A medical tool called breast lesion localization is used to find both malignant and benign cancers. Breast lesion localization techniques use radioactive devices and magnetic tracers to inject localization devices into the lesion detection site to pinpoint a non-tangible lesion during surgical excision.
In 2021, the market for breast lesion localization was worth USD 966.56 billion, and by 2030 it will be worth USD 3038 billion, at a 13.57% CAGR during the forecast period.
The increase in breast disorders such as breast discomfort, breast cysts, and breast cancer procedures drives the market for breast lesion localization techniques. Also, rising healthcare awareness of the expansion of cancer screening with associated symptoms is driving market expansion.
Market Dynamics
Drivers
- Many factors, such as the rising prevalence of breast enlargements among women and the increased use of contraceptive pills, contribute to the development of breast lesions. Also, the market is expanding due to the increased occurrence of breast illnesses such as breast cancer and cysts.
- The rising incidence of breast cancer, the expansion of breast cancer surgeries, expanded government and non-government reimbursement schemes, and rising public awareness of breast cancer diagnoses are all factors contributing to the market’s rise.
- Worldwide, there are more incidences of breast cancer, which increases the need for early detection. Breast cancer is the prevalent type of cancer in women, and rising rates will drive market expansion.
Restraints
The exorbitant expenses of cutting-edge gadgets, the strict regulations governing product clearance procedures, and a shortage of oncologists and qualified specialists in many emerging countries are all impeding the global market. Also, the regulatory issues with breast localization and product failures may also restrict market expansion.
Opportunity
There are opportunities for market participants as a result of aggressive government investment in the development and modernization of healthcare infrastructure. Also, the market offers favorable growth opportunities due to technological advancements and increased public awareness of breast cancer detection.
Market Segmentation
By Type
Wire localization held a maximum market share of 32% in 2021. Radiologists and surgeons can easily and affordably employ wire localization. Wire localization services provide a wide range of guided wire connections that are simple to make to radiology imaging equipment. All of these wires drive the rise of the wire localization segment. Also, the government runs breast cancer awareness initiatives to increase public awareness of breast cancer. As a result, these factors propel the Breast Lesion Localization method market during the forecast period.
By Usage
The breast biopsy segment will expand at a 5% CAGR over the forecast period. In 2021, this segment held 62% of the total market shares for breast lesion localization devices. This is due to the growing public knowledge of early breast lesion diagnosis through biopsy.
Regional Overview
In 2021, North America held the highest revenue share at 35%. It is due to the availability of the region’s reimbursement policies and the government’s organized Cancer screening programs. The North American region has the greatest number of people affected by Breast Cancer, and the government is investing heavily in Breast Lesion Localization Devices and medical needs. These elements are boosting the Breast Lesion Localization Market in North American nations.
During the forecast period, the European area will experience rapid growth at 9% CAGR. Breast cancer has become more prominent in European nations owing to rising breast cancer prevalence and the use of cutting-edge localization techniques for the disease’s treatment.
Key Players
- Becton, Dickinson, and Company
- Mermaid Medical A/S
- Argon Medical Devices
- IZI Medical Products
- Sirius Medical BV.
- Tsunami Medical
- Molli Surgical
- Endomagnetics
- C.R. Bard,
- Laurane Medical
- CP Medical
- SOMATEX Medical Technologies GmbH
- Cianna Medical
- BPB Medica
- Cook Medical
- Cianna Medical
- Intra-Medical Imaging
- Leica Biosystems
- Hologic
- Ranfac Corporation
- Health Beacons
- Surgiceye GmbH.
- Elucent Medical
- Sirius medical
In 2021, the market for breast lesion localization was worth USD966.56 billion, and by 2030 it will be worth USD 3038 billion, at a 13.57% CAGR during the forecast period. The increasing introduction of reimbursement policies by the public and private sectors for surgeries, breast cancer detection, and other procedures drives global market expansion. Also, rising government spending on breast cancer research, the rising need for well-established healthcare systems, and the development of improved surgical tools all contribute to the expansion of the global market.
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