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Global Mammography Market to Grow at a CAGR of 8.6% During 2021-2026, Aided by the Rising Health Awareness

According to a new report by EMR titled, ‘Global Mammography Market Report and Forecast 2021-2026’, the market attained a value of about USD 1.85 billion in 2020. The industry is further expected to grow at a CAGR of 8.6% in the forecast period of 2021-2026 to reach a value of around USD 3.03 billion by 2026.

Mammography is a form of medical imaging that uses a low-dose X-ray procedure to identify and diagnose breast disorders in women. The mammography industry is projected to expand due to factors such as an increase in breast cancer cases, increased awareness among women, technical advances, and an increase in government initiatives. However, business expansion is likely to be hampered by social stigma, the possibility of higher radiation exposure, and reimbursement scenarios.

Because of the rising prevalence of breast cancer and the increasing per capita healthcare expenditure in the region, the mammography industry in the Americas is projected to lead the global industry. Breast cancer is the leading cause of death in women, according to the World Health Organization (WHO), with around two million new cases diagnosed each year. The European economy is seeing significant expansion. This is due to the existence of a well-established healthcare infrastructure and the government programmes for the advancement of new treatment alternatives in the region. As a result, the industry in Europe is expected to witness a healthy growth. The introduction of next generation 3D mammography technology, for example, has increased the efficacy of breast cancer surgery and therapies. Because of the rising patient consciousness about breast cancer and a growing number of government measures for healthcare reforms, the demand in the Asia Pacific is expected to rise at a steady pace over the forecast period. Due to the region's low disposable income, the Middle East and Africa is expected to account for a nominal share in the global market.

General Electric Company (NYSE: GE) is an American multinational corporation that specialises in multiple segments like aviation, healthcare, electronics, energy, finance, and others. The company’s healthcare segment has been innovating its ultrasound technology and products. The company introduced a  pocket-sized wireless ultrasound system in early 2021, which is expected to improve the standing of GE. Such innovations are expected to further propel the mammography industry forward in the forecast period.

Market Analysis by Product, End Use, and Region:

  • The market on the basis of product can be divided into digital systems, analog systems, and breast tomosynthesis, among others.
  • Based on end use, the market can be divided into hospitals, special clinics, and diagnostic centres, among others.
  • The regional markets for mammography include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The rising prevalence of breast cancer is driving the growth of the mammography industry.
  • The improving healthcare facilities across the world and the increasing accessibility to such facilities are helping the market grow.
  • The constant improvements in existing technology are facilitating the development of more accurate and user-friendly equipment, thus, aiding the market growth.
  • The market is also expanding due to increasing R&D investments and rising healthcare expenditure.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for mammography for the periods (2016-2020) and (2021-2026).
  • The report also offers the historical (2016-2020) and forecast (2021-2026) markets for the products, end-uses, and regions of mammography.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global mammography market are General Electric Company, FUJIFILM Corporation, Hologic, Inc., General Medical Merate SpA, Koninklijke Philips N.V., and Metaltronica S.p.A., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always strive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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