Global Mammography Market - Segmented by Technology Type, End-users, and Geography - Growth, Trends and Forecast (2018 - 2023)
The global mammography market is expected to register a CAGR of 8.0% during the forecast period, 2018 to 2023. North America dominates the market, due to growing awareness of breast cancer in the region.
Growing Prevalence of Breast Cancer
The Center for Disease Control (CDC) reports breast cancer to be one of the most common cancer among women, irrespective of race or ethnicity. It is also the third most common cause of death from cancer among American Indian/Alaska Native women. World Health Organization (WHO) reports a death toll of over 508,000 women in 2011, due to breast cancer. National Cancer Institute estimated 246,660 new cases and 40,450 deaths due to breast cancer in 2016. As the global population is aging, a large number of women are expected to move into the 60+ age category. Women aged 60 years and above, account for almost 78% of all breast-cancer related deaths. Thus, the growing prevalence of breast cancer coupled with technological advancement in mammography devices, growing awareness regarding early diagnosis, and increasing investment from private players in the breast cancer screening campaigns are likely to drive market growth.
Risk of Adverse Effects from Radiation Exposure
The mammography procedure involves the subject or the patient to be exposed to multiple sets of radiation for therapeutic purposes, however, radiation therapy is not always good for the patient’s health. Extended exposure to radio waves can have adverse side-effects on the patient’s health, depending upon the levels of radiation the patient is exposed to. Internal exposure can sometimes cause deposition of certain elements in bones or organs. Thus, the risk associated with radiation exposure and decline in reimbursement rate is likely to restrain the market growth.
North America to Dominate the Market
North America is expected to hold the largest share of mammography market during the forecast period, due to rise in prevalence of breast cancer and growing awareness regarding early diagnosis, in the region. The Asia-Pacific region is anticipated to register a high growth rate during the forecast period, owing to factors such as growing aging population, growing government initiatives to create awareness regarding breast cancer, and early diagnosis.
Key Developments in the Market