Mammography Market

The rising incidence of breast cancer is driving the market growth

Market CAGR for mammography is driven by the rising incidence of breast cancer in developed and developing countries. This rising incident has increased the demand for technologically advanced instruments focusing on early detection. The growing number of breast cancer patients has pushed governments across the globe to increase awareness regarding the significance of the early detection of breast cancer. As per the American Cancer Society, breast cancer is the second largest cause of cancer-related deaths in women across the world.

Around 2,261,419 new breast cancer cases were diagnosed in women, and 684,996 women died due to breast cancer worldwide in 2020.

Favorable initiatives for breast cancer screening or an increase in the number of breast cancer screening programs or campaigns are expected to boost the growth of the  mammography market. For instance, in October 2020, the Kao Group of Japan launched the 'Kao Group Pink Ribbon Campaign 2020' in prominent cities across Japan. The campaign has been operating since 2007 to convey the significance of early detection of breast cancer to as multiple people as possible. Breast cancer is presently the most common type of cancer in Japanese females, driving the growth of the mammography market revenue.

The rising incidence of breast cancer is creating a higher demand for mammography as it is an essential screening element for early detection and diagnosis. The need for timely and accurate breast cancer detection is driving the growth of the mammography market. Governments and healthcare organizations are implementing breast cancer screening programs and awareness campaigns to promote early detection and reduce breast cancer-related mortality. These initiatives and reimbursement policies drive the demand for mammography services and contribute to market growth. Increasing healthcare expenditure in many countries and improved access to healthcare services are boosting the demand for mammography.

Investments in healthcare infrastructure, advancements in medical technology, and growing disposable incomes support the market's growth.

Advancements in technology and computer programming have led to an increased involvement of computer-automated analyses in medical image interpretation. This is driven by the need for more accurate and efficient workflows in imaging interpretation. In breast imaging, FDA-approved artificial intelligence (AI) algorithms are employed to support radiologists. AI automatically scans all breast photos, identifying regions of interest that may include suspicious malignancies, driving the market growth.

The Global Mammography Market Industry is projected to maintain a steady trajectory, with a value of 2.98 USD Billion from 2024 to 2035. The compound annual growth rate (CAGR) for this period is estimated at 0.0%, suggesting a stabilization in market dynamics. Factors such as technological advancements, increased awareness, and government initiatives are expected to contribute to this stability. However, the market may also face challenges, including economic fluctuations and varying healthcare policies across different regions. Overall, the market appears poised for a consistent yet cautious growth phase.

The rising incidence of breast cancer globally is a significant factor propelling the Global Mammography Market Industry. Statistics indicate that breast cancer remains one of the most common cancers among women worldwide. This alarming trend has prompted healthcare providers to emphasize the importance of regular mammography screenings. As awareness of breast cancer risks increases, more women are seeking preventive care. This growing demand for screening services is likely to sustain the market's value at 2.98 USD Billion through 2035, indicating a persistent need for effective diagnostic tools.

Government initiatives aimed at improving breast cancer screening are significantly influencing the Global Mammography Market Industry. Many nations are allocating funds to enhance access to mammography services, particularly in underserved regions. For example, public health policies are increasingly mandating insurance coverage for routine screenings, which encourages more women to participate. These efforts are crucial in reducing disparities in healthcare access and ensuring that women receive timely screenings. As a result, the market is likely to remain stable, with a projected value of 2.98 USD Billion from 2024 to 2035.

The Global Mammography Market Industry is experiencing growth due to heightened awareness surrounding breast cancer. Educational campaigns and initiatives by health organizations have led to increased screening rates. For instance, in many countries, public health programs are promoting regular mammography screenings, particularly for women aged 40 and above. This awareness is crucial as early detection significantly improves treatment outcomes. As a result, the market is projected to maintain a value of 2.98 USD Billion in 2024, reflecting the importance of proactive health measures in combating breast cancer.

