The global breast lesion localization market size was valued at $480 million in 2022, and is projected to reach $812 million by 2031, registering a CAGR of 7.8% during the forecast period (2024-2031). The increasing response toward the limitations of conventional localization methods identified by surgeons has increased the demand for alternative techniques of breast lesion localization. Technical challenges relating to deletion and same-day wire placement have led to the development of advanced breast lesion regulation systems. The favorable compensation scenario for breast cancer treatment in several developed countries, the increase in the number of breast cancer surgeries, and the promising ongoing research in the field have also contributed to the growth of the market. The market players are rising focus on adopting key strategies which are expected to contribute to the growth of the market during the forecast period. For instance, in January 2021, Hologic, Inc. acquired Somatex Medical Technologies for USD 64 million. This acquisition assists the company in providing a broad suite of innovative breast health solutions and expanding its breast marker portfolio with biopsy site markers and localization technologies. Furthermore, with this acquisition, the company intends to boost its sales presence in Europe by growing its direct channel in Germany and its regional and global distributor partner network.
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The favorable compensation situation for breast cancer treatment in several developed countries, the increase in the number of breast cancer surgeries, and the promising ongoing research in the field have also contributed to the growth of the market. However, regulatory approval procedures are lengthy and complex due to the risks associated with several breast lesion localization devices. This is likely to hamper the market growth. Success in eliminating these risks and producing safer localization devices is thus a major opportunity for players operating in the global market.
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Market Coverage
- Segment Covered-
o By Type
o By Usage
o By End-User
- Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
- Competitive Landscape – Argon Medical Devices, Matek Medical Devices Technology Industry and Trade Inc., Sterylab S.R.L., Medax Medical Devices, and others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected regions and segment
- Who is the leader in the market?
- How are players addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Breast Lesion Localization Market Report Segment
By Type
- Wire
- Radioisotope
- Magnetic
- Electromagnetic Localization
- Others
By Usage
- Breast Biopsy
- Lumpectomy
- Others
By End-User
- Selection Criteria
- Replacement Trend
- Others
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