The breast lesion localization methods market is expected to register a CAGR of 11.2% during the forecast period of 2022-2027.
The emergence of the COVID-19 pandemic had a severe impact on the diagnostics and treatment procedures other than COVID-19 around the world which also impacted the breast lesion localization methods market as footfall in the hospital, clinics, and diagnostics centers decreased significantly due to pandemic lockdown and adverse impact of COVID-19 on people with comorbidities. For instance, as per the research study published in October 2021, titled “The impact of the Covid-19 pandemic on breast cancer early detection and screening”, during the COVID-19 pandemic, breast cancer screening and participation were affected, globally, and also, as per the same source, in response to COVID-19, many countries halted their breast screening program. For example, in Canada, the Netherlands, Germany, Italy, the United Kingdom, and Australia, national screening programs were completely suspended for a period of 1–6 months. Thus, COVID-19 had its impact on the studied market, although, with the ongoing vaccinations and decreasing cases of COVID-19, the studied market is expected to regain its full potential over the forecast period.
Over the years, the localization of breast lesions has emerged as a common procedure with the advancement in the surgical and imaging systems in the detection and treatment of injuries of breast or breast cancer and the increasing prevalence of breast cancer around the world is the major factor that is expected to drive the growth in the breast lesion localization methods market over the forecast period. For instance, according to the 2020 report of Global Cancer Observatory (Globocan), breast cancer was the most prevalent form of cancer around the world in 2020 and about 2,261,419 new cases of breast cancer were diagnosed in 2020. Further, as per the same source, the incidence of breast cancer cases is expected to increase from 2,261,419 cases in 2020 to 3,025,471 new cases by 2040 and thus, this data shows an increasing burden of the breast cancer around the world that is anticipated to increase the demand of the breast lesion localization procedures which will propel the studied market towards growth.
Factors such as increasing number of breast cancer surgeries, increasing demand of the early detection of breast cancer products with the growing awareness about the breast cancer, and technological advancements in the breast lesion localization methods, are further expected to augment the growth of the studied market over the years. For instance, in February 2019, Hologic Inc., received Conformité Européenne (CE) mark from the European authorities for its LOCalizer wireless radio frequency identification (RFID) breast lesion localization system which is built for accurate and easy marking and targeting of lesions for breast-conserving surgery guidance. However, factors such as strict regulatory guidelines and high cost associated with the breast lesion localization methods cost are expected to hinder the growth of the studies market of breast lesion localization methods over the forecast period of the study.
Key Market Trends
Wire Localization Segment is Expected to Hold a Major Market Share in the Breast Lesion Localization Methods Market
A wire localization method is the most widely used procedure for locating lumps or abnormalities in the breast by using a fine wire to determine the exact location of the lump or abnormality and this procedure is also known as wire localization, fine-wire localization, or needle localization method. According to the research study published in September 2019, titled “The Wire and Beyond: Recent Advances in Breast Imaging Preoperative Needle Localization”, the wire localization method is a standard technique for preoperative breast lesion procedure due to its compatibility with magnetic resonance imaging (MRI)-guided deployment as compared to other available methods which are expected to be the major driving factor for the growth of the wire localization segment in the studied market over the years.
The growing burden of breast cancer and an increasing number of breast surgeries and the wide adoption of wire localization method in diagnostics and treatment procedures is some of the major growth factors for the wire localization segment. For instance, according to the Global Cancer Observatory (Globocan) 2020 report, the incidence of cancer in Asia is expected to increase from 1,026,171 in 2020 to 1,416,478 by 2040 and the same report have projected the rise in breast cancer cases all over the world. Also, as compared to other available breast lesion localization methods, wire localization is inexpensive and more precise and efficient that is why it is preferred my physicians which is also expected to have a positive impact on the growth of the segment. For instance, according to the research study published in December 2019, titled “Clip and wire localization of locally advanced malignant breast masses in patients undergoing neoadjuvant chemotherapy and breast conservation therapy”, the wire localization of tumor was done in 18 out of 20 patients (90%) and in all the 18 patients, accurate localization by wire was observed, which shows higher precision and accuracy of the wire localization method which is expected to augment the growth of the studied segment over the years.
