Automated Breast Ultrasound System (ABUS) Market Size By Product (Automated Breast Ultrasound System, Automated Breast Volume Scanner), By End User (Hospitals, Diagnostic Imaging Centers), Industry Analysis Report, Regional Outlook (U.S., Canada, Brazil, Argentina, Germany, UK, France, Spain, Italy, Russia, China, Japan, India, Australia, Thailand, Saudi Arabia, UAE, South Africa), Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2017 - 2024
Published Date: January 2017 | 118 Pages | Report ID: GMI728 Report Format: PDF
Automated Breast Ultrasound System Market size was over USD 516.8 million for 2016, with 16% CAGR estimation from 2017 to 2024.
U.S. Automated Breast Ultrasound System Market size, by Product, 2012 - 2024 (USD Mn)
Rising incidence of breast cancer is expected to significantly contribute to automated breast ultrasound system market growth. As per World Cancer Research Fund (WCRF), breast cancer prevalence was estimated to be 25% more higher than other forms of cancers in women, with more than 1.6 million new cancer cases diagnosed in 2012.
Changes in environment and lifestyle related factors increases predisposition to breast cancer. Environmental chemicals found in cosmetics, plastics, polychlorinated biphenyls and pesticides contain estrogen properties, increasing risk levels. Moreover, increasing unhealthy habits such as smoking and drinking alcohol has led to considerable rise in cancer cases, driving the automated breast ultrasound system market growth.
Increasing awareness regarding breast cancer owing to government initiatives have resulted in a large number of women undergoing screening. Various charity organizations are working towards creating awareness regarding the disease and fund for research. For instance, a New York based charity organization Pink Ribbon Inc. supports the affected patients and their families globally.
Automated breast ultrasound system market growth will be hampered by lack of reimbursement in many regions, inadequate human resource with technical expertise to handle the equipment and interpret the results along with huge initial capital investment.
Automated Breast Ultrasound System Market, By Product
Automated breast ultrasound system (ABUS) captured the largest revenue share of over 51% in 2016, with estimated market size projected to cross USD 850 million by 2024. The largest share of ABUS should be attributed to the rising product penetration owing to its benefits such as quick turnaround time, affordability of devices, accurate diagnostic results, and operations without continuous operator monitoring.
Automated breast volume scanner (ABVS) is identified to be fastest growing segment, and projected to exceed USD 700 million by 2024. Combination of ABVS with mammography allows both detection and evaluation of the breast cancers, accelerating the automated breast ultrasound system market growth over future years.
Automated Breast Ultrasound System Market, By End user
Hospitals held more than 61% automated breast ultrasound system market share in 2016, witnessing a robust 15.8% CAGR from 2017 to 2024. Increased usage of ABUS systems in hospitals, improved funding and availability of skilled professionals will propel business segment growth.
R&D in field of breast cancer screening has led to introduction of advanced imaging techniques. This has enabled the detection of small cancer tumors as well as dense breast tissue scanning, boosting the overall automated breast ultrasound system market size. For instance, GE Healthcare’s Invenia ABUS improves cancer diagnosis by 55% in comparison to mammography. Recent technological advancements in ABUS market is the newly FDA approved automated breast volume scanner (ABVS), that detects small cancer tumors in less time, as well as increases sensitivity and reproducibility of 3D images.
Automated Breast Ultrasound System Market, By Region
U.S. automated breast ultrasound system market share held the largest regional revenue share in 2016. High breast cancer prevalence and favorable government initiatives stimulated industry growth. Additionally, growing awareness for cancer screening, and rapid adoption of technological developments should further complement automated breast ultrasound system market growth.
Germany automated breast ultrasound system market share was more than 25% of the European revenue in 2016. According to Immunological & Oncological Center, around 70,000 breast cancer cases are recorded each year. Moreover, increased screening programs and effective monitoring of these programs through clinical cancer registries have enabled early diagnosis and quality cancer care.
China automated breast ultrasound system market size is projected to exceed USD 400 million by 2024. The increasing awareness towards early breast cancer detection and technological advancements for better screening systems will fuel demand.
Competitive Market Share
The automated breast ultrasound system market is witnessing tremendous advancements in terms of new product development over the past few years. Several manufacturers are introducing innovative and advanced systems in order to stay ahead in the competition.
Key automated breast ultrasound system market companies include GE Healthcare, Siemens, Hitachi, SonoCine, and Philips Healthcare. The market players exhibit a fierce competition in the product price, quality, innovation, service, reputation, distribution and promotion. The comprehensive global coverage and product and service offerings provide a competitive advantage to these firms over small industry players.
Automated Breast Ultrasound System Industry Background
The automated breast ultrasound system market growth should be driven by major technological advancements witnessed in the industry space. Introduction of Invenia ABUS is being eyed upon as a major technological breakthrough, used for obtaining remarkable image quality and analyze breast tissues at different angles to achieve accurate screening and diagnosis of patients with breast cancer. Recently GE Healthcare launched Invenia ABUS, along with computer aided technology to provide 3D images for clinics to examine efficient breast tissues. Recently FDA approved QVCAD, a next generation Computer Aided Detection (CAD) System for 3D automated breast ultrasound screening based on deep learning algorithms. Such technological innovations are set to boost the automated breast ultrasound system market.
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