May 25, 2024
Mammography Market

The Mammography Market Is Driven By Increasing Prevalence Of Breast Cancer

Mammography is a type of breast imaging that uses low-dose X-rays to detect breast cancers early before physical symptoms appear. It is currently the gold standard for breast cancer screening as it can identify tumours that are too small to feel. Mammography helps physicians determine if abnormalities in the breast are associated with cancer and guides them about the need for breast biopsies. Rising awareness regarding regular screening for early detection of breast cancer and favorable reimbursement for mammography tests across developed countries are fueling the demand for mammography systems globally. Furthermore, technological advancements such as digital mammography and 3D tomosynthesis which provide greater sensitivity and specificity compared to traditional mammography are witnessing increased adoption.

The global Mammography Market is estimated to be valued at US$ 2360.16 million in 2023 and is expected to exhibit a CAGR of 6.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

One of the key trends in the mammography market is the increasing adoption of computer-aided detection and diagnosis (CAD) technology. CAD systems assist radiologists in interpreting mammograms by automatically marking locations of suspicious abnormalities. Studies have shown that CAD improves diagnostic accuracy by reducing oversight errors. CAD is gaining widespread acceptance due to its ability to scale screening operations and address the shortage of skilled mammographers. Major players are focusing on integrating deep learning capabilities into CAD to make image readings more consistent and reliable. Another major trend is the launch of new applications of mammography such as breast tomosynthesis and molecular breast imaging. While tomosynthesis provides 3D views of the breast, molecular breast imaging utilizes specific radioactive tracers and gamma cameras to generate 3D functional images. These advanced applications are poised to transform breast cancer screening

Porter’s Analysis

Threat of new entrants: Low due to high capital investment requirement for mammography systems and established brand loyalty among patients.
Bargaining power of buyers: Moderate as buyers have multiple options but suppliers have differentiated products.
Bargaining power of suppliers: Moderate as some key components have limited substitutes but overall industry is diverse.
Threat of new substitutes: Low as mammography remains gold standard for breast cancer screening though new techniques are evolving.
Competitive rivalry: Intense as major players compete on factors like pricing, innovation and customer service.

Key Takeaways

The Global Mammography Market Demand is expected to witness high growth.

Regional analysis: Europe is the second largest market for mammography majorly due to increasing healthcare expenditure and government initiatives to spread awareness about breast cancer screening programs across countries. Asia Pacific region is expected to grow at fastest pace during the forecast period owing to high unmet medical needs, growing medical tourism industry and rising incidence of breast cancer.

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).

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it