pune, Maharashtra -- (SBWIRE) -- 12/11/2023 -- Breast Lesion Localization Market By Type (Wire, Radioisotope (ROLL, RSL), Magnetic, Electromagnetic Localization), Usage (Breast Biopsy, Lumpectomy), End User (Hospitals, Diagnostic Imaging Centers, Ambulatory Surgical Centers) - Global Forecast to 2028", is expected to reach USD 0.4 billion by 2028 from USD 0.3 billion in 2023, will grow at a CAGR of 6.9% during the forecast period. Factors contributing to the market growth are improvements in the reimbursement policies, high incidence rate of breast cancer, and increasing breast cancer screening programs globally. In addition, the increasing number of breast cancer surgeries and rising awareness on the early detection of breast cancer is supporting the growth of this market.

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Key Market Players:

Some of the major market players in the breast lesion localization market include Hologic, Inc. (US), Becton, Dickinson and Company (US), Merit Medical Systems (US), Leica Biosystems Nussloch GmbH (US), Argon Medical Devices (US).

Breast Lesion Localization Market Dynamics:

Drivers:

1. Growing rate of the aging population

Restraints:

1. Uncertainty in regulatory approval procedures

Opportunities:

1. Increasing adoption of technologically advanced localization procedures

Challenges:

1. Shortage of oncologists

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Wire localization accounted for the largest share of the breast lesion localization market.

Based on type, the breast lesion localization market is segmented into wire localization, radioisotope localization, magnetic localization, electromagnetic localization, and other localization types. In 2022, the wire localization segment commanded the largest share of the breast lesion localization market due to widespread availability, moderate pricing, the simple storing requirements of wires, multiple ways of usage that can be used with a wide variety of image guidance techniques, the appropriate localization of abnormal tissues, minimum removal of normal tissues, minimum scarring, and the availability of reimbursement.

The hospitals & clinics segment accounted for the largest share of the breast lesion localization market.

Based on end user, the breast lesion localization market is segmented into hospitals and clinics, ambulatory surgical centers, diagnostic imaging centers, and other end users. Hospitals and clinics are the major end users of breast lesion localization market. The large share of this end-user segment can be attributed to the growing healthcare sector in emerging economies, the increasing out-of-pocket healthcare expenditure across the world, and the rising number of breast biopsy procedures.

North America segment accounted for the largest share of the breast lesion localization market.

The global breast lesion localization market is segmented into North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. In 2022, North America segment accounted for the largest share of the breast lesion localization market, followed by Europe and Asia Pacific. Factors such as, increasing prevalence of breast cancer, growing healthcare expenditure, and the increasing number of awareness programs for the early detection of breast cancer are boosting the market growth in North America.

Recent Developments:

- In December 2022, Merit Medical Systems launched Scout Bx. Scout Bx is a wireless, radar-guided localization system used to assist breast surgeons in identifying biopsied tumors for removal.
- In August 2022, Leica Biosystems Nussloch GmbH launched DualCore Dual Stage Core Biopsy System. The Mammotome DualCore biopsy system is the first dual stage core biopsy instrument for needle biopsies.

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