AUTOMATED BREAST ULTRASOUND SYSTEMS (ABUS) MARKET
Automated Breast Ultrasound Systems (ABUS) Market, By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2019-2027
Automated Breast Ultrasound System (ABUS) Market – Insights
Ultrasound uses high-frequency sound waves to assess organs and structures inside the body. The approach does not involve exposure to radiation. In automated breast ultrasound, a transducer that scans the whole breast is utilized to get three dimensional (3D) ultrasound images for cancer detection.
The global automated breast ultrasound system (ABUS) market is expected to account for US$ 271.1Mn in terms of value and 1,270 units in terms of volume by the end of 2027.
Global Automated Breast Ultrasound System (ABUS) Market: Drivers
Increasing prevalence of breast cancer is a major factor that is expected to boost growth of the global automated breast ultrasound system (ABUS) market over the forecast period. For instance, according to the World Health Organization, 2.1 million women globally suffer from breast cancer, annually. Moreover, in 2018, 627,000 women were reported to die from breast cancer across the globe.
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Moreover, increasing initiatives of government and private organizations to increase awareness about breast cancer among populace is also expected to fuel growth of the market. For instance, in December 2019, AMMETLIFE Insurance Bhd launched a fundraising campaign to support breast cancer awareness programs undertaken by the Pink Ribbon Wellness (L) Foundation.
North America region held dominant position in the global automated breast ultrasound system (ABUS) market in 2018, accounting for 41.6% share in terms of value, followed by Europe.
Global Automated Breast Ultrasound System (ABUS) Market: Restraints
Stringent regulations in various countries have restricted the use of automated breast ultrasound imaging techniques. Moreover, high cost of ultrasound systems compared to conventional cancer screening systems is also expected to hinder growth of the global automated breast ultrasound system (ABUS) market. For instance, on average, a new ABUS can cost around US$ 300,000.
Although ultrasound is quick and can boost cancer detection, it is also prone to false-positive biopsies, which is also expected to hamper growth of the market.
Global Automated Breast Ultrasound System (ABUS) Market: Opportunities
Increasing demand for early diagnosis and treatment of breast cancer is expected to offer lucrative growth opportunities for players in the global automated breast ultrasound system (ABUS) market. For instance, according to the National Center for Biotechnology Information (NCBI) statistics, women aged 30–34 years have chances for a 130.6% increase in incidence of breast cancer by 2025.
Moreover, key players in the market are focused on integrating full-field digital mammography (FFDM) with ABUS to develop a single platform that can offer improved quality images.
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Market Trends/Key Takeaways
North America and Europe is witnessing increasing prevalence of breast cancer among women. Moreover, low sensitivity of mammography in breasts with dense tissues has led to increasing adoption of ABUS.
Major hospitals worldwide are adopting ABUS to improve treatment outcome. For instance, in November 2019, St. Patrick Hospital, Montana (U.S.) installed ABUS.
Global Automated Breast Ultrasound System (ABUS) Market: Competitive Landscape
Major players operating in the global automated breast ultrasound system (ABUS) market include, General Electric Co., Siemens AG, Hitachi Ltd., QT Ultrasound LLC, Ikonopedia, and SonoCiné Inc.
Global Automated Breast Ultrasound System (ABUS) Market: Key Developments
Key players in the market are focused on adopting partnership and collaboration strategies to enhance their market share. For instance, in October 2019, GE Healthcare entered into a collaboration with Premier Inc. to develop a model to bring a same-day breast cancer diagnosis and treatment model to the U.S.
Key players in the market are also focused on adopting marketing strategies to enhance their market share. For instance, in December 2019, Ikonopedia demonstrated enhancements to its breast biopsy reporting tool designed to improve efficiency and clinical utility at the 105th Annual Radiological Society of North America (RSNA) meeting.
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