Europe’s mammography systems market revenue will more than double from approximately $155 million in 2013 to an estimated $423 million by 2020, at a Compound Annual Growth Rate (CAGR) of 15%, according to new analysis from business intelligence provider GBI Research.
The company’s latest report states that this increase, which will occur across five major markets (Germany, the UK, France, Spain and Italy), will retain the same 15% CAGR witnessed by Europe’s mammography systems market over the past seven years, when it grew from $59 million in 2006 to just under $155 million in 2013.
GBI Research forecasts sustained expansion for Europe’s mammography systems market, despite the phasing out of Film-screen Mammography (FSM) systems in 2011, in favour of more advanced Full Field Digital Mammography (FFDM) systems, which are available in 2D and 3D.
The 2D FFDM systems market was valued at just under $123 million in 2013 and is forecast to exceed $242 million by 2020, at a CAGR of 10%. The 3D FFDM systems market will grow more rapidly, from just over $32 million in 2013 to almost $181 million by 2020, at an impressive CAGR of 28%, according to the report.
Srikanth Venkataraman, Analyst for GBI Research, says: “The European market is driven primarily by government initiatives to improve national breast cancer screening rates and the reimbursement scenario for breast tomosynthesis.
“Technical benefits associated with 3D mammography, such as improved detection rates due to greater sensitivity and specificity, alongside the ability to handle higher procedure volumes, will continue to steer demand for the modality during the forecast period.”
Germany will witness the largest total growth in the mammography systems market among the five major markets, expanding from $48 million in 2013 to $140 million by 2020, at a CAGR of 16%. The fastest growth will occur in Spain, with the market value rising at a CAGR of 19%, from just under $19 million in 2013 to almost $64 million by 2020, according to GBI Research.
