Mammography Market (By Product: Film Screen Systems, Digital Systems, Analog Systems, Biopsy Systems, 3D Systems; By Technology: Breast Tomosynthesis, CAD, Digital) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook 2022 – 2030

Published Date : May 2021 | No. of Pages : 150+ Pages | Category : Healthcare

The global Mammography market size is expected to be worth around US$ 13.8 billion by 2030. The global Mammography market size was valued at US$ 11.43  billion in 2020 and is anticipated to grow at a CAGR of 21.5% during forecast period 2022 to 2030.

Key Takeaway

  • By product, the digital systems segment held the dominant revenue share of more than 61% in 2021
  • The 3D systems product segment is projected to grow at a CAGR of 12.4% over the forecast period
  • By technology, in 2021, the digital mammography technology segment accounted for the largest revenue share of more than 67%
  • The breast tomosynthesis technology segment is predicted to grow at a CAGR of 12.5% over the forecast period
  • In 2021, North America accounted revenue share of around 42% 
  • Asia Pacific is anticipated to witness the fastest CAGR over the forecast period

Growth Factors

The market growth can be attributed to the rising initiatives by various governments and NGOs to raise awareness about early diagnosis of microcalcifications in breast tissue. Some significant organizations such as the National Breast Cancer Foundation, CDC, and Breast Cancer Organization are promoting the early diagnosis of mammary gland calcification, which is one of the crucial factors expected to drive the demand over the forecast period.

Based on a report published by the National Cancer Institute in 2020, it was stated that the proportion of women aged 45 to 65 years had increased to 81.1% in breast cancer screening. Major mammography manufacturers are introducing new products and increasing the number of approved products, which is further expected to impel the demand in the coming years.

Product Insights

The digital systems segment held the dominant revenue share of more than 61% in 2021 and is expected to witness considerable growth over the forecast period. Rising demand for technologically improved breast cancer screening systems is one of the main factors expected to drive the growth. Government-issued Acts, such as Medical Imaging Modernization Act, 2015, ordained to promote technological advancements, resulted in a surge of demand for the 3D system.

Furthermore, owing to its huge commercial availability and rising demand among healthcare professionals are contributing to the growth of the segment. Some of the key players operating majorly in this segment are Siemens Healthcare Private Limited and General Electric Company (GE Healthcare). In January 2019, Kiran Medical Systems, the radiology division of Trivitron Healthcare, launched a digital mammography system, Elite - Flat Panel Digital C-arm & Felicia.

The 3D systems segment is anticipated to be the fastest-growing segment with a CAGR of 12.4% over the forecast period. This is owing to several advantages, hospitals & diagnostic clinics are switching to 3D systems as 2D systems are often ineffective in detecting every sign of cancer, increasing the need for additional screenings, which, in turn, increases the overall diagnostic cost. 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.

Furthermore, the trend of 3D mammography system leasing contract agreements is increasing. Rental contract agreements allow end-users to pay a set fee for each 3D mammogram conducted utilizing 3D mammography technology provided by manufacturers at no cost. This enables low-income hospitals and diagnostic labs to implement this cutting-edge breast imaging technology.

Additionally, in recent years, some countries have implemented public mammography screening. In these public mammography screening programs, 3D mammography devices are employed to achieve the highest level of accuracy in the identification of breast cancer. Thus, the aforementioned factors are anticipated to contribute to the segment’s rapid growth in forthcoming years.

Technology Insights

In 2021, the digital mammography technology segment accounted for the largest revenue share of more than 67%, owing to the various advantages of the technology. Digital mammography is a specialized and sophisticated form of mammography that examines breast tissue for the presence of cancers using digital sensors and computers rather than X-ray films.

In most countries, conventional screen-film mammography (SFM) with a high spatial resolution has been the preferred choice for screening programs. However, with the introduction of digital mammography, a growing number of countries are shifting toward these newer systems, owing to their superior depiction of low-contrast objects, wider dynamic change, and enhanced diagnostic quality of images, particularly when evaluating denser breasts.

Moreover, they also have the added benefit of soft-copy visual displays and soft-copy reading, both of which are easily transferable. Mammography screening is now digital in many nations, including the U.K., providing greater precision, higher quality, and greater efficiency. As a result, digital mammography is becoming the standard screening method, although the new equipment is six times more expensive than traditional systems.

Furthermore, in comparison to analog systems, radiation exposure is reduced significantly. The most prevalent type of digital mammography used is full-field digital mammography. It has the potential to make substantial advancements in breast cancer diagnostics, such as lowering radiation doses, reducing breast compression pressure, and improving detection. All of these benefits will contribute to the market's growth over the forecast period.

The breast tomosynthesis technology segment is expected to witness the fastest CAGR of 12.5% over the forecast period. Digital breast tomosynthesis is a high-resolution limited-angle tomography technology that uses X-rays to create a 3D image of the breast. This new technique aids early identification of breast cancer. Digital breast tomosynthesis is very useful in analyzing dense breasts and can enhance the ability to detect breast cancer. It minimizes the number of false-positive readings (readings that identify normal tissue as abnormal) and the necessity for a biopsy. It is suitable for any woman, but it is especially good for those with dense breasts.

