Breast Lesion Localization Methods Market Size

Breast Lesion Localization Methods Market Analysis

The breast lesion localization methods market is expected to register a CAGR of 11.2% during the forecast period.

The COVID-19 pandemic severely impacted the market studied, as footfall in hospitals, clinics, and diagnostics centers decreased significantly due to the pandemic-resultant lockdown and the suspension of non-urgent procedures. As per a research study published in Preventive Medicines in October 2021, global breast cancer screening and participation were impacted by the pandemic. Many nations, such as Canada, the Netherlands, Germany, Italy, the United Kingdom, and Australia, halted their breast screening programs to prevent the contamination and transmission of coronavirus among the population. Thus, the delayed screening and diagnostic procedures impacted the market growth during the pandemic. However, with the released COVID-19 restrictions, reopened oncology care units and hospitals, as well as an increased number of breast cancer surgical procedures and growing awareness programs by the government regarding breast cancer screening and treatment, the studied market is expected to regain its growth over the next 3-4 years.

Other factors, such as the rising prevalence of breast cancer and breast cancer surgeries, technological advancements in breast lesion localization, and increasing awareness and need for early detection of breast cancer among the population, are boosting the market growth.

The localization of breast lesions has emerged as a common procedure with advancements in the surgical and imaging techniques used to identify and treat breast injuries or breast cancer over time. The increasing burden of breast cancer worldwide is expected to drive the market. According to GLOBOCAN 2020 report, about 3,025,471 new breast cancer cases are expected to be diagnosed by 2040. The anticipated increase in the number of people who have breast cancer raises the demand for breast lesion localization procedures, propelling the market growth.

The increasing government initiatives to raise awareness regarding breast cancer among the population are also expected to increase the demand for breast cancer diagnosis and treatment. In October 2021, Wefra Life and Pink Ribbon Germany (a non-profit organization) launched a Breast Cancer Affects Us All campaign to raise awareness about breast cancer and promote breast care applications among the population. Breast Care is a free multilingual app that provides multimedia content in seven different languages that cover all pertinent aspects of early breast cancer detection and prevention.

Furthermore, the rising technological advancements in breast lesion localization methods are creating opportunities for companies, along with increasing the availability of advanced devices for conducting procedures. In May 2021, the United States FDA approved MOLLI Surgical's new wire-free localization technology for breast cancer surgery that allows radiologists to mark lesions rapidly and precisely and helps surgeons locate and remove lesions efficiently. This new platform includes an implantable marker, detection wand, and visualization tablet, which help improve tumor localization.

Therefore, factors such as the increasing burden of breast cancer, rising government initiatives, and approval of products are expected to grow over the forecast period. However, factors such as strict regulatory guidelines and high costs associated with breast lesion localization methods are expected to hinder the market's growth over the forecast period.