Breast Lesion Localization Methods Market in terms of revenue was estimated to be worth $244 million in 2021 and is poised to reach $305 million by 2026, growing at a CAGR of 4.6% from 2021 to 2026. The market is primarily driven by the increasing number of breast cancer screening programmes and an improved reimbursement scenario. The localization of breast lesions is a common procedure that has evolved as a surgical, imaging, and biomedical technology. The wire-guided localization method was introduced years ago and was the first technique introduced to help localise non-palpable image-guided breast lesions.
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Key Market Player
Key Market Players breast lesion localization market are Hologic, Inc. (US), Becton, Dickinson and Company (US), Merit Medical Systems (US), Leica Biosystems Nussloch GmbH (US), Argon Medical Devices (US), Laurane Medical LLC (France), Endomagnetics Ltd. (UK), Intramedical Imaging, LLC (US), Isoaid (US), Surgiceye GmbH (Germany), Ranfac Corp. (US), Mermaid Medical Group (Denmark), Izi Medical Products, LLC (US), Matek Medikal (Turkey), Tsunami Medical Srl (Italy), BPB Medica (Italy), Sirius Medical Systems B.V. (Netherlands), Molli Surgical Inc. (Canada). Other players in the market are Sterylab S.R.L. (Italy), CP Medical (Georgia), MDL SRL (Italy), Biomedical Srl (Italy), Elucent Medical (US), Vigeo srl (Italy), and Medax Medical Devices (Italy).
Hologic is a leading player in the global breast lesion localization methods market. The broad portfolio of breast lesion localization products is a major factor responsible for its large share in this market. The company focuses on both organic and inorganic growth strategies to enhance its footprint in the global market. Additionally, over the last few years, Hologic has strengthened its customer base and expanded its product portfolio through inorganic growth strategies, such as acquisitions and partnerships. With its strong product portfolio and wide geographic presence, Hologic is expected to witness significant growth in the breast lesion localization market during the forecast period.
Becton, Dickinson and Company (BD) is the second leading player in the breast lesion localization market. Through its Medication Delivery Solutions segment, the company offers wire and radio-guided localization devices in the breast surgery market. The company has acquired a product line of localization wires and devices to enhance its presence in this market. The company now focuses upon R&D to introduce newer and technologically sound products in the breast lesion localization market. The company marks footprints in various countries across the globe.
Leica Biosystems Nussloch GmbH is a provider of microscopy, camera, and software solutions for the imaging and analysis of macro, micro, and nanostructures. The company provides breast lesion localization products under the Diagnostics segment. The company’s R&D, manufacturing, sales, distribution, service, and administrative facilities are present in more than 60 countries. The company is a part of a bigger organization of Danaher Corporation. The company also acquired Devicor Medical Products (US), a company that specializes in breast biopsy procedure products. The company operates in the breast lesion localization market through its Devicor Medical Products subsidiary.The company is represented in over 100 countries and has manufacturing facilities in 8 countries, sales & service organizations in 27 countries, and a network of dealers spanning the globe.
Breast Lesion Localization Market Dynamics
Driver: Increasing incidence of breast cancer
Breast cancer is among the most common diseases affecting women in developed and developing countries. According to the American Cancer Society, breast cancer is the second-leading cause of cancer-related deaths in women across the globe. Globally, there has been significant growth in the number of breast cancer cases. This can majorly be attributed to changing lifestyles, the increasing use of oral contraceptives, and the growing number of women undergoing cosmetic surgeries, such as breast enhancement.
Growing rate of the aging population
With age, the risk of developing breast cancer increases. Aging increases multipotent progenitors (a type of adult stem cell at the root of many breast cancers) and decreases the number of myoepithelial cells, which line the breast’s milk-producing luminal cells and serve as tumor suppressors. According to the American Cancer Society, approximately 1 out of 8 invasive breast cancers develop in women less than 45 years. In contrast, approximately 2 out of 3 invasive breast cancers develop in women aged 55 and above.
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North America accounted for the largest share of the breast lesion localization market is 2020
The breast lesion localization market is segmented into four major regions, namely, North America, Europe, the Asia Pacific (APAC), and the Rest of the World (RoW).
North America accounted for the largest share of breast lesion localization market in terms of value during forecast period. APAC market is projected to grow at the highest CAGR due to the reasons such as increasing patient population, rising government spending on breast cancer research, increasing healthcare expenditure and increasing awareness about early detection of breast cancer.
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