Automated Breast Ultrasound System Market size was over USD 200 million in 2015 and is expected to grow over 8% CAGR from 2016-2024.
Increase in breast cancer prevalence will drive the global automated breast ultrasound system market growth. According to World Cancer Research Fund, breast cancer is the second most widespread disease among women, responsible for over 1.7 million new cases in 2012. It constitutes to 12% of new cases and 25% of all other forms of cancer in women.
Request for an in-depth table of contents for this report
Lifestyle changes and environmental factors are responsible for at least 50% of cancer cases. Carcinogens found in plastics, cosmetics, pesticides, and polychlorinated biphenyls contains properties of estrogen, which increases risk. Several life style related changes such as drinking alcohol, long term active and passive smoking may also contribute to the automated breast ultrasound system market growth.
Rising health awareness and favorable government initiatives will support industry development. In Australia, the national screening program, BreastScreen Australia, provides a free breast screening test to women aged between 50 to 74, every two years.
Emergence of new technologies has enabled detection of small cancer tumors and tumor of dense tissue. Invenia ABUS is GE Healthcare’s novel non-ionizing screening alternative for women with dense tissue. The technology has proved to improve cancer detection by 55 percent as compared to mammography. Extensive R&D for enhanced cancer detection imaging techniques and growth in radiology devices market will further boost the market size.
ABUS market offers a non-invasive and radiation-free 3D ultrasound system used for breast cancer diagnosis. It is associated with several features such as quick around time, relative low cost of device, no operator dependency and assurance of improved diagnostic results. FDA approved automated breast volume scanner (ABVS), is capable of detecting small cancer tumors. This technology reduces scan time, increases reproducibility and sensitivity to give 3D images with coronal view.
ABUS market growth will be restrained by high manufacturing and maintenance cost of magnetic resonance imaging, increased exposure to radiation, inadequate insurance coverage and lack of expertise in this field. Hospitals, diagnostic and research laboratories represent the major application areas. Hospitals dominate the market in terms of revenue and accounts for over 50% market share in 2015.
U.S. automated breast ultrasound system market size, drives North America industry, with over 45% of global revenue in 2015, driven by increased prevalence, rising disease awareness, technological advancements and presence of major players in this market. According to ACS, it is estimated that about 246,660 cases of breast cancer will be identified in 2016 in U.S. alone.
Make an inquiry for purchasing this report
The industry expects strong growth opportunities in emerging countries such as China, India, Brazil and South Africa owing to increasing awareness towards detecting cancer at the primary stage, rising prevalence and increasing R&D expenditure for better technologies will drive growth in these regions.
Major players in the automated breast ultrasound system market share are General Electric Company (U.S), Koninklijke Philips N.V. (Netherlands), Hitachi Ltd.(Japan), Siemens AG (Germany), SonoCine Inc. (U.S.). Companies are investing more in research and development for the expansion of product portfolio and create competitive advantage in ABUS market. They are focusing on untapped emerging markets due to growing prevalence of breast cancer in these regions by increasing installation of ABUS in healthcare facilities and diagnostic imaging laboratories.
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.