The breast lesion localization device market in Germany is anticipated to grow at a compound annual growth rate (CAGR) of 2.4% from 2024 to 2034. It now has the largest market share in Europe, and this trend is anticipated to persist during the projection period. Because of these issues, there is a growing demand for cutting-edge medical technology like breast lesion localization devices, which make it easier to accurately detect and locate breast lesions.
NEWARK, DE / ACCESSWIRE / August 20, 2024 / The global breast lesion localization device market is projected to grow significantly, with sales estimated to reach USD 593.5 million by 2034, up from an anticipated USD 360.9 million in 2024. This growth, at a CAGR of 5.1% between 2024 and 2034, reflects the increasing importance of early detection and precise localization of breast lesions in the effective treatment of breast cancer. The market generated USD 343.4 million in revenue in 2023 and is expected to see a year-on-year growth of 5.2% in 2024.
Wire localization is set to maintain its dominance in the breast lesion localization device market, commanding more than 40.9% of the market share in terms of value. This method remains the most widely used due to its proven efficiency, affordability, simplicity, reliability, and widespread clinical acceptance. Despite the development of newer localization techniques, the market's preference for wire localization is expected to continue, given its established effectiveness and broad applicability.
The increasing global incidence of breast cancer is one of the primary factors driving the market. As early detection and accurate localization of breast lesions become increasingly crucial for successful treatment, the demand for advanced localization devices continues to rise.
Rising Demand for Minimally Invasive Endodontic Microsurgery Fuels Growth in Breast Lesion Localization Devices Market
The market for breast lesion localization devices is poised for significant growth, driven by the increasing demand for minimally invasive endodontic microsurgery. This surge is largely due to advancements in early detection of breast cancers, with non-palpable lesions being more frequently identified through enhanced screening programs. These small, deep-seated lesions present a considerable challenge for surgical management, heightening the need for advanced breast lesion localization devices.
Rapid technological advancements are propelling the market forward, gradually replacing traditional methods of lesion localization with more modern, precise techniques. These cutting-edge technologies include Radioactive Seed Localization (RSL), Magnetic Seed Localization (MSL), and Radiofrequency Identification (RFID) tags. These innovations offer superior imaging quality and precise marking for lesion removal, ensuring adequate margins and improving overall patient outcomes.
Key Takeaways from the Breast Lesion Localization Device Market
North America (led by the USA) is expected to experience a growth rate of 2.0% CAGR during the forecast period, maintaining the largest market share in the region.
Germany is projected to see a CAGR of 2.4% in the breast lesion localization device market from 2024 to 2034.
China is anticipated to dominate the Asian market with a significant 7.6% CAGR, driven by high breast cancer incidence, which substantially influences the market growth.
Wire localization is forecasted to hold a dominant position in the breast lesion localization devices market, commanding over 40.9% of the market share by value.
Discover the Full Details in Our Report! https://www.futuremarketinsights.com/reports/breast-lesion-localization-device-market
What are the Key Opportunities for Breast Lesion Localization Devices Manufacturers?
Breast lesion localization devices are increasingly used in the detection and mapping of breast cancer. However, only a few players are actively engaged in the manufacturing of breast lesion localization devices to date, implying that there are significant opportunities for other small and large manufacturers to enter the market, as demand for the devices is rapidly increasing.
Breast cancer is the most common cancer in emerging nations and its incidence is surging rapidly among women in metropolitan regions. The importance of early detection in the management and treatment of this condition cannot be overstated. As a result, breast cancer awareness activities are organized to raise awareness and eliminate the stigma associated with breast cancer symptoms and treatment.
For instance, the International Federation of Medical Students' Associations has launched Breast Cancer Awareness Programmes (BCAP) to raise awareness among men and women about cancers of sexual organs.
The presence of a larger patient pool with cancer, along with increasing per capita income will provide lucrative opportunities for market penetration and growth within worldwide economies.
What are the Factors Restraining Demand for Breast Lesion Localization Devices?
Factors restraining the demand for breast lesion localization devices include the high cost of devices and a dearth of trained professionals who can carry out critical and advanced processes for the detection of lesions.
Breast cancer surgeries such as breast lumpectomy, breast biopsy, and other procedures are high-cost operations. Due to the high cost of the devices, the cost of their high services, and devices inaccessible for most patients in most countries which is a major restraining factor for the market.
