subject: Mammography Equipment - Global Pipeline Analysis, Opportunity Assessment and Market Forecasts to 2016 [print this page] Mammography Equipment - Global Pipeline Analysis, Opportunity Assessment and Market Forecasts to 2016
Report Reserve announces inclusion of a new market research report to its premium store.
GlobalData's new report, "Mammography Equipment - Global Pipeline Analysis, Opportunity Assessment and Market Forecasts to 2016" provides key data, information and analysis on the global mammography equipment market. The report provides market landscape, competitive landscape and market trends information the mammography equipment market. The report provides comprehensive information on the key trends affecting the market, and key analytical content on the market dynamics. The report also reviews the competitive landscape and technology offerings. This report is built using data and information sourced from proprietary databases, primary and secondary research and in-house analysis by GlobalData's team of industry experts.
The US is the Biggest Market for Mammography Equipment
Source: GlobalData, GlobalData Epidemiology-based Market Forecasting Model, Primary Research Interviews, KOL Interviews
The US market for mammography equipment was valued at $419m in 2009 and is forecast to grow at a CAGR of 5% to reach $588m in 2016. The US is the biggest market, contributing 47% towards to the global mammography equipment market in 2009. The demand for mammography equipment in the US is mainly driven by high awareness level of the patient about the early detection of breast cancer and the availability of better treatment options after early diagnosis. The awareness programs initiated by government organizations and the Digital Mammographic Imaging Screening Trial (DMIST) have increased awareness of breast cancer and advantages of early diagnosis.
Further, the approval from the US FDA to reclassify digital mammography equipment as class II devices is expected to drive the US mammography equipment market. It will encourage the new products launch and competitive pricing by mammography equipment manufacturing companies.
Reclassification of Digital Mammography Equipment as Class II Devices by the US FDA to Drive the Market
The US FDA reclassified certain digital mammography devices capturing digital images of breasts to Class II. This decision by the US FDA eases the pathway to market for digital mammography systems that produce computerized X-ray images of the breast. Class I and Class II medical devices pose a lower risk. To gain approval for marketing, any Class II devices require only the submission of a pre-market notification, also known as a 510(k). The pre-marketing notification establishes the product as substantially equivalent to a device already in the market. In 2000, the US FDA categorized digital mammography systems as high risk or Class III devices, because they were then considered to be novel systems for screening and diagnosing breast cancer.
In 2001, DMIST was conducted by the National Cancer Institute (NCI) and the American College of Radiology imaging network to compare digital mammography and film screen mammography (FSM). The trail results reemphasized the fact that the screening by digital mammography is better than FSM. It actually benefits women with dense breasts, women who are in the pre or post-menopausal stage or women who are younger than 50 years of age by producing clear mammography images.
Raising Awareness of Breast Cancer, Screening and Early Detection is Driving the Growth of Mammography Equipment Market
In breast cancer patients, early detection aids in increasing survival rates. The US and Europe have initiated various breast cancer awareness programs such as National Breast Cancer Awareness Month, the Susan G. Komen race for the cure and Global Illumination.
The majority of breast screening programs have been implemented in developed countries. However, in emerging economies the implementation of these programs is proceeding steadily, leading to the increased installation of mammography systems. By 2009, the diagnosis rate for the breast cancer was high in countries such as the US with 54%, but low in emerging economies such as India with 29% respectively.
Increasing Incidence of Breast Cancer to Drive Market Growth
Breast cancer is the second leading cause of cancer death in women today after lung cancer. It is the most common cancer among women, in both developing and developed counties. According to estimates by the American Cancer Society (ACS), about 1.6m women are diagnosed with breast cancer annually worldwide. Currently, in developed economies, the lifetime probability of developing breast cancer is about 5%. In developing economies, the lifetime probability of developing breast cancer is about 2%. Changes in screening guidelines from biannual to annual and a wider range of ages covered in the screening programs to include more younger women are expected to lead to an increase in the patient population.
The risk of developing breast cancer in women depends on several factors, including family history, genetics, age of menstruation and other factors that have not yet been identified. While breast cancer is less common in women who are in their thirties, these women tend to have more aggressive breast cancers than older women. This may explain the low survival rates among younger women.
The Mammography Equipment Market is Expected to Grow at a CAGR of 5% from 2009 to 2016
Source: GlobalData, Secondary Research and Interviews with Industry Experts and Key Opinion Leaders
The global mammography equipment market is forecast to grow from $897.2m in 2009 to 1.2 billion by 2016 with a Compound Annual Growth Rate (CAGR) of 5%. The Full-Field Digital Mammography (FFDM) market is the largest segment in terms of market size and accounted for almost 88% of the total revenue generated from mammography equipment in 2009. The FFDM segment will continue to witness high growth, mainly because of approval from the US Food and Drug Administration (FDA) to reclassify certain digital mammography equipment as Class II devices. The global market for FFDM equipment is forecast to grow from $787m in 2009 to about $1.1 billion by 2016 with a CAGR of 5%.
Hologic is the Leader in the Global Mammography Equipment Market in 2009
Mammography Equipment Market, Global, Company Share (%), 2009
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