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Mammography Market

Global Market Study on Mammography: Rising breast cancer incidences to augment sales of mammography

Global Mammography Market by Product (Film Screen Systems, Digital Systems, Analog Systems, Biopsy Systems, 3D Systems)

Mammography Market Size (2024-2033)

Newly-released Mammography industry analysis report by Persistence Market Research shows that global sales of Mammography in 2023 were held at US$ 2.3 Billion. With a CAGR of 11.6% from 2024 to 2033, the market is projected to reach a valuation of US$ 6.9 Billion by 2033. Digital Systems are expected to be the highest revenue-generating product type, which is expected to grow at a CAGR of 11.6% from 2024 to 2033.

Attribute

Details

 Market Size (2024)

US$ 2.5 Billion

Projected Market Value (2033)

US$ 6.9 Billion

Global Market Growth Rate (2024 to 2033)

11.6%

U.S. Mammography Market CAGR (2024 to 2033)

11.9%

Key Companies Profiled

  • Hologic Inc.
  • Analogic Corporation
  • Canon Medical Systems Corporation
  • Fujifilm Corporation
  • Siemens Healthcare
  • Toshiba Medical Systems
  • GE Healthcare
  • Metaltronica
  • Koninklijke Philips NV
  • PLANMED OY
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Revenue of Mammography from 2018 to 2022 Compared to Demand Outlook for 2023 to 2033

As per the Mammography industry research by Persistence Market Research - a market research and competitive intelligence provider, historically, from 2018 to 2022, the market value of the Mammography industry increased at around 9.4% CAGR, wherein, countries such as the U.S., China, Japan, U.K., and South Korea held a significant share in the global market.

Breast cancer is more common in the elderly and those who suffer from hormonal abnormalities. Menopausal hormone therapy, for example, raises the risk of breast cancer after menopause. The global market for mammography is likely to be driven by several factors, including an aging population and an increase in the number of cases of hormonal imbalances.

This industry is also projected to be driven by increased awareness of mammography procedures. However, barriers to market growth include lack of awareness, patient discomfort, and adverse effects associated with mammography.

The worldwide market is being driven by a rapid increase in the number of breast cancer cases, technical breakthroughs in breast imaging techniques, and increased actions and funding by government and private organizations for breast cancer monitoring programs. Owing to this, Mammography Market is projected to grow at a CAGR of 11.6% over the coming 10 years.

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What are the key drivers for the Mammography Market growth?

Mammography has become one of the most sophisticated methods for detecting breast cancer early. It has substantially aided medical authorities in reducing the global burden of breast cancer. The rising prevalence of breast cancer is driving the growth of the mammography industry. Breast cancer was diagnosed in around 2.3 million women worldwide in 2020, according to the World Health Organization. It must be detected early in order to begin adequate treatment and, as a result, increase the odds of survival. As a result, the mammography method is becoming more widely employed in healthcare institutions.

Similarly, rising incidences of hormonal imbalance, an aging population, and increased awareness among women about breast cancer, its detection, and treatment will continue to drive mammography equipment sales in the future.

Furthermore, technical improvements in mammography systems, such as the introduction of 3-D imaging solutions and an increase in the number of hospitals, diagnostic centers, and specialized centers, are expected to propel the market forward in the forthcoming years.

Mammography is a non-invasive medical imaging and diagnostic procedure that employs low-dose X-rays to check for tumors in the breast tissue. It has become one of the most widely utilized methods for detecting aBillionormalities when there are no symptoms. It has made a substantial contribution to the worldwide reduction in breast cancer mortality.

Many mammography solutions or types, such as breast tomosynthesis, film screen systems, and X-rays, are employed for the early detection of breast cancer. Often known as screen-film mammography, film-screening systems are still the gold standard for detecting breast cancer.

Various government and non-government groups are investing heavily in breast cancer screening in order to reduce the total burden. This will continue to generate market growth with tailwinds in the future. Furthermore, the availability of advantageous reimbursement policies in many developed areas is boosting the market growth.

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What are the challenges faced by the Mammography Market?

Despite the growing popularity of mammography for breast cancer diagnosis, a number of difficulties are limiting market expansion to a great extent. Radiation risk, significant capital expenditure, and a lack of information regarding mammography equipment are some of the key factors in several emerging and poor regions of the world.

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Region-wise Analysis

Which Region is projected to Offer the Largest Opportunity for Mammography?

With a CAGR of over 11% from 2023 to 2033, North America is expected to remain the largest market throughout the analysis period. Due to multiple mergers, partnerships, and acquisitions by key players, the regional market is expected to grow at a significant pace during the forecast period, grossing an absolute dollar opportunity of US$ over 2 Billion from 2023 to 2033.

