Breast Ultrasound Market Share and Growth (2021-2031)
The Breast Ultrasound Market is expected to register a CAGR of 7.2% from 2023 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.
The report is segmented by Product (Conventional Breast Ultrasound and Automated Breast Ultrasound); End User (Hospital, Diagnostics Imaging Laboratories, and Others). The global analysis is further broken-down at regional level and major countries. The Report Offers the Value in USD for the above analysis and segments.
Purpose of the ReportThe report Breast Ultrasound Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:
- Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
- Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
- Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.
Breast Ultrasound Market Segmentation
Product- Conventional Breast Ultrasound
- Automated Breast Ultrasound
- Hospital
- Diagnostics Imaging Laboratories
- Others
Strategic Insights
Breast Ultrasound Market Growth Drivers- Increasing Prevalence of Breast Cancer: According to the World Health Organization (WHO), breast cancer is the most prevalent cancer in the world. The incidence rate is steadily increasing. 1 in 8 women are expected to be diagnosed with breast cancer during their lifetime. Due to increased awareness and screening, detection rates are also increasing. The increased use of mammography has resulted not only in an increased rate of early-stage diagnosis but also in the actual increased incidence of cases.
- Rising Geriatric Population: As the population ages, the incidence of breast diseases typically rises. The median age of diagnosis of breast cancer is approximately 62 years old. As life expectancy increases, the incidence of breast cancer diagnosis is also increasing.
- Government Initiatives in Breast Imaging: Regulatory initiatives such as Mammography Quality Standards Act (MQSA) sets regulatory standards to ensure mammography facilities provide quality imaging services. This federal rule requires mammography machines and technologists obtain regular inspections and certifications so women can receive proper breast cancer screenings. The goals of the act are to identify breast cancer in its earliest and most treatable stages to increase survivability.
- Advancements in Imaging Technology: Advances in the technology of ultrasound equipment, including higher resolution imaging and the ability to do 3D ultrasound, are improving the diagnostic power of breast ultrasound.
- Further, detailed tissue visualization has been made possible by ultrasound breast imaging, potentially improving the detection of previously unseen lesions. The growth in adoption of these technologies may be a major driver of growth in the breast ultrasound market.
- Expansion of Point-of-Care Ultrasound: The trend is now towards point-of-care ultrasound, facilitating the delivery of breast ultrasounds for healthcare providers in primary care and outpatient clinics settings. This is done in myriad settings, making it possible to diagnose cases earlier on with appropriate interventions, thereby enhancing the reach of breast ultrasound services and making them more accessible to patients.
- Integration of AI: Great potential is embedded in the integration of AI into the breast ultrasound technology. Such algorithms can contribute significantly to image analysis for greater accuracy in diagnosis, and a significant amount of time required by radiologists to interpret the results. This means the overall efficiency in the process of breast imaging will be improved, making this a valued tool for use in clinical settings.
- Research Collaboration Initiatives: With such efforts put in government and institutional collaborations that target breast cancer, there is a likelihood of new applications emerging in ultrasound. Such initiatives can lead to more enhanced techniques and protocols in the process of breast ultrasounds aimed at making them more effective in screening and diagnosis.
- Approaches of Personalized Medicine: One of the emerging trends is that shifting towards personalized medicine will also influence the strategy for breast cancer management. Tailored screening and diagnostic approaches in respect to individual factors can increase demand for breast ultrasound as part of a comprehensive breast health strategy. This should better patient outcome and satisfaction.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Breast Ultrasound Market, providing a holistic landscape.
- Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
- Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
- Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.
The research report on the Breast Ultrasound Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
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- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
The U.S. held the largest share in 2023
Hospitals segment accounted for the largest share in 2023.
