© Philips Analysis | May 09, 2017
Mammography systems market with CARG of 8%
Global mammography systems market was valued at USD 1,534 million in 2015, and is expected to reach USD 2,648 million by 2022, supported by a CAGR of 8.0 percent during the forecast period 2014 to 2022.
Mammography facilitates the detection of breast cancer and other breast-related diseases. These tests are used for screening and diagnosis of breast cancer among women. Increase in geriatric population, proactive initiatives by healthcare organisations to raise awareness about early detection of breast cancer, and upsurge in incidence rate of breast cancer are expected to drive the market growth. Moreover, better reimbursement insurance policies, increased government funding for breast cancer research and technological advancements, such as the breast tomosynthesis, which helps in easy detection of breast cancer in women with dense breast tissues fuel the demand for mammography systems. However, radiation exposure risks and generation of false positive or negative are expected to impede the market growth. Asia-Pacific possesses high market potential, due to its high population base, high disposable incomes, and improvement in patient awareness about breast cancer imaging. Moreover, the rapid aging population and increase in incidence of breast cancer in less developed countries such as India have further increased the demand for mammography systems. In other countries such as China the burden of breast cancer was low, with an ASR at 22.1 in 2012. However, lack of awareness and screening programs for breast cancer, high treatment cost, and insufficient treatment facility are some of the factors expected to fuel the incidence of breast cancer in the coming years.