Breast Lesion Localization Methods Market: Growing Incidence of Breast Cancer
This study involved four major activities in estimating the current market size for breast lesion localization method. Exhaustive research was conducted to collect information on the market as well as its peer and parent markets. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the number of breast lesion localization procedures and the value market. Thereafter, market breakdown and data triangulation procedures were used to estimate the market size of segments and subsegments.
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Major Market Growth Drivers:
The growth of this market is primarily driven by factors such as the rising incidence of breast cancer, an increasing number of breast cancer surgeries, and growing awareness on the early detection of breast cancer. However, the uncertain regulatory approval process faced by prominent players is hampering the growth of the breast lesion localization methods market.
Revenue Growth Analysis:
[157 Pages Report] The breast lesion localization methods market is expected to grow from 3,974.4 thousands of procedures in 2020 to 5750.9 thousands of procedures by 2025, at a CAGR of 7.5% during the forecast period.
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136 – Tables
33 – Figures
157 – Pages
Wire localization accounted for the largest share in the market in the forecast period.
The wire localization segment accounted for the highest share of the procedures market, by type. The large share of this segment is attributed to its accuracy in abnormal tissue localization, minimal removal of normal tissues, minimal scarring, and availability of reimbursement for breast lesion localization devices. The ease of use of wire localization technology and the familiarity of end users with the technology have resulted in its increased adoption.
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Sentinel lymph node identification expected to show the highest growth rate in the forecast period.
On the basis of usage, the Wire localization market is segmented into tumor identification and sentinel lymph node identification. The sentinel lymph node identification segment is expected to grow at the fastest rate in the forecast period, Growth in this segment can be attributed cancer. to the increase in acceptance of SLNB as a first-line diagnostic approach for breast cancer staging, as it is more sensitive and causes less morbidity than traditional techniques for the early staging of breast
The Asia Pacific region holds the largest share in the market during the forecast period of 2020–2025.
Geographically, the Wire localization market is segmented into North America, Europe, the Asia Pacific and Rest of the World. The large share of the Asia Pacific region is due to improving healthcare infrastructure, high government spending on breast cancer research, and rising awareness about the importance of the early detection of breast cancer in several APAC countries. Moreover, increasing focus of prominent players on emerging Asian countries will further support the growth of the market in this region.
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Key Wire Localization Market Players:
The key players operating in the global breast lesion localization methods market include Becton, Dickinson and Company (US), Endomagnetics Limited (UK), SOMATEX Medical Technologies GmbH (Germany), Cianna Medical (US), Leica Biosystems (US) and IZI Medical Products (US).