Asia-Pacific Mammography Market - Growth, Trends, and Forecast (2020 – 2025)
The AsiaPacific mammography market is anticipated to grow with a CAGR of 7.9%, during the forecast period. The major factors contributing to the growth of the AsiaPacific mammography market are the rising incidence of breast cancer, large R&D investment in breast cancer therapies, and advances in breast imaging modalities. In most Asian countries, breast cancer is the most common cancer. Incidence rates increase at a faster rate than in Western countries due to lifestyle and dietary changes. The Center for Disease Control (CDC) reports breast cancer to be one of the most common cancers among women, irrespective of race or ethnicity. The rising prevalence of breast cancer and the growing healthcare infrastructure in the region is expected to drive the overall growth. As per the GLOBOCAN 2018, the estimated agestandardized incidence rate of breast cancer in Asia is 34.4 per 100,00. The other factors helping the growth of the mammography market are the rapid increase in population.
Key Market Trends
Digital Mammography Segment is Expected to Hold the Largest Market Share in the AsiaPacifc Mammography Market
Digital mammography is a specialized and advanced form of mammography that uses digital receptors and computers instead of Xray films to examine breast tissue for tumor presence. So far, conventional screenfilm mammography (SFM) with highspatialresolution has been the preferred choice for screening programs in most countries. However, with the advent of digital mammography, an increasing number of countries are experiencing shifts toward these newer systems, due to their superior depiction of lowcontrast objects, wider dynamic change, and improved diagnostic quality of images, especially when examining denser breasts. They also come with an added advantage of softcopy image displays and softcopy reading, which can be easily transferred. Mammography screening offers greater precision, better quality, and higher efficiency results. Thus, digital mammography is becoming the preferred choice of selection, even though the new technology cost is six times higher than the conventional systems. These factors are expected to contribute to the growth of the market during the forecast period.
The AsiaPacific mammography market is competitive and consists of several players. In terms of market share, few of the major players are currently dominating the market. And some prominent players are vigorously making acquisitions and joint ventures with the other companies to consolidate their market positions across the region. Some of the companies which are currently dominating the market are Bayer AG, Pfizer Inc., Merck & Co., Inc., CooperSurgical, Inc., and Allergan PLC.
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