Automated Breast Ultrasound Systems (ABUS) Market to Grow Globally

Use of conventional handheld ultrasound systems (HHUS) is time consuming and requires technical skills in analyzing the images. The advent of automated breast ultrasound systems (ABUS) has helped alleviate this issue. In 2015, the U.S. Food & Drug Administration (FDA) approved ABUS for supplemental screening of women with dense breasts. Its usage in preoperative evaluation is also increasing in order to identify the presence and amount of cancer tissues, prior to the surgery. Hence, it is vital for ultrasound system manufacturers to closely monitor the various trends in this highly lucrative market and accordingly align their business strategies in order to capitalize on these opportunities.

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Market dynamics

High prevalence and incidence rate of breast cancer is a major factor contributing towards growth of automated breast ultrasound systems market. According to the American Cancer Society, 246,660 new cases of breast cancer would be reported in the U.S. in 2016. Moreover, the risk of breast cancer increases with age. Initiatives by the WHO in collaboration with national governments to promote early detection, diagnosis and treatment is further propelling demand for ABUS for breast screening. However, high costs associated with installation and training of personnel is constraining market growth. Therefore, companies are adopting strategies such as providing FDA approved on-site training, entering into strategic agreements, and introducing innovations in their existing portfolio in order to enhance their market presence.

Market Taxonomy

This report segments the automated breast ultrasound systems market on the basis of product type, application, and end use. On the basis of product type, the market has been segmented into prone-type and supine-type automated breast ultrasound systems. On the basis of application, the market has been classified as screening and pre-operative evaluation. In terms of end use, the ABUS market is segmented into hospitals, ambulatory surgical units, and diagnostic centers. The ABUS market is also analyzed across major geographies such as North America, Europe, Asia Pacific, Latin America, Middle East, and Africa.

Key features of the study:

-This report provides in-depth analysis of the automated breast ultrasound systems and provides market size (US$ Million), volume (number of units) and Cumulative Annual Growth Rate (CAGR) (%) for the forecast period (2016 – 2024) with 2015 considered to be the base year

-It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market

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-This study provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by the leading players

-The report takes into account critical limiting factors such as high installation cost and lack of government grants for installation of these systems while analyzing the market value, volume and growth (%) during the forecast period
Insights from this report would allow marketers and the management of companies to make informed decisions with respect to their future product launches, technology upgrades, market expansion, and marketing tactics

-It profiles leading players in the global automated breast ultrasound systems market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments, and future plans

-Key companies covered as a part of this study include Koninklijke Philips N.V, Siemens AG, SonoCine, Inc., General Electric Company, Hitachi Ltd. and iVu Imaging Corporation

-The global automated breast ultrasound systems market report caters to various stakeholders in this industry, including investors, component manufacturers, device manufacturers, distributors, new entrants, and financial analysts

-Stakeholders can access critical insights on driving factors such as increasing prevalence of breast cancer and government initiatives to create awareness about breast cancer and encourage early diagnosis for effective treatment
Stakeholders decision making would be greatly aided by the various strategy matrices used in analyzing the ABUS market

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This release was published on openPR.