Mammography Market: Current Analysis and Forecast (2022-2028)

Report Description

Global Mammography Market is expected to grow at a significant rate of around 8% during the forecast period. Mammography is a novel diagnostic technique that utilizes X-rays to diagnose breast cancer. The mammography market is growing at high rates due to the rise in the geriatric population, the surge in the prevalence of breast cancer. For instance, breast cancer is 1.7 times more common in women over 65 than in women 45 to 64 years old, and 10 times more common in women under 45. Similarly, as per a research article published in the NCBI, breast cancer incidence rises with age, from 1.5 occurrences per 100,000 in women 20 to 24 years old to 421.3 cases per 100,000 in women 75 to 79 years old, with 95% of new cases occurring in women aged 40 and above. Apart from this, the rising government initiatives to promote breast cancer awareness is also having a positive impact on the market’s growth. For example, in October 2021, the Goa government launched ‘’Swasth Mahila, Swasth Goa’, an initiative for free breast cancer screening for 1 lakh women. In November 2021, Greater Chennai Corporation launched initiatives to raise awareness regarding breast cancer.

Hologic, Inc.; CANON MEDICAL SYSTEMS CORPORATION; Siemens Healthcare GmbH; Koninklijke Philips NV; FUJIFILM Holdings Corporation; GE HealthCare; Metaltronica S.p.A; PLANMED OY; Carestream Health; and Analogic Corporation are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report

“Amongst technology outlook, digital mammography category to hold a significant share in the market in 2020”

Based on the technology outlook, the market is categorized into breast tomosynthesis, CAD mammography, and digital mammography. Digital mammography held a significant share of the market in 2020. It is a specialized and sophisticated form of mammography which evaluates breast tissues for the presence of cancers by utilizing digital sensors and computers rather than X-ray films. Full field digital mammography is one of the commonly used ditial mammography. It has the potential to make significant advancements in the detection of breast cancer, such as lowered radiation doses, minimizing breast compression pressure, and thus enhancing detection. Thus, these factors are driving the segmental growth.

“Amongst product, the 3D systems category to witness higher CAGR during the forecast period”

On the basis of product, the market is segmented into film screen systems, digital systems, analog systems, and 3D systems. The 3D systems category is expected to witness higher CAGR during the forecast period. This is due to several benefits due to which hospitals and diagnostic clinics are switching to 3D systems as 2D systems are often ineffective in detecting every sign of cancer, surging the demand for additional screenings, which, in turn, boosts the overall diagnostic cost. Moreover, the widespread adoption of 3D systems is owing to technological benefits, such as increased breast cancer detection rates, the ability to manage bigger procedure volumes, and a more advantageous reimbursement scenario.

“Amongst end-use, the diagnostic center category to witness higher CAGR during the forecast period”

On the basis of end-use, the market is segmented into hospitals, speciality clinics, diagnostic centers, ambulatory surgical centers, and educational & research institutes. The diagnostic center is anticipated to witness high CAGR during the forthcoming years, attributed to rise in  awareness about breast cancer diagnosis among individuals. This has boosted the demand for mammography procedures used for diagnosis, therapy planning, and prevention of breast cancer. The availability of advanced mammography services in diagnostic centers of developed & developing economies, such as the U.S., Germany, the U.K., Japan, China, and India, is expected to propel the overall segment growth.

Mammography Oil Market Report Coverage

“North America to hold a significant share in the market”

In 2020, North America held a significant share of the global mammography market owing to rise in the prevalence of breast cancer. As per the American Cancer Society, an approximate 276,480 new cases of invasive breast cancer among women would be detected in 2020. Furthermore, 48,530 cases of in situ breast carcinoma in women have been discovered, and the number of breast cancer cases is predicted to rise in the coming years. In addition this, other factors such as the increasing investments in breast cancer screening initiatives is also encouraging market growth. For instance, the Society of Breast Imaging in the U.S. is dedicated to minimizing the burden of breast cancer and preserving patients’ lives. It offers a Research & Education Fund initiative that intends to provide grants to assist breast imaging research and education. Another, the National Breast Cancer Foundation (NBCF) is the organization in the U.S. that offers breast cancer education and free mammograms to women in need. In addition, the presence of highly developed healthcare infrastructure and increasing healthcare spending are among the key factors anticipated to drive the industry growth over the forecast period.

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

Customization Options:

The global mammography market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

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Research Methodology

Research Methodology for the Mammography Market Analysis (2022-2028)

Analyzing the historical market, estimating the current market, and forecasting the future market of the global mammography market were the three major steps undertaken to create and analyze the adoption of mammography in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global mammography market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of the mammography market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the mammography market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as product, technology outlook, modality, and end-use. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the mammography market. Further, we conducted factor analysis using dependent and independent variables such as various product, technology outlook, modality, and end-use of mammography. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the mammography market sector across the globe.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global mammography market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2028 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of revenue (USD) and the adoption rate of the mammography market across the major markets domestically
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the global mammography market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Market Engineering

The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global mammography market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of product, technology outlook, modality, and end-use in the global mammography market.

The main objective of the Global Mammography Market Study

The current & future market trends of the global mammography market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of the mammography market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
• Segments in the study include areas of product, technology outlook, modality, and end-use.
• Define and analysis of the regulatory framework for the mammography industry.
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
• Analyze the current and forecast market size of the mammography market for the major region.
• Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World.
• Company profiles of the mammography market and the growth strategies adopted by the market players to sustain in the fast-growing market
• Deep dive regional level analysis of the industry

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