Mammography Systems Market to Grow at 7.4% CAGR to be Worth $3.79Bn, Globally, by 2027 - Exclusive Report by The Insight Partners

According to the new market research report "Mammography Systems Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Product (Analog Systems, Full Field Digital Mammography Systems, Breast Tomosynthesis Systems), Technology (Screen Film, 2D Mammography, 3D Mammography), End User (Hospitals, Ambulatory Surgical Centers, Others), and Geography", published by The Insight Partners, the global mammography systems market was valued at US$ 2,172.8 million in 2019 and is projected to reach US$ 3,790.5 million by 2027; it is expected to grow at a CAGR of 7.4% from 2020 to 2027. Get the Latest COVID-19 Analysis on mammography systems market at https://www.theinsightpartners.com/covid-analysis-sample/TIPRE00007753

Mammography Systems Market : Competition Landscape and Key Developments

Carestream Health Inc., General Electric Company, Hologic, Inc., Koninklijke Philips N.V., PLANMED OY, Fujifilm Corporation, IMS Giotto S.P.A., Canon Medical Systems, Siemens Healthineers AG, and Metaltronica S.p.A are among the key companies operating in the mammography systems market . These players are focusing on the expansion and diversification of their market presence and the acquisition of a new customer base, thereby tapping prevailing business opportunities.

• In November 2019, GE Healthcare introduced Serena Bright, the healthcare industry's first contrast-enhanced mammography solution for biopsy. This new mammography-guided biopsy technique offers an alternative to MR-guided breast biopsy, which can improve the patient experience and allow faster diagnosis capabilities.
• In March 2018, Planmed has received Health Canada has approval for the Clarity 2D digital mammography system and the Planmed Clarity 3D digital mammography tomosynthesis system. The Planmed Clarity system is a powerful tool for breast cancer screening and diagnostic follow-ups.
• In March 2018, The company has received The FDA approved for its MAMMOMAT Revelation. This new system comes with the new InSpect integrated specimen imaging tool and the new HD Breast Biopsy solution. These features are designed to expand precision medicine and improve the patient experience.

In 2019, North America dominated the market for the mammography systems is largely held by the US among the countries in North America. The growth of the mammography systems market  in the United States is expected to grow because it has well-developed healthcare facilities, presence of top market players increasing emphasis on preventive care, developed healthcare infrastructure, aging population, and increasing number of product launches. Additionally, innovations in the imaging technologies, growing prevalence of breast cancer, and growing demand for advanced patient diagnostics in the US and Canada are encouraging the use of the mammography systems, thereby boosting the demands for these products.

In North America, the US holds a significant share of the mammography systems market. The growth of the market in the country is primarily driven by increasing adoption of advanced medical device technologies, growing digitalization of medical devices, increasing emphasis on improving treatment outcomes and increasing prevalence of breast cancer

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The increasing prevalence of breast cancer in the US is likely to demand mammography systems. As per the breast cancer statistics by the Breast Cancer Organization, around one in eight women (about 12%) develops invasive breast cancer in her lifetime. The organization estimated that in 2020 there will be 276,480 new cases of invasive breast cancer in the U.S. and 48,530 new cases of non-invasive (in situ) breast cancer.

There are several initiatives by the government in order to prevent breast cancer. The Centers for Disease Control and Prevention's National Breast and Cervical Cancer Early Detection Program provides quality breast and cervical cancer diagnostic and screening services to underserved, low-income, and uninsured women and undertakes strategies to increase the screening rates in health systems. These services help in detecting breast and cervical cancer at the early stages.

Asia Pacific is expected to be the fastest-growing region due to growing prevalence of breast cancer. For instance, according to the Globocan report, in 2018, there were around 367,900 new cases of breast cancer and 97,972 deaths due to breast cancer in china. Additionally, increasing awareness of advanced imaging technologies coupled with developing healthcare infrastructure are further projected to drive Asia Pacific mammography systems market during the forecast period. Furthermore, constantly developing diagnostic imaging industry also drives the growth of the market in developing economies such as India, China, Australia, and Malaysia.

Growing  Breast Cancer Prevalence in  Mammography Systems Market:

The prevalence of breast cancer is growing worldwide and has resulted in increased demand for mammography systems for diagnosis. A few of the common symptoms of breast cancer are appearance of inverted nipples, changes in breast shape, development of lumps in breast, and red or scaly patch of skin, or sore nipples.

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As per the Breast Cancer Facts & Figures 2019–2020 report by the American Cancer Society, ~268,600 invasive breast cancer cases and 41,760 breast cancer deaths in the US were reported among women in 2019. Similarly, in Canada, ~27,400 women breast cancer cases and 5,100 deaths due to the same have been estimated by the Canadian Cancer Society for 2020. According to a Breast Cancer Facts report by the EUROPA DONNA, breast cancer is the most common cancer type in Europe, and it estimated the incidence of 562,500 breast cancer cases 2018 in the WHO Europe region. It also reported that ~20% of breast cancer cases in Europe occur in women with less than 50 years of age; ~36% occur at age 50–64, while the remaining cases occur in women above 64 years of age. Moreover, as per the Globocan report, in 2018, there were 911,014 breast cancer cases and 310,577 deaths due to breast cancer, of which 367,900 and 162,468 breast cancer cases were reported in China and India, respectively.

Mammography Systems Market: Segmental Overview

Based on product, the mammography systems market  is segmented into full field digital mammography systems, breast tomosynthesis systems, and analog systems. The full field digital mammography systems product segment accounted for more than 42.19% of the market share in 2019. In terms of technology, the mammography systems market  is segmented into screen film, 2D mammography, 3D mammography, and others.The 2D mammography technology segment held the largest share of the market in 2019. In terms of end user, the mammography systems market  is segmented into hospitals, ambulatory surgical centers and others.The other end users segment held the largest share of the market in 2019.

The COVID-19 outbreak has disturbed various trades and businesses across the world. Due to an increasing number of infected patients, healthcare professionals and leading organizations are distracting the flow of healthcare resources from research & development to primary care, which is slowing down the process of innovation. Research institutes, pharmaceutical, and biotech companies are engaged in collaborative work to address the COVID-19 outbreak. Additionally, majority number of the manufacturing companies are shifted towards manufacturing of protective equipment such kits, masks, and thermometers to fight against the crisis of covid 19. In addition, the COVID-19 pandemic is perplexing healthcare institutions in the region with unprecedented operational and clinical challenges. Mammography departments in healthcare facilities are encountering changes in routines and workflows to deal with comply with new sanitary standards and new diagnostic methods like tele-mammography consultations. Moreover, shift of priorities from breast imaging to corona virus diagnosis are leading to decline in mammography, leading to decline in market growth up to certain extent.

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