Spain Mammography Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Spain Mammography Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Spain's mammography market was valued at USD 49.39 million in 2021 and is projected to register a CAGR of 8.12% during the forecast period (2022-2027).

The COVID pandemic had an adverse effect on market growth. The impact of COVID-19 prompted Spain's health minister to declare in March 2020 that all private healthcare infrastructure will now be under public control as the nation fights to stop the coronavirus problem from getting worse. The private health industry in Spain experienced enormous reductions in routine activity and had to deal with astronomical COVID-19 cost overruns. The country's hospital admission rate for COVID-19 patients was approximately 33%, while general hospitals in Spain grew their personnel by 6% in 2020 compared to 2019, adding 5,000 additional professionals, according to an article published in the European Union of private hospitals in June 2021. However, the problems with the medical staff were severe because, at any given moment, about 26.3% of the workforce tested positive for COVID. Such factors are anticipated to impact the market growth adversely.

Factors such as the growing prevalence of breast cancer, coupled with research studies are expected to increase the market growth. According to information published by EUROPA DONNA, the European Breast Cancer Coalition, in Spain about 6,606 deaths were attributed to breast cancer in 2020, with an estimated 34,088 women receiving a breast cancer diagnosis. Incidence and death per 100,000 women, adjusted for age, were approximately 77.5 and 10.6 in 2020. The Spanish mammography market will benefit from the increasing incidence of breast cancer in the country. Cristina Romero Castellano claimed that the implementation of digital breast tomosynthesis enhanced screening quality indicators in the article "Breast Cancer Mortality After Eight Years of an Improved Screening Program Using Digital Breast Tomosynthesis" published in 2021. The mortality rate for breast cancer declined concurrently throughout Castilla-La Mancha. To evaluate the long-term effects and the contribution of the redesign to mortality reduction, more research is required. Thus, the abovementioned factors are expected to increase market growth.

However, the risk of adverse effects from radiation exposure, and reduction in reimbursement are expected to hinder the market growth.

Key Market TrendsDiagnostic Centers Segment is Expected to Hold a Significant Market Share Over the Forecast Period

Factors such as the increasing awareness in Spain, the increasing prevalence of breast cancer, and the presence of better healthcare infrastructure are the major factors attributing to the growth of this segment. Additionally, strategic initiatives undertaken by the major players are also expected to boost market growth. The anticipated five-year prevalence of breast cancer in Spain was 137,270, as reported in the International Agency for Research on Cancer 2020 report. The high incidence of breast cancer cases in Spain is anticipated to increase demand from specialized clinics for mammography equipment. Since many of these patients can go to clinics for their mammograms, this is anticipated to promote market growth. There are also a lot of new investments being made. For instance, Inbiomotion SL reported in January 2021 that it had obtained a round of funding that had been oversubscribed and was led by Alta Life Sciences Spain. The business is working on a test for predicting bisphosphonate response in adjuvant breast cancer situations and preventing metastases. Since these tests can also be performed in diagnostic facilities, such improvements could expand the market. Since there have been several awareness initiatives in Spain in recent years, more patients are likely to be interested in getting mammograms at diagnostic facilities. For instance, Establishment Labs Holdings Inc. stated in September 2021 that it will support Motiva Breast Health Day and the FIDE World Women's Team Championship in October. The company wants to promote early breast cancer detection, which can also be done by mammography, through both of these events. This should accelerate market expansion. The above developments are further expected to improve the market growth in this segment.

Competitive Landscape

Spain mammography market is moderately competitive and consists of several major players. Some of the companies that are currently dominating the market are GE Healthcare, Fujifilm Holdings Corporation, Siemens Healthineers AG, Carestream Health Inc., and Koninklijke Philips NV among others.

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