The government is investing more money in research and development of therapies and services, enhancing the healthcare system, and promoting early diagnosis, which is leading to an increase in the prevalence of breast cancer and a burgeoning Breast Lesion Localization Market.
The most prevalent malignancy, breast cancer, is becoming more and more prevalent, and its numerous diagnosis options, including early detection and screening, are promoting the expansion of the breast lesion localization market. The early detection, screening, and treatment of breast cancer based on that diagnosis have significantly increased the breast lesion localization market. Breast cancer is the second-leading cause of cancer-related deaths among women globally.
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The Breast Lesion Localization Market is anticipated to grow at a 4.1% CAGR through 2032, from a market size of US$ 256 million in 2022 to US$ 382 million by 2032, according to the FMI report.
Digital monitoring, integrated healthcare platforms, and artificial intelligence are examples of modern technology that has contributed in the growth and development of the healthcare and diagnosis industries. Government measures that also fund various sorts of diagnostic, therapeutic, and screening methods are driving increasing demand for breast lesion localization. These programmes help doctors and patients understand the state of the patient’s condition.
The high price range of current systems, newer, less expensive system alternatives, poorer awareness, and incompetent healthcare workers who need training and upskilling are the main factors limiting the market for Breast lesion localisation. Lack of qualified oncologists and ambiguous FDA permissions, such as nuclear regulatory clearance, limit the ability to localise breast lesions.
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
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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
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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