North America held the largest share in 2023
High cost of breast ultrasound equipment is one the factors critically impacting the market growth
The major factors driving the breast ultrasound market are:
1. Rising incidence of Breast Cancer
2. Rising Geriatric Population
3. Government Initiatives in Breast Imaging
The Breast Ultrasound Market is estimated to witness a CAGR of 7.2% from 2023 to 2031
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Breast Ultrasound Market - By Product
1.3.2 Breast Ultrasound Market - By End User
1.3.3 Breast Ultrasound Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. BREAST ULTRASOUND MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.2.1 North America - Pest Analysis
4.2.2 Europe - Pest Analysis
4.2.3 Asia-Pacific - Pest Analysis
4.2.4 Middle East and Africa - Pest Analysis
4.2.5 South and Central America - Pest Analysis
4.3. EXPERT OPINIONS
5. BREAST ULTRASOUND MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS, RESTRAINTS & EXPECTED INFLUENCE OF COVID-19 PANDEMIC
6. BREAST ULTRASOUND MARKET - GLOBAL MARKET ANALYSIS
6.1. BREAST ULTRASOUND - GLOBAL MARKET OVERVIEW
6.2. BREAST ULTRASOUND - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. BREAST ULTRASOUND MARKET - REVENUE AND FORECASTS TO 2028 - PRODUCT
7.1. OVERVIEW
7.2. PRODUCT MARKET FORECASTS AND ANALYSIS
7.3. CONVENTIONAL BREAST ULTRASOUND (CBUS)
7.3.1. Overview
7.3.2. Conventional Breast Ultrasound (CBUS) Market Forecast and Analysis
7.4. AUTOMATED BREAST ULTRASOUND (ABUS)
7.4.1. Overview
7.4.2. Automated Breast Ultrasound (ABUS) Market Forecast and Analysis
8. BREAST ULTRASOUND MARKET - REVENUE AND FORECASTS TO 2028 - END USER
8.1. OVERVIEW
8.2. END USER MARKET FORECASTS AND ANALYSIS
8.3. HOSPITAL
8.3.1. Overview
8.3.2. Hospital Market Forecast and Analysis
8.4. DIAGNOSTICS IMAGING LABORATORIES
8.4.1. Overview
8.4.2. Diagnostics Imaging Laboratories Market Forecast and Analysis
8.5. OTHERS
8.5.1. Overview
8.5.2. Others Market Forecast and Analysis
9. BREAST ULTRASOUND MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Breast Ultrasound Market Overview
9.1.2 North America Breast Ultrasound Market Forecasts and Analysis
9.1.3 North America Breast Ultrasound Market Forecasts and Analysis - By Product
9.1.4 North America Breast Ultrasound Market Forecasts and Analysis - By End User
9.1.5 North America Breast Ultrasound Market Forecasts and Analysis - By Countries
9.1.5.1 United States Breast Ultrasound Market
9.1.5.1.1 United States Breast Ultrasound Market by Product
9.1.5.1.2 United States Breast Ultrasound Market by End User
9.1.5.2 Canada Breast Ultrasound Market
9.1.5.2.1 Canada Breast Ultrasound Market by Product
9.1.5.2.2 Canada Breast Ultrasound Market by End User
9.1.5.3 Mexico Breast Ultrasound Market
9.1.5.3.1 Mexico Breast Ultrasound Market by Product
9.1.5.3.2 Mexico Breast Ultrasound Market by End User
9.2. EUROPE
9.2.1 Europe Breast Ultrasound Market Overview
9.2.2 Europe Breast Ultrasound Market Forecasts and Analysis
9.2.3 Europe Breast Ultrasound Market Forecasts and Analysis - By Product
9.2.4 Europe Breast Ultrasound Market Forecasts and Analysis - By End User
9.2.5 Europe Breast Ultrasound Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Breast Ultrasound Market
9.2.5.1.1 Germany Breast Ultrasound Market by Product
9.2.5.1.2 Germany Breast Ultrasound Market by End User
9.2.5.2 France Breast Ultrasound Market
9.2.5.2.1 France Breast Ultrasound Market by Product
9.2.5.2.2 France Breast Ultrasound Market by End User
9.2.5.3 Italy Breast Ultrasound Market
9.2.5.3.1 Italy Breast Ultrasound Market by Product
9.2.5.3.2 Italy Breast Ultrasound Market by End User
9.2.5.4 Spain Breast Ultrasound Market
9.2.5.4.1 Spain Breast Ultrasound Market by Product
9.2.5.4.2 Spain Breast Ultrasound Market by End User
9.2.5.5 United Kingdom Breast Ultrasound Market
9.2.5.5.1 United Kingdom Breast Ultrasound Market by Product
9.2.5.5.2 United Kingdom Breast Ultrasound Market by End User
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Breast Ultrasound Market Overview
9.3.2 Asia-Pacific Breast Ultrasound Market Forecasts and Analysis
9.3.3 Asia-Pacific Breast Ultrasound Market Forecasts and Analysis - By Product
9.3.4 Asia-Pacific Breast Ultrasound Market Forecasts and Analysis - By End User
9.3.5 Asia-Pacific Breast Ultrasound Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Breast Ultrasound Market
9.3.5.1.1 Australia Breast Ultrasound Market by Product
9.3.5.1.2 Australia Breast Ultrasound Market by End User
9.3.5.2 China Breast Ultrasound Market
9.3.5.2.1 China Breast Ultrasound Market by Product
