Automated Breast Ultrasound Market Is Projected To Reach Worth $3.6 Billion By 2026: Grand View Research, Inc.

Automated Breast Ultrasound Market Is Projected To Reach Worth $3.6 Billion By 2026: Grand View Research, Inc.

“Grand View Research, Inc. – Market Research And Consulting.”
The global automated breast ultrasound market size was valued at USD 1.2 billion in 2018 and is expected to register a CAGR of 15.0% over the forecast period.

The global automated breast ultrasound market size is expected to reach USD 3.6 billion by 2026, expanding at a CAGR of 15.0%, according to a new report by Grand View Research, Inc. The rising incidence of this form of cancer, technological advancement, and various initiatives undertaken to raise awareness regarding cancer across the globe are expected to propel market growth.

Government, non-profit organizations, and various private companies are taking several initiatives to raise cancer awareness among women and men. The aim of these initiatives is to highlight the importance of cancer awareness and raise funds to support research on cancer treatment. For instance, the Estée Lauder Companies organized a breast cancer campaign in 2018 with an aim to inspire women suffering from cancer and to create awareness among people across the globe. This campaign was one of the largest corporate philanthropic initiative and was supported by the company’s employees. Furthermore, this campaign raised around USD 79.0 million, of which more than USD 65.0 million was utilized in 260 medical research grants through the Breast Cancer Research Foundation (BCRF) and in research, medical service, and education.

U.S. automated breast ultrasound market size, by product, 2015 - 2026 (USD Billion)

Such initiatives are expected to boost the demand for various automated ultrasound techniques for the screening of breast cancer, thereby propelling market growth. In addition, increasing prevalence of cancer across the globe is also anticipated to boost the demand for automated ultrasound systems. For instance, as per the Canadian Cancer Society in 2019, breast cancer is the most common cancer among Canadian women. Moreover, favorable reimbursement policies for cancer diagnosis and treatment are also expected to spur market growth.

Hospitals are the largest end users of automated ultrasound systems and this trend is likely to continue over the course of the forecast period. Favorable initiatives by governments and non-profit organizations and introduction of technologically advanced imaging equipment have driven this segment. North America is one of the most prominent markets, owing to high incidence of the chronic disease and growing awareness among patients regarding early screening and diagnosis.

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Further key findings from the report suggest:

  • In terms of revenue, the automated breast ultrasound system segment held the largest share in 2018 owing to the rising cases of cancer across the globe

  • The diagnostics imaging laboratories segment is anticipated to witness the fastest growth rate over the forecast period owing to the increasing number of diagnostic centers and rising demand for imaging techniques for cancer treatment

  • The Asia Pacific market is expected to witness the fastest growth over the forecast period owing to rising cases of cancer in women

  • Some of the prominent players in the automated breast ultrasound market are General Electric Company, Hitachi, Ltd., Koninklijke Philips N.V., and Siemens Healthineers AG.

Grand View Research has segmented the global automated breast ultrasound market on the basis of product, end use, and region:

Automated Breast Ultrasound Product Outlook (Revenue, USD Million, 2015 – 2026)

  • Automated Breast Ultrasound System

  • Automated Breast Volume Scanner

Automated Breast Ultrasound End Use Outlook (Revenue, USD Million, 2015 – 2026)

  • Hospital

  • Diagnostic Imaging Laboratories

  • Clinics

Automated Breast Ultrasound Regional Outlook (Revenue, USD Million, 2015 – 2026)

  • North America

    • U.S.

    •  Canada

  • Europe

    • U.K.

    •  Germany

  • Asia-Pacific

    • Japan

    •  China

  • Latin America

    • Brazil

    • Mexico

  • MEA

    • South Africa

    • Saudi Arabia

About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

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