In a recent published report, Kenneth Research has updated the market report for Mammography 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 Analsysis 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) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest 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 Market products.
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Global Mammography Market Highlights Over 2020 – 2030
The global mammography market is estimated to garner a revenue of USD 4535.27 Million by the end of 2030 by growing at a CAGR of 8.61% over the forecast period, i.e., 2021 – 2030. Moreover, in the year 2020, the market generated a revenue of USD 1993.02 Million. The growth of the market can primarily be attributed to the growing incidences of breast cancer around the globe. According to the statistics by the World Health Organization (WHO), 2.3 Million women were diagnosed with breast cancer in the year 2020. Moreover, in the same year, 685000 deaths were registered worldwide due to the disease. Mammography is a process where low-energy X-rays are being used to examine the human breast. The resulted action helps in the diagnosis and screening of different types of diseases related to the breast. Although, the primary goal of mammography is to help in the early detection of breast cancer. With the surge in the number of cases of breast cancer, there is a growing need for the early detection and diagnosis of the disease, which is expected to boost the market growth in the coming years.
On the other hand, the growing healthcare expenditure worldwide along with the increasing investments in the development of advanced medical equipment around the globe are also expected to expand the market growth in the years to come. Moreover, the growing awareness for the availability of mammography amongst individuals worldwide is also expected to significantly accelerate the market growth. Apart from this, the rising integration of 2D and 3D mammography for screening breast cancer is also anticipated to create numerous opportunities for market growth.
Global Mammography Market Regional Synopsis
Regionally, the global mammography market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in North America is anticipated to garner the largest revenue of USD 1737.46 Million by the end of 2030, up from a revenue of USD 771.50 Million in the year 2020. The growth of the market in the region can primarily be attributed to the presence of a strong healthcare network in the region, especially in the United States, followed by the increasing focus of the government of nations in the region on improving the healthcare facility for the individuals. Besides this, the rise in the prevalence of breast cancer in the region is also anticipated to contribute to the market growth in the coming years. According to the statistics by the Centers for Disease Control and Prevention (CDC), in the United States, 254744 new cases of female breast cancer were reported in the year 2018. Additionally, 42465 women died of this cancer in the same year.
On the other hand, the market in Europe is anticipated to garner the second-largest revenue of USD 1424.98 Million by the end of 2030, up from a revenue of USD 647.53 Million in the year 2020. The market in the region is further segmented by country into the United Kingdom, Germany, Italy, France, Spain, Russia, Netherland, and the Rest of Europe. Out of these, the market in Germany is anticipated to garner the largest revenue of USD 329.46 Million by the end of 2030, up from a revenue of USD 144.79 Million in the year 2020.
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Growth Drivers and Challenges Impacting the Growth of the Global Mammography Market
Growth Drivers
- Rising Incidences of Breast Cancer
- Increasing Healthcare Expenditure
Challenges
- Limited Availability of Healthcare Resources
Global Mammography Market Segmentation Synopsis
The global mammography market is segmented by product into analog mammography systems, digital mammography systems, and breast tomosynthesis systems. Out of these, the digital mammography systems segment is anticipated to garner the largest revenue of USD 2572.13 Million by the end of 2030, up from a revenue of USD 1144.06 Million in the year 2020. By technology, the market is segmented into 2D mammography, 3D mammography, and combined 2D & 3D mammography. Out of these segments, the 2D mammography segment is anticipated to garner the largest revenue of USD 2593.24 Million by the end of 2030, up from a revenue of USD 1320.86 Million in the year 2020. By end-user, the market is segmented into hospitals, diagnostic centers, and ambulatory surgical centers. Out of these, the hospitals segment is anticipated to garner the largest revenue of USD 2694.30 Million by the end of 2030, up from a revenue of USD 1165.58 Million in the year 2020.
Key Companies Dominating the Market
Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global mammography market that are included in our report are General Electric Company, FUJIFILM Holdings Corporation, Koninklijke Philips N.V., Siemens Healthcare GmbH, PLANMED OY, Carestream Health, Konica Minolta, Inc., Hologic, Inc., Canon Medical Systems Corporation, Metaltronica S.p.A., General Medical Merate S.p.A., and others.
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