Mammography Market is Estimated to Witness High Growth Owing to...

Mammography Market is Estimated to Witness High Growth Owing to Increasing Breast Cancer Screening Programs

Posté 2023-12-22 11:26:24

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Mammography involves the use of X-ray imaging to examine the breast for abnormalities such as tumors or cysts. It is widely used as a screening tool to detect breast cancer early. Mammography uses low-dose X-rays to examine breast tissue and help screen for abnormalities like tumors. The images produced, called mammograms, can help detect breast cancers that cannot be felt. Identifying tumors early, before they become large enough to feel or cause symptoms, improves breast cancer treatment options and survival rates.

The global mammography market is estimated to be valued at US$ 2360.16 Mn in 2023 and is expected to exhibit a CAGR of 6.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:
The mammography market is driven by increasing breast cancer screening programs and government initiatives for early detection and prevention of breast cancer. As per estimates, over 2 million new breast cancer cases were diagnosed worldwide in 2020. To curb the rising burden, governments across countries are implementing various screening programs to promote mammography testing. For instance, the Indian government launched the Pink Taxi scheme in 2020 where rides are offered to woman for breast cancer examinations free of cost.

Furthermore, technological advancements are also fueling market growth. Newer generations of mammography systems offer improved imaging quality with lower radiation dose exposure. For example, digital mammography incorporates 3D imaging and computer-aided detection solutions to enhance diagnostic accuracy. Digital mammography has emerged as the standard of care. Such innovations are increasing the adoption of mammography among healthcare facilities.

SWOT Analysis
Strength: The mammography market has strong growth potential due to rising prevalence of breast cancer. Furthermore, increasing awareness about early screening and diagnosis is driving the market. Advanced imaging technologies provide high quality images for accurate detection of abnormalities.
Weakness: High costs associated with mammography equipment and procedures limits widespread adoption in low and middle income regions. Resistance from patients for regular screenings due to perceived risks of radiation exposure.
Opportunity: Untapped growth opportunities exist in developing nations due to increasing healthcare expenditures. Tele-mammography facilitates remote screening in rural areas.
Threats: Alternative imaging modalities such as MRI and ultrasound gaining traction. Stringent regulatory processes for new product launches delay market access.

Key Takeaways
The Global Mammography Market Size is expected to witness high growth. Factors such as rising healthcare expenditures, increasing awareness about breast cancer, and technological advancements will drive the market during the forecast period. The global mammography market is estimated to be valued at US$ 2360.16 Mn in 2023 and is expected to exhibit a CAGR of 6.5% over the forecast period 2023 to 2030.

North America currently dominates the market due to supportive government initiatives and presence of major industry players. Initiatives by bodies like the American Cancer Society to spread awareness about breast cancer screening are contributing to increased adoption of mammography in the region. The Asia Pacific region is expected to grow at the fastest pace due to growing medical tourism industry and rising prevalence of breast cancer. Countries like China and India are major revenue generators due to their huge population base and unmet medical needs. Owing to increasing healthcare expenditures, availability of modern diagnostic facilities is improving in Asia. This will drive the uptake of mammography systems over coming years.

Europe remains the second largest market owing to widespread breast cancer screening programs and availability of reimbursement. However, high device costs remains a concern despite coverage under public health systems. Key players are focusing on offering budget-friendly solutions to expand in price-sensitive nations. Upgrades of existing infrastructure provide opportunities for new product adoption across both developed and developing European countries.

Key players operating in the mammography market are Anhui Jucheng Fine Chemical Co, Ltd. (CJCC), Ashland Inc., BASF SE, Kemira, SNF Group, Black Rose Industries Ltd., Shandong Polymer Bio-Chemicals Co., Ltd., Xitao Polymer Co., Ltd., ZL EOR Chemicals Ltd. and Dongying Kechuang Biochemical Industrial Co., Ltd.

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