The Breast Lesion Localization Market is booming due to a growth in breast cancer incidence brought on by increased government funding on research and development of treatments and services, improving the healthcare system and promoting early detection.
Breast cancer is the most common malignancy, and its increasing prevalence, along with its wide range of diagnosis options, such as early detection and screening, are assisting the breast lesion localization market’s growth. The breast lesion localization market has seen significant growth in the early detection, screening, and treatment of breast cancer based on that diagnosis. The second-leading cause of cancer-related death for women worldwide is breast cancer.
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According to the FMI analysis, the Breast Lesion Localization Market is projected to develop at a 4.1% CAGR through 2032, from a 2022 market value of US$ 256 million to US$ 382 million by 2032.
Modern technology, such as digital monitoring, integrated healthcare platforms, and artificial intelligence, has aided in the development and expansion of the healthcare and diagnosis industries. The demand for breast lesion localisation is pushed by government initiatives that also support various types of diagnostic, therapeutic, and screening procedures. These initiatives enable physicians and patients comprehend the current condition.
The market for Breast lesion localization is largely constrained by the high price range of existing systems, newer, less expensive system alternatives, lower awareness, and inept healthcare staff who require training and upskilling. Breast lesion localisation is being constrained by a lack of qualified oncologists and uncertain FDA clearances, such as nuclear regulatory clearance.
Key Takeaways:
- United States thrives at a CAGR of 3.9% between 2022-2032 and is expected to hold a market revenue of US$ 136 Mn by the end of 2032.
- Increasing breast cancer cases coupled with advanced diagnosis options while upgrading the healthcare system and their integration with latest technology like AI and IOT are fueling the growth in this region.
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- Breast Biopsy segment is the largest segment by the usage type and will hold the biggest portion of the market in the forecast period, thriving at CAGR of 3.5% through 2032. The growth of segments is attributed to easy removal and short time span and lower post-surgery impacts than the lumpectomy.
- The UK, being the highest growing market globally, will hold US$ 18.2 Mn by the end of 2032 as it thrives on a promising CAGR of 4.4% between 2022-2032
Competitive Landscape:
Some of the breast lesion localization market competitors listed in the FMI’s study on Breast lesion localization market are Hologic Inc, Becton, Dickinson and Company, Merit Medical System, Leica Biosystems, Nussloch GmbH and Argon Medical Devices.
Recent Developments:
- Hologic Inc has introduced LOCalizer, the wire-free breast lesion system that is designed to mark and guide non-palpable breast lesions using a miniature. This innovative technology pushes the market and increases the demand for breast lesion localization processes.
- CMerit Oncology has upgraded its scout radar localization that helps in reducing the OR delays and targets the affected tissue and points it out, easing the surgery processes.
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Key Segments
By Type:
- Wire Localization
- Radioisotope Localization
- Magnetic Localization
- Electromagnetic Localization
By Usage:
- Breast Biopsy
- Breast Conservation (Lumpectomy)
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By Region:
- United States
- United Kingdom
- China
- Japan
- South Korea
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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