Automated Breast Ultrasound System Market is projected to register a healthy CAGR of 8.1% till 2027
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The global automated breast ultrasound system is expected to increase at a CAGR of over 6.8% and reach US$ 212.8 Mn in revenues in 2027. North America and APEJ has collectively accounted for nearly 55.6% revenue share of the automated breast ultrasound system in 2016. The growing number of cancer treatment cases and increasing real time result analysis with the advent of imaging techniques has led to a threefold increase in the demand for automated breast ultrasound system and services. Due to the dominant features and advantages, the automated breast ultrasound system, is preferred by hospitals, followed by diagnostic imaging laboratories.
Asia Pacific and MEA regions are the highest population regions. The rapidly developing health care infrastructure and increasing medical tourism in these regions is expected to play an important role in driving growth of global automated breast ultrasound system market.
Increasing demand for high end, automated breast ultrasound system from end users, such as hospitals and diagnostic imaging laboratories for better throughput and performance will generate opportunities for launching of novel ultrasound techniques and services in the market over the long run and drive the growth of the global automated breast ultrasound system market. Ultrasound services help in increasing the throughput at a remarkable speed and with precise motion and consistency in report generation. The growing number of cancer treatment cases and real time result analysis has led to a threefold increase in demand for automated ultrasound system for breast with advanced software and services.
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For ultrasound imaging, various compatible solutions are available which ensure everything is in place to support smooth implementation on the platform. The increasing strategic consolidation activities such as service agreements, technology transfer and collaborations among service providers and end users, is also expected to bolster the growth of the global automated breast ultrasound system market.
Hospitals segment will remain the largest segment by the end user, accounted for over 55.4% revenue share of the market in 2016. The hospital segment is estimated to reflect a market valuation of US$ 120 Mn by the end of the year of assessment and is projected to grow at a CAGR of 7% during the forecast period. The increasing demand of automated breast ultrasound system at end users such as hospitals & diagnostic imaging laboratories is anticipated to register a significant growth over the forecast period.
The developing medical industry in respect to advanced infrastructure and increasing medical tourism in the developing countries from the APEJ such as China, India will continue to have a positive impact on automated breast ultrasound system market in APEJ. An ease-of-use and economic convenience in the North America and Western Europe is anticipated to boost the growth of the automated breast ultrasound system market over a forecast period. The rise in discretionary funding for the research and development activities for the advanced and cost effective medical devices and integration services will also drive the market in the North America and Western Europe regions. MEA is at a nascent stage in the global automated breast ultrasound system market and is expected to show a moderate growth over a forecast period.
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GE Healthcare, Hitachi, Ltd., Siemens AG, Koninklijke Philips N.V. and Delphinus Medical Technologies, Inc are some of the key players in the global automated breast ultrasound system market. Companies in the global automated breast ultrasound system market are focusing on strategic alliances such as strategic agreements, collaborations, rising research and development activities, new product launches, joint ventures, partnerships, and mergers & acquisitions to sustain in the overall competition in the lab automation market.
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