Further, the COVID-19 had its impact on the wire localization segment as during the pandemic period, the diagnostics and treatment procedures for the breast cancer were impacted. For instance, according to the research study published in March 2021, titled “Impact of COVID-19 On Breast Cancer Management: A Radiological Prespective from A Tertiary Centre”, the COVID-19 pandemic had very severe impact on the breast cancer management and delay in last neoadjuvant chemotherapy (NACT) caused progression in the breast cancer. However, overall, the wire localization segment in the breast lesion localization methods market is expected to grow during the forecast period of the study.
North America Is Expected to Dominate the Breast Lesion Localization Methods Market Over the Forecast Period
North America held a major share of the breast lesion localization methods market in the past few years and is expected to show a similar trend over the forecast period, primarily due to the high burden of breast cancer cases coupled with the presence of robust healthcare infrastructure and increasing awareness about the breast cancer. For instance, according to the Globocan 2020 report, Mexico reported 29,929 new cases of breast cancer in 2020, while Canada reported 274,364 new cases of breast cancer in the country in 2020, and further, as per the same source, by 2040, the incidence of breast cancer is expected to increase to 323,432 in Mexico and 400,564 in Canada which shows a significant rise in the burden of breast cancer in the region which is expected to increase the demand of the diagnostics and surgical procedures for the treatment of breast cancer that will drive the growth in the breast lesion localization methods market over the years.
In North America, the United States is expected to hold a major market share during the forecast period in the studied market due to the high prevalence and incidence of breast cancer in the country, presence of robust healthcare infrastructure and better reimbursement scenarios in the country. For instance, according to the January 2022 report of American Cancer Society, in 2022, about 287,850 new cases of invasive breast cancer will be diagnosed in the United States and 43,250 women are expected to die from it in the country, and as per the same source, in the United States, the average risk for women developing a breast cancer sometime in her life is 13% and in the recent years, the incidence rate for breast cancer have increased by 0.5% per year in the United States which is anticipated to the major growth factor for the growth of the breast lesion localization methods market in the country. Furthermore, many states in the country offer reimbursement for localization procedures which further promotes the adoption of breast lesion localization procedures and are expected to compliment the growth of the studied market in the country over the forecast period. For instance, 2021, in New Hampshire revised the reimbursement rates for the breast lesion localization methods and these changes were came into effect in July 1, 2021. Therefore, the breast lesion localization methods market is expected to grow over the forecast period of the study in the country.
The Breast Lesion Localization Methods Market is consolidated competitive and consists of a few major players. In terms of market share, a few of the major players are currently dominating the market. Some of the players in the studied market are Becton, Dickinson and Company, Hologic Inc., Cook Medical, Merit Medical, STERYLABS, among others.
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
1.2 Scope of the Study
4.2 Market Drivers
4.2.1 Increasing Prevalence of Breast Cancer And Expanding Breast Cancer Surgeries
4.2.2 Technological Advancements In Breast Lesion Localization
4.2.3 Increasing Awareness of Early Detection of Breast Cancer
4.3 Market Restraints
4.3.1 High Cost Associated with Breast Lesion Localization Methods
4.3.2 Stringent Regulatory Requirements
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5.1.1 Wire Localization
5.1.2 Radioisotope Localization
5.1.3 Magnetic Tracers Localization
5.1.4 Other Localization Methods
5.2.1 North America
18.104.22.168 United States
22.214.171.124 United Kingdom
126.96.36.199 Rest of Europe
188.8.131.52 South Korea
184.108.40.206 Rest of Asia-Pacific
5.2.4 Middle East and Africa
220.127.116.11 South Africa
18.104.22.168 Rest of Middle East and Africa
5.2.5 South America
22.214.171.124 Rest of South America
6.1.1 Becton, Dickinson and Company
6.1.2 Hologic Inc (SOMATEX Medical Technologies)
6.1.3 Cook Medical
6.1.4 Merit Medical (Cianna Medical)
6.1.5 STERYLAB S.r.l
6.1.6 Danaher Corporation (Leica Biosystems)
6.1.7 Theragenics Corporation (CP Medical, Inc)
6.1.8 Elucent Medical
6.1.9 Tsunami S.r.l
6.1.10 M.D.L. srl
A selection of companies mentioned in this report includes:
- Becton, Dickinson and Company
- Hologic Inc (SOMATEX Medical Technologies)
- Cook Medical
- Merit Medical (Cianna Medical)
- STERYLAB S.r.l
- Danaher Corporation (Leica Biosystems)
- Theragenics Corporation (CP Medical, Inc)
- Elucent Medical
- Tsunami S.r.l
- M.D.L. srl