Several research groups predict continued growth for the global mammography market.
The global mammography systems market will exceed $2 billion by 2023, according to Zion Market Research.
According to Zion Market Research, the global mammography systems market was valued at approximately $1.68 billion in 2017 and is expected to generate revenue of around $2.69 billion by the end of 2023, growing at a CAGR of around 8.1 percent between 2017 and 2023.
A report from MarketsandMarkets predicts that the breast imaging market is expected to reach $4.14 billion by 2021.
Transparency Market Research reports that the global mammography systems market was valued at approximately $1.5 billion in 2016 and is anticipated to expand at a CAGR of over 8 percent from 2017 to 2025 to reach $3.1 billion by 2025.
Mammography systems involve the use of low-energy ionizing radiations, such as X-ray, to detect unsuspected cancer. Health care organizations have undertaken numerous screening programs over the years to decrease cancer-related mortality rates, worldwide. Health care organizations, such as American Medical Association, the National Cancer Institute and the National Comprehensive Cancer Network recommend the use of routine screening mammograms for women above the age of 40 years to improve cancer screening participation to avoid the risk of developing breast cancer.
The rising health care expenditure, booming health care industry and growing demand for regular monitoring are some of the pivotal factors expected to propel the demand for mammography systems. Also, growing government initiatives to improve clinical interpretation and increase access to mammary gland cancer screening systems is one of the crucial factors expected to drive the demand for mammography systems over the forecast period. However, radiation exposure risks and generation of false positive or negative results are expected to impede market growth.
Based on the type, the market for mammography systems is segmented into analog mammography systems, digital mammography systems and breast tomosynthesis systems. The digital mammography systems segment is further sub-segmented into computed radiography systems and digital radiography systems. The digital mammography systems segment is expected to dominate the global mammography systems market during in the forecast period. The growing demand for technologically advanced breast cancer screening and diagnostic equipment is one of the crucial factors expected to drive the market in the coming years. The presence of favorable reimbursement policies and growing government support in improving screening results are also some of the key attributes that account for the largest revenue share of the global mammography market.
Based on technology, the market is segmented into 2D mammography, 3D mammography and combined 2D and 3D mammography. The 2D mammography segment is expected to dominate the global mammography systems market. The 3D mammography system market is the fastest growing product segment. The presence of the Medical Imaging Modernization Act, 2015, is one of the pivotal factors up surging the demand for 3D systems in the coming years. The rising demand for highly specific screening equipment to reduce call-back visits, false alarm and missed cancer diagnosis is also one of the main factors contributing to the increasing demand.
North America is expected to dominate the global mammography systems market. This is due to the increase in the prevalence of breast cancer among women in U.S. region. An increase in a number of mammography units in hospitals and diagnostic centers along with the number of units per million women in North America has led to the growth of mammography systems market.
