The Mammography Market to Grow at a CAGR of 9.46% During the Forecast Period 2017-2023 to Aggregate $2,924.9 Million by 2023
Factors such as technological advancements in 3D mammography, increasing incidence of breast cancer, government initiatives for breast cancer awareness and treatments are expected to drive the market growth during forecast period
Bangalore, India, May 25, 2017 (Newswire.com) - Infoholic Research LLP, a global market research and consulting organization, has published a study titled “Global Mammography Market – Drivers, Opportunities, Trends, and Forecasts: 2017–2023” (April 2017).
According to Infoholic Research, advent of computer- aided detection (CAD) technology will boost the growth of the mammography market in the coming years. This technology detects the aberrations in the digital mammogram outputs and corrects the results of the initial reading. In spite of multiple recent launches, a significant unmet need still exists in the global mammography market, which represents another significant driving factor for the growth of the industry. The market growth is also contributed by breast cancer population rise, which in turn increases the need for breast screening services at different stages for detection and treatments of tumors. Anticipated launch of latest 3D mammograms by the leading players is also expected to drive the market. According to Infoholic Research, the “Global Mammography” market is expected to grow at a CAGR of 9.46% during the forecast period 2017–2023 to touch an aggregate of $2,924.9 million by 2023.
"Digital mammogram pricing depends on various parameters such as condition (new/refurbished), age of the system, and its major components. Currently, these systems range up to $100,000. Moreover, ancillary mammography items such as CAD ranges up to $15,000, stereotaxy biopsies cost up to $25,000, and physician's workstation ranges up to $35,000. Hence, breast treatments via latest technology mammography service are still considered costly in the developing countries as it requires more than one sitting for the patients."
Victor Mukherjee, Assistant Manager (Research - Healthcare) at Infoholic Research
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The Global Mammography market is analyzed based on three segments — types, end users, and regions. The regions covered in the report are the Americas, EMEA, and APAC regions. In the Americas region, the US and Canada are set to be the leading countries. Europe is set to be the second-leading region, with Germany as one of the leading countries in Europe in terms of revenue. In Asia Pacific, India is one of the most attractive countries for the players and holds huge business opportunities. The APAC region is expected to grow the fastest during the forecast period.
The product types covered in the report are Analog Mammography, 2D Mammography, and 3D Mammography. 2D and 3D (Computed Tomography) Mammography segments are expected to gain more market share by 2023. The market is already witnessing a significant decrease in the adoption of Analog Mammography by the end users. This particular segment is expected to be overshadowed by the advancements in digital mammography during the forecast period. 2D Mammography segment comprised of more than 70% of the global market share in 2016. Overall, the market is expected to grow significantly mainly due to the increasing number of 3D mammography product launches during the forecast period.
“Digital mammogram pricing depends on various parameters such as condition (new/refurbished), age of the system, and its major components. Currently, these systems range up to $100,000. Moreover, ancillary mammography items such as CAD ranges up to $15,000, stereotaxy biopsies cost up to $25,000, and physician's workstation ranges up to $35,000. Hence, breast treatments via latest technology mammography service are still considered costly in the developing countries as it requires more than one sitting for the patients,” said Victor Mukherjee, Assistant Manager (Research – Healthcare) at Infoholic Research
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Further, the report also aims to cover the following points:
Provides an in-depth analysis of the key business opportunities in countries and verticals
Provides the complete details about the various types of mammography overview
Provides the complete details of trending mammograms
Provides the complete details about the analysis of top 8 players
Provides industry outlook including current and future market trends, drivers, restraints and emerging technologies
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