9.3.5.2.2 China Breast Ultrasound Market by End User
9.3.5.3 India Breast Ultrasound Market
9.3.5.3.1 India Breast Ultrasound Market by Product
9.3.5.3.2 India Breast Ultrasound Market by End User
9.3.5.4 Japan Breast Ultrasound Market
9.3.5.4.1 Japan Breast Ultrasound Market by Product
9.3.5.4.2 Japan Breast Ultrasound Market by End User
9.3.5.5 South Korea Breast Ultrasound Market
9.3.5.5.1 South Korea Breast Ultrasound Market by Product
9.3.5.5.2 South Korea Breast Ultrasound Market by End User
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Breast Ultrasound Market Overview
9.4.2 Middle East and Africa Breast Ultrasound Market Forecasts and Analysis
9.4.3 Middle East and Africa Breast Ultrasound Market Forecasts and Analysis - By Product
9.4.4 Middle East and Africa Breast Ultrasound Market Forecasts and Analysis - By End User
9.4.5 Middle East and Africa Breast Ultrasound Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Breast Ultrasound Market
9.4.5.1.1 South Africa Breast Ultrasound Market by Product
9.4.5.1.2 South Africa Breast Ultrasound Market by End User
9.4.5.2 Saudi Arabia Breast Ultrasound Market
9.4.5.2.1 Saudi Arabia Breast Ultrasound Market by Product
9.4.5.2.2 Saudi Arabia Breast Ultrasound Market by End User
9.4.5.3 U.A.E Breast Ultrasound Market
9.4.5.3.1 U.A.E Breast Ultrasound Market by Product
9.4.5.3.2 U.A.E Breast Ultrasound Market by End User
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Breast Ultrasound Market Overview
9.5.2 South and Central America Breast Ultrasound Market Forecasts and Analysis
9.5.3 South and Central America Breast Ultrasound Market Forecasts and Analysis - By Product
9.5.4 South and Central America Breast Ultrasound Market Forecasts and Analysis - By End User
9.5.5 South and Central America Breast Ultrasound Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Breast Ultrasound Market
9.5.5.1.1 Brazil Breast Ultrasound Market by Product
9.5.5.1.2 Brazil Breast Ultrasound Market by End User
9.5.5.2 Argentina Breast Ultrasound Market
9.5.5.2.1 Argentina Breast Ultrasound Market by Product
9.5.5.2.2 Argentina Breast Ultrasound Market by End User
10. INDUSTRY LANDSCAPE
10.1. MERGERS AND ACQUISITIONS
10.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3. NEW PRODUCT LAUNCHES
10.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11. BREAST ULTRASOUND MARKET, KEY COMPANY PROFILES
11.1. GENERAL ELECTRIC COMPANY
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Products and Services
11.1.4. Financial Overview
11.1.5. SWOT Analysis
11.1.6. Key Developments
11.2. HITACHI, LTD.
11.2.1. Key Facts
11.2.2. Business Description
11.2.3. Products and Services
11.2.4. Financial Overview
11.2.5. SWOT Analysis
11.2.6. Key Developments
11.3. KONINKLIJKE PHILIPS N.V.
11.3.1. Key Facts
11.3.2. Business Description
11.3.3. Products and Services
11.3.4. Financial Overview
11.3.5. SWOT Analysis
11.3.6. Key Developments
11.4. SIEMENS HEALTHINEERS AG
11.4.1. Key Facts
11.4.2. Business Description
11.4.3. Products and Services
11.4.4. Financial Overview
11.4.5. SWOT Analysis
11.4.6. Key Developments
11.5. TELEMED MEDICAL SYSTEMS
11.5.1. Key Facts
11.5.2. Business Description
11.5.3. Products and Services
11.5.4. Financial Overview
11.5.5. SWOT Analysis
11.5.6. Key Developments
11.6. FUKUDA DENSHI UK
11.6.1. Key Facts
11.6.2. Business Description
11.6.3. Products and Services
11.6.4. Financial Overview
11.6.5. SWOT Analysis
11.6.6. Key Developments
11.7. CANON MEDICAL SYSTEMS CORPORATION
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Products and Services
11.7.4. Financial Overview
11.7.5. SWOT Analysis
11.7.6. Key Developments
11.8. HOLOGIC, INC.
11.8.1. Key Facts
11.8.2. Business Description
11.8.3. Products and Services
11.8.4. Financial Overview
11.8.5. SWOT Analysis
11.8.6. Key Developments
11.9. SONOCINé
11.9.1. Key Facts
11.9.2. Business Description
11.9.3. Products and Services
11.9.4. Financial Overview
11.9.5. SWOT Analysis
11.9.6. Key Developments
11.10. NOVA MEDICAL IMAGING TECHNOLOGY CO.LTD.
11.10.1. Key Facts
11.10.2. Business Description
11.10.3. Products and Services
11.10.4. Financial Overview
11.10.5. SWOT Analysis
11.10.6. Key Developments
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
1. General Electric Company2. Hitachi, Ltd.3. Koninklijke Philips N.V.4. Siemens Healthineers AG5. TELEMED Medical Systems6. Fukuda Denshi UK7. Canon Medical Systems Corporation8. Hologic, Inc.9. SonoCiné10. NOVA MEDICAL IMAGING TECHNOLOGY CO.LTD.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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