LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the global mammography market is expected to reach USD 2,893.43 million by 2021, growing at a CAGR of more than 10%.
This research report titled ‘Global Mammography Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.
The global mammography market is expected to grow rapidly due to high adoption rates of digital mammography in the developing countries. For instance, in countries like India, global vendors like Philips are conducting breast cancer awareness (BCA) programs like the "Husband Initiated Movement" campaign to spread awareness among husbands regarding their wives' breast cancer screening.
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Technavio’s analysts categorize the global mammography market into three major segments by product. They are:
- 3D mammography
- 2D mammography
- Analog mammography
The global 2D mammography market recorded the highest revenue in 2016 and is forecasted to stay dominant in the coming years, due to the inclination toward digitalization in the emerging countries. Governments of these countries are focusing on building improved healthcare infrastructure to detect breast cancers at an early stage.
According to Barath Palada, a lead medical imaging research analyst from Technavio, “The 2D mammography market is expected to remain dominant in the developing countries due to the presence of price-sensitive individuals and low reimbursement schemes for out-patient diagnosis.”
The global 3D mammography market is expected to show rapid growth in the forecast period, due to the replacement of 2D mammography by 3D mammography in the high- and mid-tier hospitals in the developed countries.
“The inclusion of 3D mammography in the medical insurance plans like Hologic’s Genius 3D MAMMOGRAPHY exam, which is being covered by Cigna, is likely to increase the adoption rate of 3D mammography in the developed countries like the US,” says Barath.
The global analog mammography market is expected to witness further decline due to higher adoption of digital mammography worldwide. With the presence of a large number of regional vendors, limited growth is expected from new system installations in low-tier hospitals, especially in the rural areas of the developing countries.
The vendors get the recurring revenue from the maintenance and servicing charges of the already installed systems. For instance, Metaltronica has a dedicated team of technical staff for servicing their installed Lilyum analog mammography systems in Europe.
The top vendors highlighted by Technavio’s research analysts in this report are:
- GE Healthcare
- Philips Healthcare
- Siemens Healthcare
- FUJIFILM Holdings
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Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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