Global Mammography Market Nears $4 Billion

The breast imaging and mammography markets continue to grow amid a more educated global population, increased awareness and advanced technology.

Grand View Research predicts the global mammography market will approach $4 billion within a decade.

“The global mammography market is expected to reach a value of $3.8 billion by 2025,” according to a report by Grand View Research Inc. “The market growth can be attributed to the rising initiatives by various governments and NGOs to raise awareness about early diagnosis of microcalcifications in breast tissue. Some significant organizations such as the National Breast Cancer Foundation, CDC, and Breast Cancer Organization are promoting the early diagnosis of mammary gland calcification, which is one of the crucial factors expected to drive the demand over the forecast period.”

“Based on a report published by the National Cancer Institute in 2015, it was stated that the proportion of women aged 45 to 65 years had increased to 81.1 percent in breast cancer screening,” according to Grand View Research. “Major mammography manufacturers are introducing new products and increasing the number of approved products, which is further expected to impel the demand in the coming years.”

“In January 2016, FDA approved a new manual for digital mammography quality control by the American College of Radiology. The growing number of awareness campaigns to promote womens’ health services is also anticipated to propel growth,” Grand View Research added.

MarketsandMarkets predicts even more growth.

“The market is expected to reach $4.14 billion by 2021, at a CAGR of 8.5 percent from 2016 to 2021,” according to MarketsandMarkets.

“Growth in the breast imaging market is driven by factors such as the rising incidence of breast cancer globally; growing government investments and funding for breast cancer treatment and related research; increasing awareness about early detection of breast cancer; rising geriatric population; technological advancements in breast imaging modalities; and launch of advanced breast imaging systems capable of detecting cancer in women with dense breast tissues,” according to MarketsandMarkets.

“In addition, the growing demand for breast imaging in emerging Asian countries, and technological advancements in breast cancer detection are expected to offer high growth opportunities for market players. However, factors such as high installation cost of breast imaging systems, side-effects of radiation exposure, and errors in breast cancer screening and diagnosis are restricting the growth of the global breast imaging market.”

“North America is estimated to be the largest regional segment in the global breast imaging market in 2016, followed by Europe,” MarketsandMarkets reports.

Some of the key industry players are Fujifilm, Hologic, Philips Healthcare, Siemens Healthineers, Toshiba Medical Systems Corp. and GE Healthcare.

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