Mammography Market growing at high CAGR by 2022: Toshiba Medical Systems Corporation (Japan), Siemens Healthcare GmbH (Germany), FUJIFILM Holdings Corporation (Japan)
Global Mammography Market – Overview
Mammography is the use of low energy X-rays for the diagnosis purpose. Market Research Future, a firm which specializes in market reports related to the healthcare sector among others, recently forecasted in its report on Global Mammography Market Research Report- Forecast to 2022 that the market will demonstrate a steady CAGR of 22.60% while achieving million dollar growth readily in the forecast period.
The global mammography market has been evaluated to be moderately growing and expected to grow in the future as well. Mammography market is expected to witness rapid development due to the growing healthcare industry and technological advancements. With increasing consumer awareness about health and increase in breast cancer cases are driving the growth for mammography market. Mammogram is a digital x-ray image which can find symptoms of cancer in early stages. These device can take digital image from different angles and form a set of image. Mammography is a standard screening and diagnostic technique used to screen breast tissues for the presence of malignant tissues. It involves detail imaging inside the breast with a low dose X-ray system for the early detention of cancer. Increasing healthcare expenditure and medical facility are leading the growth of this market. Medical professional use this device in diagnosing and managing the treatment of cancer. Mammography is relatively safe because it uses low dose x-rays. Medical device manufacturers are focusing on R&D to create more innovative product for the healthcare industry. North America is the largest market for mammography. APAC is growing rapidly and expected to grow further in future. European market is the second largest and growing steadily. Digital X-ray is largest segment but demand for 3D mammography devices are increasing and it expected to grow at a significant rate during the forecast period. However, high cost of the devices may slow the growth of the market during the forecast period.
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There are plenty of large and small market players which operate in this market all over the globe. The major participants of this market are: Toshiba Medical Systems Corporation (Japan), Siemens Healthcare GmbH (Germany), FUJIFILM Holdings Corporation (Japan), General Electric Company (U.S.), Shimadzu Corporation (japan), Koninklijke Philips (Netherland), Carestream Health, Inc. (U.S.), Hitachi Medical Corporation (Japan), Hologic, Inc (U.S.)
Latest Industry Updates
Being a competitive market, a number of different manufacturer are focusing on the product launch, and acquisition for the market development. Some of the latest development in the market are-
- Sept 2017, GE Healthcare is an American multinational company, manufacturer and distributer of diagnostic imaging agents and radiopharmaceuticals for imaging modalities that are used in medical imaging procedures. The company has got clearance of an industry-first, patient-assisted mammography device that literally puts women in control of their mammograms.
- Sept 2017, Hologic, Inc. announced the commercial availability of its new SmartCurve breast stabilization system, which is use to deliver a more comfortable mammogram without compromising image quality, workflow or dose.
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Regionally, the global mammography market is segmented into: America, Europe, Asia Pacific, and the Middle East & Africa. America accounts for the major share of the market owing to the presence of leading companies, increasing number of patients suffering from cancer and well developed technology. During last decade increasing government support for research and development has supported the growth of the market. Europe commands the second largest market owing to the availability of the funds and strong government support. Germany and U.K are the major contributor for the market. Asia-Pacific is fastest growing market region for this market due to presence of huge patient pool, and rapidly developing economies. Many developing countries are present in this region which presents a huge opportunity for the market growth. According to survey carried out by Pfizer, in 2012, 6.7 million of cancer cases was registered in Asia Pacific region which will increasing continuously. This increasing prevalence of cancer will boost the growth of the market in Asia Pacific. Whereas, the Middle East and Africa accounts for the least and slowest growing market due to the limited technological development and poor economic conditions. The Middle East is the major contributor for the market in the Middle East and Africa due to the presence of well-developed economies and huge healthcare spending.
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