by Mammography is a type of breast imaging that uses low-dose x-rays to detect cancerous tumors. It can visual tumors that cannot be felt during a physical exam and is often used as a screening tool to detect breast cancer in women who show no symptoms. Mammography allows doctors to find and diagnose breast cancers early, sometimes up to three years before a lump can be felt. Early detection is when a breast cancer is small and has not spread outside of the breast, which can lead to more treatment options and better survival rates.
The global mammography market is estimated to be valued at US$ 2360.16 Mn in 2023 and is expected to exhibit a CAGR of 6.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
The increasing demand for early breast cancer detection is one of the key drivers expected to flourish the mammography market over the forecast period. Mammography screenings allow physicians to detect breast cancers at early, often pre-symptomatic stages. According to the American Cancer Society, when breast cancer is confined to the breast, the 5-year relative survival rate is 99%. This survival rate declines to 27% if it has spread to distant parts of the body. Therefore, screening mammograms can help reduce mortality by finding cancers early. Another driver is rising awareness about breast cancer and importance of regular screening. Various initiatives by governments and non-profit organizations are being carried out to educate women about benefits of screening mammography.
Segment Analysis
The Mammography market can be segmented into type and end-use. Based on type, the market is segmented into Analog, Full-field Digital Mammography (FFDM) and 3D breast tomosynthesis. FFDM dominates the current market and holds around 70% share due to its higher accuracy and reproducibility compared to analog systems. Based on end-use, the market is segmented into hospitals, ambulatory surgical centers and others. The hospitals segment dominates the market due to rising cases of breast cancer screening in hospitals.
PEST Analysis
Political: Governments promoting breast cancer screening programs through incentives and subsidies to increase early stage diagnosis.
Economic: Rising healthcare spending and increasing disposable income in developing nations driving market growth.
Social: Rising awareness about breast cancer and importance of early detection through social media campaigns propelling the market.
Technological: Advancements in digital imaging technologies improving accuracy of mammography systems. Introduction of AI applications reducing artifacts and human errors.
Key Takeaways
The Global Mammography Market Size is expected to witness high growth during the forecast period. The global mammography market is estimated to be valued at US$ 2360.16 Mn in 2023 and is expected to exhibit a CAGR of 6.5% over the forecast period 2023 to 2030.
Regional analysis comprises: North America holds the largest share currently due to presence of major players and higher awareness levels around breast cancer screening. The region is expected to continue its dominance during the forecast period.
Key players related content comprises: Key players operating in the mammography market are Anhui Jucheng Fine Chemical Co, Ltd. (CJCC), Ashland Inc., BASF SE and Kemira. BASF SE holds leading share globally due to its diversified product portfolio and wide geographic presence.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
