Mammography Market is estimated to be valued at USD 2.60 Bn in 2024 and is expected to exhibit a CAGR of 10.2% over the forecast period (2024-2031). The global mammography market is witnessing high growth due to rising incidences of breast cancer worldwide. According to the World Health Organization, breast cancer incidence is expected to increase by over 50% globally by 2040. Furthermore, increasing accessibility of screening programs in developing nations through public healthcare initiatives is expanding the uptake of mammography equipment.
Market Dynamics:
Rising prevalence of breast cancer and increased funding for screening by governments and Non-government organization are the major drivers propelling the demand for mammography systems globally. Various governments are undertaking initiatives to raise awareness about breast cancer and the need for regular screening. For instance, the National Breast Cancer Foundation in the U.S. spend over USD 60 Mn yearly to support breast cancer research, education, and screening programs. Additionally, technological advancements leading to the development of digital mammography systems with improved imaging capabilities and reduced radiation exposure are also fueling the adoption of new devices. The digital platforms enable long-term storage and enhanced remote diagnosis, further supporting the market growth over the forecast period.
Growing Incidence of Breast Cancer is Driving Growth in the Mammography Market
Breast cancer is one of the most common types of cancer affecting women globally. According to the World Health Organization (WHO), around 2.3 million new cases of breast cancer are diagnosed each year. The American Cancer Society, it was stated that, there were around 284,200 new cases of invasive breast cancer diagnosed in women in the U.S. in 2021. Early detection through screening has been shown to significantly improve breast cancer survival rates. Mammography is considered the gold standard for breast cancer screening as it can detect tumors that are too small to feel. The increasing focus on breast cancer awareness programs and screening recommendations by health organizations is encouraging more women to undergo regular mammograms. This rise in breast cancer screening volume is fueling growth in the mammography market.
Growing Geriatric Population is Increasing the Demand for Mammography Procedures
Older women are at an increased risk of developing breast cancer. According to the National Cancer Institute, around 63% of invasive breast cancer cases are diagnosed in women aged 55 years and older. The number of women aged 65 years or older is projected to grow significantly in the coming decades. For example, the U.S. Census Bureau estimates that the U.S. population aged 65 and over is expected to nearly double from 52 million to 95 million between 2018 and 2060. This significant rise in the aging demographic is anticipated to directly correlate with the higher demand for mammography due to the increased risk of breast cancer at older ages.
Reimbursement Cuts are Restraining Market Growth
Mammography procedures involve high equipment and infrastructure costs. Many countries have implemented cuts in reimbursement rates to curtail rising healthcare expenditures. For instance, in July 2020, the Centers for Medicare & Medicaid Services (CMS) in the U.S. cut reimbursement rates for screening mammograms by US$ 7. Medicare reimbursement for a screening mammogram fell from around US$ 75 to US$ 68. Similarly, in Japan, the government reduced reimbursement rates for mammography by 10% in 2019. Such reductions strain the finances of healthcare facilities and make mammography less profitable. This acts as a restraint on new investments and installations of mammography equipment.
Lack of Skilled Professionals Hampers the Market Growth
Another challenge restricting the growth of the mammography market is the shortage of trained and skilled professionals for operating mammography equipment and interpreting scans. Mammography requires radiologists, technologists, and nurses with specialized training in breast imaging. However, the number of skilled professionals entering this field has not kept up with rising demand. For example, the American Society of Radiologic Technologists has reported a shortage of over 2,000 mammography technologists in the U.S. alone. The complexities involved in mammography procedures and interpretation require extensive, hands-on clinical training under guidance of experienced experts. Lack of adequate educational and training programs is exacerbating this talent crunch. It negatively impacts the efficiency and turnover times of facilities.
Growing Demand for Mobile Mammography Presents Lucrative Opportunities
Mobile mammography involves the use of a van or truck equipped with digital mammography machines to provide breast cancer screenings in remote and rural locations. It helps improve screening access for underserved populations who face challenges in traveling long distances to hospitals or diagnostic centers. With growing awareness about early detection, demand is rising for convenient screening options. Mobile mammography helps address this need and is gaining popularity in developed as well as developing regions. Major players are actively investing in custom-designed mobile units equipped with the latest digital technology to capitalize on this fast-emerging trend.
Adoption of Digital Breast Tomosynthesis (DBT) Technology to Drive Revenues
The adoption of digital breast tomosynthesis (DBT) also offers lucrative growth prospects for mammography market players. DBT, also known as 3D mammography, generates a 3D image of the breast from multiple 2D X-ray images taken from different angles. It provides clearer visualization of overlapping tissue and allows detection of 20-65% more invasive breast cancers compared to traditional 2D digital mammography. DBT enhances accuracy of screening, especially for women with dense breasts. With its benefits proven, guidelines now support use of DBT for screening average-risk women. Its acceptance is growing globally.
*Link: https://www.coherentmarketinsights.com/market-insight/mammography-market-5425
Key Development
- On April 17, 2024, Siemens Healthineers, a medical device company, announced that it had launched Mammomat B.brilliant1, a new tomosynthesis mammography system with a wide-angle tube that moves around the breast at a 50° angle and a scan time of around five seconds, creating a 3D image with high depth resolution in the shortest time possible. The system enables abnormalities and microcalcifications in the tissue to be identified with a high level of accuracy.
- In November 2023, University of Rochester Medical Center Rochester, U.S. launched the Mobile Mammography Van, equipped with state-of-the-art, 3D breast imaging technology. It provides important preventive care for women throughout the Rochester, Finger Lakes, and Western New York region in U.S.
- In December 2020, Hologic Inc., a medical technology company primarily focused on improving women’s health, announced the U.S. Food and Drug Administration (FDA) clearance and commercial availability of Genius AI Detection technology, a new deep learning-based software designed to help radiologists detect subtle potential cancers in breast tomosynthesis images.
- In October 2020, Siemens Healthineers, a medical device company, received clearance from the U.S. Food and Drug Administration (FDA) for Ysio Max digital radiography system which includes new detectors and usability features that improve imaging and speed up exams
Key Players: Carestream Health, Siemens Healthineers, Planmed Oy, Konica Minolta Inc., Metaltronica SpA, Koninklijke Philips N.V., General Medical Merate SpA, Hologic Inc., GE Healthcare, Fujifilm Holdings Corporation, Analogic Corporation, Canon Medical Systems Corporation, and Toshiba Medical Systems
