic Years2016-2020
Forecast Years2022-2028
Segments Covered• Product

   • Film Screen Systems

   • Digital Systems

   • Analog Systems

   • Biopsy Systems

   • 3D Systems

• Technology

   • Breast Tomosynthesis

   • Computer Aided Detection (CAD)

   • Digital

• Region

   • North America

   • Europe

   • Asia Pacific

   • Latin America

   • Middle East & Africa
Region & Counties Covered• North America

   • U.S.

   • Canada

   • Mexico

• Europe

   • U.K

   • France

   • Germany

   • Italy

   • Spain

   • Rest Of Europe

• Asia Pacific

   • China

   • Japan

   • India

   • South Korea

   • South East Asia

   • Rest Of Asia Pacific

• Latin America

   • Brazil

   • Argentina

   • Rest Of Latin America

• Middle East & Africa

   • GCC countries

   • South Africa

   • Rest Of Middle East & Africa
Companies Covered• Hologic Inc.

• Analogic Corporation

• Canon Medical Systems Corporation

• Fujifilm Corporation

• Siemens Healthcare

• Toshiba Medical Systems

• GE Healthcare

• Metaltronica

• Koninklijke Philips NV

• PLANMED OY
Report CoverageMarket growth drivers, restraints, opportunities, Porter’s five forces analysis,
PEST analysis, value chain analysis, regulatory landscape, technology landscape,
patent analysis, market attractiveness analysis by segments and North America,
company market share analysis, and COVID-19 impact analysis

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