The report “Breast Lesion Localization Methods Market By Type (Wire, Radioisotope [Radio Occult], Magnetic), Usage (Tumor Identification, Sentinel Lymph Node [Lumpectomy]), End User Preference Survey (Selection Criteria, Replacement Trend) – Global Forecast to 2025”, is expected to grow from 3,974.4 thousands of procedures in 2020 to 5750.9 thousands of procedures by 2025, at a CAGR of 7.5% during the forecast period.
The overall market for breast lesion localization methods market is expected to grow rapidly owing to the increasing number of breast cancer surgeries and increasing awareness on early detection of breast cancer. Furthermore, the demand for improved quality of care and growing awareness among patients about breast cancer screening also contributes to market growth. However, uncertainty in regulatory approval procedures may negatively affect the market.
Opportunity: EMERGING ECONOMIES OFFER HIGH GROWTH POTENTIAL
Governments in emerging countries are also investing heavily in the development and modernization of healthcare infrastructure. For instance, healthcare expenditure in China increased in 2016, as fiscal spending on healthcare grew by 10% year-on-year. Moreover, the incidence of breast cancer in these developing nations is also increasing exponentially. Given the opportunities presented by these emerging markets, key players are focusing on expanding their presence in the Asia Pacific region.
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Challenge: SHORTAGE OF ONCOLOGISTS
Over the years, the incidence of breast cancer has increased significantly, and is expected to increase further in the coming years. However, there has not been a subsequent growth in the number of oncologists, and this situation is more pronounced in developing countries. This dearth of trained professionals is expected to hamper the growth of the breast lesion localization methods market during the forecast period.
The Asia Pacific region holds the largest share in the market during the forecast period of 2020–2025.
Geographically, the breast lesion localization methods market is segmented into North America, Europe, the Asia Pacific and Rest of the World. The large share of the Asia Pacific region is due to improving healthcare infrastructure, high government spending on breast cancer research, and rising awareness about the importance of the early detection of breast cancer in several APAC countries. Moreover, increasing focus of prominent players on emerging Asian countries will further support the growth of the market in this region. Breast Lesion Localization Methods Market
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Top industry players in the global breast lesion localization methods market
The top market players in the global breast lesion localization methods market include Hologic Inc. (US), Laurane Medical (US), Health Beacons, Inc (Australia), Mermaid Medical A/S (Denmark), IZI Medical Products (US), Matek Medical Inc. (Turkey), Tsunami Medical Inc. (Italy), BPB Medica (Italy), Sirius Medical BV (Netherlands), Molli Surgical Inc. (Canada), Argon Medical Devices (US), B.D. Company (US), Cianna Medical (US), Endomagnetics Ltd. (UK), Health Beacons, Inc. (Australia), Intra-Medical Imaging LLC (US), IsoAid, LLC (US), Leica Biosystems (Germany), SOMATEX Medical Technologies GmbH (Germany), SurgicEye GmbH (Germany) and Ranfac Corporation (US).