The growth of this market is primarily driven by factors such as the rising incidence of breast cancer, an increasing number of breast cancer surgeries, and growing awareness on the early detection of breast cancer.
Wire localization accounted for the largest share in the market in the forecast period.
The wire localization segment accounted for the highest share of the procedures market, by type. The large share of this segment is attributed to its accuracy in abnormal tissue localization, minimal removal of normal tissues, minimal scarring, and availability of reimbursement for breast lesion localization devices. The ease of use of wire localization technology and the familiarity of end users with the technology have resulted in its increased adoption.
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Sentinel lymph node identification expected to show the highest growth rate in the forecast period.
On the basis of usage, the breast lesion localization methods market is segmented into tumor identification and sentinel lymph node identification. The sentinel lymph node identification segment is expected to grow at the fastest rate in the forecast period, Growth in this segment can be attributed to the increase in acceptance of SLNB as a first-line diagnostic approach for breast cancer staging, as it is more sensitive and causes less morbidity than traditional techniques for the early staging of breast cancer.
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.
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The key players operating in the breast lesion localization methods market include Becton, Dickinson and Company (US), Endomagnetics Limited (UK), SOMATEX Medical Technologies GmbH (Germany), Cianna Medical (US), Leica Biosystems (US) and IZI Medical Products (US).
- In 2019, Hologic Inc. (US) launched LOCalizer wire-free guidance system.
- In 2019, Argon Medical Devices (US) acquired Mana-Tech, Ltd. (UK) enabling Argon to distribute its products across UK and Ireland.
- In 2019, IZI Medical Products, LLC acquired Cook’s acquired product portfolio of soft tissue biopsy and breast localization needle assets to enable it to capture newer markets.
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