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Automated Breast Ultrasound System Market to record a value CAGR of 9.3% over the period of forecast 2018 to 2027

09-11-2018 09:33 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: Fact.MR

Automated Breast Ultrasound System Market to record a value CAGR

The global automated breast ultrasound system market will exhibit a volume CAGR of 11.1% during the forecast period (2018-2027), according to a new analytical research study of Fact.MR. The report estimates the global automated breast ultrasound system market to reach nearly US$ 345 Mn in revenues by 2027-end.

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ABUS gaining Competitive Edge over HHUS

Breast cancer has prevailed as most commonly diagnosed cancer type, and has become the second leading cause of mortality among women, according to statistics unveiled by National Breast Cancer Foundation. With growing awareness about breast cancer, number of screening procedures has proliferated, thereby propelling demand for advanced diagnostic and follow-up care technologies such as automated breast ultrasound systems in diagnostic centers and hospitals. Facilitated screening of denser breast’s tissues, along with the provision of superior image quality, has offered automated breast ultrasound system (ABUS) a competitive edge over the handheld ultrasound system (HHUS).

As automated breast ultrasound system are approved by the FDA for screening in coordination with mammography, in case of women with denser breast tissues, radiologists are increasingly opting for the technology. On the back of high quality 3D images offered by ABUS, surgeons are employing the system for pre-operative breast evaluation to identify tumor size and location accurately. However, high cost, and lack of skilled radiologists needed for ABUS have made surgeons to opt for HHUS for pre-operative evaluation.

Governments across the globe are launching awareness campaigns for encouraging women with breast cancer to take professional help and undergo diagnosis. Public Health England, for example, launched a campaign – Be Clear on Cancer’ in 2015 for raising awareness on breast cancer among women over seventy years old. In addition, the Breast Cancer Now Catalyst Programme encouraged and offered tremendous support to research and development in diagnosis and treatment of breast cancer. Awareness campaigns on breast cancer are further expected to influence demand for automated breast ultrasound system.

Key Takeaways from Fact.MR’s Report on Automated Breast Ultrasound System Market

North America will continue to account for bulk share of the global automated breast ultrasound system market. The U.S. is expected to remain the most lucrative country for the market growth in North America, on account of growing breast cancer prevalence and adoption of advanced screening technologies. Presence of leading market participants, favorable government initiatives, and reimbursement scenario are key growth determinants for automated breast ultrasound system market in North America.
Asia-Pacific excluding Japan (APEJ) is estimated to be the fastest expanding market for automated breast ultrasound system through 2027. Revenues from the market in Europe will remain comparatively larger than those from APEJ, and lower than those from North America.
On the basis of care type, Hospitals will continue to spearhead the global automated breast ultrasound system market, in terms of revenues. However, revenues from care provided by diagnostic centers will increase at a relatively higher CAGR through 2027.

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Leading players in the global automated breast ultrasound system market have been following a strategic inorganic expansion roadmap. GE Healthcare, for instance, acquired U-Systems, Inc., for expanding its portfolio of breast care innovations. Philips and SonoCine, Inc., entered into a partnership for making developments in ABUS imaging. Acquisitions and partnership activities among market players have significantly influenced development of automated breast ultrasound system. Key market players profiled by Fact.MR’s report are SonoCine Inc., Koninklijke Philips N.V., Hitachi, Ltd., Siemens AG, Delphinus Medical Technologies, Inc., and GE Healthcare.

About Fact.MR

Fact.MR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized market research reports. We believe transformative intelligence can educate and inspire businesses to make smarter decisions. We know the limitations of the one-size-fits-all approach; that's why we publish multi-industry global, regional, and country-specific research reports.

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