Growing Prevalence Of Breast Cancer: A Key Driver Transforming the Mammography Devices Market 2024

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Exciting predictions for the future of the mammography devices market are on the horizon. What does the future hold for the mammography devices market?

The mammography devices market size has grown significantly in recent years. The market is projected to rise from $1.77 billion in 2023 to $1.97 billion in 2024 at a compound annual growth rate CAGR of 11.4%. This growth in the historic period can be largely attributed to factors such as government initiatives, increasing number of elder women, the expansion of healthcare facilities and access, insurance and reimbursement policies in healthcare, and the aging population.

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What are the drivers accelerating the growth of the market?

The position of mammography devices in early breast cancer detection makes them indispensable tools in the healthcare sector. The increasing prevalence of breast cancer is expected to propel the growth of the mammography device market going forward. Changes in lifestyle factors, the aging population, inherited genetic mutations, and hormonal factors have led to an uptick in breast cancer cases. Mammography devices enable early detection, accurate diagnosis, and effective management strategies that ultimately improve patient outcomes and survival rates. According to the American Cancer Society, approximately 310,720 new cases of invasive breast cancer are projected to be diagnosed in women in 2024 and about 42,250 women are projected to die from breast cancer in the same year. As the incidence rate of breast cancer continues to increase annually, the mammography device market is expected to soar.

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What are the key players operating in the mammography devices market?

Major companies spearheading the mammography devices market include Siemens Healthineers AG, Fujifilm Holdings Corporation, Becton, Dickinson and Company, Koninklijke Philips N.V., GE HealthCare Technologies Inc., Konica Minolta Inc., Hologic Inc., Carestream Health Inc., Analogic Corporation, Canon Medical Systems Corporation, Aurora Health Care Inc., DMS Group, SuperSonic Imagine Ltd., Villa Sistemi Medicali S.p.A, Planmed Oy, Allengers Medical Systems Limited, General Medical Merate S.p.A, KUB Technologies Inc., Delphinus Medical Technologies Inc., Metaltronica S.p.A., SonoCiné Inc., Micrima Limited, IMS Giotto S.p.A., CMR Naviscan Corporation, SternMed GmbH.

What are the emerging trends in the mammography devices market?

In the race of innovation, companies are focusing on developing advanced products, such as mammography systems with wide-angle tomosynthesis, to offer improved image resolution and clarity. Wide-angle tomosynthesis is an advanced breast imaging technology that enhances traditional mammography by providing three-dimensional 3D images of the breast tissue. Particularly effective in detecting breast cancer in dense breast tissue, it improves upon the clarity and accuracy of standard 2D mammography. Siemens Healthineers, for instance, launched the Mammomat B. Brilliant mammography system with wide-angle tomosynthesis in September 2023, revolutionizing the process of detecting breast cancer with quick and accurate imaging.

How is the global mammography devices market segmented?

The mammography devices market can be segmented as follows:

1 By Device Type: Analog, Digital, Other Device Types
2 By Modality: Portable Mammography Systems, Non-Portable Mammography Systems
3 By End User: Hospitals, Specialty Clinics, Diagnostic Centers

How is the regional landscape of the mammography devices market?

In 2023, North America was the largest region in the mammography devices market. However, the coming years are expected to witness Asia-Pacific as the fastest-growing region. The regions covered in this report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

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