Mammography Is Estimated To Witness High Growth Owing To Increasing Incidence Of Breast Cancer

Mammography is a technique used in breast radiology to detect early signs of breast cancer through breast imaging. Mammography helps detect small lesions and tumors which are not palpable or visible by physical examination. It provides oncologists with diagnostic information to evaluate breast changes and allows for early detection of breast abnormalities.

The global Mammography market is estimated to be valued at US$ 2360.16 Mn in 2023 and is expected to exhibit a CAGR of 6.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Opportunity:

The increasing incidence and prevalence of breast cancer is one of the major factors driving the growth of the mammography market. According to WHO, breast cancer is the most common cancer in women worldwide, with an estimated 2.3 million new cases diagnosed in 2020. The increasing focus on women's health screening and benefits of early detection and diagnosis of breast cancer through mammography are further fueling the adoption of these systems. The rising awareness regarding breast health and initiatives undertaken by various government and nonprofit organizations to promote screening is expected to boost the demand for mammography, thereby presenting significant growth opportunities for players in this market.

Porter's Analysis

Threat of new entrants: Low capital requirements and established brands lower barriers to entry. However, presence of major players makes entry difficult.
Bargaining power of buyers: Buyers have high bargaining power due to availability of substitutes and undifferentiated products. Switching costs are low.
Bargaining power of suppliers: Suppliers have moderate bargaining power due to availability of alternatives and differentiated products. Suppliers' switching costs are moderate.
Threat of new substitutes: Substitutes like digital mammography, MRI, and ultrasound pose moderate threat due to technology advancements.
Competitive rivalry: Intense due to major players, established brands, differentiated offerings and low switching costs.

SWOT Analysis

Strengths: Established brands, technology leadership, wider customer reach and relationships fuel growth.
Weaknesses: High R&D costs, price pressures from substitutes, compliance challenges.
Opportunities: Rising cancer incidence, technological advancements, growing healthcare expenditure expand market.
Threats: Stringent regulations, reimbursement issues, economic slowdowns impact sales.

Key Takeaways

The Global Mammography Market Growth is expected to witness high

Regional Analysis: The North American region currently dominates the market due to supportive reimbursement policies, rising awareness, and strategic agreements between key players.

Key players operating in the Mammography market are GTL (Global Tel*Link Corporation), BI Incorporated (a subsidiary of GEO Group), Corrisoft, SuperCom Ltd., Spillman Technologies (a Motorola Solutions company), Tribridge (now DXC Technology), Appriss Inc., Northpointe Inc. (a subsidiary of Constellation Software), Tyler Technologies Inc., Capita PLC, IBM Corporation, Encartele Inc., Telmate LLC (a subsidiary of GTL), Keefe Group (a subsidiary of TKC Holdings Inc.), Securus Technologies Inc. (now part of Aventiv Technologies). Major players are focused on new product launches, collaborations and geographic expansions to strengthen their market position.

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