Market Trends of Breast Lesion Localization Methods Industry
This section covers the major market trends shaping the Breast Lesion Localization Methods Market according to our research experts:
Wire Localization Segment Expected to Hold a Significant Market Share
The wire localization segment is expected to witness significant growth in the breast lesion localization methods market over the forecast period owing to factors such as the rising prevalence of breast cancer among the population, growing technologically advanced products, and rising product launches.
Additionally, the advantages offered by the wire localization method, such as being less expensive, more accurate, and more effective than other breast lesion localization techniques, are also expected to increase its adoption during breast cancer treatment. This factor is also expected to impact the growth of the segment positively.
The wire localization method is the most widely used procedure for locating lumps or abnormalities in the breast. This procedure involves using a fine wire to determine the lump's or abnormality's exact location. It is also known as the fine-wire or needle localization method. As per an article published in the Journal of Personalized Medicine in February 2021, it has been observed that wire localization procedures can be performed under different kinds of image guidance (mammographic, sonographic, and magnetic resonance imaging). This procedure is the most common technique for non-palpable breast lesions, with clean margins reported between 70.8% and 87.4%. Such research is expected to increase its adoption for treating breast cancer among patients, thereby boosting segment growth.
The growing burden of breast cancer, an increasing number of breast surgeries, and the wide adoption of the wire localization method in diagnostic and treatment procedures are major growth factors for the wire localization segment. According to an article published in the Breast Cancer Research and Treatment in September 2022, in women aged 60 years and above, the prevalence of breast cancer in Germany was 6.8% in women above 175 cm in height and 12.2% in women with a height of 171-175 cm. The high burden of breast cancer cases increases the demand for early detection and effective treatment, which is further anticipated to fuel the segment's growth.
Furthermore, the companies' rising focus on adopting key strategies to enter the market contributes to market growth. For instance, in January 2021, Hologic, Inc. acquired Somatex Medical Technologies for USD 64 million. This acquisition assists the company in providing a broad suite of innovative breast health solutions and expanding its breast marker portfolio with biopsy site markers and localization technologies. Furthermore, with this acquisition, the company intends to boost its sales presence in Europe by growing its direct channel in Germany and its regional and global distributor partner network.
Thus, the studied segment is anticipated to grow over the forecast period due to the aforementioned factors, such as the high prevalence of breast cancer among women and the increasing adoption of wire localization methods.
North America Expected to Dominate the Market
North America held a significant share of the breast lesion localization methods market in the past few years and is expected to show a similar trend over the forecast period. This is primarily due to the high burden of breast cancer cases coupled with robust healthcare infrastructure and increasing awareness about breast cancer.
In North America, the United States is expected to hold a significant share during the forecast period in the market studied due to the high prevalence and incidence of breast cancer, robust healthcare infrastructure, and better reimbursement scenarios. The 2022 statistics published by BCRF expected about 287,850 new cases of breast cancer to be diagnosed in women in the United States in 2022. As per the same source, in the United States, the average risk of women developing breast cancer at some point in their lives is 13%. In recent years, the incidence rate of breast cancer has increased by 0.5% per year in the United States. Additionally, per 2022 statistics published by the Canadian Cancer Society, about 28,600 Canadian women are expected to be diagnosed with breast cancer in 2022. Thus, the anticipated increase in breast cancer cases fuels the demand for diagnostics and surgical procedures for treating breast cancer and drives the growth in the breast lesion localization methods market over the years.
Furthermore, the rising product approvals in the region increase the availability of localization devices in the market, which is anticipated to boost market growth over the forecast period. For instance, in July 2022, Merit Medical System enrolled the first patient in a post-market, observational study to demonstrate the benefits of SCOUT, a wireless, radar-guided localization system for marking breast tumors, biopsy sites, and lymph nodes.
Thus, the studied market is expected to grow over the forecast period due to the aforementioned factors, such as the high burden of breast cancer and increasing product approvals in the region.