Furthermore, several major studies have indicated that combined 2D/3D mammography systems are superior to 2D mammography alone in the diagnosis of breast cancer. A large US study of 4,54,850 patients observed that combined 2D/3D Combination screening detected 5.5 cancers per 1,000 women, compared to 4.3 cancers for 2D screening alone, a 28 percent higher detection rate with combined 2D/3D mammography systems, according to the American Society of Clinical Oncology (ASCO) clinical trial report. Thus, increasing awareness of the usage of these systems, as well as high detection rates, are the primary driving the segment growth.

Regional Insights

North America dominated the market in 2021 with a revenue share of around 42% and is expected to exhibit considerable CAGR over the forecast period. The rising incidence of breast cancer is one of the major factors driving the market growth in North America. According to the American Cancer Society, 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 forthcoming years.

Numerous companies have begun to establish initiatives to assist with breast cancer tests. For example, Hologic Inc. announced the beginning of the Back to Screening campaign in August 2020, which may motivate women to schedule their postponed mammograms due to the COVID-19 pandemic. The National Breast Cancer Foundation (NBCF) is an organization in the United States 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 factors anticipated to drive the market growth.

Asia Pacific is anticipated to witness the fastest CAGR over the forecast period. The increased prevalence of breast cancer, high R&D investments in breast cancer therapies, and developments in breast imaging modalities are the primary growth drivers. Breast cancer is the most frequent malignancy in most Asian countries regardless of race or ethnicity, according to the Centers for Disease Control and Prevention (CDC).

According to GLOBOCAN 2018, the age-standardized incidence rate of breast cancer in Asia is 34.4 per 100,000 people. Thus, the increased prevalence of breast cancer and the region's expanding healthcare infrastructure are likely to fuel overall growth. The presence of developing countries, such as China, Japan, and India, is anticipated to boost the market growth. In addition, key players are making constant efforts to enter emerging markets of Asia Pacific, which is expected to boost the growth.

Scope of the Report

Report Coverage Details
Market Size US$ 13.8 billion by 2030
Growth Rate CAGR of 21.5% From 2021 to 2030
Base Year 2020
Historic Data 2017 to 2020
Forecast Period 2021 to 2030
Segments Covered Product, Technology
Regional Scope North America, Latin America, Europe, Asia Pacific, MEA
Companies Mentioned Hologic; Fujifilm; Siemens Healthcare; Phillips Healthcare; Toshiba Medical Systems, GE Healthcare; Metaltronica; I.M.S. Srl

 

Key Players

Fujifilm; Hologic; Phillips Healthcare; Siemens Healthcare; Toshiba Medical Systems, Metaltronica; GE Healthcare; and I.M.S. Srl. Hologic

Market Segmentation

  • Product Outlook 

    • Film Screen Systems

    • Digital Systems

    • Analog Systems

    • Biopsy Systems

    • 3D Systems

  • Technology Outlook 

    • Breast Tomosynthesis

    • CAD

    • Digital

  • Regional Outlook 

    • North America

      • U.S.

      • Canada

    • Europe

      • Germany

      • UK

    • Asia Pacific

      • China

      • Japan

    • Latin America

      • Mexico

      • Brazil

    • MEA

      • South Africa

The Mammography market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.

The report provides size (in terms of volume and value) of Mammography market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.

This report focuses on the global Mammography market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Mammography market development in United States, Europe and China.

It is pertinent to consider that in a volatile global economy, we haven’t just conducted Mammography market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.

In terms of production side, this report researches the Mammography capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.

In terms of consumption side, this report focuses on the consumption of Mammography by regions (countries) and application.

Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Mammography market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.

With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Mammography market companies.

Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Mammography market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.

The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.

Overall, this is an in-depth research report specifically for the Mammography industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.

The Mammography market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Mammography market.

Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Mammography market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.

Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Mammography market. These factors have benefited the growth of the global market for Mammography. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.

New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Mammography. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).

In this study, the years considered to estimate the market size of Mammography are as follows:

  • Historic Year: 2017-2020
  • Base Year: 2021
  • Forecast Year 2021 to 2030

Reasons to Purchase this Report:

- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Research Methodology:

In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

Market Size Estimation

Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).

The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.

Market Breakdown and Data Triangulation

After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.

Secondary Sources

Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.

Primary Sources

 In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.

The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.

The study objectives of this report are:

  • To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2030);
  • Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • To define, describe and forecast the market by type, application and region.
  • To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
  • To identify significant trends and factors driving or inhibiting the market growth.
  • To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
  • To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market

To strategically profile the key players and comprehensively analyze their growth strategies.


Featured Research Reports

  • Featured Research Reports

    Fetal And Neonatal Care Equipment Market (By Product: Fetal Care Equipment, Neonatal Care Equipment; By End-use) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook and Forecast 2022-2030

    Read more...
  • Featured Research Reports

    Pet Grooming Services Market (By Pet Type: Dogs, Cats; By Service Type: Massage/Spa & Others, Shear & Trimming; By Delivery Channel) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook and Forecast 2022-2030

    Read more...
  • Featured Research Reports

    Synthetic Small Molecule API Market (By Manufacturer: In-house, Outsourced; By Application: Cardiology, Oncology) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook and Forecast 2022-2030

    Read more...
  • Featured Research Reports

    Infectious Respiratory Disease Diagnostics Market (By Product Type: Instruments, Services; By Sample Type: Blood, NPS; By Application; By Technology) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook and Forecast 2022-2030

    Read more...
  • Featured Research Reports

    Pressure Mapping Systems In Healthcare Market (By Component: System, Sensors; By Product Application) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook and Forecast 2022-2030

    Read more...