Rising number of breast cancer surgeries and increasing awareness about disease screening are the primary factors stimulating breast lesion localization methods market growth. The increasing healthcare awareness has triggered the growth of cancer screening with respect to the related symptoms to procure timely treatment and increase chance of survival.
The increasing demand for quality care and favorable reimbursement policies such as Medicaid and Medicare in the U.S. will foster industry growth. Various organizations such as the National Breast Cancer Foundation work to create awareness about disease and promote health. Certain risks associated with the use of devices and stringent regulatory guidelines imposed pre-marketing of the product may hinder the breast lesion localization methods market growth.
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Based on method, the breast lesion localization methods market is categorized into wire guided localization, magnetic tracers, radioisotope localization and electromagnetic reflectors. The wire guided segment is expected to dominate during the forecast period owing to its constant adoption among end users. The radio-isotope method reduces the surgery and localization time and hence is being adopted widely. This trend in adoption of radioisotope will fuel rapid growth of radioisotope localization market size.
Based on end user, the industry is categorized into diagnostic centers, hospitals, ambulatory surgical centers, and oncology centers. The hospital segment will principally drive the industry during the forecast period due to increasing number of hospitals and availability of latest technology with trained professionals.
North America breast lesion localization methods market will witness a high growth during the forecast period owing to high prevalence of cancer, well-established healthcare infrastructure and growing awareness about disease screening. As per the American Cancer Society estimates, 40,610 women will die in 2017 due of breast cancer in the U.S. This depicts the large patient pool in the region.
Europe account for second largest regional revenue share during the forecast period. Increasing healthcare expenditure has boosted the demand for breast lesion localization services. Various initiatives taken by European Commission to provide guidelines for screening and diagnosis of disease will support industry growth.
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Asia Pacific breast lesion localization methods market will grow at faster rate due to increasing incidence of cancer, rising demand for quality healthcare, increasing healthcare expenditure along with economic development in emerging economies. Moreover, government initiatives for modernization of healthcare and growing health awareness among public are some of the major driving factors fueling the regional share.
Latin America breast lesion localization methods market will witness considerable growth owing to increasing government spending to improve healthcare infrastructure in the region coupled with favorable reimbursement policies and rising awareness. Breast Health Global Initiative have been started in some countries of Latin America such as Brazil to provide diagnostic, treatment knowledge and guidance to people about the disease.
Key industry players of breast lesion localization methods market include Tsunami Medical, SOMATEX Medical Technologies, MDL, Biomedical, Laurane Medical, Sterylab, Argon Medical, Matek Medical and Cook Medical. Major industry players are focusing on new product development and upgrading existing products, along with various merger and acquisitions activities.
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