The Global Market for Mammography Equipment is Projected to Reach US$628.6 Million by 2020
Rising Popularity of 3D Mammography Drives
the Global Mammography Equipment Market, According to a New Report by Global Industry Analysts, Inc.
GIA announces the release
of a comprehensive global report on Mammography Equipment. The
global market for Mammography Equipment is projected to reach US$628.6 million by
2020, driven by the growing female geriatric population worldwide, and continued
conversion from analog to digital mammography equipment.
Breast
cancer is one of the most common forms of cancer and is the leading cause of
mortality in women worldwide. Breast cancer can be screened through various
techniques and tools, including mammography, MRI and clinical examination,
among others. Mammography however remains the gold standard technique in breast
cancer screening, driven by a combination of factors such as cost, time taken for
the procedure, required expertise to carry out the procedure and the test’s
sensitivity and specificity rates. Growing awareness about breast cancer has
resulted in the increased use of mammography equipment for its detection.
Increase in the number of elderly females, and the susceptibility of this
demographic cluster to develop cancer will also help support growth in the
market.
Continuous
improvements in performance are playing instrumental roles in enhancing
adoption and utility of digital mammography equipment. Advancements in the area
of digital technologies have allowed users to minimize radiation dosage without
affecting image quality. Other advancements include hybrid imaging with CT and
Mammography, which helps in creating improved structural and anatomical images
for efficient image analysis. The emergence and growing popularity of 3-D
mammography, owing to its better screening sensitivity, and high level of
accuracy, among other advantages, is also spurring demand in the market. Technological
advancements such as new algorithms for CAD C-View 2D, contrast-enhanced
mammography, and breast tomosynthesis that facilitate improved cancer detection
rates are also expected to foster growth in the near term.
As stated by the new
market research report on Mammography Equipment, Europe represents the largest
market worldwide, supported by high patient
awareness and a favourable reimbursement scenario. Asia-Pacific is
forecast to emerge as the fastest-growing market with dollar sales projected to
grow at a CAGR of 7.2% over the analysis period. Rising incidence of lifestyle
and environment induced breast cancer, government sponsored cancer screening campaigns,
increasing digitalization of radiology equipment, and growing medical tourism
represent key growth drivers in the region.
Key
players covered in the report include GE Healthcare, Hologic Inc., I.M.S.
(Internazional Medico Scientifica) srl, Philips Healthcare, Planmed Oy, Siemens
Healthcare, and Toshiba Medical Systems Corp. among others.
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