Global Automated Breast Ultrasound Systems Market Is Anticipated to Reach US$ 2,900.0 Million By 2027 Due to Rising Incidence of Breast Cancer, Says Absolute Markets Insights

PUNE, India, July 10, 2019 /PRNewswire/ -- Rising incidences of breast cancer is expected to drive the global automated breast ultrasound systems market. The global automated breast ultrasound systems market is estimated to reach a market value of US$ 845 million in 2019 and is forecast to reach US$ 2,900 million by 2027, growing at an estimated CAGR of 16.7% over the forecast period.

High prevalence of breast related complications such as high breast density, breast cysts, etc are major reasons behind the need for breast imaging; therefore, the demand for automated breast ultrasound systems. In spite of other imaging technologies, ABUS are gaining rapid popularity owing to their higher ability to accurately diagnose cancer compared to traditional mammography alternatives. In fact, modern ABUS are more than 50% more accurate in detecting cancer compared to mammography. Escalated effectiveness and ease of use will generate more and more demand for automated breast ultrasound systems market worldwide. 

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Government initiatives regarding spreading awareness about breast cancer are prominent market reforming factors globally. Governments around the world have executed campaigns for promoting breast imaging practices. ''Be Clear on Cancer'' by Public Health England is one of such campaigns which raises breast cancer awareness among women above 70. Not only awareness, but research grants provided by organization such as ''Breast Cancer Now'' in the UK will act as a market growth augmenting factor over the forecast period. These awareness programs are now spreading from developed countries to developing countries such as India; where 'Breast Cancer India' by 'The Pink Initiative' is raising breast cancer awareness across the nation.

From the supply side of the market, provision of advance breast imaging systems by product manufacturers which offer better accuracy and reliability is resulting in rapid adoption of ABUS in various healthcare facilities around the world. Keen interest in ABUS from multi-specialty hospitals and clinics is proliferating ABUS uptake in small and medium hospitals. However, high cost of ABUS hinders its uptake in many healthcare facilities, especially in the developing countries.

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The detailed research study provides qualitative and quantitative analysis of global automated breast ultrasound systems market. The market has been analyzed from the scope of demand as well as supply. The analysis of demand covers market revenue across regions and further also across all the major countries. The analysis of supply covers the major market players and their regional and global presence and strategies. The geographical analysis emphasizes on each of the major countries across North America, Europe, Asia Pacific, Middle East & Africa and Latin America.

Key Findings of the Report:

• Automated breast ultrasound systems market segment held more than 50% of market share in 2018 and is estimated to reach a market value of over US$ 850 million by 2027. The growth is attributed to increasing product adoption due to its better image quality and accuracy. Increasing prevalence of breast cancer will fuel market growth in the near future.
• Automated breast volume scanners market segment is estimated to grow with CAGR of above 16% over the projection timeframe, owing to increasing technological advancements in scanners. Introduction of breast volume scanners in resource-poor nations will result in increasing market share of the same.
• Application of ABUS is majorly seen in hospitals among all other healthcare facilities because of large number of hospitals offer breast imaging services; moreover, high cost of these systems is more affordable to hospitals than other facilities. Over the forecast period, specialty diagnostics clinics will witness rapid uptake of ABUS due to increasing budgets and reimbursement provision.
• Asia Pacific automated breast ultrasound systems market is expected to witness a CAGR of over 24% during the forecast period. Increasing awareness and product adoption will contribute to market growth in this region.
• Key industry participants in U.S. home infusion therapy market are GE Healthcare, Siemens AG, Koninklijke Philips, SonoCine Inc., Delphinus Medical Technologies, Inc., SuperSonic Imagine, Nova Medical Imaging Technology Co.Ltd., Toshiba Company, MetriTrack Inc., QView Medical, NC. among others.
• Geographical expansion, introduction of new products, acquisition and collaboration are some of the strategies adopted by companies to expand their reach and gain competitive advantage.

• By Product
• Automated Breast Ultrasound Systems
• Automated Breast Volume Scanners
• Others
• By End User
• Hospitals
• Diagnostics Imaging Centers
• Others
• By Geography
• North America
• U.S.
• Canada
• Mexico
• Rest of North America
• Europe
• France
• The UK
• Spain
• Germany
• Italy
• Nordic Countries
• Benelux Union
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• New Zealand
• Australia
• South Korea
• Southeast Asia
• Indonesia
• Thailand
• Malaysia
• Singapore
• Rest of Southeast Asia
• Rest of Asia Pacific
• Middle East and Africa
• Saudi Arabia
• UAE
• Egypt
• Kuwait
• South Africa
• Rest of Middle East & Africa
• Latin America
• Argentina
• Brazil
• Rest of Latin America

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SOURCE Absolute Markets Insights