SELBYVILLE, Del., Feb. 18, 2021 /PRNewswire/ -- According to the latest report "Mammography System Market by Product (Analog Systems, Full Field Digital Mammography System (FFDM), Breast Tomosynthesis System), Technology (Screen Film, 2D Mammography, 3D Mammography), End-use (Hospitals, Ambulatory Surgical Centers), Regional Outlook, Price Trends, Competitive Market Share & Forecast 2027", by Global Market Insights, Inc., the market valuation of mammography system will cross $4 billion by 2027. The rising incidence of breast cancer coupled with continuous technological advancement in the field of mammography devices will foster market growth.
Major factors augmenting the burden of breast cancer are the increasing geriatric population, history of breast cancer, dense breast tissue, obesity, alcohol consumption, and radiation exposure. Innovation in mammography devices allows the early detection of breast cancers. The mammography machines produce exceptionally sharp images and seamless transition between imaging mode and advanced clinical application. Thus, these features help in the early detection of breast cancer, thereby rendering it favorable for timely treatment protocol.
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The increasing number of product launches coupled with speedy product approval is positively impacting the mammography system market expansion. Introduction AI-based breast imaging technology is improving the clinical outcome and saving time. AI-based mammography devices can accurately and reliably classify breast tissues without any intervention. The introduction of such mammography devices has reduced the cost of treatment, owing to the reduction in false positive and abnormal interpretation. Thus, continuous technological advancements and the availability of advanced treatment options will create demand for mammography systems in foreseeable future.
Full field digital mammography (FFDM) dominated more than 66% of the market share in 2020 led by increasing adoption rate and significant improvement in clinical outcome. Moreover, these systems offer enhanced screening in young as well as dense breast tissue women. Thus, the superior benefits of full field digital mammography devices compared with other devices will boost the product demand.
Increasing use of 3D mammography devices in various applications of breast cancer is propelling the mammography system market value. The 3D mammography technology provides advanced images of breast tissues and characterization of breast lesions. Thus, availability of reimbursement to patients, low recall rates, and significant rise in detection of invasive cancer will fuel the segment growth during the forecast period.
The hospital segment is projected to reach over USD 2.5 billion by 2027. An increasing number of breast cancer cases globally will drive the number of mammography screenings in hospitals. The availability of high-end technology coupled with the presence of experienced radiologists also influences device usage. Furthermore, favorable reimbursement for mammography tests in hospitals and government initiatives will significantly contribute to the overall market revenue.
The Asia-Pacific mammography system market is expected to register a significant growth rate during the forecast period. The increasing incidence of cancer cases and the growing awareness about early diagnosis of cancer among young and adult women are driving the screening procedure demand in the region. In addition, growing healthcare expenditure, rising usage of novel technologies, and availability of mobile screening tools will further spur the market demand in the coming year.
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Major players operating in the global mammography system market include Analogic Corporation, Hologic, Canon Medical System Corporation (Toshiba Medical System Corporation), Fujifilm Holding Corporation, GE healthcare, Hologic, and Siemens Healthineers. Established industry leaders are continuously involved in product development and adoption of novel technologies. These companies are focusing on the enhancement of distribution networks to boost the product reach and sales.
Table of Contents (ToC) of the report:
Chapter 3 Mammography System Market Insights
3.1 Industry segmentation
3.2 Industry landscape, 2016 - 2027 (USD Million)
3.3 Industry impact forces
3.3.1 Growth drivers
3.3.2 Industry pitfalls & challenges
3.4 Growth potential analysis
3.4.1 By product
3.4.2 By technology
3.4.3 By end-use
3.5 COVID-19 impact analysis
3.6 Regulatory landscape
3.7 Reimbursement landscape
3.8 Technology landscape
3.9 Pricing analysis
3.10 Porter's analysis
3.11 Competitive landscape, 2020
3.12 PESTEL analysis
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Mammography System Market Growth Predicted at 7.8% Through 2027: GMI
Full field digital mammography (FFDM) dominated more than 66% of the market share in 2020 led by increasing adoption rate and significant improvement in clinical outcome.
SOURCE Global Market Insights, Inc.