Mammography is a medical procedure that involves the use of low-radiation X-rays to diagnose tumors in the human breast. Mammography equipment, known as mammograms, is primarily used for both diagnostic and screening purposes. Its main objective is the early detection of breast cancer through the identification of microcalcifications, which are tiny specks of calcium deposits scattered throughout the mammary gland. Mammography plays a critical role in reducing mortality from breast cancer through early detection. It is recommended as a standard screening procedure for breast cancer worldwide. Mammography systems are categorized into three types: analog systems, computed radiography (CR) systems, and full-field digital mammography (FFDM).
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The growth of the mammography market is attributed to various factors, including government and NGO initiatives aimed at raising awareness about the early diagnosis of breast tissue macrocalcifications. Prominent organizations such as the National Breast Cancer Foundation, the CDC, and the Breast Cancer Organization advocate for the early diagnosis of mammary gland calcification, which is a crucial driver of market demand.
Key drivers of the mammography market include the increasing incidence of breast cancer over the past 25 years. In 2015, the American Cancer Society estimated 292,130 new cases of breast cancer. Additionally, the growing demand for and recent launches of 3D mammography systems by major players are expected to boost market growth during the forecasted period. For example, Hologic offers 2D and 3D imaging-guided breast biopsies through the Affirm prone biopsy system. Vendors are focusing on technological advancements, new product launches, and strategic positioning in emerging economies, all of which are expected to drive the global mammography market’s growth.
Market Analysis
The “Global Mammography Market” is estimated to witness a CAGR of 15.03% during the forecast period from 2017 to 2023. The market is analyzed based on three key segments: types, end-users, and regions.
Regional Analysis
The regions covered in the report include the Americas, Europe, Asia Pacific, and the Rest of the World (ROW). The Americas are expected to lead the mammography market, followed by Europe. Asia Pacific and ROW regions are emerging markets, with India considered one of the most attractive economies among them. Companies like Philips Healthcare and Hologic execute breast cancer awareness programs in collaboration with leading hospitals and healthcare agencies in developed countries to reach more patients.
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Product Type Analysis
The Global Mammography market can be segmented into the following types of mammography devices used for screening: Analog Mammography, 2D Mammography, and 3D Mammography. The global 3D digital mammography market is expected to experience rapid growth during the forecast period, primarily due to the replacement of 2D mammography by 3D mammography in high and mid-tier hospitals in developed countries.
Digital breast tomosynthesis (DBT) promises to reduce overall healthcare costs by lowering the recall rates of women for breast cancer screening, making it beneficial for medical insurers. The 2D Mammography segment generated the highest revenue in 2016 and is expected to dominate the market during the forecasted period due to price differences between 2D and 3D mammograms. The market is also witnessing various mergers, acquisitions, and collaborations among top players, which are shaping the future of the Global Mammography market.
Key Players
Key players in the Global Mammography market include Hologic Inc., Philips Healthcare, Siemens Healthineers, GE Healthcare, Fujifilm Holding Corp., Toshiba Medical Systems Corp., Planmed Oy, Carestream Health Inc., and other prominent and niche players.
Competitive Analysis
The Global Mammography market is highly fragmented, with the presence of both large and small-to-medium vendors. Technological advances and product upgrades are expected to increase competition among vendors. The market is dynamic, with a few major players accounting for more than half of the worldwide revenue.
Benefits
The report offers comprehensive insights into the adoption and usage rate of mammography among end-users and regions. This information can assist key stakeholders in understanding major trends, drivers, investments, initiatives by vertical players, and government efforts to promote mammography screening in the coming years. Additionally, it provides details about commercial products available in the market and highlights major challenges that may impact market growth. The report also outlines key business opportunities for stakeholders looking to expand their operations and revenue in specific verticals, helping them make informed investment decisions.
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Market Dynamics:
Surging air traffic:
- As the global aviation industry continues to expand, there is a corresponding increase in market demand.
Heightened emphasis on safety and reliability:
- The aerospace and defense sector places significant importance on ensuring safety and reliability, which drives the need for top-notch market offerings.
Growing commitment to environmental sustainability:
- The aerospace and defense industry is increasingly dedicated to reducing its carbon footprint, resulting in the adoption of sustainable aviation fuels.
Escalating globalization:
- The growth of international trade and travel propels the demand for market solutions.
Increasing desire for private air transportation:
- The rising number of affluent individuals and their preference for exclusive air travel are generating fresh opportunities in the market.
Expanding utilization of digital fuel management systems:
- The integration of digital fuel management systems facilitates efficient fuel consumption and reduces associated costs.
Advancements in fuel cell technology:
- Ongoing developments in fuel cell technology unlock new possibilities for the production of sustainable market alternatives.
Mounting demand for air cargo transportation:
- The flourishing e-commerce sector fuels an increasing need for air cargo transportation, thereby driving the demand for market offerings.
Rising defense budgets:
- Governments worldwide are augmenting their defense spending, leading to heightened market demand.
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