MAMMOGRAPHY MARKET ANALYSIS

Mammography Market Size and Trends

The global mammography market is estimated to be valued at USD 2.60 Bn in 2024 and is expected to reach USD 5.14 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 10.2% from 2024 to 2031.

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The global mammography market is experiencing strong growth owing to the increasing burden/incidence of cancer across the world, and increasing number of breast cancer screening programs/campaigns. Moreover, increasing number of mammography and biopsy procedures is expected to boost the growth of the market. However, factors such as risk of adverse effects from radiation exposure and growing emergence of other imaging or detection methods are expected to hamper the market growth.

Market Driver – Increasing Prevalence of Breast Cancer

Increasing burden/incidence of cancer across the world is expected to augment the growth of the global mammography market during the forecast period. For instance, mammograms are the best way to find breast cancer early, when it is easier to treat and before it is big enough to feel or cause symptoms. According to the World Cancer Research Fund International (WCRF), breast cancer is the most commonly occurring cancer in women and the most common cancer overall. There were more than 2.26 million new cases of breast cancer in women in 2020. According to World Health Organization, in 2019, cancer was the first or second leading cause of death in 112 of 183 countries.

Favorable initiatives for breast cancer screening or increase in the number of breast cancer screening programs or campaigns is expected to boost the market growth. For instance, in October 2020, the Kao Group of Japan, a manufacturer of household and chemical product, announced the launch of the ‘Kao Group Pink Ribbon Campaign 2020’ in major cities across Japan. The campaign has been running since 2007 to communicate the importance of the early detection of breast cancer to as many people as possible. Breast cancer is currently the most common type of cancer in Japanese females, driving the growth of the market.