Mammography Systems Market Expected to Reach $4.7 Billion by 2030

According to a new report published by Allied Market Research, The mammography systems market size was valued at $2,246.10 million in 2020, and is estimated to reach $4,718.50 million by 2030, growing at a CAGR of 7.5% from 2021 to 2030. 

Advent of technologically advanced systems such as breast tomosynthesis and rise in incidence of breast cancer majorly drive the market growth. In addition, surge in geriatric population and proactive initiatives taken by healthcare organizations to raise awareness about early detection of breast cancer are anticipated to further foster the demand for mammography systems globally. The mammography systems market forecast from 2020 to 2030 mentioned in the report. 

The mammography systems market is segmented on the basis of type, modality, end user, and region. On the basis of type, the market is classified into analog mammography systems and digital mammography systems. Analog mammography systems segment dominated the market in 2020 owing to the presence of advanced features such as image size, brightness, and contrast, which help in determining the precise location and extent of cancer using a computer screen.

On the basis of modality, the market is categorized into portable mammography systems and non-portable mammography systems. Portable mammography system is the segment having the highest revenue followed by non-portable mammography systems. Thenon-portable mammography systems segment is expected to grow at a CAGR of 7.5% during the forecast period.

On the basis of end user, the market is divided into in-patient settings and ambulatory surgical centers. The in-patient settings segment holds the maximum mammography systems market share in the mammography systems market, followed by the ambulatory surgical centers industry.

On the basis of region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America dominated the market in 2020 owing to improvement in healthcare infrastructures and rise in expenditures in emerging markets (India and China) to overcome the unmet medical needs. Technological advancements to develop cost-effective devices in these nations offer a lucrative opportunity for mammography systems market growth.

The key players profiled in the market report include Analogic Corporation, Carestream Health, Fujifilm Holdings Corporation, General Electric Company, Hologic, Inc., Konica Minolta, Inc., Koninklijke Philips N.V., PLANMED OY, Siemens AG, and Toshiba Medical Systems Corporation.

Several manufacturers in the global mammography systems industry stopped their business activities in 2020 due to lockdowns implemented in developed and developing countries owing to ban on industrial activities with the outbreak of COVID-19 pandemic. This halt in production activities impacted the revenue of the mammography systems manufacturing companies. For instance, net sales of Konica dropped by 11.2% from April 2020 to March 2021. In addition, lack of man power and raw materials affected the supply chain of the global mammography systems market. However, the market is projected to recover from the 1st quarter of 2023 due to reduced restrictions and reopening of the global mammography systems industry. Moreover, in 2021, with the availability of vaccine against COVID-19, the market re-opened at full pace with a start of 2022.