Technological innovations in mammography equipment are driving the Global Mammography Market Industry forward. The introduction of digital mammography and 3D tomosynthesis has enhanced image quality and diagnostic accuracy. These advancements allow for better detection of abnormalities, which is vital for effective treatment planning. Furthermore, the integration of artificial intelligence in mammography systems is streamlining workflows and improving patient outcomes. As these technologies become more widely adopted, they are expected to sustain the market's value at 2.98 USD Billion through 2035, indicating a stable yet evolving landscape.

The aging population is a critical driver for the Global Mammography Market Industry. As life expectancy rises, the number of women at risk for breast cancer increases, necessitating regular screenings. Older women are more likely to develop breast cancer, which underscores the importance of mammography in this demographic. Consequently, healthcare systems are adapting to meet the growing demand for screening services. This trend suggests that the market will maintain its value at 2.98 USD Billion in 2024, reflecting the ongoing need for effective breast cancer detection strategies.

By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American mammography market will dominate owing to high R&D investments in breast cancer therapies, an enhanced prevalence of breast cancer, and developments in breast imaging modalities that will boost the market growth in this region. Further, the German mammography market held the largest market share, and the UK mammography market was the fastest-growing market in the North American region.

Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2 MAMMOGRAPHY MARKET SHARE BY REGION 2022 (USD Billion)

Source Secondary Research, Primary Research, MRFR Database, and Analyst Review

Europe's mammography market accounts for the second-largest market share due to the availability of the most delinquent mammography systems, improved healthcare facilities, increased healthcare expenditure, and rising per capita income. Further, the German mammography market held the largest market share, and the UK mammography market was the fastest-growing market in the European region.

The Asia-Pacific mammography market is expected to grow at the fastest CAGR from 2023 to 2032. This is due to the presence of well-established healthcare facilities, and increasing awareness about the importance of early diagnosis of breast cancer will boost the market growth. Moreover, China’s mammography market held the largest market share, and the Indian mammography market was the fastest-growing market in the Asia-Pacific region.

Key market players are supporting heavily R&D to extend their product lines, which will support the mammography market growth even more. Market participants are also undertaking multiple strategic activities to enhance their footprint ly, with important market developments such as new product launches, consolidations and acquisitions, higher investments, contractual agreements, and collaboration with other enterprises. To enhance and survive in a more competitive and rising market climate, the mammography industry must deliver cost-effective items.

Manufacturing locally to minimize operational prices is one of the major business tactics manufacturers utilize in the mammography industry to benefit clients and increase the market sector. Major players in the Mammography market, including Canon Inc., FUJIFILM Holdings Corporation, GENERAL MEDICAL ITALIA, Siemens Healthcare, Villa Systems Medical SpA, and others, are attempting to enhance market demand by investing in research and development operations.

Fujifilm Corp is a provider of imaging and information solutions. The company's product portfolio includes optical devices, digital cameras, photographing sensitive materials, functional films, imaging sensor materials, graphic systems, recording media, touchscreen panel materials, nutritional supplement products, hair care products, X-ray imaging devices, ultrasound devices, interchangeable lenses for digital cameras, electronic materials and industrial products, and office printers. Fujifilm business products include medical systems, graphic systems, optical devices, recording media, industrial products, display materials, and inkjets. It sells its products to individual consumers and business enterprises.

In October 2021, FUJIFILM Canada Inc. received a Health Canada medical device license for its ASPIRE Cristalle digital mammography solution. It also expanded its partnership with Christie Innomed to offer the product across every province in Canada.​

Hologic Inc manufactures, develops, and supplies diagnostic products, medical imaging systems, and surgical products. It delivers products that aid the diagnosis of human diseases, GYN surgical products, breast imaging, and related products and accessories, such as endometrial ablation systems and hysteroscopic tissue removal systems, and skeletal health products, including mini C-arm imaging products, and dual-energy X-ray bone densitometry systems. The firm offers solutions to surgeons, clinical laboratories, hospitals, and healthcare providers. Hologic delivers its products and services via direct deals and a network of independent distributors and sales agents. In December 2020, Hologic Inc. proclaimed U.S.

FDA approval for its Genius AI Detection technology, a unique deep learning-based software developed to aid radiologists in noticing subtle potential cancers in breast tomosynthesis images.