Breast Lesion Localization Market is Expected to Reach $0.4 Billion | MarketsandMarkets.
Chicago, Aug. 16, 2023 (GLOBE NEWSWIRE) — In the near future, the breast lesion localization industry is poised to undergo a transformative evolution driven by cutting-edge advancements in medical imaging, artificial intelligence, and minimally invasive procedures. With the integration of high-resolution imaging technologies such as tomosynthesis and contrast-enhanced MRI, the accuracy of detecting and characterizing breast lesions will significantly improve, enabling more precise diagnoses. AI algorithms will play a pivotal role in automating lesion detection, classification, and risk assessment, reducing both subjectivity and time-consuming tasks for radiologists. Moreover, the industry will witness the emergence of innovative localization techniques, including advanced robotic and electromagnetic technologies, offering enhanced precision during biopsy procedures and tumor removal. As a result, patients can anticipate earlier and more accurate diagnoses, personalized treatment plans, and improved overall outcomes in the management of breast lesions.
Breast Lesion Localization market in terms of revenue was estimated to be worth $0.3 Billion in 2023 and is poised to reach $0.4 Billion by 2028, growing at a CAGR of 6.9% from 2023 to 2028 according to a latest report published by MarketsandMarkets™. Various factors responsible for the market growth are the increasing number of breast cancer screening programs, rising incidence of breast cancer, and technological advancements in localization procedures. In addition, the increasing number of breast cancer surgeries and rising awareness on the early detection of breast cancer is supporting the growth of this market.
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Breast Lesion Localization Market Scope:
|Market Revenue in 2023||$0.3 Billion|
|Estimated Value by 2028||$0.4 Billion|
|Growth Rate||Poised to grow at a CAGR of 6.9%|
|Market Size Available for||2021–2028|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By type, usage, end user|
|Geographies Covered||North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa|
|Report Highlights||Updated financial information / product portfolio of players|
|Key Market Opportunities||Increasing adoption of technologically advanced localization procedures|
|Key Market Drivers||Growing rate of the aging population|
Breast Lesion Localization market major players covered in the report, such as:
- Hologic Inc. (US)
- Becton, Dickinson and Company (US)
- Merit Medical Systems (US)
- Leica Biosystems Nussloch GmbH (US)
- Argon Medical Devices (US)
- Laurane Medical LLC (France)
- Endomagnetics Ltd. (UK)
- Intramedical Imaging LLC (US)
- Isoaid (US)
- Surgiceye GmbH (Germany)
- Ranfac Corp. (US)
- Mermaid Medical Group (Denmark)
- Izi Medical (US)
- Matek Medikal (Turkey)
- Tsunami Medical Srl (Italy)
- BPB Medica (Italy)
- Sirius Medical Systems B.V. (Netherlands)
- Molli Surgical Inc. (Canada)
- Sterylab S.R.L. (Italy)
- CP Medical (US)
- MDL SRL (Italy)
- Biomedical Srl (Italy)
- Elucent Medical (US)
- Vigeo srl (Italy)
- Medax Medical Devices (Italy)
- and Among Others
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The study categorizes the breast lesion localization market based on type, application, end user and regional & global level.
Global Breast lesion localization Market, by Type
- Wire Localization
- Radioisotope Localization
- Radioguided Occult Lesion Localization (ROLL)
- Radioactive Seed Localization (RSL)
- Magnetic Localization
- Electromagnetic Localization
- Other Localization Types
Global Breast lesion localization Market, by Usage
- Breast Biopsy
- Breast Conservation (Lumpectomy)
Global Breast lesion localization Market, by End User
- Hospitals & Clinics
- Diagnostic Imaging Centers
- Ambulatory Surgical Centers
Global Breast lesion localization Market, by region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Middle East & Africa
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The key stakeholders in the Breast Lesion Localization market include:
- Breast lesion localization product manufacturers
- Breast biopsy devices manufacturers
- Hospitals, outpatient settings, and oncology centers
- Health insurance payers
- Regulatory authorities
- Cancer surgeons/oncologists
- Research institutes and government organizations
- Venture capitalists and investors
- Market research and consulting firms
- In December 2022, Merit Medical Systems launched Scout Bx. Scout Bx is a wireless, radar-guided localization system used to assist breast surgeons in identifying biopsied tumors for removal.
- In August 2022, Leica Biosystems Nussloch GmbH launched DualCore Dual Stage Core Biopsy System. The Mammotome DualCore biopsy system is the first dual stage core biopsy instrument for needle biopsies.
Frequently Asked Questions (FAQs) of Breast Lesion Localization Market:
What are emerging trends in the breast lesion localization market?
Electromagnetic waves for the localization of breast lesions and radiofrequency identification in breast lesion localization are emerging trends in the breast lesion localization market.
What are the drivers and opportunities for the breast lesion localization market?
Increasing incidence of breast cancer, growing rate of the aging population, increasing awareness on the early detection of breast cancer are the major drivers and emerging economies offer high growth potential and increasing adoption of technologically advanced localization procedures are the major opportunities in the breast lesion localization market.
What are technological advancements in the breast lesion localization market?
Wire guided localization (WL), Carbon making, Radio-guided occult lesion localization (ROLL), Radioactive seed localization (RSL), Magnetic seed localization (MSL) and Radio frequency reflector (RFR) are technological advancements in the breast lesion localization market.
Which is the leading type segment with the largest share in the breast lesion localization market?
Wire localization segment holds the largest share in the breast lesion localization market. The appropriate localization of abnormal tissues, minimum removal of normal tissues, minimum scarring, and the availability of reimbursement are the major factors that are driving the demand for the wire localization segment.
Which segment is estimated to grow at the highest CAGR in breast lesion localization market by end user?
Ambulatory surgical centers segment is estimated to grow at the highest CAGR in breast lesion localization market by end user. Growth in this segment can be attributed to the high requirement for more operating rooms, and challenges in managing inventory and buying new equipment due to limited hospital budgets and stringent policies.
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- To define, describe, and forecast the breast lesion localization market based on type, usage, end user and region
- To provide detailed information on the major factors influencing the market growth (drivers, restraints, opportunities, and challenges)
- To strategically analyze the micro-markets with respect to individual growth trends, prospects, and contributions to the overall market
- To analyze the opportunities in the market for stakeholders and provide details about the competitive landscape for market leaders
- To forecast the size of market segments for key regions, namely, North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa
- To profile key players and comprehensively analyze their product portfolios, market positions, and core competencies
- To track and analyze competitive developments (such as acquisitions, product launches, and agreements) in the breast lesion localization market
- To evaluate the different parameters considered for the selection of breast lesion localization
- To study end user preferences for different breast lesion localization methods as well as study the replacement trends and buying behavior of end users
- To strategically analyze the economic recession impact on the market under study
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