March 25, 2020
According to the research report titled ‘Asia Pacific Automated Breast Ultrasound Systems Market Size by Product, End-Use, Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2018 – 2024’, available with Market Study Report LLC, Asia-Pacific automated breast ultrasound systems (ABUS) market is expected to surpass USD 742 million by the year 2024.
Favorable government initiatives along with increasing awareness pertaining to breast cancer are fostering the demand for automated breast ultrasound systems in Asia-Pacific. Rising number of national breast cancer screening programs is driving the market growth. Such programs focus primarily on early diagnosis of breast cancer which further helps in reducing the treatment costs. However, factors such as lack of skilled medical professionals, unfavorable reimbursement policies, and high cost of these devices may impede the overall growth of Asia-Pacific ABUS market.
As per product type, ABVS (automated breast volume scanner) segment is presumed to expand with a CAGR of 18% during 2018-2024. The devise develops 3D images which further helps in detecting breast cancer among asymptomatic women. It also addresses the limitations associated with handheld ultrasound systems. Automated breast volume scanners, when used along with mammography systems, offer enhanced diagnosis of the disease, which in turn is contributing towards the popularity of product across the globe.
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Citing the end-use landscape, diagnostic imaging centers segment is expected to grow with 18% CAGR between 2018 and 2024. Increasing development in healthcare infrastructure along with rising number of diagnostic centers which are equipped with ABVS or ABUS systems are promoting the business scenario in Asia-Pacific.
Considering the geographical landscape, automated breast ultrasound industry in Japan will witness a growth rate of 18.3% through 2024. The growth is attributed to increased pervasiveness of breast cancer and rising adoption of technologically advanced products for breast cancer diagnosis. Additionally, favorable regulatory scenario which promote early diagnosis of breast cancer is also supporting Japan market outlook.
The prominent companies functioning in Asia-Pacific automated breast ultrasound systems industry are Hitachi Ltd., SonoCine Inc., Siemens AG, Koninklijke Philips N.V., and GE Healthcare.
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