Detailed analysis of breast lesion localization method market

Breast lesion localization is used to find both malignant and benign cancers. It is utilized in the marketing of unappealing breast lesions before surgery. Radiation, wire, radar, and electromagnetic approaches have been used to build various breast lesion localization devices. Breast lesion localization techniques are performed to identify anomalies such as a lump or tumor in the breasts.

The market for breast lesion localization method in 2021 was USD 966.56 million, and by 2030 it will be worth USD 3038 million, growing at a 13.57% CAGR during the forecast period.

The market’s expansion is due to a sedentary lifestyle, an increase in breast cancer instances, rising pill usage, and an increase in the frequency of breast disease or breast cysts. Additionally, the market is growing due to increasing consumer desire for better healthcare facilities, favorable government reimbursement policies, and expanding public awareness of the benefits of early detection and treatment of breast cancer.

Market Dynamics

Drivers

The market is expanding due to several other causes, including the rising incidence of breast cancer and breast cancer operations, improvements in localizing breast lesions due to technology, and greater public awareness of early identification of breast cancer.

With improvements in the surgical and imaging tools used to detect and treat breast injuries or breast cancer, the localization of breast lesions has become a frequent practice. The market will be driven by the rising incidence of breast cancer globally. By 2040, there are projected to be around 3,025,471 additional breast cancer cases, according to the GLOBOCAN 2020 report. The expected increase in the number of persons diagnosed with breast cancer increases demand for breast lesion localization techniques, moving the market forward.

Restraints

The primary factor hampering market growth is the lack of skilled oncologists. The development of the global market for breast lesion localization methods will be impacted by the FDA’s strict criteria for medical device approval.

Opportunity 

There are opportunities for market participants due to aggressive government investment in developing and modernizing healthcare infrastructure. Additionally, the market has favorable growth prospects due to ongoing technological developments and increased public awareness of breast cancer detection.

Market Segmentation

By Type

The wire localization segment held a maximum market share of 32% in 2021. Radiologists and surgeons can easily and affordably employ wire localization. In addition to processing, wire localization services offer a wide range of guided wire connections to radiology imaging equipment that is simple to make. All of these wires stimulate the rise of the wire localization segment. Additionally, the government runs breast cancer awareness initiatives to increase public awareness of breast cancer.

By Usage

The breast biopsy segment was the largest market contributor, with a share of nearly 62%, and will expand at a 5% CAGR during the forecast period. The largest share of this segment is due to the rising awareness of early detection of breast cancer with the help of biopsy.

By End-User

The hospital segment ruled the entire market generating USD 596.2 million in revenue. This is due to the rising adoption of improved breast lesion localization operations, the increasing rate of breast cancer, and the presence of skilled specialists in hospitals.

Regional Analysis 

North America was the largest regional market, with 35% of the revenue share in 2021. It is due to the presence of well-established government programs for cancer screening. North America has the largest population suffering from breast cancer, so the government is investing heavily in medical equipment and Breast Lesion Localization Devices. These elements are causing the Breast Lesion Localization Market in North American nations to expand.

Furthermore, Europe will expand rapidly at a 9% CAGR during the forecast period. Breast cancer patients have become more prevalent in European nations due to rising breast cancer prevalence and the use of cutting-edge localization techniques for the disease’s treatment.

Key Players 

• Sirius Medical BV.
• Mermaid Medical A/S
• Argon Medical Devices
• Becton, Dickinson, and Company
• IZI Medical Products
• R. Bard,
• Tsunami Medical
• Molli Surgical
• CP Medical
• Endomagnetics
• Laurane Medical
• SOMATEX Medical Technologies GmbH
• Cianna Medical
• BPB Medica
• Intra-Medical Imaging
• Surgiceye GmbH.
• Cook Medical
• Ranfac Corporation
• Hologic
• Leica Biosystems
• Health Beacons
• Elucent Medical
• Sirius medical

The market for breast lesion localization method in 2021 was USD 966.56 million, and by 2030 it will be worth USD 3038 million, growing at a 13.57% CAGR during the forecast period. Global demand for high-quality healthcare services, an increase in the prevalence of breast disorders such as breast cancer and cysts, and the development of cutting-edge surgical tools and equipment are major drivers boosting market revenue growth.

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