Image: The global automated breast ultrasound systems (ABUS) market is being driven by increasing government expenditure and rising awareness about breast cancer (Photo courtesy of Philips Healthcare).
The global automated breast ultrasound systems (ABUS) market was valued at over USD 0.68 billion in 2018 and is projected to grow at a CAGR 16.1% during the forecast period, 2019-2025 to surpass USD 1.8 billion by 2025, driven by increasing government expenditure and rising awareness about breast cancer. Initiatives such as free check-up camps and symposiums for raising awareness regarding early detection and diagnosis of breast cancer will lead to greater adoption of ABUS in the coming years. However, stringent regulations and guidelines for the approval of ABUS, coupled with the high cost of diagnostic procedure, could hamper the market growth during the forecast period.
These are the latest findings of Global Market Insights, Inc. (Selbyville, DE, USA; www.gminsights.com), a global market research and management consulting company.
ABUS is superior than conventional technologies in the detection of consistent breast lesion growth. ABUS assists during critical processes for identification and characterization of breast lesions, leading to reduced treatment costs. Moreover, ABUS provide precise anatomical images for breast cancer diagnosis, thereby majorly impacting operational and diagnostic efficiency. Increasing advancements in ABUS for accurate diagnosis and timely treatment will increase the adoption of breast ultrasound systems over the coming years.
High breast tissue density, lower childbearing and hormonal imbalance issues among women due to changing lifestyle are the major risk factors for breast cancer, thus providing lucrative opportunities for the growth of the global ABUS market. According to the World Health Organization, approximately 2.1 million patients suffer from breast cancer each year. The rising prevalence of breast cancer globally will generate significant demand for ABUS over the forecast period.
In 2018, the diagnostic imaging centers segment reported revenues of USD 0.65 billion. The adoption of ABUS in diagnostic imaging centers is estimated to witness rapid growth due to the expansion of early diagnosis and detection of cancerous cells in the body. The growing availability of specialized technology-based breast imaging techniques and cutting-edge imaging technologies in diagnostic facilities will augment the growth of the diagnostic imaging centers segment. Furthermore, the increasing number of facilities and healthcare infrastructure in the emerging countries will drive the segmental growth during the forecast period.
Geographically, the US held a share of more than 89.0% in the global ABUS market in 2018. The growing adoption of ABUS for the early detection of breast cancer, coupled with the implementation of government initiatives such as Pink Initiative, funding as well as increased awareness will act as the key drivers of the market growth in the US. Furthermore, the presence of established market players in the US will contribute significantly to the growth of the country’s ABUS market during the forecast period.
The ABUS market in Saudi Arabia is projected to grow at a lucrative CAGR of 20.1% during the forecast period, driven by rapidly emerging cancer diagnosis and treatment in the country. Increasing hospitals and government expenditure offering cost advantages are driving the adoption rate of ABUS in Saudi Arabia. Moreover, an increasing patient pool along with growing research activities for innovating ABUS will further aid the growth of the ABUS market in Saudi Arabia.
Global Market Insights, Inc.