by Mammography is the most effective method for early detection and diagnosis of breast cancer. It involves the use of low-dose x-rays to examine the human breast and detect any abnormalities such as breast tumors, lumps, calcifications. Mammography plays a key role in reducing mortality rates associated with breast cancer as it enables detection at an early localize stage which improves treatment options and recovery outcomes. The devices are used in breast imaging centers, diagnostic & screening facilities, hospitals & clinics to monitor patients at high risk of developing breast cancer. Development of digital mammography units that provide higher resolution images, reduced radiation dose exposure compared to conventional film mammography have further boosted adoption.
The global Mammography Market is estimated to be valued at US$ 2718.91 Mn in 2023 and is expected to exhibit a CAGR of 6.8% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Technological advancements are expected to drive the growth of the global mammography market. Key players are focusing on development of new 3D mammography systems that produce high-quality 3D images of the breast. For instance, in March 2021, Hologic Inc. launched its next generation 3D mammography system called 3Dimensions, which provides improved imaging to radiologists and reduces callback rates. Development of AI-enabled mammography is another trend, with systems being designed for automated detection of breast cancers and reduction of human error risk. This helps improve workflow and productivity. Rising awareness initiatives by governments and NGOs regarding importance of regular breast screenings will also positively impact the market by increasing number of patients undergoing mammography procedures.
Porter’s Analysis
Threat of new entrants: Low capital requirement and technology act as a barrier for new companies.
Bargaining power of buyers: Number of buyers are large in size with low switching cost. This increases their bargaining power.
Bargaining power of suppliers: Suppliers have moderate bargaining power due to availability of substitute components.
Threat of new substitutes: Emerging new diagnostic technologies like 3D mammography, MRI pose threat of substitution.
Competitive rivalry: Intense competition exists among existing players to gain higher market share.
Key Takeaways
The global Mammography Market size is expected to witness high growth. The global Mammography Market is estimated to be valued at US$ 2718.91 Mn in 2023 and is expected to exhibit a CAGR of 6.8% over the forecast period 2024 to 2031.
North America region currently dominates the market owing to rise in adoption of advanced mammography technologies and favourable government initiatives for breast cancer screening programs. Asia Pacific is expected to witness fastest growth during the forecast period majorly due to increase in awareness levels and healthcare expenditure.
Key players
operating in the Mammography market are GTL (Global Tel*Link Corporation), BI Incorporated (a subsidiary of GEO Group), Corrisoft, SuperCom Ltd., Spillman Technologies (a Motorola Solutions company), Tribridge (now DXC Technology), Appriss Inc., Northpointe Inc. (a subsidiary of Constellation Software), Tyler Technologies Inc., Capita PLC, IBM Corporation, Encartele Inc., Telmate LLC (a subsidiary of GTL), Keefe Group (a subsidiary of TKC Holdings Inc.), Securus Technologies Inc. (now part of Aventiv Technologies). Technological advancements by these companies to develop innovative mammography solutions will further assist in market growth.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
