The global breast lesion localization methods market size is expected to reach USD 1.58 billion by 2025, according to a new report by Grand View Research, Inc. It is projected to witness a CAGR of 13.3% during the forecast period. Growing number of government and non-government reimbursement policies for the breast cancer diagnostics, biopsy, examination, and other medical procedures are estimated to increase the adoption of breast lesion localization methods. Moreover, high demand for better healthcare infrastructure and facilities due to rising prevalence of the target disease among women is expected to fuel the market growth.
It is more prevalent in women above the age of 50 years. Although it is majorly occurring in women, the male population has one in eight chances of being diagnosed with the target cancer. According to the WHO, almost 6.5% of all cancer-related deaths worldwide are caused by breast cancer. Increasing awareness level about breast cancer screening is expected to further enhance the market growth. For instance, in U.S., the Centre of Disease Control and Prevention’s National Breast and Cervical Cancer Early Detection Program (NBCCEDP) provides free access to timely breast and cervical diagnostic and screening services to the needy patients.
These screening programs include high-quality mammogram diagnosis, which involves breast X-rays, biopsies (if required), and an analytical judgment. Key companies, such as C.R. Bard, Inc.; Cianna Medical, Inc.; and Cook Medical, Inc. focus on business expansion in developing regions in an attempt to increase their market share. They are also adopting several other strategies, such as M&A and product launch. For instance, in October 2018, Cianna Medical, Inc. signed a merger agreement with Merit Medical Systems, Inc., in which the latter will provide clinical support for R&D to Cianna Medical, Inc. for commercializing new technologies in the market.
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Further key findings from the study suggest:
The global breast lesion localization methods market was valued at USD 580.7 million in 2017 and is expected to grow lucratively over the forecast period
Wire-guided localization segment held the largest market share of 35.9% in 2017 owing to the presence of wide range of products and high adoption of this technique among end-users
Radioisotope localization is expected to witness significant growth over the forecast period as it is an effective, safe, and widely used procedure for preoperative localization of non-palpable, suspicious breast lesions
North America led the market with revenue of USD 209.96 million in 2017. The presence of key manufacturers in U.S., established healthcare infrastructure, and high adoption of localization devices are the factors responsible for its largest share
Asia Pacific is expected to witness the fastest CAGR of 15.3% during the forecast period due to increasing demand for breast conserving surgery.
Grand View Research has segmented the global breast lesion localization methods market on the basis of type and region:
Breast Lesion Localization Methods Type Outlook (Revenue, USD Million, 2014 - 2025)
Radio Guided Occult-Lesion Localization (ROLL)
Radioactive-Seed Localization (RSL)
Breast Lesion Localization Methods Regional Outlook (Revenue, USD Million, 2014 - 2025)
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