Global Automated Breast Ultrasound Systems(ABUS) Market 2019-2023
About this market
The lack of efficacy in breast diagnostic imaging and the need to reduce false-positive biopsies are leading companies to focus on product range expansion by developing next-generation and integrated ABUS. End-users are focusing on providing specialized care and treatment. Hence, many end-users are installing newly launched ABUS in their diagnostic units. The increasing number of ABUS launches and integrated tools for ABUS will drive market growth during the forecast period. Technavio’s analysts have predicted that the automated breast ultrasound systems (ABUS) market will register a CAGR of more than 14% by 2023.
Increasing demand for breast imaging products owing to growing prevalence of breast cancer cases
The growing number of breast cancer cases is boosting the demand for ABUS. Factors such as increasing age, a family history of breast cancer, radiation exposure, and post-menopausal hormone therapy can lead to breast cancer. Oncologists prefer using breast imaging products such as ABUS due to their efficacy in diagnostic results. With the growing number of breast cancer cases globally, the need for ABUS increases, thereby boosting market growth.
Product recall of ABUS due to labeling and design issues
End-users rely on companies that provide high-quality products, which can provide efficacious results. However, if any product enters the market with a deformity, it is either recalled by the firm that has developed it or regulatory bodies such as the US FDA and the Therapeutic Goods Administration (TGA). Product recalls can affect the brand image of the company and can lead to a reduction in sales revenue.
For the detailed list of factors that will drive and challenge the growth of the automated breast ultrasound systems (ABUS) market during the 2019-2023, view our report.
The market appears to be moderately concentrated and with the presence of limited vendors. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market’s competitive landscape and offering information on the products offered by companies.
Technavio Announces the Publication of its Research Report – Global Automated Breast Ultrasound Systems (ABUS) Market 2019-2023
Technavio recognizes the following companies as the key players in the global automated breast ultrasound systems (ABUS) market: GE Healthcare, Hitachi, Ltd., Koninklijke Philips N.V., Siemens Healthineers AG, SonoCiné.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is the funding and capital investments for the development of ABUS.”
According to the report, one of the major drivers for this market is the expansion of next generations ABUS and integration tools through product launches.
Further, the report states that one of the major factors hindering the growth of this market is the high cost of ABUS scanning and presence of low- cost alternatives.
Koninklijke Philips N.V.
Siemens Healthineers AG
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