Mammography equipment has gained wide scale recognition in past few years owing to increasing demand for fully digital mammography equipment. It is considered gold standard when it comes to early screening of breast cancers. Installations is increasing with emergence of specialty hospitals and rising prevalence breast cancer cases.
Global mammography equipment market size is estimated to be valued over USD 1,590 million in 2019 and will register a CAGR of 5.6% to create 1.6X higher revenue by 2028.
The industry is highly consolidated with top players accounting for over 95% market share in 2018. Hologic, Inc. is the market leader with strong distribution network in North America.
Companies are focusing on partnership and extensive product development in order to stay agile. The industry has come a long way from film mammography to full field digital mammography and is expected to further witness product development to ensure long term demand. In 2017, Hologic launched SmartCurve Breast Stablization system. As of 2018, Hologic has installed over 5,000 mammography units in North America. In the same year, GE announced FDA clearance of its product Senographe Pristina Mammography System with patient assisted compression. The trend is likely to continue throughout the forecast period.
Various macroeconomic factors has created favorable ecosystem for players. Regulatory compliance and reimbursement policies is one such driving factor. In U.S., the Centers for Medicare and Medicaid Services created reimbursement policies for digital mammography procedures. Another factor is higher number of breast cancer cases. According to World Cancer Research Fund, over 2 million new cases of breast cancer were diagnosed in 2018. It is expected to further rise with change in quality of life and rise in population to some extent. While the industry will have upward trajectory growth, it is expected to face few challenges. Recently, in 2015, the American Cancer Society issued guidelines recommending women start mammograms at age 45. This was earlier 40. Also, the council recommended mammograms biennially rather than annually. This could have slight impact on net sales. Furthermore, consolidation in mammography equipment market could led to pricing pressure on companies in near future.
Global Mammography Equipment Market Analysis, By Equipment Type
Based on equipment, the equipment is analyzed across film mammography and digital mammography. Film mammography has been in market since last five decades. While film mammography has been effective in diagnosing breast cancer, results seemed to be not that effective in women with thick breast tissue. As such, digital mammography has gained high prominence since last decade.
In 2018, digital mammography accounted for largest share. At the same time, film mammography has lost major market share. Digital mammography is further analyzed into 2D and 3D. While 2D mammography unit dominated the sales, future growth will be propelled by higher sales of 3D mammography equipment worldwide. 3D mammography units are 30% costlier compared to 2D units and offers high profit margins to vendors. Percent penetration of 3D mammography equipment will rise with expedition in FDA approval. Recently, in 2017, Fujifilm received pre-market approval from FDA for digital breast tomosynthesis software upgrade. In 2014, GE received FDA approval for its 3D mammography device.
Global Mammography Equipment Market Analysis, By End-Users
Majority of sales is made to specialty hospitals and cancer center units. Companies are extensively entering in partnership and direct distribution channel in order to boost sales worldwide. For instance, in March 2018, Hologic entered in partnership with Philips to offer complete set of innovative diagnostic imaging systems, software and services to clients. The move is expected to help Hologic further strengthen its presence and gain good presence in specialty hospitals owing to integrated service. Other companies are also focusing on scaling direct distribution pattern. In the same year, Fujifilm Medical Systems U.S.A., Inc. has announced that nine healthcare systems across the United States have selected Fujifilm’s ASPIRE Cristalle mammography system.
Global Mammography Equipment Market Size, By Region
Globally, North America accounted for 42% market share in 2018, followed by Western Europe and Asia Pacific. The region is at forefront of technological advancement with high healthcare spending. The region has many specialized cancer screening centers. Also, the region has favorable reimbursement policy which in turn has boosted the sales of mammography equipment.
Asia Pacific will register fastest CAGR of 9.1% during the forecast period. Sales in the region is driven by increasing demand for 2D mammography in China and India. It is highly unlikely that 3D mammography units will takeover 2D during the forecast period. The region is cost sensitive and as a result, 2D systems is expected to continue to dominate the sales throughout the forecast period, however, at relatively slower pace than 3D uptake.
Global Mammography Equipment Market Size and Forecast: Competition Landscape
Some key global Mammography Equipment market players are
- Hologic Inc.
- GE Healthcare
- Toshiba Medical Systems Corp.
- Siemens Healthineers
- Philips Healthcare
- Planmed Oy
Mammography Equipment Market Industry Segmentation
- Film Mammography
- Digital Mammography
- Multi Chain Hospitals
- Specialty Hospitals
- Diagnostic Centers
- Ambulatory Surgical Centers
What Will You Discover in the Report?
- An in-depth analysis of the Mammography Equipment market across regions – North America, Latin America, Western Europe, Central and Eastern Europe, Asia Pacific, Middle East, and Africa.
- How the Mammography Equipment market sales is expected to grow throughout the forecast period.
- How geopolitical policies and technological changes will affect the Mammography Equipment market in near future
- Where the stakeholders should invest to generate higher profit margins
- How consumers (end-users) will reflect to the Mammography Equipment industry during the forecast period
- Who are the Mammography Equipment industry leaders and what are the key initiatives taken by them for long term growth
Analyst access with Bekryl Market Analysts
Purchasing of Mammography Equipment market research report will give clients access to 120 minutes telephonic access with a research analyst. The duration for access to analysts will be based on the report subscription editions.
Mammography Equipment Market Research Methodology
Bekryl Market Analysts has earned reputation within the market research and consulting industry for its ability to not only collect and reprint data but also its ability to build upon its extensive models and databases to provide meaningful forecasting and strategic planning services to clients.
Our research analyst and industry experts thoroughly investigates the industry by extensively interviewing the industry leaders and analyzing information from various secondary sources. The information collected is analyzed with the help of analytical tools to offer real time forecast solutions.
Mammography Equipment Market Growth Forecasting Methodology
In order to prepare historical data and analyze Mammography Equipment market forecast, Bekryl prepare data for product supply and actual demand from end-use consumers. Through this, we get to know actual demand for Mammography Equipment market globally. The data collection is done through secondary and primary market research and then a constructive model is developed.
- Secondary market research involves data collection through various paid publications and government agencies. Various journals and pre-encrypt transcripts is decoded to get the real time data solutions
- The data collected through secondary research is then validated with the industry experts to minimize the anomaly and reflect key stakeholders opinion in the report.
With the model constructed, the cluttered data collected through different sources is structured with the help of proprietary analytical tools – making us understand the variation happened in the current year compared to historical years. To forecast Mammography Equipment market revenue, Bekryl Market Analysts takes in consideration the demand growth of the segments. Demand for the product is dependent on end-user spending which is a function of many factors: amongst them macroeconomic strength, price variation and other base factors.
The forecast methodology requires extensive data analysis across countries. Among all the factors, GVA and GDP output is considered as the first set of approximation. Bekryl Market Analysts has developed a demand driven model based on GDP across targeted countries. Under this, co-relation is analyzed between product and GDP – resulting in a constant GDP-Product coefficient. Higher the coefficient- greater will be the growth rate. For instance, GDP-Product segment coefficient matrix of 3 denotes Mammography Equipment industry growth is nearly 3.5X to 5.5X higher than the relative GDP.
Besides GDP-Product Coefficient, Bekryl establishes following relation variation for higher predictive analysis.
- Base Factors Growth Analysis
- Price Variation Analysis
- Potential Consumer Mapping
Mammography Equipment Industry Players: Competition Landscape Methodology
Bekryl maps key market players across regions. Financial ratios is taken in consideration along with regional presence and their value chain to understand the company market strength. Thereafter, investment proposition for each company is proposed which gives coefficient matrix value for the company. Industry experts is also reflected in company landscape.