As per the study at FMI, the Breast Lesion Localization Market is valued at US$ 256 million in 2022 and is expected to reach US$ 382 million by 2032, growing at a 4.1% CAGR through 2032.
Rising cases of breast cancer led by increased government spending on the research and development of drugs and services to counter the disease are flourishing in the breast lesbian localization market, enhancing the healthcare structure while spreading awareness about early diagnosis.
Growing chronic diseases like breast cancer and multiple diagnosis methods, including early detection and screening, coupled with it being the most prevalent cancer, are helping the breast lesion localization market gain traction. Breast cancer’s early detection and screening, and treatment, according to that diagnosis, have gained a good amount of traction in the breast lesion localization market. Breast cancer is the second leading cancer-related death in women worldwide.
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The use of cutting-edge technology like artificial intelligence, integrated healthcare platforms, and digital monitors has helped the healthcare and diagnosis sector to evolve and get set up in new regions. Government programs also promote multiple kinds of diagnosis, treatment, and screening processes that lastly help doctors and patients understand the real-time situation, pushing the demand for breast lesion localization.
High-cost range of these systems, newer, cheaper system alternatives, lower awareness, and incompetent health workers that need to be trained and upskilled are the major restraints for the Breast lesion localization market. Uncertain FDA approvals, such as nuclear regulatory clearance, along with a shortage of skilled oncologists, are restricting the growth of breast lesion localization.
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.
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.
Key Segments
By Type:
Wire Localization
Radioisotope Localization
Magnetic Localization
Electromagnetic Localization
By Usage:
Breast Biopsy
Breast Conservation (Lumpectomy)
By Region:
United States
United Kingdom
China
Japan
South Korea