Automated Breast Ultrasound System (ABUS) Market Trends, Industry Analysis, Forecast Report by 2024
Date: 2018-09-03   Author: Rahul Sankrityayan  Category: #industry

Automated Breast Ultrasound System (ABUS) Market size is anticipated to experience significant growth of 16% CAGR from 2017 to 2024.

Rising prevalence of breast cancer in women will drive the automated breast ultrasound market significantly. As per American Cancer Society, 40,610 women died of breast cancer in 2017, and 252,710 suffers from invasive cases while 63,410 suffer from non-invasive cases. Increase in demand for automated breast ultrasound procedures due to growing breast cancer cases pertaining to family history, genetic predisposition,and benign breast disease will propel the industrial growth in the forecast period.

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Technological advancement in automated breast ultrasound system owing to improved healthcare infrastructure and large number of R&D activities will aggregate business growth. Introduction of several breast ultrasound technologies by several firms will also drive the market. For instance, Mayfair introduced automated breast ultrasound system in Canada that constitutes large number of women suffering from breast cancer, will help propagate business growth.

Increasing awareness about breast cancer by healthcare organizations will stimulate the industrial growth. Global organizations like Bright Pink, Project PINK BLUE, Think-Pink, Pink Caravan and Breast Cancer UK (BCUK) providesfunds and awareness associated with  breast cancer, its screening procedures and follow up care process through the world. This will raise the demand for automated breast ultrasound system, thus boosting the market.

High price associated with the automated breast ultrasound system will hinder the growth of the market. Furthermore, lower market penetration of automated breast ultrasound system in developing regions and lack of skilled professionals will restrain the growth opportunities of the automated breast ultrasound system market.

Automated breast ultrasound system dominated the market accounting over 51% market share in 2016 and is anticipated to exceed USD 850 million over the coming years due to its several advantages. ABUS provides better quality view with higher reproducibility, reduced time frame and less operator dependence, making it preferable in the market over other screening methods accelerating the market growth.

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Hospitals dominated the market share in 2016 owing to the increasing rate of breast cancer among women. Extensive R&D activities by companies to produce innovative products against breast cancer will also propagate the growth of the ABUS industry. With rising awareness among the people and several advantages offered by ABUS, the hospitals are bound to use ABUS to screen breast lesions, thereby propelling the growth of the segment.

The U.S. dominated the regional market share in 2016 owing to the growing number of breast cancer incidence. According to Breastcancer.org, 266,120 women are projected to be diagnosed with invasive breast cancer while 63,960 women with non-invasive  breast cancer in the U.S. Furthermore, presence of skilled professionals, sophisticated healthcare infrastructure and favourable government initiatives against breast cancer will propel the growth of the U.S. market.

Germany market for automated breast ultrasound system is expected to observe significant growth due to rising awareness programs by organizations and favourable government initiatives to install screening tests throughout Europe. Besides, Germany held the largest regional share accounting 25% of the total European revenue in 2016, thereby helping in enhancing the growth of the ABUS market.

Some of the key industry players of the automated breast ultrasound market include Philips Healthcare, GE Healthcare, Hitachi, Siemens, and SonoCine. These industry players focus on producing new innovative products to increase their product portfolio and strategic alliance to survive in the market. For instance, GE Healthcare announced its new product LOGIQ E10, to be launched, thus enhancing its product portfolio.



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Rahul Sankrityayan

Rahul Sankrityayan

Fortified with a post-graduate degree in Computer Applications, Rahul Sankrityan writes for AlgosOnline, where he pens down news and articles spanning across segments of technology industry that excite him on a day-to-day basis. Rahul comes with a rich experience in t...

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