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Market Analysis: Mammography

An increase in breast cancer awareness along with government programs continues to fuel the growth of the global breast imaging equipment market.

Fri Aug 01 2014By Medical Dealer Magazine

Medical Dealer Magazine | Product Focus

by John Wallace

An increase in breast cancer awareness along with government programs continues to fuel the growth of the global breast imaging equipment market. The numbers vary, but a host of recent reports all forecast growth in the U.S. and worldwide for the mammography market.

The global market for medical breast imaging equipment is forecast to exceed $4 billion by 2020, according to a study by Grand View Research Inc. The study indicates an estimated compound annual growth rate of 12.2 percent from 2014 to 2020.

Mammography was the dominate overall product market in terms of revenue in 2013 and was valued at about $1 billion. Other product markets are tomosynthesis, breast ultrasound, breast MRI, nuclear imaging, bioelectric imaging, and breast thermography. Its share is attributed to factors such as relatively low radiation exposure and technological advancements such as digital and portable mammography equipment. The introduction of digital mammography has made examinations faster, made the transfer of information to remote locations easier and helped reduce storage space requirements. Breast MRI accounted for the second largest revenue share in 2013, according to the study.

North America was the largest market region in 2013 with about 33 percent of the global revenue caused by high patient awareness levels, high healthcare expenditures and a quality healthcare infrastructure, according to Grand View Research. The Asia-Pacific region is expected to grow quickly over the next six years with a compound annual growth rate of 14 percent, according to the Grand View Research study.

To read the full article visit the August 2014 edition of Medical Dealer Magazine

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