Global Breast Lesion Localization Methods Market, By Lesion Type (Non-palpable Lesions, Palpable lesions, Microcalcifications, and Others (Ductal Carcinoma in Situ, among others)), By Procedure Type (Wire Localization, Radioisotope Localization, Magnetic Tracer, Radiofrequency Localization, and Others (Clip Placement, among others)), By Technology (Radioactive, Magnetic, Radiofrequency, and Others (Blue Dye Localization, among others)), By End User (Hospitals, Diagnostic Centers, Ambulatory Care Centers, and Others (Private Clinics, among others)), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 378.2 Mn in 2023 and is expected to exhibit a CAGR of 7.4% during the forecast period (2023-2030), as highlighted in a new report published by Coherent Market Insights.
Breast lesion localization methods help surgeons to accurately locate suspicious breast lesions during breast biopsy and breast conservation surgery. Common localization methods include wire localization, radioisotope localization, electromagnetic localization, and other advanced methods.
Rising incidences of breast cancer coupled with increasing awareness regarding early diagnosis of breast cancer are the major factors boosting demand for breast lesion localization methods. For instance, according to the data published on July 12, 2023, by World Helath Organization, 2.3 million women were diagnosed with breast cancer and 685 000 deaths were reported globally, in 2020. By end of 2020, there were 7.8 million women alive who were diagnosed with breast cancer in the past 5 years, making it the world’s most prevalent cancer. Government bodies around the globe are offering increased funding for breast cancer screening programs that involve the use of these localization methods, thereby propelling market growth..
Global Breast Lesion Localization Methods Market – Impact of Coronavirus (COVID-19) Pandemic
The World Health Organization (WHO) designated the illness caused by the Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2), which first appeared in Wuhan (province of Hubei, China), in the last months of 2019, as "coronavirus disease 2019" or COVID-19. This virus spreads quickly, and had a serious negative impact on the economies, social behaviors, and healthcare of every country in the world.
COVID-19 affected the economy in three main ways: by directly affecting production and demand, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to the lockdown, several countries, such as India, China, Brazil, and others, faced problems regarding transportation of things from one place to another.
Furthermore, key market players operating in the global breast lesion localization methods market faced major challenges on various fronts due to the COVID-19 pandemic. The major challenges include the supply of raw materials required for manufacturing breast lesion localization product, due to irregularities in transportation facilities. Moreover, distributors of breast lesion localization products were experiencing irregular demand for products from retailers.
Global Breast Lesion Localization Methods Market: Key Developments
On October 16, 2023, RadNet, Inc., an radiology company, launched artificial intelligence enabled breast cancer detection service. In addition to a woman's yearly breast test schedule, RadNet, Inc.'s artificial intelligence-powered breast cancer detection service costs money and gives patients access to the following tools.
- Use of RadNet division DeepHealth's FDA-cleared Saige-Density mammography breast density assessment software
- An AI-driven review applied to suspicious exams and findings
- An in-depth personalized lifetime risk assessment for breast cancer
- A telephone support line
On July 28, 2023, Massachusetts Institute of Technology, a research university in U.S., introduced new a wearable ultrasound scanner that could detect breast cancer earlier. This wearable device, can be incorporated into a bra, could allow more frequent monitoring of patients at high risk for breast cancer. The device is a flexible patch that can be attached to a bra, allowing the wearer to move an ultrasound tracker along the patch and image the breast tissue from different angles.
Browse 44 Market Data Tables and 41 Figures spread through 155 Pages and in-depth TOC on “Global Breast Lesion Localization Methods Market”- Forecast to 2030, Global Breast Lesion Localization Methods Market, By Lesion Type (Non-palpable Lesions, Palpable lesions, Microcalcifications, and Others (Ductal Carcinoma in Situ, among others)), By Procedure Type (Wire Localization, Radioisotope Localization, Magnetic Tracer, Radiofrequency Localization, and Others (Clip Placement, among others)), By Technology (Radioactive, Magnetic, Radiofrequency, and Others (Blue Dye Localization, among others)), By End User (Hospitals, Diagnostic Centers, Ambulatory Care Centers, Others (Private Clinics, among others)), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
Link: https://www.coherentmarketinsights.com/market-insight/breast-lesion-localization-methods-market-104
Key Takeaways of the Global Breast Lesion Localization Methods Market:
- Global breast lesion localization methods market is expected to exhibit a CAGR of 7.4% during the forecast period. Technological advancements in localization methods offers lucrative growth opportunities for players in the global breast lesion localization methods market.
- In global breast lesion localization methods market, technology segment is expected to provide a lucrative opportunity for the growth of the market during the forecast period, and this is attributed to increasing technological advanced product launches by key market players. For instance, on November 27, 2023, GE HealthCare, a healthcare company, announced the release of a new, all-in-one platform of artificial intelligence (AI) apps to support clinicians with breast cancer detection and improved workflow productivity called MyBreastAI Suite. With this initial release, MyBreastAI Suite integrates three AI applications from iCAD including ProFound AI for DBT, SecondLook for 2D Mammography and PowerLook Density Assessment to support early detection and improve patient outcomes, as well as help radiology departments improve operational productivity.
- Among region, North America is expected to be the dominant region in the global breast lesion localization methods market, owing to increasing focus of key market players on stratiegies such as partnership for the enhancement of breast cancer detection. For instance, on December 18, 2023, Koning Health, the leading innovator in breast cancer technology, and Gentle Scan Health, LP, a venture firm, announced their strategic partnership that aims to revolutionize breast cancer imaging by installing 20 state-of-the-art Koning Vera Breast CT devices across the U.S. in 2024, with the inaugural installations scheduled for the Metropolitan New York City area, Atlanta, and Southern California at the start of the year.
- Major players operating in the global breast lesion localization methods market are Cook Medical Incorporated, C.R. Bard Inc., Endomagnetics Ltd., SOMATEX Medical Technologies GmbH., Cianna Medical, Argon Medical Devices Inc., Hologic Inc., and STERYLAB
