3 Key Research Findings from FMI’s Report on Automated Breast Ultrasound System Market though 2025
The global automated breast ultrasound system market will exhibit a volume CAGR of 8.1% through 2025, according to a new analytical research study of FMI. The report estimates the global automated breast ultrasound system market to reach nearly US$ 212.4 Mn in revenues by 202%-end.
With the rapid and wide spread of the coronavirus pandemic, the automated breast ultrasound system market is facing a moderate slump in the short term. Breast ultrasound procedures are largely considered to be elective procedures, which have been postponed during the pandemic to minimize the risk of the contagion. This trend will reduce demand in the near future. However, automation tech helps in remote screening solutions, which could potentially sustain operations during the crisis period.
“Factors such as increased cases of obesity, hormone replacement therapies, age risks, and drop in childbirth, have increased rates of breast cancer in recent years. Consequently, the demand for automated breast ultrasound systems has gone up significantly. These trends are likely to continue into the foreseeable future,” says the FMI analyst.
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Automated Breast Ultrasound System – Primary Takeaways
- Automated breast volume scanners will account for major revenue share owing to accuracy in lactiferous ducts.
- Diagnostic imaging centers are the primary end users of automated breast ultrasound systems, aided by infrastructure modernization drives.
- North America is a key market for automated breast ultrasound systems, aided by widespread cancer awareness initiatives. Asia Pacific is gaining ground supported by government expenditure on healthcare.
Automated Breast Ultrasound System – Growth Factors
- Rapid rise in breast cancer cases, among the female demographic is a major growth driver.
- Tech advances in supplemental cancer detection technologies is bolstering screening outcomes, and device adoption.
Automated Breast Ultrasound System – Major Constraints
- High costs and shortage of trained professionals are major challenges to market growth.
- Lack of awareness about automated breast ultrasound systems, particularly in developing economies restrains market growth.
The Projected Impact of COVID-19
The ongoing coronavirus pandemic is expected to have a moderate impact on the operations of the automated breast ultrasound systems market. Most countries have designated breast ultrasound procedures as electives, and are encouraging patients and healthcare professionals to postpone such activities for non-urgent cases, for the near future, in a bid to restrict the spread of the contagion. Recovery of the market is likely to be strong owing to the rising global number of breast cancer cases.
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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).
The automated breast ultrasound system market comprises players including but not limited to SonoCine Inc., GE Electric Co., Hitachi Ltd., and Siemens AG. Market players are pushing for product launches with tech advancements. For instance, GE Healthcare has developed an FDA-approved, automated breast ultrasound systems aimed towards the diagnosis of cancer in dense breast tissue.
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More about the Study
The FMI study provides detailed insights on automated breast ultrasound systems. The market is broken down in terms of product (automated breast volume scanner and automated breast ultrasound systems), and end user (diagnostic imaging centers and hospitals) across seven key regions (North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan, Japan, and MEA).
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