South America Mammography - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019 - 2029

South America Mammography - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019 - 2029

The South America Mammography Market size is estimated at USD 103.63 million in 2024, and is expected to reach USD 160.40 million by 2029, growing at a CAGR of 9.13% during the forecast period (2024-2029).

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 hormonally-linked 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.

South America Mammography Market Trends

Digital Mammography Systems Segment is Expected to Witness Significant Growth Over the Forecast Period

The digital mammography segment is anticipated to witness significant growth in the market over the forecast period owing to the factors such as rising breast cancer cases as well as increasing adoption of a digital system for breast screening.

In digital mammography, solid-state detectors take the place of X-ray films to produce images of the breasts by converting X-rays into electrical signals. Digital mammography systems use digital sensors and computers to check for the presence of tumors in breast tissues and the electrical signals produce images of the breast on special film similar to conventional mammograms.

Several advantages offered by digital mammographies, such as permitting rapid and accurate needle placement, speeding the biopsy procedure and minimizing discomfort, using less radiation, having better picture clarity, and the ability to alter the photos afterward, over other systems make it a more preferred choice during breast cancer screening.

Furthermore, the rising company focus on adopting various key strategies such as partnerships, collaboration, and others increases the development of novel and technologically advanced mammography systems. This is also expected to boost the segment's growth over the forecast period. For instance, in July 2021, Pro Mujer partnered with Mamotest to provide mammograms to more than 3,000 women in Jujuy, a province in Argentina's remote northwest. The partnership allows Pro Mujer patients, in the Jujuy province, more access to state-of-the-art digital mammography services.

Therefore, due to the aforementioned factors, such as the advantages offered by digital mammograms, and increasing company activities, the studied segment is expected to grow over the forecast period.

Brazil is Expected to Have the Significant Market Share Over the Forecast Period

Brazil is expected to hold a significant share of the mammography market over the forecast period owing to the factors such as the growing burden of breast cancer, rising awareness about breast cancer screening, and technological advancements.

The increasing incidences of breast cancer among the population raise the need to early detect and screen cancer which in turn is anticipated to fuel the demand for mammograms, thereby propelling the market growth. For instance, according to the 2023 statistics published by the GCO, about 121,177 new breast cancer cases are expected to be diagnosed in 2035, in Brazil as compared to 88,492 cases during the pandemic period (2020).

Furthermore, the strategic initiatives by market players to expand breast cancer screening are also expected to propel the market growth over the forecast period. For instance, in June 2022, Agendia, Inc. launched early access to its Digital MammaPrint platform for patients with breast cancer in Brazil. This launch assists the company to expand its offerings in the country to provide essential information from cancer testing to the larger global breast cancer community. The Digital MammaPrint allows physicians and their patients to benefit from genomic insights derived from a digitized image of a breast cancer tumor.

Therefore, owing to the aforementioned factors, such as the high burden of breast cancer and new product launches, the studied market is anticipated to grow in Brazil over the forecast period.

South America Mammography Industry Overview

The South American mammography market is consolidated, owing to the presence of a few major players. Some of the key players in the market are focusing on technological developments in mammography equipment. Some of the players in the market include Canon Medical Systems Corporation, Fujifilm Corporation, GE Healthcare, Hologic Inc., Koninklijke Philips NV, and Siemens Healthineers.

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