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Report
South Korea Mammography - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019 - 2029
Market Report I 2024-02-17 I 77 Pages I Mordor Intelligence
The South Korea Mammography Market size is estimated at USD 72.80 million in 2024, and is expected to reach USD 114.04 million by 2029, growing at a CAGR of 9.39% during the forecast period (2024-2029).
The COVID-19 pandemic has disrupted the spectrum of cancer care, including delaying diagnoses and treatment and halting clinical trials. Ensuring continuity of cancer care while fighting COVID-19 has been hugely challenging for South Korea. Even though the country was known to have the highest number of COVID-19 infections in the initial phase of the pandemic, it was able to efficaciously flatten the curve of these infections in a shorter period of time without extreme measures.
Countering rapidly to the circumstances and working in accordance with the South Korean government's COVID-19 policies, several private hospitals contained and handled COVID-19, infected patients, from areas wherein the healthcare amenities were overwhelmed. In the time being, public hospitals succeeded in keeping up with daily routines, and a maximum of the cancer centers across South Korea was able to support cancer care continuity under the systematic planning and planned resource allocation complying with the Korean Centers of Disease Control and Prevention (KCDC). This greatly boosted the uptake of mammograms among women as all the screening facilities were operational. Therefore, COVID-19 did not have a huge impact on the cancer screenings in South Korea.
South Korea has one of the highest per-capita income levels in not only the Asia-Pacific region but also the world. The country has seen its economy grow tremendously over the last few years. It thus has a well-funded healthcare system that allows patients to avail of the latest technologies in breast screening like mammography. Factors such as the growing incidences of breast cancer, technological advancements in the field of breast imaging, and the investment from various organizations in breast cancer screening campaigns.
Furthermore, as per the data from National Institute of Health 2021, mammography companies in South Korea are making use of artificial intelligence to deliver the best possible care to their patients. South Korean hospitals and clinics are using AI technology for various purposes, such as detecting breast cancer and reducing medical errors. The AI-powered systems also helped reduce the time spent on administrative tasks. As a result, doctors were able to spend more time on patient care, which will lead to better outcomes. Such factors are bolstering the market growth within the country. In addition, the adoption of tomosynthesis (3D mammography) is very high in South Korea, and it is replacing conventional mammography devices at a rapid rate.
Hence, with the above-mentioned factors, the market studied is expected to witness strong growth over the forecast period.
South Korea Mammography Market Trends
Breast Tomosynthesis is Expected to Witness Healthy Growth Over the Forecast Period
Breast tomosynthesis also known as Digital breast tomosynthesis (DBT)/3D mammography is a new technology that helps in improving the radiologist's ability to diagnose breast cancer. These types of mammography use a series of two-dimensional images to build a three-dimensional image of the breast. The growing demand for advanced mammography systems in the country is increasing the launches and research on the same boosting the segment growth.
The article, 'Development of digital breast tomosynthesis and diffuse optical tomography fusion imaging for breast cancer detection, published in 2020, stated that areas under the receiver operating characteristic curve were significantly improved when the digital breast tomosynthesis / Diffuse optical tomography (DBT/DOT) fusion images were used. Interobserver agreements were highest for the DBT/DOT fusion images. This study suggests that DBT/DOT fusion imaging technique appears to be a promising tool for breast cancer diagnosis. This technique, in combination with other advanced technologies, improves the screening of breast cancer in a shorter time.
As per the article 'Accuracy of Digital Breast Tomosynthesis for Detecting Breast Cancer in the Diagnostic Setting: A Systematic Review and meta-analysis', published in 2021, use of Digital breast tomosynthesis (DBT) was more accurate than digital mammography(DM) alone for the diagnosis of breast cancer. Women with clinical symptoms or abnormal screening findings could be more effectively evaluated for breast cancer using DBT, which has a superior diagnostic performance compared to DM alone. Therefore, the growing research on the technology is increasing the demand for the segment growth
South Korea Mammography Industry Overview
The South Korean mammography market is a consolidated one, owing to the presence of a few major players in the market. The major market players are focusing on technological advancements and reducing the side effects of the procedures. Some of the major players in the market are Canon Medical Systems Corporation, Fujifilm Corporation, GE Healthcare, Hologic Inc., Koninklijke Philips NV, and Siemens Healthineers.
Additional Benefits:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Growing Burden of Breast Cancer
4.2.2 Technological Advancements in the Field of Breast Imaging
4.3 Market Restraints
4.3.1 Risk of Adverse Effects from Radiation Exposure
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By Product Type
5.1.1 Digital Systems
5.1.2 Analog Systems
5.1.3 Breast Tomosynthesis
5.1.4 Other Product Types
5.2 By End User
5.2.1 Hospitals
5.2.2 Specialty Clinics
5.2.3 Diagnostic Centers
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Canon Medical Systems Corporation
6.1.2 Fujifilm Holdings Corporation
6.1.3 GE Healthcare
6.1.4 Koninklijke Philips NV
6.1.5 Siemens Healthineers
6.1.6 Carestream Health Inc.
6.1.7 Hologic Inc.
6.1.8 Bemems Co. Ltd
6.1.9 Planmed Oy
6.1.10 Neusoft Medical Co. Ltd
6.1.11 Genoray. Co. Ltd
6.1.12 Lunit Inc.
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