Breast Lesion Localization Market Opportunity Analysis and Industry Forecast till 2031: By Type (Wire Localization, Radioisotope Localization, Magnetic Localization, Electromagnetic Localization, Others), Usage (Breast Biopsy, Breast Conservation), and Re

Breast Lesion Localization Market Opportunity Analysis and Industry Forecast till 2031: By Type (Wire Localization, Radioisotope Localization, Magnetic Localization, Electromagnetic Localization, Others), Usage (Breast Biopsy, Breast Conservation), and Region

The global breast lesion localization market size was USD 254 million in 2021 and it is anticipated to reach USD 390.6 million in 2031, growing at a rate of 4.4% from 2022-2031.

Breast lesion localization is a medical device used in the detection of malignant and nonmalignant tumors. It is used in the preoperative marketing of nonpalatable breast lesions. There are different types f breast lesion localization devices developed using different techniques: radiations, wires, radar, and electromagnetic. Breast lesion localization methods are used to detect the abnormalities in terms of a lump or tumor in the breasts. There are various types of breast lesion localization methods used across the globe to detect a lump or tumor in the breasts. However, the rapid increase in the number of women opting for preventive screening tests for breast cancer creates a highly conducive environment for the growth of the breast lesion localization market.

Breast Lesion Localization Market Scope and Structure Analysis

Market Trends and Drivers

The major factor boosting the growth of the market is the increasing incidence of breast cancer. Breast cancer is among the most common diseases affecting women in developed and developing countries. As per the American Cancer Society, breast cancer is the second-leading cause of cancer-related deaths in women globally. Worldwide, there has been significant growth in the number of breast cancer cases. This can majorly be attributed to changing lifestyles, the increasing use of oral contraceptives, and the rising number of women undergoing cosmetic surgeries, such as breast enhancement.

Similarly, the growing rate of the aging population is also boosting the growth of the market. With age, the risk of developing breast cancer increases. Aging increases multipotent progenitors and decreases the number of myoepithelial cells, which line the breast’s milk-producing luminal cells and serve as tumor suppressors. As per the American Cancer Society, approximately 1 out of 8 invasive breast cancers develop in women less than 45 years. Conversely, approximately 2 out of 3 invasive breast cancers develop in women aged 55 and above.

Market Restraints & Challenges

One of the primary factors hindering the growth of the market is uncertainty in regulatory approval procedures. Regulatory agencies such as the US FDA require comprehensive clinical data supporting the clinical safety and efficacy of a product under approval. With the presence of stringent regulatory requirements for product approval, players operating in the breast lesion localization methods (specially radioisotope localization) market need to obtain nuclear regulatory clearance from the Nuclear Regulatory Commission to ensure the safe use of radioactive seeds. This approval process is very lengthy and capital-intensive, which makes it difficult for small manufacturers and companies with limited budgets to sustain themselves in this market.

Global Breast Lesion Localization Market Segmentation

The report analyses the breast lesion localization market based on type, usage, and region.

Global Breast Lesion Localization Market by Type

On the basis of type, it is segmented into wire localization, radioisotope localization, magnetic localization, electromagnetic localization, and other localization methods. The radioisotope localization segment is also sub-segmented into radio-guided occult lesion localization and radioactive seed localization. The wire localization segment is likely to dominate the market during the forecast period. The increasing incidence of breast cancer combined with the increasing adoption of expansion strategies by manufacturers of lesion localization products, product launches, and increasing healthcare expenditure are a major factor driving the global breast lesion localization market.

Global Breast Lesion Localization Market by Usage

On the basis of usage, it is segmented into breast biopsy and breast conservation (lumpectomy). The breast biopsy segment is likely to dominate the market during the forecast period. The key factors such as increasing consumption of alcohol and a sedentary lifestyle causing obesity are boosting the growth of the market.

Geographical Analysis of Global Breast Lesion Localization Market

Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. North America accounted for the largest share of the global breast lesion localization market. The key factors such as high awareness about its diagnosis methods coupled with the huge women population suffering from cancer diseases boost the breast lesion localization market growth in the region.

Major Players of the Global Breast Lesion Localization Market

The global breast lesion localization market report includes players 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 Products, LLC (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 (Georgia), MDL SRL (Italy), Biomedical Srl (Italy), Elucent Medical (US), Vigeo srl (Italy), and Medax Medical Devices (Italy).

COVID-19 Analysis

The impact of the COVID-19 pandemic and the lockdown is clearly visible in various industries, comprising the breast lesion localization market. The breast biopsy market observed a loss of business, and the trend continued till December 2020. The breast lesion localization market witnessed a short-term negative growth in 2020. Major regulatory authorities across the world (such as the CDC, the WHO, the MHRA, the TGA, and the EMA) have identified that breast cancer patients are at greater risk of COVID-19 infection than healthy adults. caregivers and hospitals are expected to witness delays in elective surgeries, screening procedures, and the number of breast lesion localization procedures. Still, the market started gradually rising from the late second half of 2020 owing to the increase in the number of biopsies resulting from clearing backlog as well as new cases and fully re-opened healthcare services. In 2021, with the launch of the vaccine against the COVID-19 virus, the patients' options for elective surgeries increased.

Recent Developments

• January 2021, Hologic Inc., has completed the acquisition of Somatex Medical Technologies, which will enable Hologic Inc to strengthen its breast markers portfolio.
• October 2020, Endomagentics Ltd launched a product called Magseed, which is implanted in the affected breast prior to the surgery, and through the use of a probe, can point out to the surgeon where exactly the cancerous tissue is located.
• January 2019, IZI acquired Cook’s product portfolio of soft-tissue biopsy and breast localization needles. This will enable IZI to capture newer markets.
• November 2018, Merit Medical System Inc. has completed acquisition of Cianna Medical Inc. and its breast cancer localization and guidance devices, which adds to Merit, a technology leader in breast tumor localization.

Frequently Asked QuestionsQ. How big is the breast lesion localization market?Ans. The global breast lesion localization market size was USD 254 Million in 2021 and is anticipated to reach USD 390.6 Million in 2031, growing at a rate of 4.4% from 2022 to 2031.Q. What is the breast lesion localization market growth rate?Ans. The growth rate of the breast lesion localization market is 4.4% from 2022 to 2031.Q. Which region holds a major market share for the breast lesion localization market?Ans. North America holds a major market share of the breast lesion localization market in 2021.Q. Which segment accounted for the largest breast lesion localization market share?Ans. By type, the wire localization segment accounted for the largest breast lesion localization market shareQ. Who are the key players in the breast lesion localization market?Ans. The global breast lesion localization market report includes players 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 Products, LLC (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 (Georgia), MDL SRL (Italy), Biomedical Srl (Italy), Elucent Medical (US), Vigeo srl (Italy), and Medax Medical Devices (Italy).Q. What are the factors driving the breast lesion localization market growth?Ans. The major factors driving the growth of the market are the increasing incidences of breast cancer coupled with the growing rate of the aging population.Q. What are the key growth strategies of breast lesion localization market players?Ans. The key growth strategies of breast lesion localization market players are product launch and product approval.Q. Which region will provide more business opportunities for the breast lesion localization market during the forecast period?Ans. The Asia-Pacific region will provide more business opportunities for breast lesion localization market during the forecast period.

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