The global breast lesion localization methods market is expected to reach USD 1.57 billion by 2025, according to a new report by Grand View Research, Inc. The increasing government and non-government reimbursement policies for mammary gland cancer diagnosis, biopsy, pre-surgical examinations, and other treatment options is estimated to increase the adoption of breast lesion localization procedures. For instance, the Alabama Breast and Cervical Cancer Early Detection Program aims to provide breast and cervical oncology diagnostic and screening services to women who meet certain income, age, and insurance coverage eligibility guidelines.
Furthermore, rising prevalence of breast cancer is anticipated to propel the market growth. The disease is highly prevalent amongst women belonging to the age group of 65 years or above. The maximum risk of mammary gland cancer is between the age of 70 and 79. On the other hand, men are also at a risk of breast cancer. In the U.S., median age of men at diagnosis is approximately 68 years.
U.S. breast lesion localization methods, by type, 2014 – 2025 (USD Billion)
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Further key findings from the report suggest:
- Wire localization biopsy dominated the market in 2016 owing to its higher usage by healthcare practitioners, easy availability, and presence of a wide product range
- Magnetic tracer is expected to grow at lucrative CAGR of 14.0% over the forecast period as a result of increasing adoption of MagSNOLL technology over conventional wire localization.
- Radioisotope seed localization is considered the most preferred method amongst all radioisotope localization methods due to its benefits such as ease of localization few weeks before the excision surgery and lesser need for reoperation.
- North America is estimated to be the largest regional market. It dominated the market in terms of revenue with USD 185.04 million in 2016 owing to the presence of well-established healthcare services and increasing number of oncology surgeries being performed.
- In addition, early adoption of devices and shift from traditional to technologically advanced products by healthcare providers are some of the factors anticipated to increase the demand for localization devices in this region
- Asia Pacific is expected to be the fastest growing region over the next decade with lucrative CAGR from 2017 to 2025 due to growing awareness about breast screening among the people. Furthermore, presence of a large target population and rising disposable income are some of the factors expected to propel the growth of this region.
- Key players in this industry are Cianna Medical, Inc.; Cook Medical; STERYLAB; CP Medical; SOMATEX Medical Technologies; Argon Medical Devices, Inc.; and C.R BARD, Inc.
- Most of the key players are focusing on strategies such as expansion of their product portfolios and collaborations, mergers, & acquisitions. In November 2015, C.R. BARD, Inc. announced the acquisition of Liberator Medical Holdings, Inc., a direct-to-customer distributor of medical products
For more information: http://www.grandviewresearch.com