Demand for Automated Breast Ultrasound System Is Set to Record a Value CAGR of 9.3% Over the Period of Forecast
The global sales of automated breast ultrasound system 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 revenue share of the automated breast ultrasound system is set to reach nearly US$ 345 Mn in revenues by 2027-end.
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.
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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.
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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Tested research methodologies employed for developing this report assure that forecasted market size valuations follow a specific growth pattern on the basis of impact of causative factors. This information reveals the dynamics of the global automated breast ultrasound system market across parameter such as
- Changing regulations on automated breast ultrasound system manufacturing
- Platforms for cost-effective procurement of raw materials
- Technological advancements in the working of automated breast ultrasound system
- Supply chain challenges
- Impediments for penetrating untapped markets
A cumulative effect of such factors provides the driving force for expansion of the global automated breast ultrasound system market. This study clarifies the impact of growth drivers, sales restraints, market trends and business opportunities with the forecasted findings.
|Latin America||Diagnostic Centers|
(Additional information, including cross-sectional data and country-wise analysis & forecast is available in the report)
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- Key market players profiled by Fact.MR’s report
- Koninklijke Philips N.V.
- Hitachi, Ltd.
- Siemens AG
- Delphinus Medical Technologies Inc.
- GE Healthcare.
Assessing Insights on Expanding Global Footprint
Understanding the lucrativeness of regions is a key challenge for companies in the global automated breast ultrasound system market. Information of country-specific markets and regional undercurrents is being offered to expand the knowledge of automated breast ultrasound system companies. Insights on low-wage countries, regions with favorable industrial regulations and concentered consumer marketplaces can influence the expansion strategies of manufacturers.
The scope of this report is to address major concerns of automated breast ultrasound system manufacturers in terms of product development, sales growth and geographic expansion. Inferences in the report are aimed to help market players take informed steps towards future market direction.
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