Breast Lesion Localization Methods Marketby Type (Wire, Radioisotope (ROLL, RSL), Magnetic, Electromagnetic Localization), Usage (Breast Biopsy, Lumpectomy), End User Preference Survey (Selection Criteria, Replacement Trend) (2022 – 2026) according to a new report by MarketsandMarkets. The breast lesion localization market is expected to reach USD 305 million by 2026 from USD 244 million in 2021, will grow at a CAGR of 4.6% during the forecast period. The market is primarily driven by the increasing number of breast cancer screening programs, and improved reimbursement scenario. The localization of breast lesions is a common procedure that has evolved as a surgical, imaging, and biomedical technology. Wire guided localization method was introduced years ago and was the first technique introduced to help localize non-palpable image-guided breast lesions.
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Breast Lesion Localization market Dynamics
Drivers: 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.
Restraints: Uncertainty in regulatory approval procedures
Regulatory agencies such as the US FDA require comprehensive clinical data supporting the clinical safety and efficacy of a product under approval. With the presence of stringent regulatory requirements for product approval, players operating in the breast lesion localization methods (specially radioisotope localization) market need to obtain nuclear regulatory clearance from the Nuclear Regulatory Commission to ensure the safe use of radioactive seeds. This approval process is very lengthy and capital-intensive, which makes it difficult for small manufacturers and companies with limited budgets to sustain themselves in this market.
Opportunities: Emerging economies offer high growth potential
Developing economies, such as India, China, Brazil, South Korea, Turkey, Russia, and South Africa, offer high growth opportunities for the major players operating in the breast lesion localization market. A large population base—especially in India and China—offers a sustainable market for entire medical and surgical devices. As per GLOBOCAN 2020, the incidence of breast cancer in China is estimated to be 416,000 in 2020; this number is estimated to increase by 446,000 cases by 2025. Likewise, the number of women diagnosed with breast cancer is estimated to reach 272,000 in 2040 from 178,000 in 2020 in India. Breast cancer incidence among women aged more than 65 is expected to increase by ~61% and ~65% in India and China, respectively, by 2025.
Governments in emerging countries are also investing heavily in the development and modernization of healthcare infrastructure. For instance, According to the OECD Data, the healthcare spending of China in 2020 was 810.8 USD/Capita. Likewise, according to Health Expenditure and Financing data, Brazil spent ~9.5% of its GDP on healthcare in 2020. The Ministry of Health in Brazil and several non-governmental organizations have also initiated efforts to improve early diagnosis and to promote breast cancer screening and education in the country.
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North America is expected to account for the largest share of the Breast lesion localization market in 2020
In terms of volume, North America accounted for the largest share of the breast lesion localization market is 2020, followed by Europe. The APAC market is projected to grow at the highest CAGR during the forecast period. Growth in this market can primarily be attributed to the improving healthcare infrastructure, rising government spending on breast cancer research, and increasing awareness about the importance of the early detection of breast cancer in several APAC countries.
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).
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