LONDON, Jan. 22, 2024 (GLOBE NEWSWIRE) -- As per The Business Research Company’s Digital Mammography Global Market Report 2024, the digital mammography market has been witnessing rapid expansion, exemplifying a robust growth trajectory. Starting from a market size of $1.74 billion in 2023, digital mammography market is expected to surge to $1.95 billion in 2024 at an impressive Compound Annual Growth Rate (CAGR) of 11.9%. The forecast for the coming years remains optimistic, with projections indicating a further escalation to $2.91 billion in 2028 at a CAGR of 10.6%.
Key Drivers: Historical growth in the digital mammography market can be attributed to several key drivers. These include heightened breast cancer awareness, advancements in imaging accuracy, government initiatives and screening programs, the rising incidence of breast cancer, and the increasing preference for digital imaging among patients. Looking forward, the projected growth is fueled by factors such as integration with healthcare IT systems, a focus on preventive healthcare, advancements in breast imaging techniques, an expanding geriatric population, and global health initiatives.
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Trends Shaping the Market: Major trends expected in the forecast period include the implementation of full-field digital mammography (FFDM), digital breast tomosynthesis for screening and diagnosis, integration with Picture Archiving and Communication Systems (PACS), customization for specific patient groups, and collaborative efforts in research and development.
Government Initiatives Driving Growth: Government initiatives for research and development in healthcare are anticipated to play a pivotal role in propelling the digital mammography market's growth. Governments across the globe are allocating substantial funds and resources to support healthcare research, diagnostics, and treatment. For instance, in the UK, the government committed £260 million (US $270.65 million) in funding to boost healthcare research and manufacturing in 2022. Such initiatives contribute significantly to the advancement and adoption of digital mammography technologies.
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Segmentation and Leading Regions: The digital mammography market is segmented by product (2D Full Field Digital Mammography Tomosynthesis, 3D Full Field Digital Mammography Tomosynthesis), application (screening, diagnosis), and end-user (hospitals, diagnostic centers, other end users). While North America currently dominates the digital mammography market, Asia-Pacific is expected to emerge as the fastest-growing region in the digital mammography market in the forecast period.
Utilizing the Market Report: Major companies operating in the digital mammography market, including Siemens Healthineers AG, Konica Minolta Inc., and Philips Healthcare, can strategically leverage the market report to gain insights into market trends, identify growth opportunities, and navigate the competitive landscape. Healthcare providers, investors, and policymakers can use the comprehensive analysis to make informed decisions and contribute to the growth of the digital mammography sector.
Digital Mammography Global Market Report 2024 by The Business Research Company provides insights on the digital mammography market size, digital mammography market segments, digital mammography market trends, drivers and restraints, major competitors’ market positioning, revenues and market shares.
The Business Research Company has published over 7,500+ industry reports, covering more than 2,500+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
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