Automated Breast Ultrasound System Market will achieve 16% CAGR till 2024
SELLBYVILLE, Del., Dec. 27, 2017 /PRNewswire-iReach/ -- Global Automated Breast Ultrasound System Market is projected to surpass USD 2 billion by 2024; according to a new research report by Global Market Insights, Inc. Breast cancer prevalence is increasing globally. According to ACS estimates, more than 246,600 new cases of invasive breast cancer will have been diagnosed in 2016 in the U.S. alone. Introduction of advanced technologies has made it possible to detect small cancer tumors as well as dense breast tissue scanning. This technology has gained popularity due to its non-invasive, radiation-free, and three-dimensional imaging features for breast cancer diagnosis. Rising cancer prevalence rates and emergence of better breast scanning technologies will drive automated breast ultrasound system market growth.
Growing awareness through various programs and favourable government initiatives should fuel the automated breast ultrasound system market growth. Australian government launched breast cancer awareness campaign named "Breast Cancer won't wait, everything else can" for early diagnosis and effective treatment.
Increasing product innovation for development of more advanced breast cancer detection techniques will propel automated breast ultrasound system market growth. Automated breast volume scanner (ABVS) is a recent technological advancement that has significantly contributed to ABUS market growth.
Automated breast volume scanner (ABVS) market is slated to exceed USD 950 million by 2024, growing at more than 20% CAGR. ABVS holds benefits such as high reproducibility of images, reduced scan time, delivery of coronal view 3D images with high sensitivity. It also provides high resolution imaging with innovative applications such as fatty tissue imaging and elasticity imaging.
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Strong capital investment trends along with high maintenance cost, unattractive reimbursement policies, and awareness regarding consequences of exposure to radiation could restrain automated breast ultrasound system market growth.
Automated breast ultrasound system (ABUS) held more than 45% of industry share in 2015, growing product penetration owing to its improved diagnostic capabilities will stimulate industry demand. Automated Breast Volume Scanner (ABVS) is set to witness a robust 21% CAGR, with the ability to detect small tumors quickly in conjunction with breast imaging will maintain segment growth.
U.S. automated breast ultrasound system(ABUS) market led the regional industry owing to increasing prevalence and adoption of advanced breast screening technologies. Favorable government initiatives, reimbursement scenario and presence of leading market players will stimulate automated breast ultrasound system market growth.
China automated breast ultrasound system market share was more than 60% of regional revenue in 2015, with target market size set to reach around USD 1 billion by 2024. Growing population, increasing breast cancer prevalence and growing awareness regarding early detection of breast cancer should expand revenue.
Browse key industry insights spread across 118 pages with 106 market data tables & 10 figures & charts from the report, "Automated Breast Ultrasound System (ABUS) Market" in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/automated-breast-ultrasound-market
Brazil automated breast ultrasound system market witnessed more than 20% CAGR from 2016 to 2024, with expectations to surpass USD 60 million by 2024. Restricted access to effective breast screening technologies, lack of awareness and delayed diagnosis provide ample business expansion opportunities to regional industry players.
Automated breast ultrasound system market is dominated by few giant players such as are General Electric Company, Siemens, Hitachi, SonoCine, Siemens, Toshiba and Koninklijke Philips.
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New technologies are being introduced by players such as Siemens Healthcare, and SonoCine in automated breast ultrasound system market through collaborations and strategic alliances. The new ABVS technology recently approved by FDA, detects small cancer tumors in less time, as well as increases sensitivity and reproducibility of 3D images.
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