New York, Aug. 29, 2022 (GLOBE NEWSWIRE) -- Kenneth Research has published a detailed market report on ‘Global Breast Lesion Localization Methods Market’ for the forecast period, i.e. 2022 – 2031, which includes the following factors:
- Market growth over the forecast period
- Detailed regional synopsis
- Market segmentation
- Growth drivers and challenges
- Profiling of key market players
Global Breast Lesion Localization Methods Market Size:
The global breast lesion localization methods market generated the revenue figure of approximately USD 520 million in the year 2021 and is estimated to grow at a CAGR of ~10% over the forecast period, i.e., 2022 – 2031. The growth of the market can majorly be attributed to inactive lifestyle, growing cases of breast cancer, rising consumption of contraceptive pills, and increasing prevalence of breast disease or breast cysts. According to the latest data, an estimate of 277,840 new cases of invasive breast cancer is expected to be diagnosed among women living in the U.S. in 2022. Moreover, rising demand for better healthcare facility, generous reimbursement policies by government and growing awareness about early treatment for breast cancer among people are few other factors anticipated to propel the growth of the market. In addition, the increasing number of breast cancer screening programs is anticipated to drive the market growth.
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Global Breast Lesion Localization Methods Market: Key Takeaways
- The North America region gained a modest portion of the revenue in 2021
- The wire localization type segment to dominate the revenue graph
- Hospitals segment remains prominent in the end users segment
Increasing Prevalence of Breast Cancer across the Globe to Boost Market Growth
Breast lesion localization method is a procedure used for the detection of abnormal changes in the breast tissue, also known as breast lesion, caused due to genetic disorders, disease, or injury. Moreover, breast screening program encourage early diagnosis of breast cancer, which allows effective treatment. Number of cases of diagnosis and deaths of breast cancer, have been increasing throughout the years. According to the World Health Organisation, in 2020, there were 2.3 million women diagnosed with breast cancer and 685 000 deaths globally. As of the end of 2020, there were 7.8 million women alive who were diagnosed with breast cancer in the past five years, making it the world’s most prevalent cancer. Hence, this is expected to fuel the growth of the global breast lesion localization methods market.
In addition to this, development & launch of new screening programs, and the initiatives taken by governments around the world to spread awareness about the treatment options, and organizing free camps are anticipated to be major factors to boost the growth of the global breast lesion localization methods market. Further, rising consumption of alcohol among the global women population, and increasing cases of obesity backed by inactive lifestyle are responsible for the growth of the market over the forecast period. As per the data by the World Bank, as of 2018, alcohol consumption per capita among global female population accounted to 2.6 liters of pure alcohol. Drinking alcohol, having family history of breast cancer, being obese, having postmenopausal hormone therapy, other reasons increase chance of breast cancer largely.
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Global Breast Lesion Localization Methods Market: Regional Overview
The global breast lesion localization methods market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.
High Prevalence of Breast Cancer Drove Market Growth in the North America Region
The market in North America region witnessed a modest growth in the year 2021. The growth of the market can be ascribed to the increasing prevalence of breast cancer, presence of advanced healthcare infrastructure, and better reimbursement policies. It was noted that, in the United States, after lung cancer, breast cancer is the next most common cause of cancer death in women. It is also the leading cause of cancer death among women between 33-55 years. Furthermore, increasing healthcare expenditure over the region, and developed healthcare infrastructure are also anticipated to be significant factors to propel the growth of breast lesion localization methods market in the region. As per the World Bank, healthcare expenditure, considering the total percentage of the GDP in the region, increased from 16.23% in 2018 to 16.32% in 2019.
Rapid Development in Healthcare Infrastructure to Favor Market Growth in the Asia Pacific Region
On the other hand, market in the Asia Pacific region is estimated to witness growth at a significant CAGR during the forecast period. The market growth can be majorly attributed to rapid development in healthcare infrastructure, along with the government’s support services and initiatives to create awareness regarding cancer treatment among the mass. Moreover, rising demand for breast-conserving surgery, and the increasing cases of breast cancer in the region are contributing to the rapid growth of the breast lesion localization methods market. As per the Organization for Economic Co-operation and Development (OECD), nearly 839000 women were diagnosed with breast cancer in the year 2018 in the Asia Pacific region.
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The study further incorporates Y-O-Y growth, demand & supply and forecast future opportunity in:
- North America (U.S., Canada)
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe)
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America)
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific)
- Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).
Global Breast Lesion Localization Methods Market, Segmentation by Type
- Wire Localization
- Radioisotope Localization
- Radioactive Seed Localization
- Radio Occult Lesion Localization
- Magnetic Tracers
- Others
The wire localization segment is anticipated to hold the largest market share in value in the upcoming year by growing at a moderate CAGR during the forecast period. The growth of the segment is driven by successful result in abnormal tissue localization, minimum removal of normal tissues, and reimbursement for breast lesion localization devices. Additionally, the adoption of wire localization is increasing backed by the increasing disposable income per capita among the global population. As per the data by The World Bank, in 2020, disposable income per capita was USD 8784 and it is anticipated to increase notably over the projection period.
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Global Breast Lesion Localization Methods Market, Segmentation by End Users
- Diagnostic Centers
- Hospitals
- Oncology Clinics
- Ambulatory Surgical Centers
The hospitals segment is estimated to hold a substantial market share in the market during the forecast period. The growth of the segment can be accredited to the existence of a huge patient pool in a hospital facility. Furthermore, rising healthcare expenditure per capita worldwide is also estimated to propel the growth of this segment. According to the data by the World Bank, as of 2019, current health expenditure per capita among the global population was USD 1,121.97.
Global breast lesion localization methods market is also segmented based on biopsy techniques.
Global Breast Lesion Localization Methods Market, Segmentation by Biopsy Techniques
- Fine Needle Aspiration Biopsy
- Core Needle Biopsy
- Surgical Biopsy
- Incisional Biopsy
- Excisional Biopsy
- Vacuum-Assisted Breast Biopsy
- Others
Few of the well-known market leaders in the global breast lesion localization methods market that are profiled by Kenneth Research are MOLLI Surgical Inc., ARGON MEDICAL., Merit Medical Systems, CP Medical, STERYLAB S.r.l., Cook Group Incorporated, Becton, Dickinson, and Company (BD), Hologic, Inc., Zimmer Biomet, and PerkinElmer Inc. and others.
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Recent Developments in the Global Breast Lesion Localization Methods Market
- In April 2021, the MOLLI wire-free localization device from MOLLI Surgical Inc., which enables radiologists to identify lesions for excision during breast cancer surgery, received approval from the US Food and Drug Administration.
- In January 2021, the acquisition of SOMATEX Medical Technologies GmbH was announced by Hologic, Inc. The acquisition is anticipated to improve Hologic’s innovative and all-encompassing breast health solutions.
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