Country-wise Analysis

U.S. Mammography Market Analysis

The market in the U.S. is projected to reach a valuation of US$ 2.2 Billion by 2033. Due to the rising prevalence of breast cancer, rising awareness among people about the importance of diagnostic screening for initiating early treatment, and increased spending by government and private organizations in research and development activities, the U.S. is expected to maintain its dominance in the global market. Because of increased breast cancer rates, the availability of sophisticated diagnostic methods, and favorable government funding, the United States remains the most lucrative market for mammography in North America.

In 2022, the American Cancer Society estimates that 287,850 new instances of invasive breast cancer will be identified in the United States. During the projected period, this will continue to boost the mammography market in the United States.

U.K. Mammography Market Analysis

The market in the U.K. is expected to reach a valuation of US$ 318 Million by 2033. Growing with a CAGR of 12.1% in the forecast period, the market in the country is projected to garner an absolute dollar opportunity of around US$ 215.9 Million.

Japan Mammography Market Analysis

In Japan, the market is expected to grow at a CAGR of 13.2% from 2023 to 2033, reaching around US$ 298 Million by 2033. The market in the country is expected to gross an absolute dollar opportunity of US$ 211.3 Million during the forecast period.

South Korea Mammography Market Analysis

The market in South Korea is expected to reach a valuation of around US$ 129.1 Million by 2033, growing at a CAGR of 9.4% from 2023 to 2033. The market in the country is expected to witness an absolute dollar opportunity of around US$ 77.6 Million.

Category-wise Insights

Which Mammography Product Type will be most preferred?

The Digital System segment is the most preferred in the mammography market, which is expected to grow at a CAGR of 11.6% from 2023 to 2033. One of the key factors likely to increase sales is a surge in demand for technologically advanced breast cancer-screening systems. 3D-based mammography is projected to garner significant growth in the forthcoming years. The Medical Imaging Modernization Act of 2015, which was enacted to promote technological advances, resulted in significant growth in the 3D systems-based mammography market.

Competitive Analysis

Key players in the Mammography Market include Hologic Inc., Analogic Corporation, Canon Medical Systems Corporation, Fujifilm Corporation, Siemens Healthcare, Toshiba Medical Systems, GE Healthcare, Metaltronica, Koninklijke Philips NV, and PLANMED OY.

A few recent developments of key Mammography providers are as follows:

  • In December 2020, Hologic Inc. stated that its Genius AI Detection technology, received FDA clearance in the United States. It is a deep learning-based software to help radiologists discover subtle potential cancers in breast tomosynthesis images.
  • In November 2020, Hologic Inc. and RadNet established a partnership to accelerate the development of artificial intelligence technologies for breast health. Data exchange, research and development, and an upgrade of RadNet's fleet of Hologic mammography systems to imaging technology could all be part of the agreement.
  • In September 2020, GE Healthcare and Candelis Inc. established a partnership to improve the Senographe Pristina Mammography System's mammography workflow, image management, and storage capabilities.

Similarly, recent developments in the Mammography Market have been tracked by the team at Persistence Market Research, which is available in the full report.

Market Segments Covered in Mammography Industry Analysis

By Product Type

  • Film Screen Systems
  • Digital Systems
  • Analog Systems
  • Biopsy Systems
  • 3D Systems

By Technology

  • Breast Tomosynthesis
  • CAD
  • Digital

By Region

  • North America
  • Latin America
  • Europe
  • APAC
  • MEA

- Companies Covered in This Report -

  • FUJIFILM HOLDINGS CORPORATION
  • HOLOGIC INC.
  • KONINKLIJKE PHILIPS N.V.
  • SIEMENS HEALTHCARE GMBH (SIEMENS HEALTHINEERS)
  • CANON MEDICAL SYSTEMS CORPORATION

- Frequently Asked Questions -

The global market is worth more than US$ 2.3 Billion at present.

The market value is projected to increase at a CAGR of around 11.6% from 2023 to 2033.

The market value increased at a CAGR of around 9.4% from 2018 to 2022.

The rising prevalence of breast cancer, favorable government initiatives, and technological advancements are the key drivers for propelling the Mammography Market.

The key players in the Mammography Market are Hologic; Fujifilm; Siemens Healthcare; Phillips Healthcare; Toshiba Medical Systems, GE Healthcare; Metaltronica; and I.M.S. Srl.

Top 5 countries driving demand for Mammography are the U.S., China, Japan, U.K. and South Korea.

The U.S. will account for over 31% of global Mammography demand in 2033 with a CAGR of 11.9%.

The market for Mammography is projected to expand at a CAGR of around 11.6% from 2023 to 2033 with a global market size of US$ 6.9 Billion.

While the market in South Korea is expected to grow at nearly 9.4%, the market in Japan is projected to register a CAGR of nearly 13.2% from 2023 to 2033

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