The global breast ultrasound market size is anticipated to reach USD 6.36 billion by 2026, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 14.6% over the forecast period. Various factors such as high prevalence of breast cancer, various awareness initiatives, and rapid technological advancements are expected to propel the market growth.
Governments and non-profit organizations from around the world engage in various initiatives to raise awareness regarding breast cancer. The aim of these initiatives is to highlight the importance of awareness and early diagnosis and to raise funds to support research on breast cancer. For instance, Breast Cancer Awareness is a worldwide annual awareness campaign organized by thousands of organizations in the month of October. The aim of this campaign is to raise awareness and raise funds for breast cancer research.
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Similarly, the National Breast Cancer Foundation (NBCF) organizes various programs, such as Breast Cancer Awareness and National Mammography Program, to encourage early detection, education, and support services. Under the National Mammography Program, NBCF has also partnered with various medical facilities in U.S. to provide free breast cancer diagnosis services to the underserved women in the country.
Such initiatives are expected to increase the demand for various imaging techniques for the screening of breast cancer, thereby, boosting the market growth. Moreover, supportive reimbursement policies for breast cancer diagnosis and treatment is also anticipated to boost the breast ultrasound market growth over the forecast period.
Breast Ultrasound Market Report Highlights
• On the basis of product, Automated Breast Ultrasound (ABUS) segment is expected to witness the fastest growth over the forecast period, attributable to the rising demand for technologically advanced imaging techniques for early detection
• Hospital segment held the largest market share in 2018 owing to the rising prevalence of breast cancer
• Asia Pacific breast ultrasound market is anticipated to witness the fastest growth over the forecast period owing to the growing awareness regarding the disease and its treatment procedures
• Prominent market players are General Electric Company; Hitachi, Ltd.; Koninklijke Philips N.V.; Siemens Healthineers AG; Canon Medical Systems Corporation; Fukuda Denshi; and Hologic, Inc. The key companies are undertaking various initiatives, such as product launches, partnerships, and mergers and acquisitions, to strengthen their foothold in the market
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Breast Ultrasound Market Segmentation
Grand View Research has segmented the global breast ultrasound market report on the basis of product, end use, and region:
Breast Ultrasound Product Outlook (Revenue, USD Million, 2015 - 2026)
• Conventional Breast Ultrasound (CBUS)
• Automated Breast Ultrasound (ABUS)
Breast Ultrasound End Use Outlook (Revenue, USD Million, 2015 - 2026)
• Hospital
• Diagnostics Imaging Laboratories
• Others
Breast Ultrasound Regional Outlook (Revenue, USD Million, 2015 - 2026)
• North America
o U.S.
o Canada
• Europe
o U.K.
o Germany
• Asia-Pacific
o Japan
o China
• Latin America
o Brazil
o Mexico
• MEA
o South Africa
o Saudi Arabia
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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.