Automated Breast Ultrasound System Market Expected to Reach US$ 212.8 Million by 2027 - Future Market Insights
Automated Breast Ultrasound System Market: North America Projected to be the Most Lucrative Regional Market During the Forecast Period: Global Industry Analysis (2012 - 2016) and Opportunity Assessment (2017 - 2027)
Valley Cottage, NY, December 19, 2017 (Newswire.com) - Automated breast ultrasound system is used to obtain three dimensional (3D) images for breast cancer detection in women with dense breast tissue, using a transducer that scans the whole breast. An automated breast ultrasound system is a user-friendly system which consist intelligent imaging algorithms, touchscreen, transducer shaped for a woman’s anatomy, automated compression for patient comfort which provide efficient reading and analysis. Automated breast ultrasound system is used as a complementary method for assessing mammography or clinically-detected breast cancers in dense tissues. Automated breast ultrasound examination offers benefits such as less turnaround time, 3D images for detection and coronal view, among others ensuring improved diagnostic confidence.
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According to Future Market Insights, in terms of value, the global automated breast ultrasound system market is anticipated to be valued at US$ 212.8 Mn by end of 2027 from a value of US$ 110.3 in 2017, expanding at over 6.8% value CAGR throughout the forecast period.
Increasing demand for high end, advanced automated breast ultrasound system from end users, such as hospitals and diagnostic imaging laboratories for better throughput and performance will generate opportunities for launching of novel ultrasound techniques and services in the market over the long run and drive the growth of the global automated breast ultrasound system market. Automated ultrasound services help in increasing the throughput at a remarkable speed and with precise motion and consistency in report generation. The growing number of cancer treatment and real time result analysis with the advent of imaging techniques has led to a threefold increase in demand for automated breast ultrasound system.
For ultrasound service, various compatible solutions are available which ensure everything is in place to support smooth implementation on the platform. Ultrasound solutions help to anticipated to boost the growth of the global automated breast ultrasound system market over forecast period. The increasing strategic consolidation activities such as service agreements, technology transfer and collaborations among service providers and end users, is also expected to bolster the growth of the global automated breast ultrasound system market.
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Dearth of trained and skilled specialists and professionals to operate the tool may also stagnant the growth of the global automated breast ultrasound system market. The high cost of these automated breast ultrasound systems and services, and other graft related devices may restrain the growth of the market. Moreover, the higher maintenance costs associated with these system along with the exorbitant pricing for the training and development program for end users impede the practical implementation of automated breast ultrasound system.
Segmentation by End User
The automated breast ultrasound system market is segmented on the basis of end user into hospitals and diagnostic imaging laboratories. The hospitals segment contributed the leading shares to the market, and the trend is expected to continue over the forecast period owing to the increasing demand of automated breast ultrasound system over a forecast period. Next to diagnostic imaging laboratories segment is also anticipated to occupy a significant market share over the forecast period.
By region, the global automated breast ultrasound system market has been segmented into North America, Latin America, Western Europe, Eastern Europe, Asia Pacific Excluding Japan (APEJ), Japan and Middle East & Africa (MEA).
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Globally, in terms of revenue, North America has been estimated to account for the highest share of 42.1% in 2017, followed by Western Europe. Automated breast ultrasound system market in North America is estimated to reach a high valuation of US$ 94 Mn by the end of the assessment year and is projected to grow at a high 7.3% CAGR during the said period. Meanwhile, revenue from the market in Asia Pacific excluding Japan (APEJ) is expected to expand at the highest CAGR of 7.8% over the forecast period.
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Source: Future Market Insights