Mammography Systems Market gross revenue will surpass $3.2 billion by 2024
SELLBYVILLE, Del., July 11, 2018 /PRNewswire-iReach/ -- World Mammography systems Market is poised to cross USD 3.2 billion by 2024; as per a new research report by Global Market Insights, Inc. Increase in incidence rate of breast cancer throughout the world due to hormone replacement therapies, increased alcoholism, decreased child bearing and genetic factors will majorly assist in the growth of mammography systems market. High obesity prevalence rate coupled with rising geriatric population leading to age-related risks will also result to increase in breast cancer incidence. Increasing government funding activities to various organizations and foundations to offer breast diagnosis at affordable rates or free of cost for eligible women will augment the market growth.
Technological advancements resulting into improved screening and diagnosis of invasive breast cancer, reduced radiation exposure as well as better outcomes will assist the market growth. Additionally, large percentage of population is becoming aware about the various breast screening systems available along with the benefits of early cancer diagnosis. This will act as a high impacting factor in adoption of mammography systems.
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High capital cost is involved in acquisition of mammography systems along with expensive screening charges for the patient population. Additionally, false-negative and false-positive results that can result in increased mortality rate due to undiagnosed breast cancer may impair the growth of mammography systems market.
Full field digital mammography systems segment led the mammography systems market in 2017 and is expected to grow significantly over the forecast timeline. High replacement rates due to better diagnostic efficiency and relative cost involved will drive segmental growth.
2D mammography technology segment renders largest market share, that is driven by greater detection sensitivity, also in dense breast tissues and accurate result generation. 2D mammography technology is used in combination with other technological systems too, that will assist in the segmental growth of 2D mammography systems.
Hospital segment is estimated to foresee significant growth during the forecast period owing to a favorable reimbursement structure, rising hospital number coupled with a high incidence rate of breast cancer across developed and developing countries. Increase in disposable income of the people and a better healthcare infrastructure will further propel hospital segment growth in forthcoming years.
U.S. mammography systems market will be impelled by a rising patient pool of breast cancer coupled with high awareness in the U.S. population about breast cancer. Greater adoption rates of newer technologies in U.S. will favor industry growth.
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Indian mammography systems market growth will show robust growth rate over the forecast timeline as a result of high percentage of female population suffering from breast cancer followed by rising awareness among the Indian population.
Some of the key market players competing in global mammography systems market are Amico JSC, Canon, Carestream healthcare, Fujifilm Medical System, GE healthcare, Hologic, I.M.S., Konica Minolta, Korean C, Medical technologies, Planmed Oy, Philips, Siemens Healthineers. The competitors are using launch of novel products with technological advancements, acquisitions and mergers as the key strategies to foresee a lucrative growth in mammography systems market. For instance, in January 2017, Fujifilm Medical System launched digital breast tomosynthesis system, offering superior breast imaging that will expand the company's product portfolio and thereby help in growth of company.
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
Media Contact: Jignesh Thakkar, Global Market Insights, Inc., +13028467766, sales@gminsights.com
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SOURCE Global Market Insights, Inc.
