Mammography Systems Market Report, published by Allied Market Research, forecasts that the global market was valued at $1,534 million in 2015, and is expected to reach $2,648 million by 2022, supported by a CAGR of 8.0% during the forecast period 2014 to 2022. Digital mammography systems segment held more than four-fifths of the total market in 2015.
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Mammography systems help in the detection of breast cancer at initial stages. The market has witnessed significant growth in the recent past due to the increase in government funding to support R&D for breast cancer.
Advent of technologically advanced systems such as breast tomosynthesis and rise in incidence of breast cancer majorly drive the market growth. In addition, rise in geriatric population and proactive initiatives taken by healthcare organizations to raise awareness about early detection of breast cancer are anticipated to further drive the demand for mammography systems globally. However, radiation exposure risks and generation of false positive or negative restrict the market growth.
Digital mammography systems are expected to dominate the market throughout the analysis period, owing to the presence of advanced features such as image size, brightness, and contrast which helps determine the precise location and extent of cancer using a computer screen.
Based on technology, 2D mammography generated maximum revenue, accounting for almost four-fifths of the global mammography systems market in 2015. However, combined 2D and 3D technology segment is estimated to exhibit the highest growth rate of 14.7% during the forecast period.
Considering the end-user segment, inpatient settings generated the highest revenue accounting for more than half of the global mammography systems market. On the other hand, ambulatory surgery centers segment is poised to grow at the highest CAGR of 9.0% during the forecast period.
Asia-Pacific is projected to grow at the highest CAGR of 9.0% during the forecast period owing to improvement in healthcare infrastructures and rise in expenditures in emerging markets (such as India and China) to overcome the unmet medical needs. Technological advancements to develop cost-effective devices in these nations offer a lucrative opportunity for market growth.
The major companies profiled in the 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.
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