The Mammography Systems Market size is projected to reach US$ 5.35 billion by 2031 from US$ 2.61 billion in 2022. The market is expected to register a CAGR of 8.5% in 2023–2031. Increasing innovation in mammography systems and collaboration among market players led to new product launches that are likely to remain key Mammography Systems Market trends.
Mammography Systems Market Analysis
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 the appearance of inverted nipples, changes in breast shape, development of lumps in the breast, a red or scaly patch of skin, or sore nipples. As per the Breast Cancer Organization report, 2023, breast cancer accounts for 12.5% of total cancer cases reported globally. Additionally, every year ~30% of newly diagnosed cancer among women are breast cancer. As per the same source, there were 2,800 new breast cancer are expected to be diagnosed in men during 2023. Therefore, the globally increasing prevalence of breast cancer among a large population is expected to generate demand for diagnosis and treatment which in turn support the growth of the mammography systems market.
Mammography Systems Market Overview
Breast cancer is one of the most common cancers affecting a large population globally. The increasing prevalence and incidence of breast cancer have increased the demand for accurate diagnosis and effective treatment options. The increasing prevalence of cancer has increased the research activities funds, and grants to increase the diagnosis rate globally to provide timely treatment. Moreover, there are various market players operating in the global market focusing on the development of advanced diagnostic systems which led to increased product launches and collaborations which in turn contributed to the growth of the mammography systems market.
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Mammography Systems Market: Strategic Insights
Market Size Value in US$ 2,172.8 million in 2019 Market Size Value by US$ 3,790.5 million by 2027 Growth rate CAGR of 7.4% from 2020 to 2027 Forecast Period 2020-2027 Base Year 2020
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Mammography Systems Market: Strategic Insights
| Market Size Value in | US$ 2,172.8 million in 2019 |
| Market Size Value by | US$ 3,790.5 million by 2027 |
| Growth rate | CAGR of 7.4% from 2020 to 2027 |
| Forecast Period | 2020-2027 |
| Base Year | 2020 |
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Mammography Systems Market Drivers and Opportunities
Increasing Public-Private Investments, Grants, and Funds to Favor Market
In the last few years, there has been an increase in investments in research activities focused on the early detection of breast cancer. For instance, in May 2023, the Victorian Medical Acceleration Fund grant helped BreastScreen Victoria to develop facilities and carry out research activities for the use of artificial intelligence (AI) in reading mammograms.
The Society of Breast Imaging in the US focuses on minimizing the impact of breast cancer and saving lives of the patients. It has a Research & Education Fund program that aims at providing funds to support the research and education for breast imaging. Further, in the UK, the government promises to invest an extra USD 12.49 million to provide 29 new breast cancer screening centers and approximately 70 lifesaving developments for the treatment and diagnosis of breast cancer.
Thus, increasing public-private investments, grants, and funds provides growth impetus to the mammography systems market.
Breast Cancer Screening Programs – An Opportunity in Mammography Systems Market
The growing implementation of preventive healthcare and disease diagnosis programs creates lucrative growth opportunities for the mammography systems market players. For instance, all provinces in Canada have breast cancer screening programs for women with 50–74 years of age. The Provincial Health Services Authority of British Columbia has a breast cancer screening program to offers simple, inexpensive tests to large population base; the program mainly aims toward the early diagnosis of breast cancer.
Additionally, in November 2023, FUJIFILM India launched an On-Ground Breast Cancer Screening and Awareness Campaign on National Cancer Awareness Day to promote early breast cancer detection. Fujifilm India pledges to carry out this initiative in 19 cities in collaboration with 35 cutting-edge diagnostic centers equipped with advanced mammography systems.
Mammography Systems Market Report Segmentation Analysis
Key segments that contributed to the derivation of the Mammography Systems Market analysis are product, technology, and end user.
- 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 segment held a larger market share in 2023.
- By technology, the 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 2023.
- In terms of end user, the market is segmented into hospitals, ambulatory surgical centers and others. The other segment dominated the market in 2023.
Mammography Systems Market Share Analysis by Geography
The geographic scope of the Mammography Systems Market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
North America has dominated the Mammography Systems Market owing to the Increasing adoption of advanced medical devices, technological advancements and the rising prevalence of breast cancer are projected to accelerate the growth of the mammography systems market. The US held the largest market share in 2023 owing to the increasing adoption of advanced medical device technologies, growing digitalization of medical devices, increasing emphasis on improving treatment outcomes and increasing prevalence of breast cancer. 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, breast cancer accounts for 12.5% of all new annual cancer cases worldwide. Additionally, there were ~297,790 new cases of invasive breast cancer are expected to be diagnosed among women along with 55,720 new cases of DCIS in the US during 2023. Moreover, Asia Pacific is anticipated to grow with the highest CAGR in the coming years.
Mammography Systems Market Report Scope
Mammography Systems Market News and Recent Developments
The Mammography Systems Market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for mammography systems and strategies:
- The company launched Mammomat B.brilliant, a new mammography system with wide-angle tomosynthesis. In tomosynsthesis, the tube moves around the breast at a wide 50° angle, which is the largest angle available on the market making it excellent tool for mammography. (Source: Siemens Healthineers AG, Press Release, 2023)
- The company launched all-in-one platform of artificial intelligence (AI) apps to support clinicians with breast cancer detection and improved workflow productivity called MyBreastAI Suite. With this initial release, MyBreastAI Suite integrates three AI applications from iCAD including ProFound AI for DBT, SecondLook for 2D Mammography and PowerLook Density Assessment to help support early detection and improve patient outcomes, as well as help radiology departments improve operational productivity. (Source: GE HealthCare, Press Release, 2023)
- The company launched new “Harmony” version of its Amulet Innovality mammography system. The “Harmony” version brings together improved diagnostic performance with new design themes to embellish and illuminate your mammography suite, creating an environment to put patients at ease. (Source: HiE, Newsletter, 2021)
Mammography Systems Market Report Coverage and Deliverables
The “Mammography Systems Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Market dynamics such as drivers, restraints, and key opportunities
- Key future trends
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Product, Technology, End User, and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Saudi Arabia, South Africa, South Korea, Spain, United Arab Emirates, United Kingdom, United States
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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