Breast lesion localization devices are the most advanced method of lesion detection. This method requires expertise on the part of the staff
Competitive Landscape
Businesses utilize partnerships and collaboration agreements to expand their product offerings and strengthen their market position. These partnerships could be in the form of joint ventures, distribution agreements, or licensing contracts to reach new markets or take advantage of complementary technologies.
Companies concentrate on regional growth to gain access to the emerging markets and meet the growing demand for breast healthcare products. Establishing distribution networks, innovation hubs, and regional offices aids businesses in providing better local healthcare and patient care in strategic markets.
Key Players of the Breast Lesion Localization Device Industry
Merit Medical Systems
BD
ARGON MEDICAL
Hologic, Inc.
Endomagnetics Ltd.
MatekMedikal
Sirius Medical Systems B.V.
Izi Medical Products, LLC
Molli Surgical Inc
Elucent Medical
Intramedical Imaging
Isoaid
Vigeosrl
Medax Medical Devices
MDL SRL
BPB Medica
Sterylab S.R.L.
Tsunami Medical Srl
Laurane® Medical LLC
Biomedical Srl
Recent Developments in the Breast Lesion Localization Device Market
In March 2022, Hologic, Inc. opened its new Innovation Center in Aix-en-Provence, France. This facility will serve as a commercial office and a hub for advancing Hologic's ultrasound, interventional, and surgical solutions across the breast healthcare spectrum.
Also in March 2022, Sirius Medical, known for its innovations in tumor localization technology, announced RMS Medical Devices as its commercial partner in Belgium and Luxembourg for the Sirius Pintuition system.
In 2023, Merit Medical Systems introduced a new product in the breast lesion localization device market, aimed at improving precision and patient outcomes in breast cancer surgery. Their cutting-edge technologies are making significant impacts in both established and emerging markets.
Key Segments of Breast Lesion Localization Device Industry
By Technique:
In terms of technique, the industry is divided into wire localization, non-wire localization, radar reflector localization, magnetic seed localization, RFID tag localization and radioisotope localization.
By Application:
In terms of application, the industry is segregated into breast biopsy and breast lumpectomy.
By End User:
The industry is classified by end user as hospitals, ambulatory surgical centres and specialty clinics.
By Region:
Key countries of North America, Latin America, East Asia, South Asia, Western Europe, Eastern Europe and Middle East and Africa (MEA) have been covered in the report.
Authored by:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
Have a Look at the Related Reports of the Healthcare Domain:
Breast lesion localization" refers to the process of identifying and marking the exact location of a lesion (an abnormal area of tissue) within the breast. This is typically done to guide a biopsy or surgical procedure.
According to estimates, the breast pump market will be valued at USD 1,827.00 million in 2023. The market is expected to reach USD 2,672.30 million by 2033, developing at a CAGR of 3.90%.
The demand for breast imaging is rapidly increasing, driven by advancements in early cancer detection, improved patient outcomes, and growing awareness of the importance of regular screening.
The rapid advancement in breast cancer screening tests is driving significant growth in early detection methods, improving patient outcomes and enhancing the overall effectiveness of cancer treatment strategies.
The overall demand for breast cancer drugs is projected to grow at a CAGR of 1.1% between 2023 and 2033, totaling around USD 12,012.1 million by 2033.
The increasing demand for breast fillers reflects a growing preference for minimally invasive cosmetic enhancements, driven by advancements in aesthetic medicine and a desire for natural-looking results.
The global Pigmented Lesion Treatment Market size is poised to attain a valuation of USD 7,614.7 million by 2033. Pigmented lesion treatment providers expect the market to expand at a CAGR of 7.8% through 2033, with a current valuation of USD 3,591.3 million in 2023.
The blood collection devices market is expected to register a CAGR of 6.5% during the forecast period. In 2023, the market valuation is expected to be at USD 7.7 billion. By 2033, the figures are expected to cross USD 14.4 billion.
The blood glucose monitoring devices market size is estimated to be valued at USD 14.2 billion in 2024. The market is estimated to cross a valuation of USD 22.2 billion by 2034.
The global oncology blood testing market size is likely to be valued at USD 3,851.7 Million in 2022 and is expected to reach USD 18,278.2 Million by 2032.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries. Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware - 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube
SOURCE: Future Market Insights, Inc.
View the original press release on accesswire.com
