Report Ocean has published a new report on the in Mammography Systems Market in diverse regions to produce a report with more than 250+ pages.
The global mammography systems market held a market value of USD 2,548.8 million in 2021 and is projected to reach USD 4,765.0 million by the year 2030. The market is projected to list a CAGR of 7.5% during the forecast period.
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One of the main reasons projected to propel demand for mammography systems throughout the forecast period is the rising prevalence of breast cancer and the rising demand among patients for early-stage diagnosis. Some of the key elements anticipated to fuel the industry’s growth include expanding government initiatives to promote clinical interpretation and greater accessibility to breast cancer screening systems.
The COVID-19 pandemic significantly impacted breast imaging procedures. Lockdowns and other limitations imposed by governments throughout the world have impacted market demand. Governments have put rules in place that delay elective and non-urgent medical operations in order to stop the virus from spreading. Additionally, the virus’s fear of transmission, notably during COVID-19’s initial wave in 2020, led to a large decline in breast imaging findings. According to data from Breast Cancer Now (UK) from September 2020, COVID-19 caused over 9,86,000 women in the UK to skip their breast screening appointments. According to a study published in the Eurasian Journal of Medical Investigation in 2020, mammography in Turkey decreased by 64% when compared to data from 2019.
As a result, the risk of radiation exposure rising will provide new difficulties for the breast imaging. On the other hand, the high price of imaging equipment or technologies would impede the market’s growth. Due to the unfavourable reimbursement scenario in emerging and undeveloped countries, the market will also face considerable challenges. However, the COVID-19 outbreak’s introduction of unfavourable conditions and strict regulatory approval procedures impede market expansion.
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Growing prevalence of breast cancer
One of the main variables influencing the market?for mammography systems?is the increasing prevalence of breast cancer. The American Cancer Society estimates that in 2020, there will be around 276,480 new cases of invasive breast cancer in women. In addition, it has been determined that 48,530 women have in situ breast cancer, and it is anticipated that this figure will increase in the upcoming years. Additionally, a lot of businesses have started to launch efforts to support breast cancer screenings.
Moreover, according to the Centers for Disease Control and Prevention, regardless of race or ethnicity, breast cancer is the most common malignancy in most Asian countries (CDC). The age-standardized incidence rate of breast cancer in Asia is 34.4 per 100,000 individuals, according to GLOBOCAN 2018. Thus, the rising incidence of breast cancer is anticipated to support overall growth.
Technological advancements in the field of breast imaging
Collaborations between the public and private sectors generate a wave of awareness that accelerates the market for mammography equipment. Densitas Inc., a global supplier of A.I. solutions for digital mammography and breast screening, released the first artificial intelligence-powered telehealth technician training platform in November 2020 in collaboration with Mammography Educators. This platform will support the ongoing operations of mammography facilities. In collaboration with Mammography Educators, Densitas is offering specialised educational materials and a telemedicine solution that offers real-time virtual training based on Densitas IntelliMammo technician assessments. The densitas intelliMammo suite provides quantitative picture quality measures at the technician and mammography facility levels, enabling the detection of trends in technicians’ productivity. This makes it possible for mammography educators to create a mammography-specific, evidence-based curriculum.
The global mammography systems market is segmented into product type, modality, and end user.
By Product Type,
Analog Mammography Systems
Digital Mammography Systems
The analog mammography systems segment held the highest market share of more than 60% in 2021.
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Portable Mammography Systems
Non-Portable Mammography Systems
The portable mammography systems is projected to hold the highest market share with largest CAGR of 7.8% over the forecast period.
By End User,
Ambulatory Surgical Center
The inpatient settings segment is expected to reach USD 3,345.8 million by 2030.ss
The global mammography systems market is expected to grow generously during the forecast period due to the rising strategic expansions. The market based on region, is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and South America. The Asia Pacific market for mammography systems held the largest market share of more than 30%. The North American market for mammography systems is projected to grow at a highest growth rate of 8.2% over the forecast period.
The prominent players operating in the global mammography systems market include Allengers Medical Systems Limited, Fujifilm Holding Corporation, General Electric Company, Hologic Incorporated, Toshiba Corporation, Konica Milota Incorporated, Koninklijke Philips N.V. (Philips Healthcare), Metaltronica SPA, Planmeca OY, Siemens Aktiengesellschaft, and others. The major players in the market hold approximately 50% of the total market share. These market players are capitalizing in product launches, joint ventures, expansions, mergers. Siemens Aktiengesellschaft generated 48% of its revenue from Europe, CIS, Africa, Middle East regions, whereas it generated 28% through Americas region.
Table of Content:
- Report Overview
- Global Growth Trends
- Competition Landscape by Key Players
- Data Segments
- North America Market Analysis
- Europe Market Analysis
- Asia-Pacific Market Analysis
- Latin America Market Analysis
- Middle East & Africa Market Analysis
- Key Players Profiles Market Analysis
- Analysts Viewpoints/Conclusions
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The global mammography systems market report provides insights on the below pointers:
- Market Penetration: Provides comprehensive information on the market offered by the prominent players
- Market Development: The report offers detailed information about lucrative emerging markets and analyzes penetration across mature segments of the markets
- Market Diversification: Provides in-depth information about recent developments, and investments
- Competitive Landscape Assessment: Mergers & acquisitions, certifications, product launches in the global mammography systems market have been provided in this research report. In addition, the report also emphasizes the SWOT analysis of the leading players
- Product Development & Innovation: The report provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
- Pricing Analysis: Pricing analysis of various components used in the manufacturing of mammography systems
- Manufacturing Cost Analysis: Cost-share of various components, cost analysis, unit cost analysis
The global mammography systems market report answers questions such as:
- What is the market size and forecast of the global mammography systems market?
- What are the inhibiting factors and impact of covid-19 on the global mammography systems market during the assessment period?
- Which are the types/segments/applications/areas to invest in over the assessment period in the global mammography systems market?
- What is the competitive strategic window for opportunities in the global mammography systems market?
- What are the technology trends and regulatory frameworks in the global mammography systems market?
- What is the market share of the leading players in the global mammography systems market?
- What modes and strategic moves are considered favorable for entering the global mammography systems market?
Key Metrics Explored in Report Ocean Research Service:
Market Size: Quantifying the total value or volume of the market to provide a comprehensive understanding of its scale and potential.
Market Growth Rate: Measuring the rate at which the market is growing over specific periods to assess attractiveness and potential for investment.
Market Share: Analyzing the portion or percentage of the market captured by specific companies or products, providing insights into competitive positions.
Customer Satisfaction: Assessing levels of satisfaction or dissatisfaction among customers with a focus on products, services, or brands. This aids in gauging customer loyalty and identifying areas for improvement.
Pricing Analysis: Examining pricing strategies, including average prices, price differentials, and price elasticity, to understand market dynamics.
Market Segmentation: Dividing the market into distinct segments based on demographics, geography, behavior, or psychographics to understand varying needs and preferences.
Customer Acquisition Cost (CAC): Calculating the cost of acquiring a new customer to evaluate the efficiency of marketing and sales efforts.
Customer Lifetime Value (CLV): Measuring the total value a customer generates over their entire relationship with a company to assess long-term profitability.
Return on Investment (ROI): Evaluating the profitability and effectiveness of investments or marketing campaigns by measuring returns relative to costs.
Competitive Analysis: Assessing the performance and strategies of competitors, including market share, revenue growth, product portfolio, and customer satisfaction.
Key Performance Indicators (KPIs): Utilizing specific metrics to measure business or organizational performance, such as sales growth, market penetration, customer retention rate, and profitability.
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