South America Mammography Market - Growth, Trends, and Forecasts (2020 - 2025)
The major factors for the growth of the South American mammography market include the rising incidences of breast cancer, research and development in the field of breast cancer therapies, and advancements in the technologies of breast imaging modalities.
The rising incidence of breast cancer in the region is expected to drive the overall growth of the market over the forecast period. Breast cancer is the leading cause of cancer death, with about 43,000 deaths annually in Latin America and the Caribbean as per the data of Pan American Health Organization. The prevalence of breast cancer is rising in South America, owing to the increased prevalence of hormonallylinked factors, such as delayed childbearing and lower parity, as well as lifestyle risk factors. The rising cases of breast cancer may create a huge demand for safe and accurate diagnosis of the disease.
Furthermore, most of the market players are focusing on the technological advancements of the products. Thus, owing to the rising cases of breast cancer, the South American mammography market is expected to witness high growth over the forecast period.
Key Market Trends
Digital Mammography Systems Segment is Expected to be the Fastest Growing Segment During the Forecast Period
The 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 the presence of tumors. So far, conventional screen film mammography (SFM), with highspatial resolution, has been the preferred choice for screening programs in most countries. However, with the advent of digital mammography, most of the users are shifting toward these new 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. Thus, digital mammography is becoming the preferred choice of screening, even though the cost of the new technology is six times higher than the conventional systems. Radiation exposure is significantly lower, when compared to analog systems. Thus, owing to the all aforementioned factors the market studied is expected to witness high growth rate over the forecast period.
The South America mammography market is a consolidated market, owing to the presence of a few major players. Most of the market players are focusing on technological developments of mammography equipment. Some of the players, such as Canon Medical Systems Corporation, Fujifilm Corporation, GE Healthcare, Hologic Inc., Koninklijke Philips NV, and Siemens Healthineers, hold significant market share.
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