Summary: [160+ Pages Report] According to the latest market research study published by Vantage Market Research, the demand analysis of Global Automated Breast Ultrasound System (ABUS) Market size & share revenue is expected to reach around USD 1807.3 Mn by 2028, at a CAGR of 15.9% between 2022 and 2028. The key market players are listed in the report with their revenues, sales, and strategies are GE Healthcare, Siemens AG, Koninklijke Philips N.V., Hitachi Ltd., Sono Cine Inc.
WASHINGTON, March 01, 2022 (GLOBE NEWSWIRE) -- Vantage Market Research’s recent analysis of the global Automated Breast Ultrasound System (ABUS) Market finds that the increasing prevalence of breast cancer is expediting market growth. Primarily driven by increasing obesity rate, the total global Automated Breast Ultrasound System (ABUS) market is estimated to reach USD 1807.3 Million by 2028.
The market stood at a revenue of USD 705.5 Million in the year 2021, and is expected to exhibit a Compound Annual Growth Rate (CAGR) of 15.9%.
Furthermore, the development of a number of novel technologies is also anticipated to augment the growth of the global Automated Breast Ultrasound System (ABUS) market, states Vantage Market Research, in a report, titled “Automated Breast Ultrasound System (ABUS) Market by Product (Automated Breast Ultrasound System, Automated Breast Volume Scanner, Others), by Application (Hospitals, Diagnostics Imaging Laboratories, Clinics, Others), by Region (North America, Europe, Asia Pacific, Latin America) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)”.
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List of Prominent Players in the Automated Breast Ultrasound System (ABUS) Market:
- GE Healthcare (US)
- Siemens AG (Germany)
- Koninklijke Philips N.V. (Netherlands)
- Hitachi Ltd. (Japan)
- Sono Cine Inc. (US)
Market Dynamics:
Driver: Increasing Obesity Rate to Stimulate Market Growth
The increase in obesity rate in women is anticipated to augment the Automated Breast Ultrasound System (ABUS) market during the forecast period. This is attributable to the increased intake of energy-dense foods that are high in fat and sugars and increase in physical inactivity due to the increasingly sedentary lifestyle and increasing urbanization. As estimated by World Health Organization about 13% of the world’s adult population were obese in 2016 out of which 15% of were women and 11% of were men. Most of the women who are overweight and obese after menopause are more prone to the risk of breast cancer. With more level of fat tissue in the body, the chances of getting breast cancer increases with rise in oestrogen levels. Furthermore, higher level of insulin that is another hormone is also found in women who are overweight which is been linked to some cancers, comprising breast cancer which is further expected to increase the demand for these systems in the years to come.
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Driver: Increasing Prevalence of Breast Cancer to Drive the Market Growth
The increasing prevalence of breast cancer across the globe is anticipated to augment the growth of the global Automated Breast Ultrasound System (ABUS) market during the forecast period. This is owing to the increasing radiation exposure, increased alcohol consumption along with taking hormones. According to The American Cancer Society, in 2021, the estimated new breast cancer cases in the U.S. were 284,200 out of which 281,550 were female and 2,650 were found in males whereas the estimated breast cancer deaths in U.S. were 44,130 in 2021. Hence, as the percentage of breast cancer is increasing the demand for the automated breast ultrasound system is also expected to increase in the years to come. However, low awareness regarding automated breast ultrasound in undeveloped economies and need of high investment for automated breast ultrasound systems may hamper the growth of the market in near future. Moreover, the development of a number of novel technologies used in cancer screening along with increasing preference for more superior cancer imaging will further support the growth of the market.
COVID-19 Impact Analysis:
The COVID-19 outbreak has affected various industries worldwide. Governments across the world implemented strict lockdown measures and social distancing norms in order to restrict the swift spread of the pandemic. Manufacturing facilities around the world were shut down during the initial stages of the pandemic. Moreover, the economic crisis after the pandemic might lead to a significant delay in the commercial roll-out of the healthcare industry. Small and medium-scale companies are the backbone of technology providers and are witnessing a steep drop in revenue since the emergence of the pandemic in 2020. Hence, market players faced numerous challenges as disruptions in the supply chain were observed. However, things will improve in the second half of 2022 as more supplies will come online. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data points:
- Impact Assessment of COVID-19 Pandemic
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- Quarterly Market Revenue Forecast by Asia Pacific 2020 & 2021
- Key Strategies Undertaken by Companies to Tackle COVID-19
- Long Term Dynamics
- Short Term Dynamics
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The report on Automated Breast Ultrasound System (ABUS) Market highlights:
- Assessment of the market
- Premium Insights
- Competitive Landscape
- COVID Impact Analysis
- Historic Data, Estimates and Forecast
- Company Profiles
- Global and Regional Dynamics
Regional Analysis:
North America Dominates the Global Automated Breast Ultrasound System (ABUS) Market
North America held the largest market share in 2021. The U.S. held the largest market share in North America in 2021. This is attributable to the increasing incidence of cancer and developed health care infrastructure coupled with in the region. Furthermore, increasing advancements in cancer biology and pharmacology promoting drug development along with increasing investments in R&D is also likely to support the regional growth of the market.
Asia Pacific is expected to grow at a fastest CAGR in global Automated Breast Ultrasound System (ABUS) market and is likely to continue the same trend during the forecast period. This is attributable to the rising healthcare expenditure and developing healthcare infrastructure along with huge target population in emerging economies like China, and India in the region. Additionally, increasing awareness about automated breast ultrasound system is also expected to support the growth of the market in near future.
Browse market data Tables and Figures spread through 167 Pages and in-depth TOC on "Automated Breast Ultrasound System (ABUS) Market by Product (Automated Breast Ultrasound System, Automated Breast Volume Scanner, Others), by Application (Hospitals, Diagnostics Imaging Laboratories, Clinics, Others), by Region (North America, Europe, Asia Pacific, Latin America) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)" View detailed Research Report here – https://www.vantagemarketresearch.com/press-release/automated-breast-ultrasound-system-abus-market-275808
Key questions answered in the report:
- Which regional market will show the highest and rapid growth?
- Which are the top five players of the Automated Breast Ultrasound System (ABUS) Market?
- How will the Automated Breast Ultrasound System (ABUS) Market change in the upcoming six years?
- Which application and product will take a lion’s share of the Automated Breast Ultrasound System (ABUS) Market?
- What is the Automated Breast Ultrasound System (ABUS) market drivers and restrictions?
- What will be the CAGR and size of the Automated Breast Ultrasound System (ABUS) Market throughout the forecast period?
This market titled “Automated Breast Ultrasound System (ABUS) Market” will cover exclusive information in terms of Regional Analysis, Forecast, and Quantitative Data – Units, Key Market Trends, and various others as mentioned below:
| Report Attribute | Details |
| Market Size in 2021 | USD 705.5 Million |
| Projected Market Size in 2028 | USD 1807.3 Million |
| CAGR Growth Rate | CAGR of 15.9% From 2022 – 2028 |
| Base Year | 2021 |
| Historic Years | 2016 - 2020 |
| Forecast Years | 2022 - 2028 |
| Segments Covered | Product • Automated Breast Ultrasound System • Automated Breast Volume Scanner • Others Application • Hospitals • Diagnostics Imaging Laboratories • Clinics • Others |
| Quantitative Data - Units | Revenue in USD Million/Billion and CAGR from 2022 to 2028 |
| Regions Covered | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
| Countries Covered | U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others |
| Report Coverage | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis. |
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