In a recent published report, Kenneth Research has updated the Market report for Mammography Equipment Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Mammography Equipment Market Products.
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The Mammography equipment market in India is an emerging market that has tremendous scope to grow. The Indian mammogram equipment market is an emerging market. Currently, breast cancer is ranked as the second most important cancer after cervix-uteri according to World Health statistics. Breast cancer accounts for 23% of all cancer cases of the world. In 2015, it has been estimated that about 0.25 million women will be diagnosed with breast cancer in India.
The report begins with the introduction section that deals with the characteristic features of a mammogram with its product variation. It provides a detailed study of the major differences of the mammogram product variation. The section has also focused on the gradual developments that have taken place in the mammogram industry. The Market Overview section has highlighted the current market scenario with the future expected growth rate of the equipment market till the year 2016. This section also provides market segmentation in 2011.
According to the statistics by the World Bank, the current health expenditure (% of GDP) around the world increased from 9.08% in 2001 to 9.84% in 2018. Additionally, the current health expenditure per capita (current US$) increased from USD 492.99 in 2001 to USD 1110.84 in 2018. Moreover, growing concern for deaths caused due to various diseases and the need for treatment that can lower the crude death rate, which in the year 2019 recorded close to 7% (per 1000 people), are also anticipated to drive the market growth during the forecast period.
The report provides the driving factors that are encouraging the equipment market among which the surging breast cancer cases find a prominent position. The ever growing healthcare industry, growing expenditure on healthcare by the Indian government, prescribed regular monitoring by doctors under specific conditions related to age, family history and other medical background. In addition to these factors another significant factor is the improvement of awareness level regarding early breast cancer detection. The drivers and analysis of the same is provided that are factors which are driving forth the market for the diagnosis equipment. A number of driving factors are acting as catalysts for the high growth of the industry. A detailed analysis of the drivers has been included in the next section. The key challenges include inadequacy of mammogram in terms of correct cancer detection, refurbished market, lack of technical manpower and disparity in awareness level by region.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
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As, the number of breast cancer patients is increasing in the country, the Government is taking various steps to enable smooth growth of the equipment market. The Government initiatives section highlights the different relaxations in terms of duties for the equipment market to flourish, rampant programmes related to Telemedicine to reach healthcare facilities in remote corners of the country along with self initiated as well as PPP projects to curb breast cancer deaths. Such programmes help to add to the demand for the equipment in the market.
The next section provides a study on the Technological Trends prevailing in the market. It has a section on the current technologies that are used in addition to mammogram screening to enable better results as well as technologies that can become a potential threat to the equipment in future.
The competition section provides an overview of the competitive landscape in the market. A Porters Five Forces Analysis has been incorporated for a brief but effective understanding of the market scenario. The section includes elaborate profile of the major players in the market incorporating the general company information, product lines and segmentation, the financials that is well analysed through key ratios thereby depicting the financial position of the company in terms of its revenue earning and profitability, business highlights and recent developments of the respective company for both domestic and foreign players.
The strategic recommendations section focuses on some effective strategic decisions which can be taken up by companies to increase their market shares. The recommendations provided at the end of the report can prove to be useful for the existing as well as potential entrants into the market.
The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:
- North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth Market Players Analys & Opportunity Outlook
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth Market Players Analysis & Opportunity Outlook
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