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 refers to a specific type of imaging test that uses low-dose x-rays to examine breasts. It helps in the early detection of breast cancer. Mammography allows doctors to locate tumors that are too small to feel. Mammography is considered the most effective breast cancer screening tool available.
Market key trends:
Technological advancements in mammography equipment is one of the key trends being witnessed in the market. Manufacturers are increasingly focusing on developing mammography equipment integrated with artificial intelligence capabilities. AI helps in analyzing breast images and provides decision support to radiologists to improve diagnostic accuracy. It processes massive volumes of prior mammograms and clinical data to better identify subtle cues that human eyes may miss. This enhances productivity and efficiency of radiologists.
Segment Analysis
The global mammography market is segmented by technology, end-user, and geography. Based on technology, the market is divided into analog mammography and digital mammography. Digital mammography dominated the market in 2023 due to its advantages over analog mammography, such as improved image quality, ability to store images digitally, and lower radiation dose. Based on end-user, the market is classified into hospitals, diagnostic centers, ambulatory surgical centers, and specialty clinics. Hospitals accounted for the largest share in 2023 owing to the availability of advanced breast cancer diagnostics equipment, modern medical facilities, and presence of skilled healthcare professionals.
Key Takeaways
The Global Mammography Market Size is expected to reach US$ 2360.16 Mn in 2023 and is projected to grow at a CAGR of 9.0% during 2023-2030. Growing prevalence of breast cancer and increasing awareness about early detection are fueling market growth. Regionally, North America dominated the market in 2023 and is expected to continue its dominance over the forecast period. This can be attributed to rising geriatric population, which are at high risk of developing breast cancer, and favorable government initiatives to promote screening programs.
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. Hologic Inc. holds the leading position in the global market owing to its strong product portfolio in mammography systems and imaging technologies.
The North America region holds the largest share in the global mammography market and is expected to continue dominating over the forecast period. Factors such as increasing healthcare expenditure, presence of leading market players, and rising awareness regarding early screening for breast cancer are fueling market growth in the region.
The Asia Pacific region is projected to grow at the fastest CAGR during the forecast period due to rapidly developing healthcare infrastructure, improving reimbursement scenario, rising medical tourism, and increasing incidence of breast cancer cases in emerging economies of China and India.
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