By: IPP Bureau
Last updated : January 18, 2023 10:58 am
AI-based medical imaging equipment firm Lunit has signed a contract to supply AI-based breast cancer screening solution “Lunit Insight MMG”
With more companies leveraging the power of 3D mammography and artificial intelligence (AI) to provide early and accurate results and growing awareness of breast cancer among young women in South Korea, the market for digital mammography equipment is expected to grow at a compound annual growth rate (CAGR) of 11.60% between 2015 and 2030, forecasts GlobalData, a leading data, and analytics company.
GlobalData’s report, “South Korea Mammography Equipment Market Forecast, 2015-2030,” reveals that South Korea accounts for 18% of the mammography equipment market in the Asia Pacific (APAC) region, which is anticipated to grow rapidly.
Damini Goyal, Medical Devices Analyst at GlobalData, comments: “The denser breasts in younger women, especially Asians, make it more difficult to accurately detect tumors in breast tissue. This demands companies to effectively replace 2D mammography with AI powered 3D breast tomosynthesis (DBT) to overcome healthcare challenges.”
Against this backdrop, AI-based medical imaging equipment firm Lunit has signed a contract to supply AI-based breast cancer screening solution “Lunit Insight MMG” to Hong Kong Women's Imaging (HKWI) diagnosis imaging center and Mongolia's National Cancer Center in December 2022.
In November 2022, the company signed an agreement with CARPL.ai to accelerate AI-powered medical imaging across major international channels. Under the agreement, Lunit will deploy Lunit INSIGHT CXR, an AI solution for chest X-ray analysis, and Lunit Insight MMG in the US, Australia, Brazil, India, and Singapore via CARPL's platform. This indicates a growing demand for advanced mammography solutions across the globe.
Goyal concludes: “More such collaborations are expected between healthcare companies and tech sector amid the increasing demand of innovative mammography systems. This not only encourages domestic and international companies to invest and expand their market share but also provides convenience to radiologists in cancer detection, reduced false positives and patient recalls.”