Market Size of Breast Lesion Localization Methods Industry
Study Period | 2021 - 2029 |
Base Year For Estimation | 2023 |
CAGR | 11.20 % |
Fastest Growing Market | Asia-Pacific |
Largest Market | North America |
Market Concentration | Medium |
Major Players*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Breast Lesion Localization Methods Market Analysis
The breast lesion localization methods market is expected to register a CAGR of 11.2% during the forecast period.
The COVID-19 pandemic severely impacted the market studied, as footfall in hospitals, clinics, and diagnostics centers decreased significantly due to the pandemic-resultant lockdown and the suspension of non-urgent procedures. As per a research study published in Preventive Medicines in October 2021, global breast cancer screening and participation were impacted by the pandemic. Many nations, such as Canada, the Netherlands, Germany, Italy, the United Kingdom, and Australia, halted their breast screening programs to prevent the contamination and transmission of coronavirus among the population. Thus, the delayed screening and diagnostic procedures impacted the market growth during the pandemic. However, with the released COVID-19 restrictions, reopened oncology care units and hospitals, as well as an increased number of breast cancer surgical procedures and growing awareness programs by the government regarding breast cancer screening and treatment, the studied market is expected to regain its growth over the next 3-4 years.
Other factors, such as the rising prevalence of breast cancer and breast cancer surgeries, technological advancements in breast lesion localization, and increasing awareness and need for early detection of breast cancer among the population, are boosting the market growth.
The localization of breast lesions has emerged as a common procedure with advancements in the surgical and imaging techniques used to identify and treat breast injuries or breast cancer over time. The increasing burden of breast cancer worldwide is expected to drive the market. According to GLOBOCAN 2020 report, about 3,025,471 new breast cancer cases are expected to be diagnosed by 2040. The anticipated increase in the number of people who have breast cancer raises the demand for breast lesion localization procedures, propelling the market growth.
The increasing government initiatives to raise awareness regarding breast cancer among the population are also expected to increase the demand for breast cancer diagnosis and treatment. In October 2021, Wefra Life and Pink Ribbon Germany (a non-profit organization) launched a Breast Cancer Affects Us All campaign to raise awareness about breast cancer and promote breast care applications among the population. Breast Care is a free multilingual app that provides multimedia content in seven different languages that cover all pertinent aspects of early breast cancer detection and prevention.
Furthermore, the rising technological advancements in breast lesion localization methods are creating opportunities for companies, along with increasing the availability of advanced devices for conducting procedures. In May 2021, the United States FDA approved MOLLI Surgical's new wire-free localization technology for breast cancer surgery that allows radiologists to mark lesions rapidly and precisely and helps surgeons locate and remove lesions efficiently. This new platform includes an implantable marker, detection wand, and visualization tablet, which help improve tumor localization.
Therefore, factors such as the increasing burden of breast cancer, rising government initiatives, and approval of products are expected to grow over the forecast period. However, factors such as strict regulatory guidelines and high costs associated with breast lesion localization methods are expected to hinder the market's growth over the forecast period.
Breast Lesion Localization Methods Industry Segmentation
A breast lesion or injury is an abnormal change of the breast tissue that is caused by diseases or injuries. Breast lesion localization methods are used in the detection, diagnosis, and treatment of diseases or injuries associated with breast tissue.
The Breast Lesion Localization Methods Market is Segmented by Localization Method (Wire Localization, Radioisotope Localization, Magnetic Tracers Localization, and Other Localization Methods) and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The report also covers the estimated market sizes and trends for 17 different countries across major regions globally. The report offers the value (in USD million) for the above segments.
By Localization Method | |
Wire Localization | |
Radioisotope Localization | |
Magnetic Tracers Localization | |
Other Localization Methods |
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Breast Lesion Localization Methods Market Size Summary
The breast lesion localization methods market is poised for significant growth, driven by the increasing prevalence of breast cancer and advancements in surgical and imaging technologies. The market experienced a setback during the COVID-19 pandemic due to reduced hospital visits and postponed screenings, but it is expected to recover as healthcare facilities resume normal operations and awareness programs gain traction. The demand for breast lesion localization procedures is anticipated to rise, supported by government initiatives and technological innovations, such as the FDA-approved wire-free localization technology. These advancements are creating opportunities for companies to enhance their product offerings and improve early detection and treatment of breast cancer.
North America is expected to maintain a strong presence in the breast lesion localization methods market, largely due to the high incidence of breast cancer and a well-established healthcare infrastructure. The United States, in particular, is projected to hold a significant market share, bolstered by favorable reimbursement scenarios and a growing number of product approvals. The wire localization method is anticipated to witness substantial growth, attributed to its cost-effectiveness and accuracy compared to other techniques. The market is characterized by a few major players, including Becton, Dickinson and Company, Hologic Inc., and Merit Medical, who are actively expanding their portfolios and enhancing their market presence through strategic acquisitions and product launches.
Breast Lesion Localization Methods Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Increasing Prevalence of Breast Cancer and Breast Cancer Surgeries
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1.2.2 Technological Advancements in Breast Lesion Localization
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1.2.3 Increasing Awareness of Need for Early Detection of Breast Cancer
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1.3 Market Restraints
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1.3.1 High Costs Associated with Breast Lesion Localization Methods
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1.3.2 Stringent Regulatory Requirements
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1.4 Industry Attractiveness - Porter's Five Forces Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Size by Value - USD Million)
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2.1 By Localization Method
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2.1.1 Wire Localization
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2.1.2 Radioisotope Localization
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2.1.3 Magnetic Tracers Localization
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2.1.4 Other Localization Methods
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2.2 By Geography
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2.2.1 North America
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2.2.1.1 United States
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2.2.1.2 Canada
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2.2.1.3 Mexico
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2.2.2 Europe
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2.2.2.1 Germany
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2.2.2.2 United Kingdom
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2.2.2.3 France
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2.2.2.4 Italy
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2.2.2.5 Spain
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2.2.2.6 Rest of Europe
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2.2.3 Asia-Pacific
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2.2.3.1 China
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2.2.3.2 Japan
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2.2.3.3 India
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2.2.3.4 Australia
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2.2.3.5 South Korea
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2.2.3.6 Rest of Asia-Pacific
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2.2.4 Middle East and Africa
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2.2.4.1 GCC
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2.2.4.2 South Africa
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2.2.4.3 Rest of Middle East and Africa
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2.2.5 South America
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2.2.5.1 Brazil
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2.2.5.2 Argentina
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2.2.5.3 Rest of South America
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Breast Lesion Localization Methods Market Size FAQs
What is the current Breast Lesion Localization Methods Market size?
The Breast Lesion Localization Methods Market is projected to register a CAGR of 11.20% during the forecast period (2024-2029)
Who are the key players in Breast Lesion Localization Methods Market?
Becton, Dickinson and Company, Hologic, Inc., Cook Medical, Merit Medical and STERYLAB S.r.l are the major companies operating in the Breast Lesion Localization Methods Market.